In reality about £800 I'd of thought.
In the world of Myford lovers, about £3750.
If your happy with the swap and the lathe is more use to you than the welder then you got a good deal. Value is a funny thing because it only takes one person to tell you it's worth sod all to make you feel like you've struck a bad deal in the opposite way if someone tells u it's worth a ton of cash. Are you happy with it. If so you've got a great deal.
Id have said 3 to 400 its only worth what someone will pay for it