To overhaul that, I'd charge nearly $200. Adding a re-wind, it'd be somewhere around $450. Those are well north of $2000 new.
You can still get a good idea of whether it will run without actually running it.
How much bearing rattle do you hear when you spin it? Grasping the shaft firmly, can you perceivably move it up and down, relative to its normal position?
Does it smell like burnt varnish inside? (Musty, tangy, and vaguely reminiscent of cigars, but quite different.)
Do you have continuity through the correct leads?
How much resistance (in megaohms, with at least 500V potential, assuming a 220V motor) does it give between the windings and the frame?
The only thing those tests won't tell you is whether you've got a short internal to one of the windings. You'd need an internal growler for that, and even the megaohm meter for the test above is a bit of a stretch.
Like any used item, you have to take into account what repairs it would need to be in good order. If there's an issue with the windings, you're going to be hard pressed to sell it at anything above scrap.