Welcome to my test equipment page. If you're interested in the practicalities or aesthetics of older used electronic test equipment, you've come to the right place.
This is especially true of “lab grade” test equipment. This is very high-quality equipment intended for industrial or research use that was generally near state-of-the-art at the time it was produced. Because the state of the art keeps moving, equipment that is 10 years old is considered highly obsolete, yet even 20 or 40 year old equipment frequently has capabilities in excess of current “service grade” equipment (Hitachi, Goldstar, B.K. Precision, etc.) See Rec.antiques.radio+phono Tools and Test Equipment(FAQ: 8/9) for discussion of the test/lab grade distinction and of types of older tube-based equipment.
The used lab-grade instrument market is largely dominated by Hewlett-Packard (now Agilent) and Tektronix, but there are many other quality makes which have narrower specialties. I must also admit that there's an aspect of collectiblity here. Instruments made before 1970 often have a degree of old-world crafstmanship which many geeks find irresistible. I'm particularly fond of General Radio's art deco, but Leeds and Northrup has a victorian charm.
Many of the classic pieces of older equipment were made by manufacturers that are now gone or are no longer in the general purpose test equipment businesses. The nonexistence of the manufacturer doesn't make a whole lot of practical difference, since Tektronix and Agilent don't provide much support for the really old stuff, and if they did have spares, etc, the price would be appalling. Availability of the service manual is the main consideration, but there is a thriving market in old manuals:
Though I haven't gotten anything usable this way, you can get old instruments for free if you know where to look or who to ask at a university or company. Also, if you go to a hamfest at the end of the day, you will find stuff that didn't sell being given away. There are a number of ways to buy used instruments: