Wrong. It is an investment. While large machines are going for scrap prices or less, workshop sized American iron is at a premium and is getting more so.
If you sold it for $2K, imagine what it will be worth down the line.
Now that you are in the market for a mill that will fit in a space the size of a drill press, I'd suggest looking for a Nichols. It is a very rigid small knee mill. They have traditionally been under priced and continue to be so. They are much better than the Asian crap and will appreciate in value. The basic machine is a horizontal knee mill and vertical heads are around. Mine is a 1 1/2 HP 3 phase machine, but it runs happily on 220 VAC single phase using a static converter. The spindle is a robust 40 taper. Being a commercial machine, designed for heavy use, I expect it to outlive me and it's next owner.
You can have my Nichols when they pry my cold, dead fingers off of it.
Ron Thompson On the Beautiful Florida Space Coast, right beside the Kennedy Space Center, USA