Agreed with what has been posted above - 5K is way way way too much. As mentioned above, 1990s Taiwan was not 2020s Taiwain: quality was not guaranteed like it is today. A new Taiwan lathe would not cost much more, and would have no guesswork.
The cost doesn't really add up. Let's say 2K for the base unit (though really it would be 1K if it came with nothing). The rotary phase converter? I paid under a K for a new American Rotary that powers the entire shop (garage sized, just two machines). Chucks? A new Bison will run around a K. DRO? Again, probably a K, though you could certainly spend a lot more. So the extra 3K is not really any savings - you could buy all of the high-ticket add-ons new for the same amount of money.
So: counter with 2k, or pass. Maybe 3K if he moves it for you.