Wholesale Tool has a 1/3 HP Mini Wood Lathe for $119. It features a variable speed motor, 6″ swing (diameter that can be turned) and 12″ between centers, and the spindle thread is 3/4″-16 tpi which allows it to use common accessories. It’s not top of the line, but damn handy if you’ve got nothing to start with.
Lathes of this design are basically knockoffs of the venerable old Carbatec design, which is now (or so we have been led to believe from discussions over the years) a knockoff of itself… but that’s beside the point. It’s a simple mini lathe for pen turning and other small projects at a good price.
1/3hp Mini Wood Lathe [wttool.com]