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BondtanaOffline
22 Post subject: Tips for buying record collections & lots?  PostPosted: Apr 05, 2014 - 01:47 PM
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Hi everybody.

Just wondering if anyone had any tips on buying large collections and lots?

Is there decent minimum price to pay to make sure you don't get burned (of course in relation to the overall condition), without completely ripping someone off?

Any help would be greatly appreciated. Thanks! Cool

PS I looked this up in the forum search, but could find nothing.
 
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vinyl1Offline
Post subject: RE: Tips for buying record collections & lots?  PostPosted: Apr 05, 2014 - 05:39 PM
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It depends on your purpose in buying the lot. If you are a dealer, they typically pay 10% of retail for items under $20, and 20% of retail for items worth more. However, records worth less than $2 should be valued at 0. This will give you some margin for error in your business, and of course you can pay much a much higher percentage for a really valuable record.

So if you're a dealer, and a guy has 1000 records that might retail between $5 and $10, an offer of $700 or $800 is appropriate. Some will take it gratefully, some will be insulted. If you're a dealer, that's the way it is.

If you're buying for your own collection, that's a different matter. Depending on how many of the pieces you can use, you might go as high as 40% of retail. If a lot of the stuff is not that great, you can also make an offer along the lines of $400 for 100 records, your pick. Again, the guy will either say yes or no, depending on whether he is greedy or just wants to get rid of the stuff.

The one thing to do as a dealer is to play fair and not try to the rook the seller. If he has a fabulous collection, you may have to offer $5000 for 1000 pieces. If you do this, you will get a good reputation, and get a shot at the better collections.
 
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Post subject: RE: Tips for buying record collections & lots?  PostPosted: Apr 05, 2014 - 07:05 PM
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::...if the guy on the garage sales looks younger than 22 years old, wait for the "...dad, what's a vinyl record?" question. Rolling Eyes

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Post subject: RE: Tips for buying record collections & lots?  PostPosted: Apr 05, 2014 - 09:56 PM
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f you don't have the experience and knowledge you shouldn't be buying large collections. there's lots of junk collections for sale out there you could loose a lot of money by buying them.

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Post subject: RE: Tips for buying record collections & lots?  PostPosted: Apr 05, 2014 - 11:24 PM
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I've bought a number of large collections (1,000+ records) and have paid anywhere from $0.02 to $0.35 per record. I've also taken in a few very nice 'freebie' collections. In many other cases, I've paid a higher price per record for the privilege of 'cherry picking.' In all cases, I've yet to stumble upon an exceptional, high value collection, e.g. a Jazz collection loaded with rare near mint Blue Note releases. If I did, I'd step up with the cash as needed.

I'm not sure I can offer much advice other than the obvious: You'd better know what you're looking at and your people skills and negotiating ability are important.

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BondtanaOffline
Post subject: RE: Tips for buying record collections & lots?  PostPosted: Apr 06, 2014 - 12:43 AM
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Thanks everybody. Ideally, I'd like to go through the collections, pick what I want for my self, then flip the rest to at least break even. That would work for me at this point.

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f you don't have the experience and knowledge you shouldn't be buying large collections. there's lots of junk collections for sale out there you could loose a lot of money by buying them.


I hear you, but you gotta start somewhere right? haha

Quote:
It depends on your purpose in buying the lot. If you are a dealer, they typically pay 10% of retail for items under $20, and 20% of retail for items worth more. However, records worth less than $2 should be valued at 0. This will give you some margin for error in your business, and of course you can pay much a much higher percentage for a really valuable record.


Thanks a lot for the tips. I am not a dealer, although I have the means to sell certain records privately & in the future may devote more time to that.

I always assumed certain records are really worth nothing, just space fillers/takers. That gives me a better idea on how to look at things.

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You'd better know what you're looking at and your people skills and negotiating ability are important.


Thanks, I will keep that in mind.
 
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Post subject: RE: Tips for buying record collections & lots?  PostPosted: Apr 06, 2014 - 09:33 AM
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I have bought a few collections ( or piles Smile ) The buy is the easy part; the hard part is the handling, organizing, cull and sell. Where is this ( record, case , load ) going? Although you can learn over time; separating the chaff from the wheat before warehousing/ storing would imo be the smart way to go. Cultivate> accumulate. Happy hunting-m
 
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Post subject: RE: Tips for buying record collections & lots?  PostPosted: Apr 08, 2014 - 07:32 AM
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Welcome Bondtana-- Always, always ask the question "has anybody been through these?" and watch for a lie. One knowledgeable guy can cherry pick a large collection and make it difficult for anyone who follows.
True story: this week I get a call from a guy who has a 10,000 piece collection. Been packed away for years. I ask the question. He says "well there was a guy from Oregon who bought a few before I packed them away". Guess who? I'm still going to look at the collection because there still may be stuff I want. Also with a large collection only a certain percentage will be sellable. The show tunes, easy listening, pop singers, Christmas are worth nothing, with a few exceptions. Know the difference between a collection and an accumulation. Good luck!
 
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BondtanaOffline
Post subject:   PostPosted: Apr 26, 2014 - 02:28 PM
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Thanks again for the advice fellas. I bought my first big collection!

I bought 1362 mixed LP's for .20 each off of craigslist. I'm currently going through and discog'ing them. The records are in very good condition.

I also got a GREAT disco collection that used to belong to my uncle with about 550 45's...
 
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