WW: that stand has a pretty decent look to it. well at least the white painted part. also those old B & D grinders are hard to kill and i've got one i've used for years. the stand is probably worth all of the $50 asking price, but as Dave mentions you'd probably need to see it in person to say for sure. the grinder might just be something you can clean up and get your money back or have it to use in your shop.
good luck and get more pictures as you can to show us what you found if you go see it in person and maybe buy it.