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New to me Craftsman 12"x24" 101.07403

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Technical Ted

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#1
I got this Craftsman lathe as part of a lot that was sold from an estate. I wasn't really looking to buy a lathe; I wanted some of the other items in the lot. Here are the stats:


  • Model: 101.07403 (with QCGB)
  • Serial: 12L-041649
  • 12" swing; 24" between centers
  • Tooling: 3 jaw chuck, 3 rocker tool holders, lantern holder, misc. boring bars, holders and tools, spindle sleeve and center, dead center.
  • No bench
This lathe was obviously not used for quite some time, because it was dirty, had some surface rust on some items (although the ways were in good shape), everything was gummed up, gears/shafts wouldn't revolve and the lathe was unusable as it was.

So, I decided to disassemble, clean, check everything out, lubricate, reassemble and paint. 35 hours of work later, I found it was in surprisingly great shape! Once disassembled, cleaned and lubed, everything freed right up. All bearing are nice and tight. There were absolutely no worn items or wear ridge lines on any gears or ways. The half nuts, lead screw, cross feed and compound screws and nuts are in fantastic shape and are nice and tight with minimal backlash. Very quiet even when running in backgears. I checked the 3/8" flat ways for wear and they were within .0005" (1/2 thousandth) entire length. There is some tarnishing on it (i.e. chuck, knobs, etc.) but it doesn't effect function; just cosmetic. The lathe was either used very little, very well maintained, or both when it was being used. I replaced the ungrounded electric cord and put in a new on/off switch after opening and inspecting the motor.

I don't know much about Craftsman/Atlas lathes, although I was a machinist years ago (now retired). It's obviously a light duty machine and has to be treated as such.
20170512_112622.jpg 20170512_112647.jpg 20170512_112655.jpg 20170512_112746.jpg 20170512_112750.jpg 20170512_112817.jpg 20170512_112836.jpg 20170512_112622.jpg 20170512_112647.jpg 20170512_112655.jpg 20170512_112746.jpg 20170512_112750.jpg 20170512_112817.jpg 20170512_112836.jpg
So, did I find a diamond in the rough or fools gold? What is something like this worth? I know it depends on location (I live in western NY), and a lot of other things... like what someone is willing to pay, etc.. I've watched Craigslist for years and don't ever remember seeing a Craftsman/Atlas lathe listed. Mostly South Bends, Clausing, Monarch, LeBlond, etc..

Any idea what it's worth?

Thanks,
Ted
 

westsailpat

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#2
Nice job with that machine Ted , thanks for all the pics . ( I hope you are keeping after all that work !) As for it's worth , I think you summed it up in the last sentence . Here is a example but this machine would be more desirable to me because of the original legs , but that's me . You never know , looks like you did a first class job with your stand someone might say " I really like that stand I would not want those original cast iron legs .
http://www.ebay.com/itm/VINTAGE-ATLAS-3982-SEARS-CRAFTSMAN-12-LATHE-METAL-WORKING-/262873127258
OK Edit this is a parts machine , plus it's missing a lot . Sorry I didn't read the fine print . Here is something closer to your machine .
https://orangecounty.craigslist.org/tls/6067119510.html
 
Last edited:

wa5cab

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#3
Ted,

Looks like a nice condition machine. I would put the reasonable price range as anywhere between $400 and $800. $400 would be a steal in most parts of the country. But you never know. As it sits, the machine is equivalent to the Craftsman 101.27430. The only difference is that the 101.07403 did not originally come with a QCGB and the 27430 did.
 

Technical Ted

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#4
"The only difference is that the 101.07403 did not originally come with a QCGB and the 27430 did."

That makes sense because the QCGB has a part number tag on it with 101.20140

Thanks,
Ted
 

wa5cab

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#5
Yes. That is the Sears Model Number of the QCGB upgrade kit that fit the 101.07360 through 101.07403.
 
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