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Buyers market for lathes?

D

Dave H (MI)

Well-known Member
Every time I am looking for something I get told this...buyers market. So this lathe comes up for sale and there is no way I can get away to look at it until the weekend. Called the guy to ask some questions, he says that he thinks he has it sold but will post it sold on Craigslist if the sale goes thru. Has a second guy in the wings and I am number three. The price was $1850 and he sold it 2-3 times in less than 24 hours. Link attached...is this a good price for this machine? Thinking it is 1960s vintage. Just trying to get a feel for value on these machines. I would have offered less but clearly would have been shown the door. :)
Logan Lathe
 
I'm not familiar with Logan's, but that compound rest looks strange. Is it for sure adjustable for angle ?

Looks like it may have had a taper attachment at one time.
 
WAS a steal...lol. I'm thinkin if I am third on the list in less than 24 hours I should have moved faster if I wanted it. Sure looked nice. Still learning...
 
Could be one of those guys who's always got a buyer to keep the price up or trying to pull a reverse auction!! I have had a few of those, funny, one I walked on had the item up for sale for months after!! #2 called me back and wanted me to buy as bidders/buyers #1-3 backed out!!! Told him I bought one already and if they didn't take it I probably wouldn't either!!
 
I dunno what that extension with the slot is on the far side of the lathe. The logans i have seen have similar compounds. As far as i know they are adjustable for angles.
 
nice lathe, but 3 ph power would have been a deal breaker for me. I've been looking for a good lathe as well. good ones are hard to find here. good luck.
 
Hard to find one single phase. I got a lot of good advice on this last night here. Not shy about going there.
 
That was a fair price. The tooling, and live center is probably worth 5-6 hundred. Don't feel bad something else will come along, be patient. I'm usually a day late and a dollar short on things sometimes myself. Stan
 
You would have owned it a fair amount longer than a week! They don't move that fast when you get up in that price point.
 
I've only been looking a few days. If longer I would have known better and it would be locked up. Should have called yesterday.
 
Nope. Asking was $1850 and with two more names on the list I doubt there was a lot of dickering. Honestly, it was almost too pretty for me.
 
Dave the medium size lathes sell fast. I found you can by the bigger lathes for pennies on the dollar as guys can not fit them in most basements. I would call the one in your picture a small to medium sized lathe.
 
"I would have offered less but clearly would have been shown the door."

Not necessarily. I offered a guy less on an item, not a lot less, just
a reasonable offer and he said "I can't take less, I have three guys
waiting to look at it." I countered with "They're waiting to look and
might not take it after they look. I'm here with cash and a trailer."
He accepted the offer.
If it's fair to both buyer and seller, it could work out.
 
I think the machinists forum called that model Logan a high end hobbyist machine. Not really meant for production but very beefy for casual use. Works for me. I have plenty of room but still want a medium sized machine.
 
It happens. I've done it. What I am getting out of this is a good medium sized machine in good shape, really clean, with tooling is going to go pretty quick if it is priced right. I kinda thought this one was over a little but I guess not. The same machine at auction would probably not bring that, but who knows with on-line auctions these days. Live and learn. I probably would have pulled the trigger but I have some other items on the horizon.
 
I gave about that price for a smaller Logan, but it had more tooling. That looks like a real nice one.
 
If you have a machine shop or two in your town, you might stop by and let them know you are looking for a lathe. you never know what will turn up. Stan
 
Not sure it is that great of a deal. The only tooling is 3 cutters besides the one on the machine. The rest are just more of the holders for the quick change tool holder. I would want a steady rest for longer things like combine shafts and such.
 
Seems high to me ? but then I haven't been in the market for years either. When I was I gave up on used junk and got a new import. Looks like part of a taper attachment to me ?
I can't believe these ads. Doesn't even put the price in it ! Maybe he is running a best offer type of deal ? Best offer over the next guy ! I call that an auction. It may still be available don't be surprised if you get a call back on it either .
 
Go to wttool.com ( wholesale tool )they are even based out of Michigan so may even have some on display ?
They have some new ones at prices not much more than the used ones out there. I have bought lots of tooling from them over the years too. So a good place to know of once you get a lathe.
 
Try Vanderziel machinery in Alto Mi. near Grand Rapids. Very Good honest people to do business with. 616-340-1219 or vanderzielmachinery.com
 
(quoted from post at 17:05:54 03/06/19) WAS a steal...lol. I'm thinkin if I am third on the list in less than 24 hours I should have moved faster if I wanted it. Sure looked nice. Still learning...
Click to expand...

How would you have gotten from third to first on the list?
 
Dave, I have used the Phase-A-Matic static boxes for years, running automatics and engine and turret lathes. They work just fine, go for the heavy duty. Very simple to wire. I use rotary converters for my CNCs.

Several guys are nuts over the VFDs. I suppose they have a benefit in some cases but most lathes have their own speed changes.
 
(quoted from post at 23:52:22 03/06/19) Every time I am looking for something I get told this...buyers market. So this lathe comes up for sale and there is no way I can get away to look at it until the weekend. Called the guy to ask some questions, he says that he thinks he has it sold but will post it sold on Craigslist if the sale goes thru. Has a second guy in the wings and I am number three. The price was $1850 and he sold it 2-3 times in less than 24 hours. Link attached...is this a good price for this machine? Thinking it is 1960s vintage. Just trying to get a feel for value on these machines. I would have offered less but clearly would have been shown the door. :)
Logan Lathe
Click to expand...
It's a seller's market for a nice lathe like that. Perfect size for 95% of everything the average guy needs to do. He could easily hold out for $2500. The only down side I see is that cheap Chinese quick change tool post holder. Aloris is the standard in the industry.
 
So if that many buyers are wanting it, it is a sellers market. "Buyers market" is when several are trying to sell and no one is buying. Buyers can name a lower price.

"Sellers market" several buyers and few sellers.

The market is named by the one the market favors. In your case on lathes everyone wants so the seller is favored.

Thence Sellers Market.
 
My son has been getting lathes for giving them a home. He had a huge one with lots of tooling. Some one gave him a middle size one also with tooling and quick change gearbox. He scrapped the first one. They were both single phase too.
 
Don't be afraid of the 3 phase. The converter for this bridgeport only cost me $50 and It also powers my 3 phase tire balancer.

cvphoto15625.jpg
 
I have one of those in the SCSU lab. They are a fine lathe. That looks good with the tool change tool post. good price. Jim
 
Looks nice for the money. Part of the fun is cleaning and painting them but that is already done. It looks to have part of a taper attachment but not all parts. You can buy individual tool holders for that system on eBay. That would be in the ball park of what you want for price.
 
....Several guys are nuts over the VFDs. I suppose they have a benefit in some cases but most lathes have their own speed changes.
Click to expand...

The speed change on the VFD is far handier than what most lathes, and many mills have. Just turn a knob, just like volume on an old radio.

Tool chattering? Just twist the knob to see if different speeds will stop it. Without a VFD you have to stop the cut, shift the gears, start it up again and see what happens.

Static phase converters are pretty much obsolete with the availability of low cost VFDs and inverters. I honestly can't think of one benefit to using one over a VFD. I tossed the phase converters for my mill and lathe over 5 years ago.

I tossed the single phase motor on my bandsaw and replaced it with a 3 phase motor and VFD. No more changing the belt to go from cutting soft to hard materials. Instead of having just 4 speed choices I have totally variable speed control.
 
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