Single red circle is the headstock, the red and blue is the tailstock. I would say if it is a delta than $150 ish would be fair, but you should know that this lathe will be much better suited to spindle turning than bowl turning at least w/o modification.
I would ask the make, and model. Speed range? And what if any modifications where made.
I would not recommend that lathe to anyone any longer. It has the serious potential to turn someone off from turning at all.
You wouldn't reccomend the Harbor Freight lathe?
Kelly,
It sounds like you are wanting get started learning to turn. I would put off buying a lathe until I had tried a couple different ones and knew what types of projects I wanted to produce.
Most lathes are not multipurpose nor one size fits all. You may find that you have spent money that you regret on something that won't do what you want.
A few Saturdays spent visiting members near you who can teach you the basics, give you a little practice time and show you the wide range of tools available for different aspects of turning could be time wisely invested.
Just say the word and I'm sure folks will be happy to help.