My Ingar looked worse than that when I started (as I recall it still cost me $600). After quite a few hours effort (which is considered recreation), cost for arbors, spindle bearings $$, a mag chuck, coolant setup and lots of little bits and bobs - I now have a nice little grinder. Perhaps worth $1500? Yeah, a sucker for broken machines (my shop is reminiscent of “the island of misfit toys”).