Advice on selling a lathe (or maybe 2-3)?

[John Strand]

Hi all,

I just ordered a new Nova Neptune Max 55710. I can't wait to make some sawdust and shavings on it! It was a hard decision to pull the trigger on, but I got one of the last 3 units available from Teknatool directly, and I was scared that by the time a new batch ships (they estimate in August), the price will have risen substantially. So I bit the bullet.

Anyway, the only way I can justify parting with the money for the Neptune is to sell my current lathe(s). However, even though the Neptune will be my 5th one, I've never sold one before. Somehow, I just ended up collecting them.

I'm hoping someone might give me some good advice to get the best price I can out of what I have, within reason. I'm not looking to gouge anyone on the price. (I make no apologies for the admittedly questionable turning pun!)

Here's what I have to sell:
Jet JWL 1440 VSK 14x40 (including the legs, and mounted on wheels) - I picked this up used a year+ ago. An absolute beast! In great shape. I just replaced the bearings and belt and did some maintenance.
Grizzly G1067 14x40 - An oldie, but a goodie. Still works fine. I don't have the legs for mine.
Wen WEN LA3424 4.5 Amp Benchtop 12x18 - Works perfectly fine. Still a great choice for a beginner.

Alternatively, if I decided to maybe donate these (and take the tax deduction), would anyone have any suggestions of a worthy non-profit I should check out?

I'm located in Connecticut, if that makes any difference.

Thanks for any advice you can offer! I appreciate it.

John

 

[Steve Tiedman]

Selling outright- are you comfortable with 50% of new retail to move them on to a new home? That was a rule for a friend who used to part with machines he'd buy. The higher your price, it's possible the longer you'll wait. And then lower the price, and wait.

Donation, I don't know.

Sell- Craigslist, Facebook, coffee shop bulletin board...

 

[John Whitley]

Here's what I tried when I sold my Nova Galaxi last year to make room for a new lathe:

• Listed the lathe here, in the For Sale forum, and on my local club's forum. That has two problems: both of those venues are largely people who have lathes. As I later learned, they're good places for accessories like gouges, chucks, etc. but lathes seem to be a harder sell.. especially when considering folks mostly want to buy and sell locally. Also, my club's forum gets very, very little traffic but YMMV.
• Listed it on my local Craigslist. This is fine, but I wasn't really generating a lot of interest.
• Listed it on Facebook Marketplace. This is how it actually sold. I find it vexing, but I've been having more success here than on Craigslist lately, even giving CL a "head-start" of a week or more.

Good luck with the new lathe! I really liked my Galaxi.

 

[John Strand]

Selling outright- are you comfortable with 50% of new retail to move them on to a new home? That was a rule for a friend who used to part with machines he'd buy. The higher your price, it's possible the longer you'll wait. And then lower the price, and wait.

Sure. I think 50-60% is fair for secondhand in good shape. I wouldn't expect to get more than that unless the product was basically unused.

Here's what I tried when I sold my Nova Galaxi last year to make room for a new lathe:

• Listed the lathe here, in the For Sale forum, and on my local club's forum. That has two problems: both of those venues are largely people who have lathes. As I later learned, they're good places for accessories like gouges, chucks, etc. but lathes seem to be a harder sell.. especially when considering folks mostly want to buy and sell locally. Also, my club's forum gets very, very little traffic but YMMV.
• Listed it on my local Craigslist. This is fine, but I wasn't really generating a lot of interest.
• Listed it on Facebook Marketplace. This is how it actually sold. I find it vexing, but I've been having more success here than on Craigslist lately, even giving CL a "head-start" of a week or more.

Good luck with the new lathe! I really liked my Galaxi.

Thanks. I figured that was probably how it would go. I guess CL just doesn't reach enough of an audience, especially for a relatively niche hobby/passion/obsession like ours.

My next step is to go clean the lathes up and get some good photos for posting. Hopefully, they won't sit too long.

 

[John Whitley]

I guess CL just doesn't reach enough of an audience, especially for a relatively niche hobby/passion/obsession like ours.

FWIW, I'd absolutely list on Craigslist again. Copy and paste is easy enough, and you never know where an interested buyer will be looking. For online listings, I often just do one writeup then post it various places as needed. For example I might list something on CL as a "long shot but easier if it sells locally", then only later list on say eBay if I haven't sold it.

 

[hockenbery]

Take few photos. List anything that goes with the lathe, centers, extra tool rest, etc

Then send them to the local clubs within a couple hours drive.

There are always turners looking for a bigger lathe or sometimes an extra lathe.

 

[Kent Reisdorph]

Take few photos. List anything that goes with the lathe, centers, extra tool rest, etc

Then send them to the local clubs within a couple hours drive.

There are always turners looking for a bigger lathe or sometimes an extra lathe.

Or if donating, donate them to the club. They can use them or sell them for club funds.

 

[Fred Hargis]

Generally speaking, the 50% rule mentioned above is what I've used, not only when selling but when buying. There are exceptions, but it's a good place to start. But other factors like where you are (I'm very rural) play into it as well. While i did use CL for some time, lately Facebook Marketplace seems to be a bit more active.

 

[Kurt Manley]

I sell a lot on Facebook Marketplace and Craigslist. I restore furniture and vintage HiFi systems on the side.

My tips are..
1. Take clear, well lit photos of everything. All angles, all important parts.
2. Take a video of the lathe operating, adjusting the speed, turning it on and off, etc - you might know it's a good deal but nowadays people expect to see everything
3. Write a nice description that sounds personal. Include how long you've had it and why you're selling it
4. Disclose any issues in a forthright way in the listing
5. I would recommend that you accept Venmo - I would lose 60-70% of my sales if I didn't but for a lathe this might not be as big of a deal
6. You'll always get a lot of tire kickers and lowballers. Respond to everyone kindly except the people who offer you 1/4 your asking price in the first message. They will only waste your time even if you were willing to sell for that amount. Don't let that discourage you though, I've made many friends when they have come to buy something, most people are awesome.

I did just sell my Jet 1642 a couple months ago for right around 50% of new. It took a bit, maybe 2 or 3 weeks? I can't remember exactly. This might have just been my luck but I think I would have sold it faster if I had offered some tools with it, I had multiple people ask if tools were available. I think for your smaller lathes this might be even more beneficial since they are so well suited to beginners. If you want to sell them fast then price them lower than 50%.

Good luck!

 

[Ed Jarvis]

With the Tarrif war going on who knows what the price will be

 

[John Strand]

I sell a lot on Facebook Marketplace and Craigslist. I restore furniture and vintage HiFi systems on the side.

My tips are...

Thanks very much for the tips. I do intend to include some accessories (chucks and faceplates) with the lathes since they are all 1"x8TPI, and the Neptune is 1 1/4"x8TPI.

With the Tarrif war going on who knows what the price will be

That's exactly why I felt like I had to buy the Neptune now. If it's another 5-6 months before they are back in stock, there's no telling how much they'll cost!

 

[John Strand]

Thanks for the advice everyone. I ended up getting a buyer for my Jet JWL1440VSK through FB Marketplace within about a week. And they lived about 40 min away, so I delivered for free. I had forgotten just how heavy that SOB was!!! And that was even after taking it apart!

For anyone curious, I listed the lathe at $1500, and threw in a few faceplates, a 4-jaw chuck, and a couple of gouges. I took the first solid offer, which was $1250. To me, that was a fair price for both sides.

 

[Steve Tiedman]

Thanks for the advice everyone. I ended up getting a buyer for my Jet JWL1440VSK through FB Marketplace within about a week. And they lived about 40 min away, so I delivered for free. I had forgotten just how heavy that SOB was!!! And that was even after taking it apart!

For anyone curious, I listed the lathe at $1500, and threw in a few faceplates, a 4-jaw chuck, and a couple of gouges. I took the first solid offer, which was $1250. To me, that was a fair price for both sides.

Good deal, John! Now, what to buy with that cash???

 

[Terry Brown]

Would you really sell your lathes before you have the new Nova? They seem to have some problems; deliveries, bankruptcy, etc.

 

[John Strand]

Would you really sell your lathes before you have the new Nova? They seem to have some problems; deliveries, bankruptcy, etc.

Oh, that's right... I forgot to update... I have my new Neptune. I got one of the last three available in the US, apparently! I haven't set it up yet as I'm taking this opportunity to clean, rearrange, and upgrade my shop. I hope to have it up and running later this week. I'll post a review after I get a few hours of turning in.

 

[John K Jordan]

I prefer donating lathes and tools - selling is too much a hassle for me. There always people with minimal resources and who can make great use of them. I'm currently cleaning up a spare Jet 1642 (clean, lube, new paint, etc) to give to a turning program at a children's ranch our club supports. Already gave away two others - I started to get this strange idea that 5 lathes was too many for one aging person.

Sometimes I, and others in our turning club, offer tools, books, and wood in an annual silent auction. I've taken some, came home with others. The club treasury benefits.

 

[Jon Vates]

Little bit late to this thread - but thanks for sharing as this was a good read about what worked for you on selling an old lathe.
Will be taking this route quite soon.