Does it use the common ER-16 collets, or the harder, more expensive E-16 collets? Er-16 collets have a groove around the shorter end.
How many collets do you have with it, and what size are they?

Spitfire, this might help...




L-head in picture with it...

Original price from Volstro would have been staggering compared to todays prices on ebay. CNC pretty much put them out of business, but parts are still available from a company that bought the rights.
David from jax