I just bought my first lathe, which is a Rivett 1020S, and I'm
obviously excited and ready to get it running. The motor is a 3-phase
5HP 240/480V and it is currently wired for 480V.

I plan to setup a phase converter using at least a 3-phase 240V 10HP
motor.

I've never setup a transformer to increase the voltage from my
converted 3-phase 240V to 480V and so I'm seeking advice on this.

Instead of the 10HP 3-phase 240V motor for the phase converter, will I
need to increase the HP any? Does this motor need to be a 240/480V?

Thanks in advance for any advice.

Mark,
This is entirely doable. I have a RPC giving me my 240 3 ph. It is
wired into a 240V distribution panel and a transformer. The
transformer takes 240 3ph in and 480 3ph out. Then I go into a 480
distribution panel. The cost of the used transformer, panel and wiring
was about $300.

I had one piece of equipment that was impracical to convert to 240 from
480. The coils for the starter would have had to be changed,
everything else switched, so I wanted to run it on 480. 2 other lathes
were 480 only. I can run smaller wire and the large motors start
easier on high voltage.

This was especially proven to me on my air compressor. On 240 I could
not start it when cold. On 480, the compressor starts much easier and
faster.

Now I have the option to run most equipment and not have to worry about
converting.

Bob