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If you are considering a sincere then why do you want to keep the Peerless? You can buy just about anything for the Sincere so you can do all of your watch work gear cutting, milling etc on the sincere.
If you want a bigger lathe then keep your eye out for a good used lathe. They do come up from time to time and if you are prepared to take a drive as the seller will only sell on collection only you can still grab a bargain because nobody else can be bothered to go and pick it up.
get the Sincere, sell the Peerless and then you will have some money to find a nice used bigger lathe to make your clock with.