The Porsche 356 might not be as iconic as the 911, but it’s an equally important part of the German company’s history. After all, it’s Porsche’s first-ever production model. The good news is that the 356 is getting the attention it deserves nowadays, with stored and forgotten examples being dragged out of barns to be restored and, often enough, flipped for big cash.

Dirty and rusty 356s are far from spectacular, but this particular example is a true survivor. Forgotten in a barn for almost 40 years, it emerged into the light in search of a better life. And while 40 years of improper storage can disintegrate a car, this 356 took it rather well.

Granted, it now looks like a chameleon in faded green, primer, and rust spots in various shades of brown, but it’s in a surprisingly good state on the outside. The body panels are still straight, and the gaps seem to be in order. And it even includes the original chrome trim, wipers, mirrors, and antenna.

We can’t say the same about the interior, though. The front passenger seat is the only one that appears to be salvageable, while the driver seat and the rear bench need replacements. The 356 also needs a new headliner and door panels. The dashboard, on the other hand, looks decent, with only a few rust spots to worry about.

The floor appears to have survived four decades of storage like a champ, but it needs a lot of attention to prevent all that surface rust from doing more damage. It already shows some old rust repairs, a sign that 356 was already having some issues before being locked away in the early 1980s.

But the best part about this barn find is that it runs and drives well, at least according to the seller. A quick look at the engine reveals that the flat-four received a few new parts and wiring. The unit in question is most likely a 1.6-liter boxer-four, rated at 88 horsepower and 86 pound-feet (117 Nm) of torque back in the day.

A 1963-model-year example, this coupe is a late version of the 356. The nameplate debuted in 1948 and received its first important update in 1955 when Porsche renamed it the 356A. Another upgrade followed in 1959 when Porsche introduced the 356B.

Three years later, the Germans switched to the T6 body, recognizable by the twin grilles on the engine compartment, which you can also see on this car. The 356C replaced the 356B in 1964, one year before the nameplate was phased out to make way for the more iconic 911.

Auctioned off at no reserve by eBay seller “mbvcars,” the 356 is located in Cleveland, Ohio. The bidding is at $45,000 with three hours to go. It’s not exactly a bargain, but it’s more affordable than 356B examples in good condition. These cars usually fetch at least $100,000 while some versions change hands for more than $200,000.

Needless to say, this 356 is the perfect candidate for a frame-off restoration, but I kind of like the rat-rod-style look. I’d revamp the chassis, drivetrain, and interior while keeping the exterior as is.