Value of 15 yr old Jet 1642 lathe

[David Sloan]

I have just purchased a Powermatic 3520c and am selling my 1.5 hp 1642 which is in excellent shape. Unfortunately I don’t have room for both lathes. The new Jet 1640 is 3k but now on sale in places for 2.6k. I would think the 1642 would be worth 1.5 to 1.8 k. Wondering what you all think. Many thanks, David

[Don McClure]

Generally used equipment is worth about 50% of new. From this yiou need to subtract things like age, appearance and general condition and take in to account any accessories that are included. Asking 1.5 K seems high based on current new price minus age...just a starting place. Alays ask more than you'll actually take.

[Dwayne Watt]

While used machinery asking prices are still running high, they seem to be coming down now that new equipment is more readily available and freight costs have settled back down. In my mind, $1500 is very top end price but who knows. You can always lower your asking price or be willing to negotiate. How long are you willing to work around two lathes in your shop? FWIW, a new Griz 16x24 is $1525.

[David Sloan]

While used machinery asking prices are still running high, they seem to be coming down now that new equipment is more readily available and freight costs have settled back down. In my mind, $1500 is very top end price but who knows. You can always lower your asking price or be willing to negotiate. How long are you willing to work around two lathes in your shop? FWIW, a new Griz 16x24 is $1525.

Thanks Dwayne and Don, I am getting no takers at 1.7k. It’s such a good lathe. I think 1.5k would be a very good deal for someone. I thought it would go quickly. Very reluctant to let it go for less than 1.5 so might just have to make room for it!

[Zachary Hoyt]

I dropped out at $1550 in an online auction for a 2 HP 1642 in August 2021. I think the winning bid was $1600, and there was a buyers premium and sales tax. Prices have softened a bit from what they were, so I don't know, and this was in Syracuse NY, which may be different from your locale.

[Wally Crawford]

Sold mine about 3 months ago for 1500. I included a hand full of things that would not fit my new Robust. Multiple rests, face plate, drive center and a shelf I had built underneath with about 300# of sand in containers.

Just for clarification, the face plate and drive center would have fit the AB, but I figured the guy, a new turner, needed some things to get started.

[Ricc Havens]

Thanks Dwayne and Don, I am getting no takers at 1.7k. It’s such a good lathe. I think 1.5k would be a very good deal for someone. I thought it would go quickly. Very reluctant to let it go for less than 1.5 so might just have to make room for it!

A friend of mine here in North Central Indiana just sold a 12yr old Jet 1642 for $1700. It had a Robust brand banjo as the original Jet banjo had a cracked casting. And a homemade outboard turning rig used when sliding the headstock down to the end and turning larger diameter pieces. No other accessories were included (i.e. chucks, faceplates, tools, etc)

He had it posted on FBook market place and also sent the info to a couple area clubs in Indiana and southern Michigan. He was patient and didn't lower the price. Took a month but a guy drove almost 3hrs from Toledo, OH to buy it at listed price. He didn't have to rush as space wasn't a problem for him. But, he was prepared to drop the price if necessary with $1500 being his limit.

Your market may vary on price and how fast or slow something sells. But, depending on the extras you are including I would say $1500-$1700 would be a fair range. I would NOT go below $1500.

If you haven't yet done so, I would also suggest getting contact info for turning clubs in southern Indiana, southern Ohio, KY, and Tenn and send the info to them. (any club within a 3-4hr drive.) The guy who bought my friends lathe drove a ways from out of state to get it. And 4yrs ago I drove 5hrs to Wisconsin to get a PM350 that was within my budget.

Good luck!
Ricc

[Richard Coers]

I know of three of those 1642 lathes that sold for $1,000 and I got one of them, our turning club the second, and a furniture maker friend got the third. That's the price in Central IL it seems.

[David Sloan]

I know of three of those 1642 lathes that sold for $1,000 and I got one of them, our turning club the second, and a furniture maker friend got the third. That's the price in Central IL it seems.

Thanks for all the input. I have someone coming to look at it today. Asking 1.7k still. Am not selling it for less than 1.5 out of principle! So maybe I’ll end up keeping it. Garage is getting a little crowded though!

[Bill Howatt]

Thanks for all the input. I have someone coming to look at it today. Asking 1.7k still. Am not selling it for less than 1.5 out of principle! So maybe I’ll end up keeping it. Garage is getting a little crowded though!

Your principle might get costly. Price will continue to decline due to age, inflation will make the money you get later less valuable, it may get rusty in the garage, and if you aren't using it, what's the point?
You can also look at it this way, you got enjoyment out of using it for whatever the purchase minus the selling price is, and you might be helping a new turner get into the hobby.

[David Sloan]

Your principle might get costly. Price will continue to decline due to age, inflation will make the money you get later less valuable, it may get rusty in the garage, and if you aren't using it, what's the point?
You can also look at it this way, you got enjoyment out of using it for whatever the purchase minus the selling price is, and you might be helping a new turner get into the hobby.

Postscript:
Good points Bill but I just sold it for $1,700 cash. Person delighted with it, didn’t counteroffer. I will help him move it to his shop and I included a very nice tool/extra weight chest that fits perfectly on the leg shelf supports.Both of us are happy and now I have a place for the 3520C.

[Kevin Jenness]

It's worth what you can get for it. $1500 seems a bit high unless well accessorized. For comparison my General 260-20 with vfd and a number of accessories sold for $2k recently here in VT. https://sawmillcreek.org/showthread....dle-bowl-lathe If you have the room, stand firm and wait for someone who wants it. In my shop there's a high "this needs to go away" factor once a replacement gets in the door and bags up the space.

(edit) Congrats on getting your asking price. Machine sales can be funny. I replaced the General with a Oneway which came with an immense outboard bed including banjo. tailstock and 44" diam. steady rest. https://sawmillcreek.org/showthread....-turning-setup I wound up selling the outboard rig to an absolute novice turner who was intent on buying his last lathe first.

[Zachary Hoyt]

Great news, good for you.