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8th August 2020, 01:00 PM #1Senior Member
- Join Date
- Aug 2014
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- Geelong, Victoria
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- 284
What is a fair price for a lathe?
I thought I had posted this, but I can't find it anywhere, so sorry if I have doubled up!
I am clearing out my workshop in preparation for a move interstate if this Covid situation ever improves!
I am thinking that my lathe may have to go - a sad decision. I will probably downsize on a new lathe once I get settled in a new place.
I have had the lathe three years - from new. It is in good condition, having only hobby use. Not one of the better-known brands, but a good solid machine with EVS and plenty of grunt. It has the paint chips etc that you would expect on a lathe that gets used to turn hardwood, but nothing at all wrong with it. It is the current model.
So my question is what is a fair starting price for a three-year-old lathe? I want to be fair, but don't want to give it away. Years ago, I think I would have said 2/3 purchase price, but is that too dear in today's world?
Bruce
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8th August 2020 01:00 PM # ADSGoogle Adsense Advertisement
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- Advertising world
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8th August 2020, 01:58 PM #2Senior Member
- Join Date
- Apr 2010
- Location
- NSW, but near Canberra
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- 422
I'd say it entirely depends on the brand. If it's a sought after "top flight" brand, then it's worth more (as a percentage of it's "new" price). If it's a Bunnings/Aldi or un-named Chinese, then far less. Supply and demand - if it's a cheap lathe "new" then another new one is also cheap and comes with a warranty etc. so the demand for second-hand is far less. The same applies to any tools or accessories, named brand ones add value but unknown brands far less so.
Another way to check is to look at completed "sold" listings on eBay (don't bother looking at current listing prices, some items have been for sale for years!). For example what looks like a Carbatec economy lathe ($739 new) sold in June at a top bid of $417, but that listing included a "near new" $320 Hafco scrollsaw, "numerous tools and chucks and accessories" and some turning blanks, though it was said to have a "slow to start when cold" motor. On that basis the market price at that time was less than 40% of the new price, even if we disregard the tools!
Of course you can always try your luck at a higher price, there's "one born every minute" as my father used to say!
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8th August 2020, 03:28 PM #3
Up to 2/3 would be fine if it is in good nick. You could try the market section of the forum with pictures and see if you get a bite. Read the rules first. Good luck.
Regards
John
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9th August 2020, 09:17 AM #4Senior Member
- Join Date
- Aug 2014
- Location
- Geelong, Victoria
- Posts
- 284
Thanks for the thoughts. I am going to Ofer it to my Men’s she’d at a lower price first. It is far better than what they have. I can’t see my way clear to donate it completely. They may not be interested in which case I will list it on the marketplace here.
Bruce
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9th August 2020, 10:19 AM #5.
- Join Date
- Feb 2006
- Location
- Perth
- Posts
- 27,793
In case you are disappointed, in our area, men's sheds get so much gear donated to them that they rarely pay for used machinery.
2/3rds the purchase price is probably a reasonable advertising price but if you only end up getting 1/2, then in these days you will have done OK.
The way I look at it is, that as soon as it walks out the show room door its worth only 80% of what was paid.
Then when the warranty runs out its worth less again maybe 70%
Then its up to wear and tear, and how many other similar machines are out there and the demands for these machines
A knowledgable turner will want to see a headstock centre point precisely kissing a tailstock centre point so a photo of that would be worthwhile.
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