Cgantnor5150,
Nice looking lathe. The original legs are a rarity these days.
SB’s from the 20’s all had black colored ‘Japonning’ as a finish - a mineral called Gilsonite, AKA asphaultum melted, mixed and thinned with linseed oil, turpinitine and lamp black. Then baked on to form a very durable and impervious finish. Yours looks like Japanning. Very nice indeed. The one for sale on Craigslist is blue, maybe grey, which indicates it has been refinished sometime in the past - likely as a result of long term usage and eventuall refurbishment. Not necessarily a bad thing, just something to keep in mind when looking to see if there are any hidden signs of excessive wear.
Glenn