Would someone kindly take a look at this lathe for me?

Robert, I would tend to agree. I think when you look at the quality of new machines in the market. Modern features, warranty available parts and accessories the prices are reasonable and (if you do your homework) quality is good.

There is a romance some have with old machines and there is nothing wrong with that. Most however need some work and simply don't have the features of newer machines.

I think for some the decision comes down to buying a tool that you want to restore as part of your hobby or buying a machine, that with the addition of tooling, will let you pursue your hobby.

For me I wanted tools to make parts not a machine which required repair so I could pursue my hobby.


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Like so many, I started out with a South Bend 9". I got a lot of use out of it but never liked the tiny bore through the headstock. Just saying, you might want to consider what the bore through the headstock allows or prevents you from doing.
 
Robert, I would tend to agree. I think when you look at the quality of new machines in the market. Modern features, warranty available parts and accessories the prices are reasonable and (if you do your homework) quality is good.

There is a romance some have with old machines and there is nothing wrong with that. Most however need some work and simply don't have the features of newer machines.

I think for some the decision comes down to buying a tool that you want to restore as part of your hobby or buying a machine, that with the addition of tooling, will let you pursue your hobby.

For me I wanted tools to make parts not a machine which required repair so I could pursue my hobby.


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That's true to a point. However, most secondhand machines don't need any repairs at all and work just fine, straight away. For many it's the only way to get a quality machine at an affordable price.
 
Brand new machines sure look pretty. If I were to be gifted a brand new machine I'd hide it out in the woods for a few years so that it became a rusty challenge.

I kid, I kid. Kinda. I like the new tools. ... and love the old tools.

I occasionally get stuck deciding on a purchase if it is in a new area to learn- Analysis Paralysis.
If I get stuck for too long I put the few top choices in a hat and pull one out. Take the plunge and learn on it. Adjust from there.
 
I'd take the variable speed over the quick change gearbox. It's so handy. And you won't be doing a lot of threading right away probably.
Also do keep an eye out for a cheap used bench grinder at a yard sale or on Craig's list.
I strongly disagree. I use my gearbox way more often than I change speeds. Yea, I only have 3 high and 3 back gear speeds, but the feed rate is always changing for roughing vs finishing. So I change the gears so often.

To me change gears would be a cumbersome pain in the rear.
 
Like so many, I started out with a South Bend 9". I got a lot of use out of it but never liked the tiny bore through the headstock. Just saying, you might want to consider what the bore through the headstock allows or prevents you from doing.
I have a 9 and I too struggle with the small bore.
While I like the machine, it is a problem.
 
I also started out with a South Bend. First an old worn 9" that I fully restored (except for 50+years of wear on the ways) and then a like new 10K. I really like the look and simplicity of the South Bends and the American heritage, but.. if I knew then what I know now I think it would have been better to start out with a new or more modern machine. Don't get me wrong the South Bends were great machines and all but some of the features like the screw on chucks, small through bore, felts, and leather drive belts that were typical on these smaller swing lathes I found to be frustrating and/or limiting. I guess a lot depends upon your budget and what level of used equipment may be available in your area. At any rate you have to start somewhere and very few drivers start off with a Ferrari as their first car.
 
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I started in a similar situation as you and my experience has been as follows. Keep in mind I had no previous lathe experience, but am very mechanically capable.
I debated new vs used and all of the normal questions asked. I liked the idea of having an old machine as well so my first machine ended up being a South Bend Heavy 10. I ran it before buying and it worked well. I like a project so I decided to refurbish it and change the felts, etc and in the process stripped it to the metal and put it back together. That all went good. I added a VFD to it and it worked well. I had it for 6 months. I sold it and just bought a new "chinese" machine.
You may ask why. First, as much as I think the lathe was working perfectly, I was just never 100% sure. I was always questioning something and I agree with the above that the screw on chucks were kind of a pain. The basic reason for all of it, inexperience and not knowing what was right and not right (which I don't think was anything).

I bought a brand new, albeit much bigger Chinese machine because 1) quality, even Chinese is 100 times better today than it was 30 years ago.and 2) I know that I am starting with a machine that should be working perfectly at the start (ok, nothing is guaranteed, but you get the idea). I will not have that lingering thought of should it be making this noise?
My view on it is, unless you have someone who you know personally that knows lathes well, I would go new. As much as this group is great with giving advice, what is clear for them is not as easily clear to someone with no experience. I would recommend buying bigger than you think you need, but I believe you will be happier going new and having the piece of mind of a warranty.
I am getting a Precision Mathews 1440GS, so a lot bigger, but I have one of their Mills as well. I highly recommend their products for quality and value.
 
The quality of the Chinese machines really jumps up a bit when you get into the 12" lathes; I understand that the price may be an issue.
I started out with a mini-lathe but it needed a lot of work before it became a semi useful machine.
Now that I have a 12" (old American iron) the mini-lathe sees little use, although it was needed to get the big lathe up and running.
You will take a beating on the resale value of the smaller lathes.
 
That's true to a point. However, most secondhand machines don't need any repairs at all and work just fine, straight away. For many it's the only way to get a quality machine at an affordable price.

Not in my area, I looked at many used vertical mills and found none that did not need some level of work. Those used ready to run Bridgeport mills in this area command a premium. Ive a friend in machine tool sales and his experience is that the decent ones end up at employee home shops or people otherwise connected to ownership.

I looked at an "excellent condition" SB heavy 10 a few weeks ago that needed a motor and a carriage gearbox rebuild. A very clean Grizzly surface grinder had a non negotiable price $500 below new and the magnetic chuck activation arm was frozen in the off position. The unit was sealed in epoxy.

I hear stories of these clean used machines all the time but have yet to find one.


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