Estimating The Value Of Your Record Collection|
Posted on Saturday, July 08 @ 15:42:37 EDT by steveoptix
Topic: Tips and Tricks
There are various methods in which you can estimate the value of your vinyl recordings. Some are simple, others require a certain amount of leg-work. Whether you are buying, selling, or just curious about the value of your collection, it's important that you take the time, and do your homework. After all...the more research you do now, will either save you or make you money in the long run.
Using published record price guides is perhaps the most common and easiest method for establishing the value of your recordings. Available from a number of sources, price guides can be obtained at full retail price, discounted price, or used for free.
Local book stores will usually offer a number of price guides and collector's catalogs. If you find that the selection is limited, they will order a specific guide for you...if still in print. The major advantage of purchasing a book from the local book store is the ability to actually view the item that you are about to purchase. You may decide that, after flipping through the pages, the guide is not suited to your needs. Where as by buying off the internet, you don't have that luxury.
Online book outlets make it easy, you just let your fingers do the shopping! Plus, they usually have a far greater variety of price guides and collector's books to choose from. Because of low overhead, or their cost to operate a business, they can often offer merchandise at a discount. Two of the largest online book stores are Amazon.com and Barnes and Noble.
The library will sometimes carry a price guide or two. If they don't have the book you want, perhaps they can have a copy transferred from another library within the region. Although the guide may not be a current edition, it's use is free.
The local record store may be an excellent source of information. Either by browsing the bins, looking for the same or similar discs that you have in your collection. Or just by asking the salesperson behind the counter.
The online record store may offer similar advantages as the local record store. Most frequently, online dealers will have a listing of the records that they have in stock. Or, if their collection is extremely large, they may even offer a search feature. And like the owner of the local shop, the online dealer may offer a free quote.
A great place to find online record stores is the Record Collector's Webring .
Online Auction Houses
An extremely popular method for buying or selling records has been the online auction. Here you can check the final auction price that a record has been sold for, also you can see how many bidders battled it out to win the record, giving you an indication of the interest surrounding it. Although this might not be a true indication of the record's real value, it does show what collector's are paying for certain discs. There are a number of online auction houses to choose from but most certainly the largest is eBay.com.
The Bottom Line
As with all price estimates...it's a ballpark figure! A lot has to do with the physical condition and demand for the disc.
The bottom line, as with all collectibles, is that the value of the item is based on what the market is willing to spend. Hopefully, by using some of the sources included on this page, you will be able to establish a fair market value for your disc or collection.