Clear coat and paint restoration question

[Dangerous Doug]

I found an interesting classic car that I'm thinking of purchasing. The body is straight, and I think I can get the car cleaned up and running nicely. The only problem is the paint: the clear coat has peeled up in places in large patches, and the paint has faded.

Is it possible to polish and/or sand off the clear coat, and polish the paint for a fresh layer of clear coat to restore the finish?

This is not work I would do myself. Can body shops do something like this?

DD