Grizzly Jointer and Hegner Lathe Used Equpment, what to pay?

Hi all,
Anyone got any idea as to what to pay for a couple of items?
I have a shot at a Grizzly 8" Jointer G1018 which was purchased new in 92 by the current owner (a woodworking shop). They want $400 for it. There's no rust, and all parts seem to be intact. Comes with a manual. Current prices on a new G1018 is around $750 with shipping, so I tend to think $400 may be a little steep on a 12 year old machine at this point, but don't know what the going price may be on these.
Also, they have a Hegner HB 200 lathe for which they want $700. It does not have electrionic control so speed is changed via pulleys. Don't know how old it is.
What are specific things I should take into consideration on these machines before I make a possible offer?
Thanks in advance,
Chris
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Crawled out of the shop and said. . .:

don't know about the lathe, but the jointer is a steal if its decent shape. if you don't want it, lemme know where ya are and i'll go buy it! heheh
Traves
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wrote:

Chris:
In a general sense a used machine is worth about sixty percent of its current cost if it is in very good condition and less than about five years old. The cost basis should include the cost of whatever electricals are on the machine.
On a twelve year old Grizzly I'd only give about forty to forty five percent of current cost and would take a good straight edge with me to determine that the tables haven't humped and that the ways have not gotten sloppy to the point where the tables can not be made planar.
You might also check the fence to make sure it is not humped.
Take a drill rod with you to check the runout on the Hegner and try to find out the age of the machine.
Regards, Tom Thomas J. Watson-Cabinetmaker Gulph Mills, Pennsylvania http://users.snip.net/~tjwatson
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