My saying is " I cannot afford cheap tools. " You should understand this. It seems to me that you come out of an industry where time is worth a lot and if a cheap tool fails then the extra downtime soon adds up to big dollars. Same for personal tools. If my pay check is linked to my tools performance then I cannot afford to have a tool fail and leave me unable to do the job.
There is a difference between cheap and inexpensive, and I'd think your lathes were inexpensive on the used market.
lg
no neat sig line
Good points! I have never relied on tools for my pay check, except when I was baling hay full time with junk equipment. I just kept spare parts around and made what I could. It was all good equipment when new so with regular maintenance you could get good service out of it.
Funny I've never really had cheap tools fail. I'm not talking about $5 angle grinders.

I've broken a few sockets over the years but they were mostly good brands. The really cheap sockets don't fit and have walls extra thick which makes them less desirable to use.
My South Bend lathe was a gift from a friend. However it is well worn and hard to keep a 0.001" tolerance. The Grizzly lathe was new, made in China, and about 1/4 the price of a good one. But it is decent and everything works. I have had a few problems with it but nothing I can't put up with (tail stock is hard to get locked into place, for instance).
On the job most companies buy good hand tools. Not so much with refinery construction companies, however, I've seen lots of the clunky, loose cheap Crescent style wrenches in use. Top notch welding machines and cheap hand tools. Go figure. And contractor rolling stock used in plants is oftentimes horrid.
In the good old days, lots of Williams wrenches and sockets. I still buy old Williams tools when I see them. Black finish but very durable.
I hear you on that. If I'm going to buy a specific tool for my use, I'd like to buy it only once and so go for good quality (not necessarily "best quality" but good). I might buy a throwaway tool if I'm only going to use it once for an esoteric project, but otherwise I like to invest in good quality stuff.
I guess it's like an investment towards my future heirs--of which I don't yet have any. LOL.
On the other hand, I usually buy inexpensive tools and upgrade when it is apparent the cheap tool is not suitable. I usually don't need to upgrade.
It is a difference of mindset: some prefer to have a limited amount of very good tools and some want a wide variety but can only afford to buy cheaper tools. As each person reads this, they can identify their style. Neither is right, just different.
You do need to buy for you, however, not your heirs. You may find your heirs are just not interested.
My son's father in law was a great guy. Gunsmith, machinist, woodworker, reloader, etc. My son inherited a double car garage full of good tools and supplies but the mostly just sit. He pretty much had all he needed at the time. So my tools really have no place to go. Such is life.
Looking good as always, Andy. I envy your supply of spare steel (& hope to someday aspire to your level, albeit more organized). I'd love to get a lean to or separate building just for steel on racks as even with that cost it would be drastically cheaper than buying new.
It kills me to see scrappers bringing in good, straight steel when the prices get up...what they try to get $300 a ton for sold for $300 a sheet.
I could not go to scrap yards, I'd bring home too much stuff. Now it's getting to where you cannot buy from the recyclers. Maybe it was too much trouble to sell to the public, but around here they just don't sell used steel anymore.
And lots of companies are not very good at using their drops, they think it's cheaper to send it to scrap rather than "waste" an employee's time. I'm reminded of the union carpenter making cuts off a unit of 2x4's for the guys on the job. He ran out of lumber too soon. When we looked into it, he had a giant pile of scrap up to 6 ft long. If he got a request for a 27" piece he grabbed a full board, cut it off, and tossed the drop. When asked about using the scrap "It's not worth my time to dig through scrap to match what is needed. You aren't paying me to save bits of scrap". We were building scaffold and he was cutting 3, 4, and 5 ft pieces for toe boards and mid rails around vessels. He used enough material for the entire project in less than a week. Interesting mind set, and I understood where he was coming from. He refused to cut scrap so we were shut down a day building scaffold while we got another unit in.
Thanks for the visits and interesting comments!