joe.striper
The lathe in the posted listing you show here looks complete, not abused, nothing broken or repaired with brazing. From the photo of the bedway, it looks to have reasonable wear for a lathe of this age. There is a cast iron bracket with multi-speed gearbox (Drive-all ? Uni-drive ?) included with the lathe. This solves the matter of providing a drive for a lathe designed for overhead drive. My 2 cents is that the price seems fair, and the lathe looks like something that could be set up and put to work with not too much work needed. The big question is whether the spindle turns freely by hand. Plenty has been written on this 'board as to how, in this design of Hendey lathe, bound spindles due to "Hendeyitis", or wear on some of the thrust surfaces at the front spindle bearing, can cause this binding to happen. It is repairable, but a bit of a job.
The seller has done you a favor by either not mounting, or dismantling the bracket and drive. This lowers the center of gravity for moving the lathe and transporting it. It looks like some tooling is with the lathe.
If I were looking for an old cone-drive or cone-head lathe, I would jump on this one. Size is right for a good range of work, and Hendey built a very fine lathe. Plenty of information for these lathes exists and plenty of people here own, restore, repair, and use these "cone head" or "tie bar head" Hendey lathes.
Probably another good selling point is the distance you have to go to inspect the lathe and, if you purchase it, to haul it home. The lathe is in Farmington, CT, and you are in Massachusetts (not specific as to what part of MA). No disrespect to either MA or CT, but neither is a particularly large state. Distances between you and that lathe may be fairly close.
Old lathes, in good condition, of the types we ('board participants here) tend to want for our shops are in short supply and no new ones are being built. If this lathe meets your needs, is in close reach to you, and is in serviceable/good condition, it would seem like a good deal.