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Sounds familiar. Was it dropped on it's nose and the female taper at the rim is deformed. It's pretty thin and easy to damage in that way. I'd send it back if that is the case.
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Location: Royersford Pa.
Brand new? Return it. You shouldn't have to fix anything.
Twinn
Will post for food.
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Return the entire set. It shouldn't work that way. Sounds like the taper in the main live center was machined improperly. Before you return it, though, check to make sure your headstock and tailstock are aligned.
Still Learning,
Allan Hill