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I would go with a new one. By the time the bidding ends it will sell for more than the current price. If there are any glitches in the lathe you will have very little recourse with a used one. I buy a lot of used equipment but I have a machine shop and many years in the business and can make replacement parts from scratch. A new machine configured the way you want it rules out these problems. Also, the ER-16 collets are much better collets than the standard collets shown in the picture. One nice feature about the ER collets is they accurately cover a wide range of sizes. This means that fewer collets are required to have a complete set. They are also inexpensive. You can always purchase a standard headstock and the 3 and 4 jaw chucks at a later time if you need them.