Not really very practical if lifting the lathe more than a few inches above the floor, I have seen the straps shift in particular with top heavy lathes. You want assistants hanging on as the lathe is lifted in the air....
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Usual recommendation is a secured D-Ring near the headstock, otherwise a fork loft under the base if just for removing from the pallet or getting it into position. Too often I have seen people use skates under the corners, only to have one slip out and the lathe tumble over, same goes for blocks under the ways. Since the lathe base is one piece cast iron bolted to the ways, it is going to be about as rigid as one can get and even more rigid the closer to headstock.
<p>The Crosby HR125 Hoist Ring is a rigging lifting product with a Working Load Limit of 7000 lb. It has a 3/4-10 X 3.50 size and is designed by the Crosby brand. The product is a hoist ring that can be used in various industrial applications.</p>
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I had to do a similar lift with my knee mill to get it up a steep driveway onto a trailer when moving, over 30' up on the factory lifting ring. Never thought much about it until years later someone else asked me why would they have a 0.45T rated lifting ring for a 1T mill. Needless to say it got replaced, fortunately the the working load is something like 1/10 the the failure load.
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Manual states:
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