I would not be in a hurry to get rid of it as it can be used to hold blanks for drilling if you drill with your lathe. I like to turn stoppers between center get to the correct size and then chuck in a collet chuck to drill the hole in the stopper and finish. Would be good money invested to get a collet chuck if you do not have one. I use a psi as most on here does, that kit has different sizes it also. Collet chuck can also hold the mandrel to turn the barrel.
ben