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Thread: Buy Jet 1024 Metal Lathe Yes/No

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  1. #1

    Default Buy Jet 1024 Metal Lathe Yes/No

    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

  2. #2
    Join Date
    Nov 2010
    Location
    Lafayette Indiana
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    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.
    "I am, and ever will be, a white-socks, pocket-protector, nerdy engineer -- born under the second law of thermodynamics, steeped in the steam tables, in love with free-body diagrams, transformed by Laplace, and propelled by compressible flow."

  3. #3
    Join Date
    Sep 2008
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    No, not for a thousand bucks, take a look around!

  4. #4
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    Jan 2002
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    Huntsville Ala
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    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.

  5. #5
    Join Date
    Dec 2009
    Location
    Owensboro KY
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    Quote Originally Posted by radkins
    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.

  6. #6
    Join Date
    Dec 2005
    Location
    Sequim, Wa.
    Posts
    494

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    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.
    I cut it twice, and it's still too short!
    Scott

  7. #7
    Join Date
    Nov 2001
    Location
    SE Cheesehead land, WI
    Posts
    557

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    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?
    Last edited by T.Hoffman; 09-01-2011 at 12:24 PM.

  8. #8
    Join Date
    Oct 2004
    Location
    DFW Texas
    Posts
    906

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    Alanganes is spot on. I have two Enco lathes of that vintage, a 1024 & a 12X24. The 1024 has been my primary lathe for 5 years or so. The 12x24 I just bought - for $1000, with minimal tooling - 3-jaw, steady, tailstock drill chuck. I'll clean it up and sell it for $1300 here in N Texas.
    Both are very similar - stout machines, hardened ways etc. Parts are non-existent unless you are very creative, but between two machines it looks like the failures are:

    1 QC box gear - 24-tooth, easily duplicated or sourced.
    1 - motor (replaced with a Dayton unit)
    1 - power switch.

    Not bad for a combined 50 years of service.

  9. #9
    Join Date
    Aug 2007
    Posts
    436

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    That 10 x 22 Grizzly is only ~400 lb; the 10x24 Jet may be a lot beefier.

    If it is, and depending (a lot) on what the extra tooling is, I think $1 K might be OK.

  10. #10

    Default

    I live in Washington State: What would be a good price for it.
    Quote Originally Posted by 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.

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