Great time an labour saver if you have anything more than 5 or 6 components to do from same size round stock. Assuming you have the correct size collet.
As it owes you nothing I'd consider it a keeper and start looking for useful to you size collets at suitably economic prices. As ever wit tooling tho' its a question of budget prioritories as no one can afford everything on the wish list.
With only one collet its unlikely to sell for seriously useful money. Generally this sort of thing does better as swop fodder.
Clive