# PM1340GT Value??



## springer (May 24, 2021)

I know what everyone is going to say, "it depends on the local market" but I'm considering selling my 1340GT.  What would do you all think I could reasonably expect to get for it?  It has the taper attachment, a bison 4 jaw scroll chuck, the upgraded 3 jaw scroll and 4 jaw independent and a nice "made in poland" 3 jaw scroll set true check, front and back spider chucks, several live centers and a tegara drill chuck.  It has DRO, about 12 tool holders, solid tool post riser and compound can be put back on.  It's a single phase machine, but I have a Baldor vector drive motor and Automation Direct VFD ready to install, I just haven't got around to it yet.

To me, I think it should bring $5k with all the chucks and stuff, but I'm sure I'm dreaming.  Any ideas?  I'm in the DFW, TX area if anyone is familiar.


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## SRay53TxTn (May 24, 2021)

I think that's a great value/price - there is a lot of demand though and price may be low. Lot of folks might drive a ways to get a deal like this.
I usually knock off 30% of original pricing if it's used and in excellent condition (any of my hobby items and I try to keep them as OEM as possible reduce for any major dents/dings and be up front with pics) and they all sell quickly - IMHO

Just a retired guy with some great/fun hobbies.


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## springer (May 24, 2021)

Thanks for the insight.  I'm the kind of guy that thinks my stuff is , worth whatever would be a good deal vs new so usually on the high side, but at the same time, as soon as I decide to sell something, I'm ready to move it and usually lose my a$$ on it.


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## nighthawkFmobil (May 24, 2021)

What stand is it coming with? When did you purchase it?


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## mksj (May 24, 2021)

I think you are a bit low, in particular with all the additional hardware. It is a toss up on the addition of the VFD and vector motor that you will get decent money out of those, you may be better posting those in this forum or possibly Craigslist. Usually if people see stuff, they want it, so it all depends on if you are looking at getting rid of everything in one swoop or piece meal it out. I would ask between 6-6.5K for the package. When I sold mine, I posted it on Craigslist, had a gunsmith drive 500+ miles each way to pick it up. He was a happy camper, in particular to get a lightly used lathe all set-up to go. Also given that nobody has new lathe inventory, I think people will make the trip to buy it. I put mine on outrigger rollers and we rolled it onto his trailer with a small ramp he made.


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## nighthawkFmobil (May 24, 2021)

I just bought a mill and already have a 1228 but I'm drooling at the prospects of your offer.  I'm cheap so I'd hit you lower than your asking price but 5k is definitely fair. I'm in the Abilene area I'm quite tempted. Would love to upgrade my 1228 but i still havent really outgrown it. Just want a more rigid machine.


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## 7milesup (May 24, 2021)

Right now with everything on back order or sold out,  it might be worth more than you think. I sold my PM1022 lathe a few months back with hardly nothing with it.  The only extra the guy got was a set of indexable Chinese tooling and a 5" Pratt Lambert chuck.  Didn't even have the follow or steady rest. $2400 which was about $700 more than I paid for it. He wanted a lathe now and everything is sold out.  
YMMV


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## parshal (May 24, 2021)

I'd be asking double for my 1340GT with a VFD and DRO.  I have two 3-jaw and a 4-jaw (all set-tru), a set-tru collet chuck, 25-30 toolholders and a bunch of stuff I'm probably forgetting.  I'd want $9-$10k and I'd still be losing money. 

I'd start yours at no less than $7500, probably higher.


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## Tipton1965 (May 24, 2021)

So are you upgrading after selling your lathe?  If so what are you looking at?


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## springer (May 24, 2021)

nighthawkFmobil said:


> What stand is it coming with? When did you purchase it?


I made a stand for it last year, 2x3 and 2-1/2x2-1/2 heavy wall tubing.  I bought it in 2017 but don't have a ton of hours on it because my day job had me super busy as soon as I bought it.


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## springer (May 24, 2021)

nighthawkFmobil said:


> I just bought a mill and already have a 1228 but I'm drooling at the prospects of your offer.  I'm cheap so I'd hit you lower than your asking price but 5k is definitely fair. I'm in the Abilene area I'm quite tempted. Would love to upgrade my 1228 but i still havent really outgrown it. Just want a more rigid machine.


Come get it!!


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## springer (May 24, 2021)

Tipton1965 said:


> So are you upgrading after selling your lathe?  If so what are you looking at?


I'm in love with the CNC game now so looking at CNC lathes to replace this.  I may very well regret selling this as I absolutely love it, but I don't have the room to keep anything if I bring a new machine in.


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## Hozzie (May 24, 2021)

I would add it all up of and take 15% off and say first to show up with Cash gets it.  Things are too hard to get right now to give it away.  You have a lot of nice extra's that aren't cheap.   I don't recall if the warranty will transfer, but if it will you should still have some time with it and that is a plus as well.


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## tjb (May 24, 2021)

You don't say how old the machine is or what its condition is, but I'm assuming it's relatively new and well maintained.  With that qualifier, I agree with those who say you're a little light on your price.  I'm with Mark (mksj).  I would be inclined to think if it's in the condition it sounds like, you could easily get $6,500.  As a comparison, a few years ago, I gave $6,000 for a very nice Vectrax mill, Made in Taiwan with all the bells and whistles on it.  It was ten years old, but had only been used one year in a hobby environment, and was stored in a house for the next nine.  I have a contact at MSC Direct and asked about that unit compared to a new one.  She told me if it's essentially perfect (it was), it likely is a better machine than a new one.  That age machine was made completely in Taiwan.  The newer ones evidently have many parts made in other places.  She told me even MSC doesn't know where all the parts were made.  $6k was a little less than half what a comparable new one would have cost.  I drove 250 miles one way to get that machine.  Glad I did, and I never looked back.

Also, I don't know about your area of the country, but I suspect it's not terribly different from mine.  We live in an equipment desert around here.  When a good piece of equipment pops up, it's usually sold before most people ever knew it was on the market.  (I sold a nice Chinese lathe about six months ago on Craig's list and had seven responses ready to buy it.  First guy that called was the first one here, and he got it.)  Assuming good equipment in your area is sparse, see what other comparable equipment is selling for; anticipate how yours stacks up with regard to quality and peripherals; set a price, and stick with it.  Bet you'll sell it in a heartbeat.

Regards,
Terry


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## springer (May 24, 2021)

Well, I posted it on Craigslist for 6500. We will see if it gets any interest. After thinking about it more, with the vfd and motor, I think thats still a good deal. I have a pile of mt3 drill bits and tools I'll throw in with it to seal the deal if someone shows up on the fence. Wish me luck.


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## springer (May 24, 2021)

Also didn't think about the tooling. CCMT, CNMG, DCMT, multiple carbide boring bars, regular boring bars, that should be worth extra value as well.


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## springer (May 24, 2021)

So been a while since I've played the craigslist game. What's with the "can I send you a code to verify you're aren't fake?"  3 right off the bat. What could they possibly get from that?


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## 7milesup (May 24, 2021)

Do not agree to the code crap.  It is a scam. Craigslist has turned into nothing but a scammer hangout.   I now sell my stuff on Facebook marketplace.    I hate Facebook but it is 10 times better than CL


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## springer (May 24, 2021)

7milesup said:


> Do not agree to the code crap.  It is a scam. Craigslist has turned into nothing but a scammer hangout.   I now sell my stuff on Facebook marketplace.    I hate Facebook but it is 10 times better than CL


Yea I'm thinking I need to make a Facebook account again


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## davidpbest (May 24, 2021)

I believe you will get the best price if you're willing to crate and load on an LTL, listing it as a 7-day auction on eBay with plenty of photos and no reserve.  I'd put the starting price at $5K, and have a complete list of the tooling/chuck inventory and be as specific as you can be.  I wouldn't be surprised to see it sell for $7,500 with siginficant bid jumps in the final 90 seconds of the listing.  When I'm buying on eBay I use eSnipe to enter my bid in the last 6 seconds of the auction, and a lot of other people do the same.  I have tried the Facebook marketplace several times as buyer and seller, and I'm totally turned off by the lack of a good messaging system to allert both ends about questions and how to pay/settle the deal - it's a joke IMO.  Craigs List is a lot better if you demand all cash at time of pickup, require a Venmo non-refundable $100 deposit to hold for 24 hours, and specify there is no post-sale support.


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## Aukai (May 24, 2021)

nighthawk, the 1340 is much better than my 1228, I am not disappointed at all. I'm getting the hang of the feed rates on the gear box, and learning new muscle memory things for the controls. If it checks out being in good shape you may never out grow the 1340.


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## matthewsx (May 24, 2021)

Sell it to a forum member, I'm sure you'll get more than enough interest to justify upgrading to a Gold membership so you can list it here.


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## 7milesup (May 24, 2021)

Keep in mind that eBay will cost you a minimum of 10% as a sellers fee.  Plus the hassle of shipping it.


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## vinnito1 (May 24, 2021)

I'm right up the road from you in FW. We drive all the time to the Burelson HEB. Since you are looking for a CNC lathe....would you ever consider converting your lathe to CNC?


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## 7milesup (May 24, 2021)

vinnito1 said:


> I'm right up the road from you in FW. We drive all the time to the Burelson HEB. Since you are looking for a CNC lathe....would you ever consider converting your lathe to CNC?


The OP is in Sioux Falls, SD according to his profile.


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## Christianstark (May 25, 2021)

If I wasn’t in queue with PM with an August delivery, I’d be all over it at $6500.


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## mikey (May 25, 2021)

Christianstark said:


> If I wasn’t in queue with PM with an August delivery, I’d be all over it at $6500.



Not sure I understand this. You haven't taken delivery and you CAN change your mind, right? Given the scarcity of lathes nowadays, PM will have no trouble selling the one you reserved.


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## ArmyDoc (May 25, 2021)

7milesup said:


> Keep in mind that eBay will cost you a minimum of 10% as a sellers fee.  Plus the hassle of shipping it.


Thanks for posting that.  I always wondered...


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## 7milesup (May 25, 2021)

davidpbest said:


> I have tried the Facebook marketplace several times as buyer and seller, and I'm totally turned off by the lack of a good messaging system to allert both ends about questions and how to pay/settle the deal - it's a joke IMO.  Craigs List is a lot better if you demand all cash at time of pickup, require a Venmo non-refundable $100 deposit to hold for 24 hours, and specify there is no post-sale support.


There are two methods of notifications available.  If you have a smart phone you can allow notifications from FB when someone replies.  Better yet is Facebook Messenger.  99% of the people that I have dealt with use this method.  It is no different than texting except it is using Messenger as the platform.  The benefit of Facebook is most people utilize their real name for their profile, so you know right away who you are dealing with.  I recently sold a large blanchard ground shop table.  I posted it on CL and FB.  Within an hour the scammers on CL were pounding on my phones door, even though I entered my phone number as an alphanumeric.   I took the CL ad down and sold it through FB.  I have recently gotten text messages with a link to a porn site along with the standard "send you a code". I  guarantee that this BS came from CL.


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## springer (May 25, 2021)

7milesup said:


> The OP is in Sioux Falls, SD according to his profile.


I'm in texas now, just need to update my profile. 

Updated***


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## springer (May 25, 2021)

vinnito1 said:


> I'm right up the road from you in FW. We drive all the time to the Burelson HEB. Since you are looking for a CNC lathe....would you ever consider converting your lathe to CNC?


No I don't want the hassle and would prefer a proper cnc lathe. If I can find one for a decent price, live tooling would be a plus as well.


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## Pcmaker (May 25, 2021)

I had my PM25MV on Facebook for 2 weeks and no buyers.

I put it up on Craigslist and got multiple buyers within an hour of me posting it


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## Christianstark (May 25, 2021)

mikey said:


> Not sure I understand this. You haven't taken delivery and you CAN change your mind, right? Given the scarcity of lathes nowadays, PM will have no trouble selling the one you reserved.


I'm planning on reaching out today to see if my delivery is still on track with all of the craziness over there. The rub is in order to have the cash on hand to buy this one, a refund would need to hit my account from PM. Once I pulled that trigger, I have been kind of eager for my brand spanking new machine...but if the circumstances in Taiwan have changed, and pushed my delivery, I would have no problem asking for a refund, and road trip to TX with a trailer...


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## vinnito1 (May 25, 2021)

springer said:


> No I don't want the hassle and would prefer a proper cnc lathe. If I can find one for a decent price, live tooling would be a plus as well.


Don't know what your price range or lathe specs, but I recall seeing a Tormach 15L fs in San Antonio on Facebook. That may not fit your needs based the posted CL photos


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## Old A10 (May 25, 2021)

I would be interested in buying this from you. I have been lurking here for about a year reading everything I could about PM lathes and I have decided to buy a PM 1340. I am waiting for my house to be finished so I have not ordered one yet. This may be the perfect solution for me. I will be visiting my brother next week in Austin and I could drive over and make arrangements with you to have it shipped to FL. I can pay cash no problem. I do not have any idea what it would cost to have it crated and shipped. Feel free to private message me.

Michael


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## Steve R (May 25, 2021)

springer said:


> So been a while since I've played the craigslist game. What's with the "can I send you a code to verify you're aren't fake?"  3 right off the bat. What could they possibly get from that?


Just a heads up on the code thing. Once they contact you and you contact them back, they get your email and try to reset your password to take over your email. The code actually comes from your email provider and when you send to them they can change and take access to your email account.  There were some posts on local craigslist a while back on this.


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## Firstram (May 26, 2021)

I'm also interested! I could show up with cash and a trailer this weekend. I know others have expressed interest but please put my name in the queue, Thanks


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## SRay53TxTn (Jun 1, 2021)

springer said:


> I know what everyone is going to say, "it depends on the local market" but I'm considering selling my 1340GT.  What would do you all think I could reasonably expect to get for it?  It has the taper attachment, a bison 4 jaw scroll chuck, the upgraded 3 jaw scroll and 4 jaw independent and a nice "made in poland" 3 jaw scroll set true check, front and back spider chucks, several live centers and a tegara drill chuck.  It has DRO, about 12 tool holders, solid tool post riser and compound can be put back on.  It's a single phase machine, but I have a Baldor vector drive motor and Automation Direct VFD ready to install, I just haven't got around to it yet.
> 
> To me, I think it should bring $5k with all the chucks and stuff, but I'm sure I'm dreaming.  Any ideas?  I'm in the DFW, TX area if anyone is familiar.


So how did your sale go over the weekend?


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## wrmiller (Jun 1, 2021)

springer said:


> I know what everyone is going to say, "it depends on the local market" but I'm considering selling my 1340GT.  What would do you all think I could reasonably expect to get for it?  It has the taper attachment, a bison 4 jaw scroll chuck, the upgraded 3 jaw scroll and 4 jaw independent and a nice "made in poland" 3 jaw scroll set true check, front and back spider chucks, several live centers and a tegara drill chuck.  It has DRO, about 12 tool holders, solid tool post riser and compound can be put back on.  It's a single phase machine, but I have a Baldor vector drive motor and Automation Direct VFD ready to install, I just haven't got around to it yet.
> 
> To me, I think it should bring $5k with all the chucks and stuff, but I'm sure I'm dreaming.  Any ideas?  I'm in the DFW, TX area if anyone is familiar.



I'd be interested in knowing what you eventually sell your lathe for. I am seriously considering selling both of my machines, a PM935TS and a PM1340GT, and all of their tooling around the end of this year. Thanks.


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## springer (Jun 1, 2021)

Sale went good.  She is gone and I can honestly say I miss it already.  I haven't been without a lathe in 15 years.  

wrmiller, if yours is similarly equipped as mine described earlier, I'd ask no less than $6500.  I let mine go a little cheaper, but not much.  I had already committed to this gentleman before I had several other offers.  No doubt, I left a little on the table, but that's just how it goes.


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## wrmiller (Jun 1, 2021)

springer said:


> Sale went good.  She is gone and I can honestly say I miss it already.  I haven't been without a lathe in 15 years.
> 
> wrmiller, if yours is similarly equipped as mine described earlier, I'd ask no less than $6500.  I let mine go a little cheaper, but not much.  I had already committed to this gentleman before I had several other offers.  No doubt, I left a little on the table, but that's just how it goes.


Thank you for responding. Mine is similar in that it has a DRO, VFD, and good tooling. No taper attachment though. Mine will be more difficult to sell, in that I want to sell both machines and all their tooling so I'll need to find the right buyer. 

Thanks again.


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## Tipton1965 (Jun 1, 2021)

wrmiller said:


> I'd be interested in knowing what you eventually sell your lathe for. I am seriously considering selling both of my machines, a PM935TS and a PM1340GT, and all of their tooling around the end of this year. Thanks.


Why are you wanting to sell your machines?  Are you upgrading?


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## Jake P (Jun 1, 2021)

springer said:


> I let mine go a little cheaper, but not much.  I had already committed to this gentleman before I had several other offers.  No doubt, I left a little on the table, but that's just how it goes.


You did the right thing and that's so much more important than the dollar.  Good on you!


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## Christianstark (Jun 1, 2021)

springer said:


> Sale went good.  She is gone and I can honestly say I miss it already.  I haven't been without a lathe in 15 years.
> 
> wrmiller, if yours is similarly equipped as mine described earlier, I'd ask no less than $6500.  I let mine go a little cheaper, but not much.  I had already committed to this gentleman before I had several other offers.  No doubt, I left a little on the table, but that's just how it goes.


I’m hoping to see a new lathe thread for you soon! Wish I was in a better position to buy yours, but I’ll be patient waiting on mine!


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## Jake P (Jun 1, 2021)

Christianstark said:


> I’m hoping to see a new lathe thread for you soon! Wish I was in a better position to buy yours, but I’ll be patient waiting on mine!


I suspect that you and I are on the same list for the 1340.  Sure hope there are no delays, it's been a very long wait so far and still at least two months to go!


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## Christianstark (Jun 1, 2021)

Last I checked, it moved from End of July to mid August...


Jake P said:


> I suspect that you and I are on the same list for the 1340.  Sure hope there are no delays, it's been a very long wait so far and still at least two months to go!


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## Jake P (Jun 1, 2021)

Christianstark said:


> Last I checked, it moved from End of July to mid August...


I thought that was just for your mill.  Bummer.


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## Christianstark (Jun 1, 2021)

I think my mill is still on for July. Which mill are you getting?


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## Jake P (Jun 1, 2021)

Christianstark said:


> I think my mill is still on for July. Which mill are you getting?


I'm not getting a mill yet, not in the budget.  I misunderstood the post you made elsewhere about the delay, I thought you were talking about the mill not the lathe.


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## Jake P (Jun 1, 2021)

Yep, here's your post:

"Called PM yesterday to see how my order was going, and learned that the 833TV is no longer expected in July, but in Mid August now. I know things happen, but I am a bit miffed that I had to call to find this out. I am paid in full on over $14K worth of machinery, I kind of figure I deserve updates when things change. 

I guess I will take a deep breath, and let it go."


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## Christianstark (Jun 1, 2021)

Whoops! Ok so it’s been a week, so either the mill was delayed, and the lathe was coming later, or I mixed up my post. I’m not going to call again till July though. They are probably sick of me by now!  Lol



Jake P said:


> Yep, here's your post:
> 
> "Called PM yesterday to see how my order was going, and learned that the 833TV is no longer expected in July, but in Mid August now. I know things happen, but I am a bit miffed that I had to call to find this out. I am paid in full on over $14K worth of machinery, I kind of figure I deserve updates when things change.
> 
> I guess I will take a deep breath, and let it go."


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## Jake P (Jun 1, 2021)

I'm afraid to ask!


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## Christianstark (Jun 1, 2021)

Ok. Just checked a DM with Springer from a week or so ago. Yes, it was the mill that was delayed. Lathe is still on track for late August.

Thanks David for keeping my head on straight!


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## 7milesup (Jun 1, 2021)

Christianstark said:


> Thanks David for keeping my head on straight!


I dunno man.... I think Jake was asking you the questions and you answered with a "Dave".  Might want to re-check the 'head on straight' thingy.  LOL:***** slap:


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## Jake P (Jun 1, 2021)

Christianstark said:


> Ok. Just checked a DM with Springer from a week or so ago. Yes, it was the mill that was delayed. Lathe is still on track for late August.
> 
> Thanks David for keeping my head on straight!


Maybe we are not on the same order, as my invoice says the 1340 is due at PM early to mid July.  Like I said, I'm afraid to ask with all that is going on in shipping right now.


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## wrmiller (Jun 1, 2021)

Tipton1965 said:


> Why are you wanting to sell your machines?  Are you upgrading?



No. I don't want my wife to have to deal with this stuff after I'm gone.


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## Christianstark (Jun 1, 2021)

Par for the course...not sure why I thought David Best posted that. Could we blame it on bad eyes and a small phone instead of my slipping faculties? Lol


7milesup said:


> I dunno man.... I think Jake was asking you the questions and you answered with a "Dave".  Might want to re-check the 'head on straight' thingy.  LOL:***** slap:


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## Jake P (Jun 1, 2021)

wrmiller said:


> No. I don't want my wife to have to deal with this stuff after I'm gone.


I sincerely hope that this is planning for retirement and not something else.


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## mikey (Jun 2, 2021)

wrmiller said:


> No. I don't want my wife to have to deal with this stuff after I'm gone.



Please tell us that you're speaking in general terms and that there is nothing to worry about here, Bill.


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## Jake P (Jun 2, 2021)

Well, I went and asked 

Christian is right, the 1340GT order as well has been delayed to the end of August.  

It’s a bit surprising to me that in all of the communications I’ve had with them recently regarding order changes, and all of the changes made to my invoice, that the expected date was not changed when they knew it.  Why not just be up front with this?

So now it looks like mid to late September before I see it at my location.  Oh well, it’s summer time in the north and I should be outside and not in the shop.


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## Christianstark (Jun 3, 2021)

Holy $&@! I was right about something?!?!


Jake P said:


> Well, I went and asked
> 
> Christian is right, the 1340GT order as well has been delayed to the end of August.
> 
> ...


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## Jake P (Jun 3, 2021)

Christianstark said:


> Holy $&@! I was right about something?!?!




However, I sure wish you had been wrong


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## mksj (Jun 3, 2021)

Well it could be next year like the semiconductors, it is a continuously moving target and they would have to be updating (disappointing) people probably every month due to delays beyond their control. One reason why I mentioned the higher resale value on something like a used 1340GT. If someone wanted a tricked out 1340GT and 935 mill there is always bill's  (wrmiller) machines.


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## Jake P (Jun 4, 2021)

mksj said:


> Well it could be next year like the semiconductors, it is a continuously moving target and they would have to be updating (disappointing) people probably every month due to delays beyond their control.


Mark, from my perspective I would rather know about such delays when they happen.  It's a disappointment either way.  

PM has the following statement at the bottom of each page of the ivoice:
20% cancellation penalty would apply to any backorder, unless over 21 days late - then no penalty

Perhaps the idea is to not disclose delays for as long as possible in order to avoid cancelations?  The longer you don't know, the closer you are to the new date?

They have already shipped my micrometer stop to you for the VFD conversion and had shipped the VFD to me.  They should know that I am "invested" in this product and the process.

I know that these things are outside of their control and I totally understand their position in this situation, and so far my dealings with them have been very good.  And they have a stellar reputation here as well.  I just don't like being left in the dark about something like this.  Just doesn't seem right to me.

As Christian said in his post I quoted above "I guess I will take a deep breath, and let it go."

But I do hope they read this and reconsider their policy.  That's my .02 cents.


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## mksj (Jun 4, 2021)

Jake, I agree with you, but we are in very unusual times, delivery dates are very unpredictable and it is hitting all forms of manufacturing. My experience with other vendors has been no better, when I ordered some parts for repair I was quoted 2 weeks and when I checked on the order that I placed, they then told me 3-4 months. I ended up making the parts I needed.


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## wrmiller (Jun 4, 2021)

Maybe the added delays were unknown to your vendor at the time of purchase? As mksj said, these are unusual times.


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