Definitely do not try to reduce the voltage to your motor, as others have
warned, also. A quick and easy way to set up your buffing system is to buy
a length of All-thread. Slip your various buffs on, and secure each with
two nuts and washers. Mount this in your lathe, between spindle and
tailstock, and set the speed to whatever works for you. It will look sort
of like a shoe repair setup.

Then, when you find a cheap lathe, you can transfer the whole thing over, so
your good lathe is not tied up.