- Joined
- Jan 3, 2013
- Messages
- 78
When looking at used machinery, the first task is to determine the cost of a similar machine equally tooled that is NEW. If the used machine is in excellent condition and I want or need it, a priced at one half of the new value is the maximum offered.
Wear or damage subtracts from the 1/2 price offer. To find a comparable model look at ENCO, Grizzley or any one of the fine perveyors of machine tools.etc. A new machine has: NO wear, a guarentee, and spare parts can be obtained. These facts have substantial value attached.
Many times I have seen people get caught up in the "What a Deal!" concept and make a purchase in haste. Especially at an auction. Then after the money changes hands finds for example, that insufficient room exists in the shop to put it. Or an electrician needs to run a new service because there is no room in the panel for additional breakers. Or the machine is actually too small for the work that needs to be run off, well you get the picture.
However a few years ago I was called and asked to take a look at a Seneca Falls lathe. Upon arriving at the specified address, I saw a machine that was in rough shape. I asked how much are you asking? She said, "I want this thing out of my garage!" I dissasembled it, put it in the van and didn't look back. I restored it to full operational condition, scrounged additional tools for it. Built a Milling attachment. Wrote a operating manual, and sold it for a very reasonable price to a fellow that wanted a Lathe for his 14 year old son to start on. That was worth the work!
Wear or damage subtracts from the 1/2 price offer. To find a comparable model look at ENCO, Grizzley or any one of the fine perveyors of machine tools.etc. A new machine has: NO wear, a guarentee, and spare parts can be obtained. These facts have substantial value attached.
Many times I have seen people get caught up in the "What a Deal!" concept and make a purchase in haste. Especially at an auction. Then after the money changes hands finds for example, that insufficient room exists in the shop to put it. Or an electrician needs to run a new service because there is no room in the panel for additional breakers. Or the machine is actually too small for the work that needs to be run off, well you get the picture.
However a few years ago I was called and asked to take a look at a Seneca Falls lathe. Upon arriving at the specified address, I saw a machine that was in rough shape. I asked how much are you asking? She said, "I want this thing out of my garage!" I dissasembled it, put it in the van and didn't look back. I restored it to full operational condition, scrounged additional tools for it. Built a Milling attachment. Wrote a operating manual, and sold it for a very reasonable price to a fellow that wanted a Lathe for his 14 year old son to start on. That was worth the work!