OneWay 1224 - Need some opinions...

[Joe Scarfo]

Summary...
I lost my 1200 sq ft shop to a fire last June and I'll be getting about 10 cents / dollar at retail value of my tool losses. I won't have a new shop to putz in till late spring..

I miss turning stuff so I've been shopping for stuff easily moved in and out of the basement... I recently picked up a little jet mini variable speed for pens and small bowls, but I did want bigger...

I found a Oneway 1224 on the other side of the lake michigan which will cost about $1100, including gas, to fetch.....


The Question...
Do you guys believe that I can re sell this lathe to recover all $1100 of the cost? I know new retail is about $2500 so I suspect the answer is yes.. But still I want to be sure... insurance money is tight...


The Plan...
I hope to find a friends garage to store an Onyx 3520B into until next spring... once the new Onyx is set up, the Oneway will be sold... that is unless the LOML wants it kept.. shes into turning too... big time.. but is living in Ft Worth for the next few years for a work project. It would be a fun back up for her to use when she's in town..


Thanks Everyone

[Ken Fitzgerald]

Joe....I am unfamiliar with the lathe and can't advise you......but I am sure sorry to hear about your shop fire!

[Marty Eargle]

Sorry to hear about the fire. If I were closer...I'd gladly keep your Onyx in my shop for a few months. Though you might not get it back.

Resell really depends on the condition. If it's in good condition or you think you could get it there...it's probably a smart buy. Hopefully you'd get to hang on to it!

[Gary Max]

That is a very well built lathe and a good price. Right now resell is way down, I would not count on being able to get your money back.

[Jim Burr]

Keep 'em both for twice the fun! Besides...gotta keep the wife happy!

[Richard Allen]

You are going to love the little Oneway. That lathe is a dream to use. Everything about that lathe works exactly as you would expect. The only disappointment is that the lathe get out of your way so much that you forget the lathe is there when you are turning on it. The Powermatic is a very nice lathe but will feel clunky next to that little Oneway. The capacity of the Powermatic will more than makeup for "clunky" feel. BTW the "clunky" feel has mostly to do with the size. Working on a 12" lathe like the Oneway , everything works smooth and is light and effortless. The Powermatic has weight and presence, everything works great it's just that there is the mass of of a 20" lathe that is "clunky" compared to a well make 12" lathe.

Resale? The Oneway 12" lathe at $1100 is a steal. There is a very good chance that you could get more for it in a few months. There is also a very good chance that you will want to keep it.

[Jon McElwain]

As always, the condition of the lathe is the deciding factor when it comes to value. If it is in pristine shape and not super old (say less than 5-7 years), I see no reason why you might not be able to actually make money on the lathe. That is not a guarantee of course, but I have seen used 1224's go for more than that.

The quality of the lathe is really high. I have a 2436, and it is a Cadillac to turn on.

Also, really sorry to hear about your shop. I had a pipe burst and spray my shop with 190 degree boiler water for three days while I was on vacation a few years ago. 20 years worth of tools collected were no more than a big rust pile.

My advice (I know it is retrospective for you at this point) is to make sure your insurance is "replacement value" insurance. If it is, they will buy you a brand new item, not just give you some money for what that item was worth prior to the damage (aka 10 cents on the dollar). If you are reading this thread and have a shop full of tools, call your insurance agent now and make sure your insurance is "replacement value." It only cost a little bit more, but it will save you HUGE if your tools are ever damaged. Also, make sure your insurance "per item" coverage is enough to cover your most expensive items. Some policies limit the per-item coverage to $3000, $5000 etc. If you have one of these $6000 lathes (or some euro slider etc.) they will pay you only up to the maximum per-item coverage but not more.

Also, if you have made even a dime by selling items at a craft fair or any other business venture, your homeowner's coverage will not cover the tools. If you make any money at all with your tools, make sure they are covered under an appropriate business policy.

Last thing. The replacement process can take a long time. Be patient.

Don't ask me how I know all of this!!

[Scott Brihn]

$1,100 for a Oneway 1224 is a terrific value. It is such a good deal I would double check to make sure it works as intended. I bought one this past Spring for considerably more and thought I bought value. It is a wonderful machine to turn on and when I move up to a larger machine the 1224 will stay in the shop.

[Pete Jordan]

I am thinking it is too good of a deal. I live in Michigan so I would be willing to save you the gas by picking it up myself:)