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What is this used lathe worth?

Depends. Did Jet do the 1014 in a variable speed that more than changing the belt? If not, I'd pass. ut I am a lathe snob. I want electronic variable speed. If changing belts is OK by you, seems liked he priced even the kitchen sink and then took the used discount.
INHM, too little lathe for too much money. YMMV.
 
I am not up on that lathe, but I looked on Amazon, and it said the "new improved model" is $480, with free Prime delivery. That makes the Craigs List price look high.
 
Looks like this is the three pully speed settings with variable speed within those model. Accordning to the manual its a 115v motor with a circuit board to control the speed (which I think varies the frequency). My rough understanding is that means it will have (relatively) low torque at low speeds (how much difference I don't know - that may be why the 500rpm minimum speed is set).

Low end of the speed is 500rpm so no unbalanced bowl blanks :D

My main question would be what do you want to use this for? Its pretty short, on the short side for chair legs even and small/light enough you wouldn't do a whole lot of bowl work. For things like pens, duck calls, spinning wheel hooks, drop spindles and the like it would be just dandy (I've kind of been thinking about a smaller lathe for stuff like that :eek: the headstock on the PM can get in the road). If you could wrangle up the bed extension (or make one) it would be decent for most furniture work as well.

Review: https://www.youtube.com/watch?v=LHQihq9ajIs
Manual/brochure/etc..: http://www.jettools.com/eu/en/p/jml-1014vsi-10-x14-variable-speed-indexing-mini-lathe/708375VS
Historical new prices on amazon: http://camelcamelcamel.com/1014VSI-...le-Indexing/product/B000MIWG6Q?context=browse (no longer sold it appears so I'd take the ~$500 as "new").

I think its in the right hand waving ballpark price wise if you look at the whole package. I'm making a bunch of guesses here about the accessories, they might be worth more or less than what I put down depending on the type and condition of them.

The 4 jaw chuck is worth somewhere around $100-150 new (depending on type) so say $75 of value there.
extra live center somewhere between $20 and $100 depending on type, so lets guess low end - $15 of value
Chisels ?depends wildly? but lets guess its some combination of HF/Benjamins Best quality and say $8-20 per new or around maybe $25-75 worth used
mandrels, maybe $20 worth used

so say $150 or so worth of extras (maybe $300+- new) and the bare lathe is now down to $250 which is about on the money at roughly 50% of new.
 
i would try and knock him down $50 or so, but the mandrels, chuck and chisels add a bit to the value of the original machine. If it is in good nick, and suits your kind of turning, it may be just what you want.
 
If I didn't have three Jets in my shop, Fowler is close enough I would buy it in a heartbeat. Age is not a concern, they are built to last. Might be near new price, but then you aren't paying for all of the extras and man those add up. While you are debating, I would think someone has already snarfed that up. As my dad would say, "you only get splinters sitting on the fence, get off and do something!"
 
The stand is a bonus...these things are built like tanks. When I moved up to the 1642 the little guys was donated to the church workshop and is is still running like a top! The new model is the 1015...1" longer.
 
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