I have long wanted to buy a Hardinge HLV or Monarch 10EE lathe strictly for hobby use. Admittedly, my approach is neither scientific nor even rational. My basis for wanting one is not based on any specific kind of work. I don't need one. I just want it.
I have found a Monarch in the back of a local shop. Nobody remembers anybody last using it. They don't know if it runs. Apparently it's been there since the beginning of the last ice age.
I get the impression they would sell it by the pound. However, the trouble is that may be what it's worth. Is there a price at which if I buy it I cannot go wrong no matter what works or doesn't work on it? I'm told that rebuilding one of these can entail ghastly sums of money. I can't afford to go there. I just would like to know how much I could offer and be able to break even under the worst case scenario or have a usable lathe if I'm lucky. The lathe is not hooked up to power so running it is likely out of the question.
When I was a young man I dreamed of owning a sailboat. Finally I realized that if somebody GAVE me a sailboat I couldn't afford one. Might that be the case with a Monarch 10EE?
Thanks for any and all input.V