The Vicmarc Balancing System can be mounted onto either the inboard or outboard side of your lathe and is designed to aid in out-of-round or off-centre work.
 
It is used to counteract out of round weight distribution.
 
After removing some stock from your work piece, you may need to rebalance your work again by simply undoing the set screws and adjusting the balancing weights to the desired position.