This is my present approach to a gouge rack for the lathe. Shamelessly
copied from ones I saw at a NH WW Guild lathe gathering - made a lot of
sense.

The back keeps you from slicing self on the tips that are up where you
can see them.

I have not fully finished it in the sense of permanently attaching the
divider strips. As for shellac or dye, in your dreams...

It sits on an old sewing machine table (cost - $0) and you can see that
I set it at a steeper angle than the OSB scrap was originally cut (note
that the bottom edge is not parallel to the table top). Chucks and
faceplates can be piled in the void behind it, on the table top. It can
also sit on an old typing table, but the sturdy steel typing tables with
retractable casters get used for more general purposes once I've fitted
them out with additional shelves, etc...

And yes, the collection is a bit eclectic, ranging from 1952 shopsmith
on one end to Glaser on the other...

--
Cats, coffee, chocolate...vices to live by