I'm surprised at the negativity. From a distance, it looks like a 12 X 36 lathe. Appears the motor stopped working and the PO pulled it and opened up the controls. And maybe did nothing else! (Best case.) The ad says "110/240 volt" but in the pictures, you can see the motor junction with no visible capacitor bump. May mean that the motor is actually 3 phase and therefore a candidate for a VFD? Worst case is having to buy a new TEFC motor and controls.
My first thought was the same that it would be a great candidate for vfd and whatever motor, after another look it looks like there is a couple of capacitors in the chip tray, either way it needs a new motor and it looks like someone troubleshot the motor and there it sat. The only other thing is why did the motor go, was it abused or did it just wear out or was there a bad event that happened. Definitely lots of potential there its a nice big lathe.
For anyone looking and willing to spend a bit of time and money you would probably be pretty happy in the end especially if there was a bunch of tools with it.