How do you value an audiophile collection of 1,000 records?

Really a tough issue. My guess is that if it is full of really rare records that are in mint or near mint condition, a really knowledgeable dealer could come in an cherry pick the collection and get 95% of the value of the collection in about 50 of the records. Remember the scene in the movie High Fidelity where John Cusack's character visits this woman who is offering her husband's collection of records (while he is away cheating on her).

For example, (I know classical not jazz) if the collection has the 3 Johanna Martzy Bach Sonatas and Partitas on original EMI pressings and 3 of the Leonid Kogan Beethoven, Brahms and Tchaikovsky Violin Concertos on EMI SAX Blue/Silver label Stereo (all in near mint) those 6 records would be worth about $1500 to $3000 each. There are jazz records that may have similar values.

On the other hand, lots of great old classical records (including many of the RCA Living Stereo, Mercury Living Presence, EMI ASD, Decca SXL etc) are worth $10 to $40 each in excellent or NM condition, while others can be worth several hundred each.

They really need a list of the records with the exact label (and even sometimes the exact stamper information - like RCA LSC-2436 1S Pines of Rome) and all important condition - best play graded at the top end. Then a fair evaluation can be made.

Larry

PS. It is really, really important that the seller does not allow anyone to come in and pick out a few of the records. Many times I've seen collections and I can tell in maybe 10 minutes or less whether someone has cherry picked it. If your friend doesn't care about value or rarity, then maybe buying such a collection makes sense, since almost all of the value of the collection will be gone and the remaining records would be worth maybe $2000 to $5000 in a package deal.

The most impartial way is to have a list and if the collection is mixed genre, to solicit several specialist dealers for input in those areas, not just "used record" buyers. They will still quote you wholesale but you can then add a premium to make up the difference. For example, for older pop or rock, EIL is a good buyer and should be straight with you on pricing - what they will pay and what they will sell for. Old blues- John Tefteller. Jazz- that NYC dealer. I haven't dealt with Record Mecca but he commands high prices on oddballs, memorabilia and acetates. Be upfront with them- that you are looking for a valuation and will even pay a modest fee if they are willing to take a look at your list. There may be records your buyer won't want to keep so there is a potential upside for these dealers. I have purchased collections from friends' families and always added a premium just for goodwill's sake. There are also some collectors who may do this as a favor but you will still need a list ( you don't want to limit yourself to local buyers for a knowledge base) but if my experience is any guide most collectors have sweet spots of knowledge in particular genres or eras.

Without a list, I would say $5 a record as a starting point since it's a small collection. Selling a record collection privately is a trust and mutual benefit transaction.

Hi Caesar,

Go to a reputable record store that does appraisals for estate sales and insurance purposes.

Best of luck,
Ken

Alpinist said:

Hi Caesar,

Go to a reputable record store that does appraisals for estate sales and insurance purposes.

Best of luck,
Ken

Click to expand...

Maybe, but remember a lot of these guys are not that knowledgable about particular genres. For example, my local "reputable" record store rep has no clue about Film music, BUT he won't tell you that. Instead he simply guesses and usually way too low.

You say this collection has all of the jazz and classical records an a'phile would want or crave??? That's a VERY BIG STATEMENT, LOL.
The question becomes whether the condition, pressing, rarity, warrant a certain value. Without a knowledgable collector ( NOT a dealer) looking at ALL of the LP's ( and probably using all of the usual published material that we rely on to some extent), I doubt anyone could really give an accurate estimate of value. Is this friend a collector or is he Buying for re-sale....? Too many questions here.

Caesar, if your friend or the owner of the records gets a list together, I would be happy to take a look at the classical records to give a sense of how much they would be worth (wholesale and retail). They would need condition information to be even ballpark (condition can easily be a factor of 10, think coins) useful and also at least label information (like RCA shaded dog or Columbia 6 eye or Mercury dark Maroon - more specific is always better).

Larry

astrotoy said:

Caesar, if your friend or the owner of the records gets a list together, I would be happy to take a look at the classical records to give a sense of how much they would be worth (wholesale and retail). They would need condition information to be even ballpark (condition can easily be a factor of 10, think coins) useful and also at least label information (like RCA shaded dog or Columbia 6 eye or Mercury dark Maroon - more specific is always better).

Larry

Click to expand...

I would be glad to try and help out with the jazz.....

jazdoc said:

I would be glad to try and help out with the jazz.....

Click to expand...

Guys, how many times have LP collectors come to near blows over the definition and expectation of "condition". Remember, to some guys, a VG+ is an EX or a Mint - or even a VG condition. IMHO, I think this little escapade is fraught with potential issues, that I for one wouldn't want to be involved with. Again, IMHO- probably best IF the Buyer does his own due diligence and the Seller the same.

Why not input the collection, or a part of it, into Discogs? That seems like a fairly easy way to objectively value it, other than the condition of the LPs. You can at least see what others are asking for the same title.

And I agree with Steve on the value. $5 apiece as a starting point seems fair to me. Very few people want to buy 1,000 or more LPs in one shot, partly because of the lifting and moving involved. Not to mention writing for what most people is a fairly large check.

If this is a true audiophile collection then it could be worth a considerable amount of money. if I were the seller I'd take whatever time needed to compile a detailed list of every LP, including label, country of origin, year of release, detailed matrix#'s, etc. Don't expect to be offered more than a few bucks if this info is not provided.

For that matter, popsike can show you actual selling prices. As to condition the only way is to play grade (other than to discount for shabby covers or incorrect sleeves). And that isn't practical with a larger collection other than to triage. So there is a range for price based on condition but unless the record is extremely rare it won't be worth much if in bad playing condition. Sure some external indicia like spindle wear may be telling but not definitive.. Going back to market asks and actual selling prices, the per album prices don't necessarily reflect value of a bulk purchase unless the collection has complete series which would tend to bring the price up. I think it is nice that some folks have offered to give rough assessments even if based on qualified assumptions re condition.Much larger collections are bought and sold all the time as a business matter so you find a middle ground.

I remember there is an online reference catalogue of classical record prices at classicalreference.com. It is run by Dave Canfield who ran the largest mail order classical record store, Ars Antigua in Indiana until about 2000. He issued several books (I have the last one, 5th Edition, from 2000) with catalogue and price information. He converted it to an online searchable catalogue which you can subscribe to. According to the website you can have access for a week for $5, a month for $15 and a year for $95. It was updated to about 2005 according to a websource, so prices should be reasonably accurate (these are full retail that Canfield sold records for). I think this is the best source for classical record pricing. Of course, it is ten years old and assumes excellent or better condition.

Larry

VT Skier said:

Why not input the collection, or a part of it, into Discogs? That seems like a fairly easy way to objectively value it, other than the condition of the LPs. You can at least see what others are asking for the same title.

And I agree with Steve on the value. $5 apiece as a starting point seems fair to me. Very few people want to buy 1,000 or more LPs in one shot, partly because of the lifting and moving involved. Not to mention writing for what most people is a fairly large check.

Click to expand...

Excellent post, Jon.

Ken