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Value of a Nova DVR 3000?

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Forum topic by MackTheSaw posted 353 days ago 621 views 0 times favorited 8 replies Add to Favorites Watch
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MackTheSaw

38 posts in 488 days


353 days ago

Topic tags/keywords: lathe nova dvr 3000 used value

Hi all,

I know a cabinetmaker whose business partner recently passed away. The partner handled all the turning tasks for the business, and the guy I know has no interest in it. He has started a new business with a new partner, and they are doing phenomenally well already. (They just signed a contract on $700k in millwork for an apartment in the TriBeCa neighborhood of Manhattan.)

I’m a young woodworker. I make most of my money with custom cabinetry and furniture, though it’s not very much. I am also a hobbyist turner, and I mostly like to do bowls. I want to make an offer on the dead partner’s lathe, but I have three problems: 1) I don’t have a tremendous budget; 2) I don’t know the value of it with accessories; and 3) I have to get the living partner’s attention with a fair price, because he just doesn’t have time to deal with this.

He has told me that he only wants to sell it all at once. Here’s what I know he has:
—> Nova DVR 3000 lathe, approximately 5 years old, not heavily used
—> Duplicating attachment, don’t know details
—> Bed extensions to make it 8 feet long (so he told me—is this even possible?)
—> Stand that looks pretty heavy and sturdy
—> Outboard banjo support that connects to the stand
—> “All the chucks and drill chucks and stuff” (his words)
—> Tormek sharpener
—> Small cabinetful of tools (which I haven’t seen open, so I don’t know what’s inside)

How can I begin to guess what to offer him for this? Do you think $1500 is fair?

Many thanks,
Todd

-- http://www.mccollister.com/todd

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Karson

25803 posts in 1297 days


353 days ago

Well I believe that the price you are quoting is way under new price. But you never know what they will take. A fair price is what a willing buyer and a willing seller are able to agree upon.

-- What happens in the workshop stays in the workshop. No wait that doesn't sound right. Karson Southern Delaware karson_morrison@bigfoot.com †

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MackTheSaw

38 posts in 488 days


353 days ago

Karson,

Yes, I’m quite sure it is way under the new price. But I also suspect it’s a buyer’s market when it comes to lathes, especially lately with so many commercial shops closing their doors. Does my price seem so low as to be unreasonable?

-- http://www.mccollister.com/todd

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KnotWright

82 posts in 384 days


353 days ago

Todd, like Karson stated “A fair price is what a willing buyer and a willing seller are able to agree upon.” I know when I’m ready to sell a piece of my equipment, I already have an idea in my head what’s the lowest I’m going to settle for, and that comes from how long I’ve had it, and how big a pain it is to keep moving it around or stepping over it.

If the living partner has no use for it and its in his way, your offer of 1500 might be well over his “pain” threshold and you’ll have yourself a nice piece of equipment. The other thing you need to think about is, your budget and the return on your investment, how much turning will you do, and how much do you think you’ll be able to sell it for?

-- James

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bentlyj

788 posts in 366 days


353 days ago

Not sure if this is a 3000 or not but they have some pricing and accessories.
http://www.woodcraft.com/family.aspx?FamilyID=5485
Here’s you another place to look at pcs parts.
http://www.teknatool.com/products/Alternative_Product%20Main%20Page.htm#Lathes
Don’t know if this will help or not but give it a try if you like.

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MackTheSaw

38 posts in 488 days


353 days ago

Yes, James, I think you make a good point. I would expect to have this machine for a long time, so I haven’t really been thinking of the resale value of it. But I should.

I guess the biggest and most frustrating obstacle is that the living partner just doesn’t want to deal with it. It’s not really in his way, and the money must seem pretty trivial to him right now. He doesn’t return my calls, but I hear through the grapevine that he is still interested in dealing with me.

Bentlyj, the one they have at Woodcraft now, the XP, is the next generation and quite a bit more expensive than the DVR 3000 was when new. I think the DVR 3000 was around 1600-1800 new.

-- http://www.mccollister.com/todd

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bentlyj

788 posts in 366 days


353 days ago

Be patient, give it some time. If he’s to busy to deal with you right now then he’s not selling it to someone else either. Give him a few more calls maybe leave a message with an offer if you can’t reach him personally. At least he knows who to call when he does want to deal with it. I think 1500 is fair if that’s what they sell for new. Not sure ($$$) about all the accessories that would go with it. If your willing to spend 1500 for it, that’s what I would offer. I wouldn’t worry about him being insulted, if he is willing to sell it and wants more he will tell you, if you don’t end up with it, keep looking, there’s always deals out there to be had.
Good Luck, I hope you end up with it.

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MackTheSaw

38 posts in 488 days


353 days ago

Yeah, you’re right. I’m excited about it now, and I’d kinda like to have the expense before the end of this year so I can deduct it for tax purposes this year, but I suppose patience is the answer.

-- http://www.mccollister.com/todd

View rhett's profile

rhett

159 posts in 563 days


353 days ago

This is a good resource for getting real market value for used equipment.
http://www.exfactory.com/

-- http://www.efcabineture.com/ You can be tired, or you can be broke, but you should never be tired and broke.

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