Help needed to price a Myford lathe going for sale

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Help needed to price a Myford lathe going for sale

Home Forums Help and Assistance! (Offered or Wanted) Help needed to price a Myford lathe going for sale

Viewing 13 posts - 1 through 13 (of 13 total)
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  • #796910
    Mick Durkin
    Participant
      @mickdurkin69889

      Hi All,

       

      I hope this is a reasonable forum to ask this question. I apologise if it isn’t.

       

      I have a Super 7B which I will shortly be putting up for sale, but I have no real idea of its worth.

       

      I will include a list of what I have to sell below and would be grateful if the forum would be able to give me an idea what I should be asking for it.

      I am not sure where best to offer it for sale. I am a bit wary of the big auction site, even though it has the best coverage. I am also aware of the http://www.lathes.co.uk “For Sale” site, which has a smaller, more savvy clientele. Are there other places I should consider?

       

      BR

       

      Mick

      —————————————-

       

      Myford Super 7, B model with quick change gearbox, non-power cross feed

      Myford industrial stand with splashback

      Newton Tesla VFD and motor

      Metric conversion gear set

      Fixed and travelling steadies

      3 jaw S/C chuck, 4 jaw S/C chuck, 4 jaw independent chuck

      ER25 and ER32 spindle mounted collet chucks

      Hard, soft and live centres

      Keyless drill chuck on 2MT shank

      German AXA Multifix style tool post

      10 plain toolholders and 5 v-slotted boring bar toolholders (AXA)

      Myford swiveling vertical slide with small vice

      Rear mounting G H Thomas parting tool holder with tool blades

      2 Myford supplied oil guns

      Hemingway carriage lock

      Hemingway “Tubal Cain Gibraltar” toolpost

      7” and 9” faceplates

      2 drive dogs with dog drive plate

      Spare chuck backplate

      2 spare change gear bush/spindle/studs

      2 spare 2MT blank arbours

      Spindle hand winding handle

      Spare Carriage wipers

      Spare spindle Brammer belt

      Myford spanners and spindle bearing C-spanner

      Through spindle drawbar and brass nosed through spindle extractor drift

      Cross slide mounting ball turning tool

      Set of 3 taps plus circular die to cut/clean 1-1/8” x 12 tpi BSW threads to suit the spindle thread

       

       

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      #796938
      Diogenes
      Participant
        @diogenes

        It’s difficult to give an estimate because the value is almost entirely dependant on condition – whilst ‘extras’ will sweeten a deal, or help swing a buyer’s decision between several lathes at similar price-points, it’s the amount of wear, tear, and care that the lathe has seen that sets the value particularly with Myfords where cossetted examples are not uncommon.

        A picture or serious discussion of condition would be helpful…

        EDIT; apologies does that read a bit ‘funny’ – it wasn’t meant to! 😊

        #796944
        Mick Durkin
        Participant
          @mickdurkin69889

          Hi,

           

          I appreciate that condition is important. I have an exensive set of photos which I intend to include when I place a For Sale advert, but thought that not appropriate here.

           

          The lathe was bought as a factory rebuild at Beeston in about 2002 and has only seen light hobby use since, so it is in fair shape having never been abused. The list is extensive as that is all my Myford stuff and I don’t want to mess about selling in batches.

           

          Some of the stuff is “sweetner” for sure, but I would consider things like the motor, stand, genuine Myford accessories and the high quality toolpost as of real weight in the sale.

           

          I am mainly insterested in what ballpark I should consider and which would be the best way to sell.

           

          BR

           

          Mick

          #797261
          Adrian R2
          Participant
            @adrianr2

            Well as this hasn’t attracted much attention I’ll state my untried opinion:

            – lathes.co.uk seems good value for advice on price and hopefully would attract a more discerning buyer.

            – The big auction site works best for things that can be delivered, so consider uplift/transport, ideally you make it so all your buyer has to do is click and pay. Buyer now pays fees and offers are a thing so you can start high and test the water, still a lot of scammers and timewasters.

            – You could send your list to a dealer to establish a base price and then add your own margin.

            Or you might get lucky and someone will message you on here with an offer (not me).

            An interesting thread _might_ be “what have you sold recently and how?” – there are periodic queries on here as to how to dispose of workshop equipment, follow-ups with what they actually did and how it worked out are less common.

            #797271
            Clive Brown 1
            Participant
              @clivebrown1

              There’s a fairly active Myford owners group on Facebook. This type of question seems to come up regularly. Alternatively, Ebay shows prices of “completed” sales which can be helpful.

              Looking at some s/h prices, I get the impression that the present market is not too strong.

               

              #797280
              SillyOldDuffer
              Moderator
                @sillyoldduffer
                On Mick Durkin Said:

                I am mainly insterested in what ballpark I should consider and which would be the best way to sell.

                It’s worth what someone else is prepared to pay for it, so the problem isn’t the “ball-park” value, it’s finding a customer.   There are several scenarios:

                • You are the executor of a will who needs to close an estate quickly, and it includes a workshop full of mysterious tools, materials and half-finished projects.  You have no idea what it’s worth and don’t care!   Fast exit options:
                  • Dump the lot in a skip and pay to have it removed  (yes, this happens!)
                  • Sell it as scrap. (value of the metal by weight only)
                  • Sell to a house clearance firm.  (they pay rock bottom prices)
                  • Sell to a dealer.  (Mildly better prices, up to half what might be got privately.)
                • You want to maximise the payoff, but need a reasonably quick sale, and don’t want to put much effort in.  Best way is to auction it, and the more people who see it the better.  That means ebay, amazon, gumtree etc.   There’s no need for a “ball-park” value because the bidding will take the price up.  How high depends on the state of the market, which varies wildly, but I’d expect this Myford with accessories to do well.  People who buy Myfords are generally happy to pay over the odds!  I’ve no idea what the “state of the market” is at the moment – things like the threat of tariffs make people nervous of spending money, whilst the threat of inflation encourages them to swap money for goods.   In May 2025. should a 55 year old man spend his redundancy money on a lathe or should he save it because his financial future is bleak?
                • You want to maximise the payoff and are happy to put effort in.   The answer is also an online auction, but break the sale into many parts.   Most customers want just a lathe, or just one of the accessories, than those wanting an entire workshop.  But maximising the money requires the seller to run many auctions, which is time and hassle.
                • You want to maximise the payoff, don’t want to pay auction fees, and don’t care how long it takes to sell.  Advertise on this and other websites, in the magazine, and anywhere else you can think of.   This does need a ball-park value.   I suggest checking dealer and lathes.co.uk prices for similar equipment and add 10 or 20%.  This chap deals mostly in Myfords.   Expect to have your patience tested – dealers and others are likely to offer much less in hope your nerve has broken!

                In considering “ball-park”, remember buying retail has many overheads.  Dealers pay wages and tax, auctions charge fees, and they all take a profit.   That the government takes 20% in VAT doesn’t add to the value of the product!  If you set a ball-park value, don’t get upset if customers refuse to pay : expect to negotiate.

                I won’t suggest a price because I’m in the group who think Myfords are overvalued.  They’re good, but not that good!  But that’s just me, plenty of Model Engineers happily cough up big money for a Myford. I bought a lathe to cut metal, not as an investment or to celebrate Britain’s industrial heritage.   And, I deliberately don’t care if my workshop ends up in a skip when I’m gone – I’ve told my kids not to worry about it’s value when I’m gone.

                Dave

                 

                #797281
                John Haine
                Participant
                  @johnhaine32865

                  Dave hits the nail on the head.  Ebay is your friend even though they charge the seller.

                  #797283
                  Clive India
                  Participant
                    @cliveindia

                    Mick, i would compare it to ones on sale.
                    As Dave says, it depends on the condition and your circumstances.
                    Compare it against the one on this site….
                    http://quillstar.co.uk/

                    I have found this to be a genuine trader but who knows?

                    Yes, ebay is the best option for selling at auction on the web because of the exposure.

                    For me – I would sell it to a trader if possible – it’s usually cleaner and swifter.
                    Bear in mind a trader can only give you two thirds at best of the figure he is going to sell it for – less if it needs work.
                    He has to make a living. VAT complicates that but it’s the reality.

                    #797284
                    Tony Pratt 1
                    Participant
                      @tonypratt1
                      On John Haine Said:

                      Dave hits the nail on the head.  Ebay is your friend even though they charge the seller.

                      eBay does not charge private sellers atm.

                      Tony

                      #797286
                      Tony Pratt 1
                      Participant
                        @tonypratt1

                        As always my advice is to look at eBay sold listings to get a ball park figure for current prices, dealers are quick but rock bottom prices. Facebook market place, also Lathes .UK are an option.

                        Tony

                        #797353
                        Clive Brown 1
                        Participant
                          @clivebrown1
                          On Tony Pratt 1 Said:
                          On John Haine Said:

                          eBay does not charge private sellers atm.

                          Tony

                          Strictly true, but it perhaps depends on one’s perspective. eBay adds 4% + 75p to the  price which is called “buyers protection”, so the seller gets less than the buyer pays.

                          #797357
                          Andy Stopford
                          Participant
                            @andystopford50521

                            Tony at Lathes.co.uk will give you advice on asking price and how to phrase the advert – I found it worth the fee advertising there when I sold my Harrison.

                            edited to add: I see you have advertised it there already

                            #797386
                            JohnF
                            Participant
                              @johnf59703

                              Mick look at your messages !

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