Breaking News: Your Vinyl Record Collection Isn’t Worth As Much As You Think | Talking About Records
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- เผยแพร่เมื่อ 4 ม.ค. 2024
- The truth is, most people's idea of what their record collection is worth is drastically skewed. In this episode of Talking About Records we discuss the perception of "collection value" versus the reality of actually selling that collection as a whole.
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Iv'e got a collection of about 2000 records amassed over thirty years. I would buy doubles and triples of some records because they were different pressings. I pulled about 300 to sell on FB marketplace over the past 4 months. Sold about 270 of them and gladly put the other 30 back into the collection. It was nice not touching my paychecks and living off that money for a few months. Selling one by one is the way to go.
Very nice! Appreciate the comment, and thanks for watching
Yep. But the work it takes to do so, can affect the per hour pay net.
@@gustercc I just sold them out if my apartment. Maybe an hour a week taking pictures and listing them. People would come pick them up when I was at home from work anyways. The hourly rate kicked ass!!
I have about 8000 I’ve bought over the last 6 months
@@cryptosanity361 that's insane! That amount would be to overwhelming for me. Awesome though.
I have been collecting for 5 decades. Its not the value it's the music.
Agreed.
I’ve collected about 400 records over the last 8 years. This video came at an interesting time as I’ve been contemplating this over the last couple years. I don’t think I have the heart to let them go or sell them. I’m under no illusion that 99% of my records will ever be worth more than what I paid. To me, almost all of them are priceless anyway since I only buy music that has personal significance at various stages in my life. A collection is basically our own personal life story, and nobody else can be expected to value it in the way we do. I only hope to leave mine to my future children and hope they’ll find something in it that might inspire them. If you’re in it for monetary gains, you may be in it for the wrong reasons and are probably wasting your time.
Said perfectly
I just got into record collecting and this is the approach that I plan on taking
Well said. And totally agree. Collect for the music!
I buy records for my own collection but i also buy job lots and sell the duplicates for big money. As long as people are prepared to pay up I will continue to buy cheap and sell high.
But I only do this so I can afford to buy the rare records that other dealers are overpricing.
John Peels record collection is being sold at Bonhams auction house, in London next June. John Peel was a famous English DJ for many years and has an extensive collection, hopefully the auction will be made public. That will be very interesting how much value either the total collection or individual records will be sold!
No doubt! All bets are off when it’s someone “famous” selling - as those LPs will fetch a huge premium because of his name.
Peel's collection is one to watch, was sent so much by 'everyone' years ago. I'm surprised it took this long as his other half did not seem fond of music, or some say him!
A ton of my UK friends in the scene have been talking about this!
His son is a huge music fan and DJ. i'm surprised that he is finally letting go. I aught to be a job lot or nothing.
If I sold my whole collection I might be a Thousandaire. LOL
You're rich! 😆
Not me, I’d be a hundredaire
@@davgar09 Give 8-10 years thousandaire is just around the corner. Lol
100% agree, if selling in bulk as everyone has their own tastes in music, no one will have the exact record collection, so could only see someone buying an entire collection to sell, for a record store, and they will want to then sell off each item therefor they'll want a very minimum price so they can make a profit.
However like you said it is fun knowing how much your collection is worth but could be used to insure your collection, you might have thousands of records so you might want insurance as part of your household contents, then that value would extremely valuable.
My daughter knows somewhat how I value my collection. I’ve shown her how to care for them, how to operate the equipment it and she’s enjoyed listening to it. I told her that when I’m no longer here to play the records, should she decide she doesn’t want them, I’d like her to donate them to a museum rather than selling them.
Good on you. My kids have been “trained” as well 😃
A donation of that kind is certainly noble. Whatever keeps the music alive.
@@DG-ie5ip For preservation, possibly archiving, etc.
@@DG-ie5ipmy thoughts exactly
Like any collectable - it's worth whatever you can get someone to pay you for it... Great discussion, G.I. - selling individual pieces is always more profitable than in bulk. It shouldn't be that hard a concept to grasp. I'm sure you're bombarded by people that "don't get it" Cheers!
I actually say..."Something's only worth the RIGHT BUYER, in the RIGHT MARKET will pay for it"
Pokemon cards are valueless to me personally. But to the right person, they can be worth thousands.
Also, I think these new “limited edition pressings” of, say, 1000 pressings or so, may be valuable now, but 10 years down the road people may not be willing to pay 30 times MSRP for a “splatter”.
I can't disagree there. There is absolutely a point at which things become watered down.
My pet hate
If it's made to be a collectible, it isn't.
@@DorianPaige00 yup. Artificial scarcity.
Very true. Things designed to be a collector’s item, almost never become one.@@DorianPaige00
I have a store in England and I understand what you're saying. People who are ready to sell, increasingly do 'research' and think you will pay close to the high retail they see on discogs. They get a little bit carried away. More folk than not, seem to have their feet on the ground tho, and understand if not respect the huge hassle they're about to avoid and have you deal with. And it's a job that takes a lot of effort, and they understand your in business to do that, so a few hundred or even thousand $'s or £'s are a lump sum they can use and do something special with. I would say I've payed slightly over 50% of projected retail for a couple of collections I just couldn't walk away from. Not over valued middle of the road stuff but rare punk thrash metal and a killer prog batch. Someone with an exceptional collection they may well shop them around, and I want to be in the fight, without getting too dizzy 😊 But I do hear what you're saying, it's pretty much fact...
Cheers! and yeah....if the titles are rare/unique it can certainly be worth it to pay a premium. Always good to have cool inventory, even if the profit margin isn't the best. It's a balance.
Generally you are right. I do think its more about simple margns. If someone is gonna buy your collection they need to make money too. Generally I buy 20-30% of what i deem the total value is. That way the buyer can double their money within hopefully a year or 2. And that time depends on the demand of those records.
You always have to expect about a third will or may not sell.
I do think you undervalue someone buying more then the mean value. Very very rare. But not impossible. Especially if they want what u ahve and arent going to sell them. If you buying records to sell sure, margins are important. If u want to aquire someone importants collection like a famous DJ (I bought some records from Moby recently) you will pay the asking fee.
Especially as Auctions could become more frequent.
Discogs needs options to sell in bulk. I actually inquired about that today if they have any plans. They are missing some opportunity to making commission with no bulk sales options
I honestly don't care about how much my collection is worth. I have it for the music and it will stay with me until I'm gone. Then my son and my friend get it. Sure, I could probably get enough for a house.
The way I would sell a collection as a individual seller is this.....
1. Look at discogs and sort your collection by highest price.
2. Take the most expensive records from your collection (anything 'worth' over 100$) and pull them aside.
3. Sell the expensive on discogs 1 by 1
4. Take the remaining records and sell those to a record shop for quick cash. The record store isn't going to pay more than 30-40% of market value for it. So your 15$ record is only going to net you like 3-4 bucks.
It will take time to sell the expensive records, but you will get a better yield. Stores don't want to pay more than they have to for something.
I’m having flashbacks to my college bookstore offering to pay me $3 to buy back a text book they sold me for $300 several months earlier. Don’t settle for pennies on the dollar. Enjoy the music and if you ever need the cash just sell your most valuable albums one by one and it will pay the bills and cover a bunch more albums in the future.
As a long term dealer I advise people their collection, if they are seeking to sell it, is worth approximately 25% of the Discogs Median. But Discogs values can often be way off the actual market values. With a large enough sample size, 1000 plus, 25% of the Median is probably what a dealer or store will offer.
You’re not far off in most cases. It’s just the reality of selling in bulk
There was a record collection store in Pittsburgh, Record-Rama, that claimed to have the world's biggest collection -- reportedly twice the size in the Library of Congress. The owner started with his own collection that he began back in the Fifties, and he archived a copy of every item in the store's inventory. That archive was just that, not for sale. Until he was forced out of business in 2008. He did not want to break up the archive and eventually managed to sell the discs to a collector in Brazil. It took 16 semi trucks to haul them away.
That’s nuts!
I live in Ohio and used to drive to Pittsburgh maybe 90 minute drive to 2 hours...back in around 1987-89 and was starting a vinyl Bobby Darin Collection, was able to find sealed mint copies of everything Darin put out, also mint copies of Jimmy Webb's solo LP's...I know I never paid more than 35 bucks for anyone of them, most of them went for between 20 to 30 bucks. You name it he had it, and SEALED if you wanted. Wonder what that Brazilian collector paid for the records alone!!?? Sorry it's not there anymore, but the internet killed many businesses. Thanks for the information!!! God Bless
You should collect for fun. Take a look at what happened to the video game collector market: a bunch of people "sold to each other" to bump up the price. Then the market immediately crashed after they cashed in.
Where there isn't a big market, there's a lot of manipulation.
Enjoyed the video. This makes a lot more sense. Thanks for the information.
Well I stopped Amazon prime, Spotify, Netflix and Disney channel. How on earth did I end up with 100 leaving my bank account every month. As usual I buy one album from my very dear local independent vinyl shop. First name relationship and sometimes I’ll buy something new or my new passion for Jazz. My collection will go to my children one day.
I‘m so guilty of these thoughts of selling my whole collection for cash… what is, in all honesty, about 120 records… but seeing this value of 2000€ (minimum) to 3800€ (mid value) is just sooooo tempting. And I have to commit: I already sold albums worth like 150-250€… to buy new records xD
But the reality is: even with a 2yo… I‘m glad I have this collection, even if I‘m only spinning like 5 records a month. It’s such a great way to listen to music, I don’t wanna change a thing… even if I‘m buying just about 5-8 records a year.
You really don't have to give up your life just to buy diapers.
I’m very curious if there were ever to be a major tragedy such as a flood or fire and all of your records were destroyed how much would insurance give you vs how much would it cost to replace to actually replace the records with the exact same pressings?
collections require a special policy they wont pay you shit.
I’ve never put a value on my collection. Houston FD, though, did after an apartment fire ($10,000 in vinyl destroyed) in the 80’s.
My vinyl collection is worth everything I think because it's special to me...I've been collecting since 1968 and I'm sure I have some $$$$.
A much needed dose of reality delivered in an honest and heartfelt way. I am nearing 72. I have been collecting for 50 years, mostly going to garage sales in the 80's, 90's and first decade of 2000. in the area of Florida just south of Tampa Bay (I now live in Eastern Tennessee and it's a vinyl void - it sucks). I bought most for pennies on the dollar. Do I pay too much for an album to fill in a "hole" that I have of a particular artist occasionally? Absolutely. The thought of now, starting from scratch and listing 3,800 LPs on Discogs makes me nauseous. Great titles and pressings: MoFi, Beatles Parlophone, Stones Decca, Who Track. Do I have any false illusions as to value? I don't think so. My wife, if we still lived in Memphis could call Goner or Shangri-La and perhaps they would offer $3,000. That's not why I have done it. I love the music. G. I., I think you told it as it is. Actually, I don't consider this the "Golder Age" of Vinyl as much as the "Golder Age" of turntables. There is no shortage of extraordinary designs and value from $400 to $40,000. Yes, I know Michael Fremer has a table that retails for $300,000 but, come on.
Thank you very much for your comment sir. Appreciate your insight and feedback. Cheers!
I love music so I collect, not interested in selling a single thing
Good points here and put in a very succinct way. As much as the Discogs final collection $ number is fun, you are correct. It is a little misleading.
It’s only worth as much as someone is willing to pay for it. I’ve overpaid a few times, only because I wanted that particular vinyl, but there’s a ceiling I’m willing to pay
Understandable
My collection is worthless because I ain't sellin lol. My collection is pretty small anyway as I've been collecting since about 2008 and only have about 200 records because I'm buying all killer, no filler... only my absolute favorite albums. I have an enormous digital library to satisfy my huge appetite for a wide range of music but I simply don't need to own a physical copy of every album I've ever liked... only those that I'm going to play over and over for years and years.
To me it’s priceless.
Mostly second hand so not worth much. I don't care about the money, I enjoy the sound and art work.
Record shops will only pay pennies on the dollar due to time it will take for them to sell all your albums. They are investing their money and expect a return on that investment. If you have the time, then sell individually on Ebay, Discogs, Marketplace etc. but understand that if you have a 1000 records to sell it may take you a year to unload depending on what you price each album at.
Spot on. Selling a 1,000 LPs on Discogs would take several years - unless you’re doing it full time
Depends on what is in your collection. If you have a bunch of metal or desirable rock you will get pretty close to top dollar. If you are like me I have rare expensive albums but they are niche me a much less base that is interested so I would have a tough time. If you want to sell one by one quick and you don’t mind shipping go on whatnot you if you have desirable records they will sell pretty easily.
Just curious, G. I. Using your example, what could someone reasonably expect to get from a store like yours for a collection in good shape with a median discogs value of $25k. Not looking for anything exact, just a rough idea as to what's reasonable.
I’d be interested in hearing his thoughts. Probably surprisingly low for the you the collector.
It is hard to say...but on a $25K median value collection of titles I really NEED, I bet I could offer $10K. But there are countless factor at play. What else have I purchased recently? Do I have the cash flow as a small business owner at the specific time I'm offered the collection? Are they albums that align with my customer base? What % of the collection are instant sellers, versus more common stock that sits for ages? Is this 1,000 LPs or 5,000? Do I have space for them? All of those questions and many others come into play with each and every large purchase.
Thanks for the reply. That's actually a little better than I had expected, but I totally understand their are 100 different factors that would play into it...
Collection valuation on Discogs is a better tool for insurance purposes versus offloading.
Absolutely. Very important to have a log of what you have
This is in line with a couple of record stores who have looked at my collection. They basically say that most buyers offer 50% of the Discogs median value of the collection. They need to cover store front rental, taxes and staff salaries, so they need the 50% buffer to leave some room for profit for themselves.
You’re not wrong
What I've found that is interesting.... what I do is when I put an album into Discogs I "price it" the exact same way I would if I was selling it at the local shop I work at. I then put that price into and excel spreadsheet. So Discogs give the medium and high, but my excel spreadsheet gives that specific value (again, if I were selling it in the shop today) of each album. Over all the years I have been doing this my excel spreadsheet value falls almost EXACTLY 1/2 way between the medium and high Discog value. EVERY time for years now!! You are 1000% correct. Unless you plan to sell your collection piece by piece there is NO CHANCE you will get full market value.
Thanks for watching! Sounds like we are on the same page.
Really appreciate your comments. Being over 65, and knowing that home downsizing will be an issue when it comes to my vinyl / CD collection, rock memorabilia and which of four vintage stereo systems do I keep, I been wrestling with selling bulk or selling individually. Would CDs fall into the same approach as vinyl? Thanks again.
CDs are a dime a dozen these days. I honestly don’t even pay for them, will only take if given to us for free - generally speaking they don’t sell for more than $1-3ea. So it’s not even worth it.
Kind of suspected that...thanks again.
The majority of my records are from thrifty stores, they cost 1 to 2 dollars, and discogs says they are between 0.5 to 5.00, but they are re-sleeved and lovely cleaned, most of them sound from fine to amazing for 50+ years old albums, are they really valued at 50 cents each?, the inner and outer sleeves are worth more than that!
At least I had a lot of fun, and sometimes I am still amazed with some of those.
If Discogs says .50, that is pretty accurate for a retail price. You also mention $5. If they are referenced as $5 in Discogs, you can open up an online store and sell it for about that. You get to quote the shipping separately. That being said, selling $5 records can be worthwhile. Selling fifty cent ones, not really.
I was fortunate enough to be around the dollar bins when CDs got big. Probably 250 out of those bins. But, (some) new stuff is kind of ridiculous these days.
title should read "Your Vinyl Record Collection Isn’t Worth As Much As You Think, and most record shops will sell them for top dollar and pay you next to nothing for them."
You’re not wrong - because the record store owner is the one that’s gonna do ALL THE WORK. I’ve purchased multiple collections in the last month totaling about 15,000 LPs, and I’ve been working 7 days a week busting my ass to even get to a point where I can begin selling them. Inching closer. Will take a couple months just to break even, and THEN I’ll start to realize some actual profit for my business.
That pisses me off!!
You are absolutely correct. Selling or trying to sell in bulk will only get you a fraction of the book values or even what you paid for the record. I have seen so many times people have tried to sell their entire collection in one lot. Nobody is ever interested. If disinterest results from the prices, I think more often than not, it's the enormous size of the collection.
Selling individually or in very small lots is the only way to get a decent price. Some individual items, ofcourse, have skyrocketed in value. Take one example, "The Beatles Mono LP" box. My copies I purchased when they first came out for below the retail price. So, atleast one of my copies is still sealed and has never been out of the box which Optimal Media shipped it in. How much do you think that is worth now? Did I make a good investment?
I have the Mono box as well. Great set. Can’t imagine there ever not being a solid market for that one in particular.
I would give North Texas 25% of the value for the collection behind him.
Sold! 🤣
If you want to have a number on the value of one of your records or if you’re gonna sell one : always look at the low value. If you’re looking for a record you want to add to your collection : always look at the high value. Those are the starting points. Your appraisal can be very different to others.
Not a bad method for establishing value of a singular album. But like I said, that has little baring if you’re wanting to sell the collection as a whole
Discogs and today's market doesn't take "recurrent price fatigue" into account. When Lps and Cds were common, each title would drop enormously in price after it left the charts. There was so much out there and all who want it have it. If something was out of print, it used to get marketed down and sold as a cut-out. The label was cutting it out because they couldn't pay to warehouse it and turn a profit. At that point, those titles sealed were 1/3-1/2 off typically. Some got reissued; some had renewed interest but most not so or else they'd repress.
Agreed. It’s not perfect. Nothing is. But at least it’s relevant data of actual sold prices.
You could also say the opposite is true in some instances. I have records that have been shooting up sharply in value and have reached the stage where there are none for sale on discogs because the demand has completely outstripped supply. So the discogs valuation for those records is too low because if anyone put one up for sale it would likely sell for MORE than the very highest price in the sales history.
@@bosshogster6715 Higher prices when items go out of print has been the trend over the last 20 years. Even with cds on boutique reissue labels. The current chart stuff is hardly ever worth more a year later. For vinyl, since the early 90's everything is pretty much limited except 12" dance singles.
Everybody thinks their stuff is worth more than it is. I would hate to have that conversation on a daily basis. Nice job here.
Thanks! Appreciate you watching
Median value is super inaccurate because there are many records that were sold for high prices because they were signed, or had something specific which increased their value in a specific sale (like old but still factory sealed records). Median value is not average, so that makes it even more inaccurate. For a reasonable price estimate, I’d take the lowest value of the collection and subtract 20-30%.
Interesting video, as usual from this channel. Question: So how do you (or another record store owner) determine how much to pay for a collection, or for that matter, an individual album. For example, say I want to sell a sealed copy of an album that, according to Discogs, is worth X-dollars (retail). Would you use Discogs as a guide for how much you would be willing to pay for an album, or do you go with past experience or on what you think are the chances you will be able to sell a an album for X-amount? What other factors might come into consideration? I am interested in how record store owners go about dealing with this part of the business (might be a topic for another video, if you haven't tackled it already)?
Thanks man!
So many factors. Yea I absolutely use Discogs as somewhat of a baseline, IF the seller has the collection logged. Otherwise a lot of it is based on gut feel.
A lot goes into it. What genre/ere are the albums? Does the collection align with MY audience/customers? What is condition? What is my current cash flow as a small business? Do I have room for it all? What other inventory do I already have that may or may not be similar?
Each one is unique.
It never makes sense to sell your secondhand items to a shop. The shops have to make a profit so you’re NEVER going to get a fair price for them. Sell them privately one at a time or in small batches. I speak to record shop owners a lot and a common complaint is they struggle to get people with really great collections in good condition to part with them at a price they’re willing to pay. That’s because they rarely offer a fair price for them! One owner near me will give you 70% of the price he intends to sells for. Which might sound reasonable but when you work that out he actually gets a 42.8% mark up doing that, which even by retail standards is high.
So just curious, do you track every album you own through discogs? I’ve thought about logging all of mine, just have to set aside the time to do it!
I give it my best shot. It’s work, but totally worth it. Have the majority of my collection logged.
Some people do.
If you really want to do it start with the popular band that you own the most of. you will be surprised at how easy it is one you get halfway. But if you have no intention of selling them do not go on discogs.
If your doing it for a payout then dont.
Truth
I think there are two separate issues that can sometimes run together; first there are albums you buy because it’s an album you really love an example for me might be Springsteen’s Born To Run or Pocos Legend and then there are single albums or box sets that you invest in that you hope will increase in value. It’s just that you can’t count on a specific value for the entire collection as you said.
Personally speaking I’ve never purchased any LP/set because I hope it goes up in value. Just not how I think about music.
From a business perspective obviously a different story
@@NTXVinyl
Agreed but you know there are going to
be certain albums based on limited production that are going to go up case in point the Steely Dan QRs
I got one way to get the amount. Get insured and if your house burns down you will most likely get the money but you kinda lose your other things in the progress :')
What is it worth to someone? The majority of my collection is priceless, to me. I've been entering my collection into Discogs just for insurance purposes.
Very very smart.
I'm at 5000 in vinyl. Most of my collection is limited editions in heavy metal.
Awesome!
Oohh wow, I am a big collector of 80's Combat/Noise records stuff.
What’s your view on this exit plan…get a pop up shop at low rent. Price records up invidually__£5, £10,£15 or £20. Etc. give your self 6 months and see what you can sell in that time…
Sure! You’d be putting in the time/work - so you’ll be rewarded with the profit if you’re successful
Breaking news It depends on if you are being biased about your own collection. If you really know what you are doing or you have certain taste you could be at a large profit compared to what you paid. For example you bought at retail Alice in Chains Unplugged vinyl or limited 500 colored vinyl its opened in NM / NM. Retail not 500 limited not colored vinyl NM NM you CAN sell that for $250-$300 and it will sell for that minus fees for discogs or ebay. its not worth less than you think you just have to know and if you list it for $200.00 you can get that someone will pay that. Now if you put it up for sale for $400-$500 why you can buy from someone for $270.00 right now NM NM in 2010 retail it was probably $24.99 - $29.99 or something. My friend George made over $100,000 in a year selling records and thrift items. He has a group online and they find glitches etc. Taking advantage of glitches an online site had a glitch and you could get up to 6 records for shipping. The records were free due to a glitch they sell for $30.00 oer album . You bought temple of the dog 2013 NM NMand theses are the represses from 2010's 20teens if you bought at retail your up its worth $180.00 depends on the exact version of course you cant get it NM NM for less than $170. And yeah you would have to list and sell all these records individually and there are fees on ebay and discogs. Most things ive paid good money for have went up I got a UK 1st of the Cure three imaginary boys NM NM got it from germany for $36.00 its worth more than that same i got Cure boys dont cry 1st usa press for $60 NM NM. Doing a median value on discogs would be not very accurate at all you have to be knowledgeable and realistic about record prices.
So I just watch this video and I guess I’m a bit confused. I have a huge collection, most of them still sealed, like 1,000’s of them. So you’re telling me I wouldn’t even get the median for those sealed records? The high is what the sealed ones sell for. I’ve had record store owners come over and look at my collection and said the median for my collection would totally be a fair price, knowing my collection has a ton of sealed vinyl along with a 100 sealed box sets. They say they look at a collection and take the good with the bad. Knowing they get 100 for a sealed and $5 for an average record. They just average it out after looking at the collection. So basically in my eyes, EVERY record collection is different. So be aware of what you have and watch for the buyers that offer extremely low ball prices. I’ve seen this at local record stores all the time. Somebody comes in with a box of records, they give $40 for the box and there is a butcher cover in the box that they totally knew was there. Also condition is key. A scratched up record isn’t worth squat. I’ve seen people say I want $100 for a Beatles record and it’s all beat up. Well there was a ton of Beatles records released and a scratched one isn’t worth even close to $100. I see them in the $5 bins all the time. Just my 2 cents.
Sure….sealed originals certainly command a premium. Rarely see collections that contain them, so that’s a bit of an anomaly. Sealed reissues that are still in print, not so much.
But regardless, when selling in bulk you’re gonna take a hit. Whoever does the work of selling one by one will profit the most, regardless if that’s the owner of the collection or a record store.
To anyone reading this… be warned!!! Regardless of the collectable you have, in this case records, now is not the time to be selling.
Times are tough and buyers, particularly dealers, WILL a b s o l u t e l y screw you over on price.
Don’t get me wrong, I have no problem with a business making money. I do have a problem with a business offering a widow $1 for a record and then selling that record for $720.00. That’s one example I have personally witnessed and am funding that widow to sue the arse off that dealer.
And it’s not just one or two here or there. It’s pretty much most dealers. They will screw you on price if they get even a wiff of a need to sell.
So be warned… the information in this video is in itself correct… however there are a huge number of extremely nefarious people out there. Be careful!!!
Yes it’s true. There are shitty humans in all walks of life. But there are also good people. So just have to be smart about who you deal with.
It might be a poor analogy, but being a passionate record collector is similar to being a passionate car, sports car, or exotic car enthusiast that spends a lot of time on unique upgrades, stereo systems and customized rim and wheel packages. In a perfect world, you could sell off parts of a car you love for fair market value under the mindset of gently used, similar to how we all think of our VG+ or near mint records in perfect sleeves that we have a specific value in mind for each one. Now with a record store, or bulk buyer such as NTX Vinyl sees your collection or the collection you are offering as a bulk package...like going to a car lot to sell your customized Honda Civic...you have to take passion and customization/care out of the equation and simplify it down to 1.) What can a record shop purchase from you and still make profits from my sales and 2.) you are not the only one that has a near mint perfect, barely any scratches Honda civic or 2nd or 3rd pressing of Pink Floyds' Dark Side of the Moon...and has taken care of your collection, your passion and hobby. Taken care of the things you are passionate about like records, has become an underlying hopeful expectation
It’s a perfect analogy. I use it all the time. Thanks for the comment!
Next video: what influences collection sellers, like yourself, on how much you end up paying for a collection? What is impressive to give “top dollar”? What is a “turn off”? Talking % vs dollars of course! Thanks GI :)
Great ideas! Appreciate you
@@NTXVinyl totally agree with David. It would be very informative and eye opening if you would tell us about your example of a $25k median value collection how much it would really gets as a wholesale collection.
I'm betting on a $4-5k tops... am I wrong? I know too many factors to give a proper number but just an average guesstimate would be good enough information
@@brunohebert1351 It is hard to say...but on a $25K median value collection of titles I really NEED, I bet I could offer $10K. But there are countless factor at play. What else have I purchased recently? Do I have the cash flow as a small business owner at the specific time I'm offered the collection? Are they albums that align with my customer base? What % of the collection are instant sellers, versus more common stock that sits for ages? Is this 1,000 LPs or 5,000? Do I have space for them? All of those questions and many others come into play with each and every large purchase.
@@NTXVinyl Totally get it, as I said there are a lot of variables, but I think it might help people realize better with a ratio that will be more or less constant. Usually, in retail there's a ratio of 3. So, I guess a good guesstimate for people is to take the low value (not the median) and divide it by 3. They might get more for their collection but that's a good bottom number I think. Like you said, if they want more value, they need to sell 1 by 1.
It's good to know too for people like me who are not planning to sell their collection (no way! ;-) ) but in case of my passing it's a good guide for the people surviving to know a figure especially if they know nothing about records and record collecting.
Thank you for your reply.
The good records you never will part ways with. The sh*tty ones, well, they aren't worth much. Collect because you are passionate about the music. Well said G.I.
A good point is made about selling your collection in bulk. Let’s say you have 500 records. To sell all of it at (let’s say) median Discogs values, you would have find someone is willing to purchase each disc at retail pricing. I think we can see that you are just not going to find a collector (or entity) who is eagerly pursuing each of every record in your collection.
Precisely!
It's worth more! (but only to me)
Your mic sounds so good. Looks clip on. I always had trouble with those.
Thanks! Super cheap lapel Bluetooth from Amazon for about $25
@@NTXVinyl what’s the title to search
@@MusicOrLoseItTV
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@@NTXVinyl Thank you
I think I'd rather give to charity to individually sell or mates if i had to. Otherwise i occasionally sell at fairs, online or trade with other dirty dealers. Discogs is rather a free listing tool to me, interactive and handy if browsing for bargains. But then i don't want to take the fun out of crate digging either because it's about the music.
What about listening to them rather than acquiring them for profit?
Totally understand & get it but give us an idea what % you normally buy collections at - - I know there is lots of variables - condition etc. / say someone says they have $5,000 all VG+ (Discogs med) what would you offer for their collection? $1,000, $500 ??
If there not worth that much why does your store charge so much.
Try again
@@NTXVinyl All right,you CHARGE TO MUCH. How's that
@@jamescarrifee3863keep trying. You don’t have a clue what you’re talking about.
I only going for big ticket items not bulk
People who collect vinyl and worry about how much it’s worth in money are buying records for the wrong reasons Play the stock market or invest in gold or silver but buy records for the love of the music and play them!!!!!
Agreed. I do believe the vast majority of people do buy because it’s fun and they love the music. That said, people’s lives change, shit happens, some dont stick with it for life….like us crazies. So, collections get sold. And unfortunately that’s when I have to explain this. On a weekly basis.
This logic works for any collection . You will never sell a collection of anything for the total sum value of each piece .
Thank you. You’d be amazed how many people fail to realize this simple logic 🤣
Mine is priceless
Mine too! 😀
So is mine!!!!! Haha
Law of averages 5.00 bucks a piece across the board! 💰
I have always looked at it the same way. I do not use Discogs. Who cares what it is worth. No one will ever retire be a use of their record collection. People who do not know think this all the time. “My dad died and left me his collection. It has The Beatles, Floyd, Led Zeppelin”. They think they can sell it for $$$$.
You can’t sell an entire collection for close to retail. Likely you get 50 percent I would guess but for insurance you would want to value it at full replacement cost under a policy. Good video vinyl is to enjoy not invest!
Yep tossed my old collection after realizing this. Some on paper were worth a lot….
“Tossed” ??? 😬
Yep
About 70 , a few were rare, dating back to 69’
But with the teeth marks, scratch’s ….I looked up there value and even the 1 or 2 worth a 1000$ were only worth 1-2$ 😳 the rest Pennie’s
Correct - have a go at valuing your collection currently. Cut it in half - thats the reality right now if you ran all of them as fair eBay auctions.
Hard to say. If you’re doing individual auctions on single LPs you can absolutely get a great return - because you’re putting in a ton of time to grade, clean, list, package, ship etc
im fine with that
The word “fraction” is too vague. 90% is a fraction. So is 10%. If you sell Records, one by one, you have to pay selling fees, and you have to pay postage, and you have to pay for the packing materials, and you have to be concerned about whether they arrive at the postal destination. If they don’t arrive, you have to give a refund. if you track the shipment, it cost a lot more to ship than if you don’t. If I was buying a large collection to sell as a record store owner, I would want to look at the value, then think about whether I can sell every unit and how long it will take. I would probably cut the value that I think I could get in half to make it worth the work, and then in half again to cover overhead. So 25% of the value I think is a fair value if you’re selling the entire collection. As a whole.
All very logical. And correct. Thank you
It is fair. It takes on average 30 mins to sell one record. If you sell a record for 15$ you end up with 12.50$ after costs. If you have given the person 4$ for it then your 'wage' is 8.50 x 2 = 17$ an hour pre tax. I earn about 13$ an hr selling records online and have a large and good feedback status and lots of contacts for collections. You can pay the rent, eat, but no holidays in the Seychelles selling vinyl online!
but what about my CD collection!??
Can’t help ya there 🤣
If your house burns down what does insurance companies go by? You would be lucky to get 2 dollars a Record.
If you don’t have a separate policy for your collection you may not get anything at all. I have insurance through Collect Insure covering $200k for my LPs specifically
Here’s a good rough estimate of your collection: catalogue all your media on discogs, look at the median value of the entire collection and multiply that by 0.75. Most likely your collection is worth that much.
Potentially. But there’s a lot of variables. Size of a collection is a big one. Condition also important (obviously). If a collection is all minty, collectible LPs - that makes them easier to sell. If there’s tons of filler or lower tier artists those take more work - and time is money.
The video says that getting a store to pay 80% was, in no way, gonna happen (20,,000/25,000). So, why can you be sure 75% will fly?
@@markkillion8980 in my experience, with patience I’m usually able to score a vinyl at roughly 75% of the median price on discogs off eBay. You have to be extremely patient though. Most people don’t pay anything higher than that. Also I would never sell things to a store that’s only paying to make a profit off of it.
My guess would be 10-20% max. Some stores can't even move certain genres, so they have to list them on line (a ton of work).
Mine might actually be...may be the only psycho on the planet to have a storage tote full of VU peelable bananas....401 K of the future
Of course discogs valuations are skewed. It doesn't account for mint sealed albums or signed copies. I have a copy of the first Kinks LP that discogs values at $400 but I got it for 50p because it is ruined. I also own a collection of led zep plums that are unlistenable due to sandpaper stylus overplay but discogs values then at $1000 each. Who wants to offer me £40,000 for everything, blind.????
For an “all killer no filler” collection, what percent of the medium value is reasonable to expect? Won’t hold you to it.
It all depends. How big is the collection? What else have I purchased recently? Do I already have similar/same albums in stock? Is my cash flow strong enough to absorb it all at this time? Do I have room to store/process it? So many factors.
Medium value typically is what I price an album at. So if I’m buying I gotta get it at half of medium at least. But on large collections (1K+ LPs) it can be much lower. But I’ve also paid more - for stuff that’s really unique and I know I may never see again (as a whole)
Nobody wants to say because it can vary.
I don't think discogs even accounts for condition, do they?
Yes, you can look at sold prices and the condition of those albums is reflected on the sale.
So its like any other market
Yes and no really. Depends on what you’re basing its worth on.
The only way to correctly establish “value” is off of true market value. But then it gets interesting based on HOW a seller wants to execute a sale
Great... now I'm triggered!! Thanks Greta! 😂😂
Says he who is about to buy it. You gotta grease that wheel, son.(LOL) You have to sell individually and then you'll take a hit on tax and shipping. There's a lot of Beatles records out there so that will wax and wane.
Thank you G.i. for another insightful conversation
My pleasure buddy!