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					Originally Posted by bill m  A lucky find Mike, 
the fact it is 1940's and in very good condition is outstanding. These machine tools are collectible in their own right. I like the 1940 inspection slip! 
I am planning on a lathe purchase in the not too distant future. Nothing like the smell of machine shop coolant   
I currently work at Redline Engineering near Moorabbin airport managing and building aircraft components for local concerns.  
The workshop is all CNC machines with just one turret milling machine and a Colchester lathe. 
The CNC's are fascinating but are not with the character of the older manual machines. 
cheers 
Bill. | 
	
 OK Bill 
Colchesters are excellent lathes , but spares cost a small fortune , they used special bearings in the headstock and these are thousands of $ to replace .
Many people buy the new Chinese machines , they have improved greatly in the past ten years , but I still don't like them . 
At the moment, there is a glut of older used lathes on the market , manufacturing has mostly died here and many companies get rid of their machinery . 
You can pick up beautiful quality old lathes for around 2000$ . These days cheap phase converters ( called VFD's ) are available on EBAY ..you can run 3 phase motors from single phase with ease  
 
A good first lathe is a Hercus 260 , made in Adelaide . Hercus still supplies spares for them 
Big tip , try to find a lathe with heaps of accessories , these cost more than the lathe itself does 
Go to this site and clik on HERCUS    
http://www.lathes.co.uk/page21.html
Mike