Well here's the story for anyone interested.
I exchanged emails with the seller on Sunday, gave him an offer for the lathe and offered to meetup Monday. Monday wasn't good, so I head over about 5:30 on Tuesday, fully prepared to pack up the lathe and take off. Straps, tools, and moving dolly. Honestly, pretty excited.
I pull up and there are 2 gentlemen in the garage. The seller and someone, who I assumed, was his friend or neighbor because he introduced us.
He shows me the lathe, it does what lathes do. Tells me he'd prefer to sell his whole shop. OK, not what I was expecting but I'm a GJ member so I bite. He tells me the guy that just left offered him $2500.... WTF? I thought we had a deal? But I play it cool and say I'll give you $1k now and come back the same time tomorrow with the other $2k. But I want the lathe now, I'm ready to take it.
The seller is 88. In declining physical health. He's winded, shakes my hand and says he'll call me tonight and let me know.
He never calls, I called him this morning, left a message. Called him again 15min ago and the other guy is coming with cash in about an hour. If that falls through, then its mine. I asked if he offered more, he told me he wouldn't say.
So I don't think anything is falling through for the current buyer. I really didn't appreciate the game this guy played. I was very certain we had a deal and there was no indication that he was playing the field. I didn't lose anything except an hour of my time and less than a gallon of fuel.