Buy Jet 1024 Metal Lathe Yes/No

[Ghost Creations]

This is my first Lathe and I want to know what a Jet 1024 is worth?
I am a machine Maintanece guy, and used a Griz 12" 36" in shop. The Jet has ben sitting for 20+ years, all greased up so no rust. The guy that had it 20 years ago was a Machinist, and used it a bit, When the guy died the house and all contents was sold to my Father in law. Nex door neibor came over cut all the wires, and belts and took the motor off the Lathe, but Father in law got it back, Today 20 years later he is in bad helth and said He wants to sell it, I want to buy it, he wants $1000.00 for it. I think in the condition it is in I can fix fairly easy, and other than the wiring and belt in great condition, needs Cleand of all old Grease, and re oiled. Has a lot of extras. So from what I described what do you guys think it is worth? I have a good michanical aptitude so I can fix anything or rebuild anything on it. erea 1970s

[justanengineer]

Price/value depends largely on location, so it helps to know where youre located at. In the Northeast, $1000 is rather high for a Jet, but Im sure the members in the Southwest might think its rather low. That being said, its your father-in-law and he's in poor health, so I wouldnt be dickering too much unless you really hate the guy.

[radkins]

No, not for a thousand bucks, take a look around!

[lynnl]

Well you know your situation best. But a fan of familial financial transactions, I definitely AM NOT. Too easy for one party or the other to develop regret and bitterness.

But, having said that, I'd compare against a new equivalent package, factor in what this one needs, and go from there. If it's at or below, say 50 - 65% of cost of new, I'd jump on it.

[Ghost Creations]

I live in Washington State: What would be a good price for it.

Price/value depends largely on location, so it helps to know where youre located at. In the Northeast, $1000 is rather high for a Jet, but Im sure the members in the Southwest might think its rather low. That being said, its your father-in-law and he's in poor health, so I wouldnt be dickering too much unless you really hate the guy.

[alanganes]

Not exactly answering your question, but:

Not sure of value in that area, but I have one of those lathes, though a bit newer, '81 if I recall correctly. Mine was made in Taiwan and actually is a pretty nice machine. It is quite beefy for a 10 x 24" machine and considerably more rigid than the typical small asian lathe. Seems to have noticeably better fit and finish than the currently manufactured Chinese versions I've seen in person.

That said, it does show some of the traits of asian machines. Some play in the feed screws, etc. No worse than my old american made machines, but you cannot close your eyes and imagine that you are running a new Hardinge.

The biggest complaint I have had is the crummy motor and the somewhat soft steel used in some of the gears. Mine came with stripped teeth due to someone starting the carriage feed with the carriage locked. I got it cheap in part due to that and was able to fix it. Not such an issue if you do not do stuff like that...

I am planning to replace the motor with a 3 phase/VFD setup when I have the chance.

I have used mine for 20+ years and did not feel compelled to sell it when I got my Sheldon. Use it all the time.

[Dr Stan]

No, not for a thousand bucks, take a look around!

Absolutely not for $1000.00. For $100, maybe. One of the issues, in addition to poor quality, will be the availability of parts. Jet is simply a name slapped on the face of the cheapest machine of the size Jet wants to sell, even more so on their low end machines.

You'll also find that Chinese motors are of extremely low quality. In general Taiwanese are a little better and Japanese are world class.

[Scottike]

A new Grizzly 10x22 goes for $1195.00 (FOB Bellingham). $1000 for a comparable sized Jet /w no motor and hacked up wiring? I don't think so. Even if the Jet is a better machine, it's not that much better.

[T.Hoffman]

For $1k? No way.

If everything was fully functional, and in very nice shape I could see maybe $6-700 tops if it came a lot of extras....

Is that Jet 1024 the same as the Enco?

[Black_Moons]

http://www.grizzly.com/products/10-x...al-Lathe/G0602

Thats a new 10x22 for $1200. So no, an old one with hacked wiring, unknown condition motor, and who knows what else wrong with it, is totaly not worth $1000. Tell him to put it on craigslist and when it does not sell, you'll offer him $350. If he whines, say $400 is your final offer.

Without knowing how to inspect it, and without having additional machinery (or access to it) to remake/fix parts, you could very easily end up with an expensive boat ancore.

Or it might have bad spindle bearings, or something else that will take serious work and money to fix.

Other stuff might be missing and cost you hundreds of dollars to replace: like, the dozen or so change gears REQUIRED for threading, the steady/follow rest, Tailstock, etc. The controls could be damaged or ruined, and choping all the wires off is yet more work.

I would'nt pay $1000 for a 1 week old 10x24 (or 22) lathe with everything included fresh outta the shipping box. More like $800 tops.
Definately don't pay it for a 20+ year old unused lathe, with god knows what internaly rusting away that they did'nt grease, and parts missing/removed/salvaged/broken.

Unless you are rather experianced in lathe use, it will be near impossable for you to judge wear/bearing damage/etc as well.

Also note that compaired to the 12x36 you have used, a 10x22 is a tiny little toy. the $3000 a 12x36 costs new is far more then 3x the lathe a 10x22 is, because of the mass and rigidity, quick change gearbox, camlock spindle (of newer 12x36), independant feed/thread drive (Very important to prevent common every day use from screwing over your threading accuracy), and complete accessory set (Change gears (Even if the QCGB makes em near obsolete), steady, follow, 3 and 4 jaw chuck, etc etc)