Generally, older is better and if you can put a phase converter in (to use 3 phase motors on residential single phase power) you will find better deals. Reason

Generally, older is better and if you can put a phase converter in (to use 3 phase motors on residential single phase power) you will find better deals. Reason being, industrial businesses will sell off used machines way cheap when they upgrade or replace. Their stuff is a cut above the home use stuff like what I listed above. 5 horsepower is the upper end of what you can get from a single phase 220v motor. 3 phase motors can well exceed that limit. Otherwise, these machines are really very simple. Most of their mass is cast parts which don’t wear or break. The wear items are just bearings and belts which can be replaced. The only thing to be careful of is bent derive shafts on the motors. Take a dial indicator and measure the run out of the motor shaft on a used machine. If it doesn’t wobble and the motor runs ok you’re fine, buy it and polish it up.