I agree in principal that new ones can have new and improved features, the key word being “can”. In this case the only useful feature that Powermatic has manage to add in 20 years is a digital readout, about $40 worth of parts. And they added a detachable on/off switch, which is hardly a necessity.
They did beef up the tail stock which I upgraded on this lathe but in return they got rid of the Baldor motor and vfd and this actually make the newer ones less valuable. And they took manufacturing off shore. Nothing holds up like a Baldor motor.
I think your argument would be more suited for say comparing 2 vehicles of the same model but 20 years age difference, then I would agree that the newer one have additional features commanding a higher value.
I have numerous power tools ranging from brand new to 110 years old and the most impressive ones are the ones built from 1960 to 1980’s. A lot of the newer stuff is just built so cheaply that they’re practically committing fraud on their customers.
Going back to this lathe, the red power switch is a piece of plastic chinese junk, and yet powermatic charges $90 for it I was able to cross reference it and buy the identical switch for $5.94 on line. I ordered it just out of curiosity to confirm if it was identical, and it was. I was then able to find a cosmetically identical American made switch new for $20 with the difference being that the internal plastic parts and switch body on the USA made one were metal instead of plastic on the original powermatic.
So have no delusions Today’s powermatic and Jet tools are built as cheaply as possible to maximize profit; $90 for a $5 switch is a perfect example of how powermatic operates today.
Just one other side note, I came up with the $2000 price based on the fact that several members of this forum appear to have sold their 3520B lathes for around $3000.