$450 and what it will cost to move it out of what looks like a basement, onto a truck, to your place, then offload it to wherever she's gonna sit...
Complete with surface rust and apparently abused paint. Add to (or actually subtract from) that you have no idea what power it has (or if it does, or if it's something like 600V, or 10 HP, or ??), what shape the quill and bearings are, what drives it, does it even have variable speeds, etc?
I'd offer him $200 for it (if I had a friend with a flatbed and a crane) and have a scrap yard on the hook to take it if (or when) it becomes a pig in a poke. Sorry, but honestly, it would be a hard pass for me.