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Alt-Azhimuth Mounts (Below $500, Above $500)
An alt-az mount allows for movement in two axes: altitude (up and down) and azimuth (left and right). Altaz mounts can be simple, all-manual designs or have motorized GoTo and tracking capabilities.
Most cheaper alt-azimuth mounts are designed for holding smaller catadioptric and refractor telescopes. Newtonian reflectors usually go on a Dobsonian mount unless you are doing imaging, in which case you’d use an equatorial mount.
Alt-az mounts under $500 or so are usually limited to holding a 5-6” Cassegrain/Newtonian or a 4” refractor. More expensive alt-az mounts ranging from $500 to $1500 or so can usually hold something like a 7-11” Cassegrain or a 6” refractor. Larger refractors and Cassegrains are usually used atop German equatorial mounts or custom-designed fork mounts made specifically for the telescope.
Manual alt-az mounts can have digital setting circles added to aid in pointing (as with Dobsonians), while tracking requires that the mount also have GoTo, which will also aid in automatically pointing at targets.
If you want to do deep-sky astrophotography or carry larger refractor and catadioptric telescopes that may be too heavy for a portable alt-az mount, you should use an equatorial mount.
Equatorial mounts are designed to allow your telescope to move in a way that follows the Earth's rotation along a single axis, known as right ascension. An equatorial mount can be easily tracked by using a simple, motorized "clock drive" that rotates the entire right ascension axis over a 24-hour period, or by simply turning a fine-adjustment knob to move the telescope westward across the sky. The other axis, declination, adjusts pointing in the north-south direction. Deep-sky astrophotography will require you to use a driven equatorial mount, and most equatorial mounts for astrophotography feature GoTo to simplify pointing as well as features like PC control and autoguiding.