Dayton is a "house brand" name found on some Grainger products. The lathe is likely imported from China and would be similar to ones with other brand names on them. So assume low quality and, if not brand new, probably not in great shape. Actually, it might need lots of work even if new.
I bought a new Jet brand 12 x 36 lathe that was made in Taiwan. The cost was around $3000. It looked pretty good when I got it out of the crate. I had to take it partly apart to get it in my shop. Everything I took off exposed horrible workmanship, so that I had to do a partial rebuild before putting it back together. Jet has managed to stay in business, and I see Grainger sells some lathes with the Jet brand along with their Dayton brand lathes.
Larry