I would agree about the usefulness of the collet chuck and the many collets, but suggest that if at all possible, you ask for a chance to fit the equipment to your lathe and run some checks of the accuracy before purchase. I bought exactly similar s/h from a ( reputable ) dealer a few years back, had to do a return as many of the collets were quite badly out of truth - several thou, 3 or 4 thou at worst - maybe strained by poor use in the past?, though visually they looked reasonable. Had the same experience with another s/h Myford collet chuck and collets bought by a Myford owning friend a little later, checked them out and they were also too inaccurate to be worth using. ( My Myford spindle nose runs with no readable run out, by the way.....) Dave