Posted by Con Murphy on 27/10/2017 15:41:42:
Well this is why I came to the people in the know for advice I mean I would rather an old jap bike over the new Chinese stuff.
Much easier to decide when you know what your talking about again why I am here 
Edited By Con Murphy on 27/10/2017 15:42:11
Always a good idea to ask advice, but forum members can't see further through brick walls than you!
Condition is everything whenever you buy second-hand. Maker-names and country of origin are no more than a hint. Model names are more useful, for example you're not going to bother looking at plain lathes if you need screwcutting. You either need to look at what you're buying, ideally with someone experienced, or to buy it off someone you trust. Dealers will offer some form of warranty; a random ebay seller won't.
The advantage of buying a new machine is that it will be supported by the seller for both business and legal reasons. Usually when buying new, we only look at Far Eastern machines produced for the hobby market. Although not as 'nice' as much more expensive Western lathes in good condition they are capable of good work. I think you would be very hard put to tell the difference between a rod turned on a Myford Super 7 and similar turned on a Warco.
There could be a lot wrong with a second-hand lathe; shot bearings, worn bed, worn slides, dings and scoring in bad places, broken / missing gears, cracked or twisted frame, misaligned headstock, blocked oilways, faulty selectors, bent or worn leadscrew, sheared safety pins, broken half-nut etc etc. You could easily buy a crock.
On the other hand there are many genuine bargains out there. The reason is that schools, colleges, universities, R&D and much of industry have been dumping manual machine tools wholesale. Many of these machines come from clean temperature controlled workshops and were little used or well maintained. (A friend worked in a School with an Orac lathe which to his knowledge had never been used from new.) Get a good one and you will be a very happy bunny.
Thing is, can you tell the difference between a crock and a bargain? Now I've got a few years experience I'm much better placed than I was. Whilst a visual inspection reveals much, actually using the lathe is a much better test. You can listen to it, feel how smoothly the controls respond, see the result of alignment errors, confirm that nothing's loose, and see that everything works as expected. Trouble is quite a lot of second-hand lathes can't be powered up when you see them. Also the checks are much easier when you know what to look for, and experience is the best teacher.
Following an early bad experience I'm risk averse and bought new Chinese. They are straightforward to buy and delivered quickly with all bits present and correct. Two lathes and a mill have worked well for me and they came with a guarantee. Others have done better buying second-hand and a few have reported serious problems. We don't really know how many second-hand purchases are unsuccessful. People are far more likely to go public when they got a bargain than they are to admit they were ripped off.
Yer pays yer money and takes your chances. One thing I do regret is not making my mind up sooner. Having a lathe is much better than not having one!
Dave