Just scored a killer deal on a 60gal compressor - worth it?

So I was at the local pawn shop and spotted a 60gal, 5hp Ingersoll Rand upright for $300! It's a bit older but looks barely used, runs smooth and quiet. The guy said it's been sitting for a while. Is it worth grabbing? I need something bigger than my little pancake for my restoration projects, especially for spraying and running my DA sander. What do you all think?

$300 for an IR 60gal is a steal if it holds air and the pump isn't shot. I'd check the tank for rust or pitting (can't see inside easily, but look for welds and bottom). Also, let it run and see if it cycles correctly, check the pressure switch, and listen for odd noises. If it's 230V, make sure you have the electric supply. For restoration work, a 60gal is perfect for blasting and spraying. I'd say go for it, but negotiate.. maybe they'll take $250.

Man, that's a beefy unit! I'm a woodworker, so I'm used to little hobby compressors, but I can tell you that having a big tank is awesome for not running the motor constantly. If it's an older model, they're built like tanks. Just make sure it has the right oil in it. Check if it's an oil-less or oil-lubricated pump. If it's oil-lubricated, change the oil before you use it heavily. And maybe drain the tank and see if any water comes out rusty. If it's clean, you're set.

I agree with Chris, check that tank from top to bottom. Rust is a deal breaker. Also, check the amps on the motor - if it's 5hp, it's probably 220V. I had a 60gal once, and it was a dream for running my media cabinet. For $300, even if you have to put a hundred into it, you're still ahead. Grab it before someone else does. And if you need parts, IR has good support.

Thanks guys! The tank looked solid when I checked, no rust spots. It's 230V, and I have the hookup in my garage. I think I'm gonna go back and negotiate. I'll also check the oil and give it a test run. I'll update you if I get it!