That A TON of records.

😁

Much appreciated

Thanks!!

Yup! And now the work begins

Thanks!

My pleasure. And I had the same thought about the family, but he didn’t feel that was a viable option for them.

@@NTXVinyl Yep, like most people, they'd rather have the money. I don't blame them because having a record collection is a pain in the butt. lol

Thank you! Cheers!

Thank you so much!

Couldn't agree more!

Thanks so much! I’ll keep investigating this one

Thanks for the info!

Glad you enjoyed it!

Sometimes, yes. Other times they are messy looking and detract from the cover.

I'm assuming you're not near Cincy? Plaid Room is an awesome shop

I feel ya. Always harder to sell when it's stuff I love myself - but you get over it.

It’s all an average. If you gross less than one million $ per year the IRS is very flexible in regards to how you can track inventory.

Wow that was lucky!

Ali Farka Toure was a very interesting person with some great music. Also , it pays to not pass up world music when buying a collection or shopping out in the wild. Don't just pass it by. Check the value. Some of it could be worth big money.

A TON

Yes, absolutely have cameras. Inevitability there will be some theft, comes with any retail biz, but it’s few and far between. As for pricing. Dealing with thousands of LPs per month, visual grading is the only solution. I will only play test if it’s gonna be a $50+ album. We get a handful of returns per month, again…common for retail Vinyl Grading & Pricing Demonstration | Talking About Records kzfaq.info/get/bejne/bNWilJiZuZu3lpc.html

@@NTXVinyl Cool. Thanks.

Great tip! I do the same

Yeah it was based on size of it as whole. With a collection this large that's basically how you have to think about it. You have to factor in the amount of work involved with this many records, the time and costs to move, store, clean, grade, price, etc etc

If it's classic rock and jazz that'll turn over within the next month, I'd offer up to 50% of median Discogs price but they have to be good titles, decent pressings, and near mint. If the collection has country, adult contemporary, Louis Armstrong, Rita Coolidge thrown in, you don't offer much for those. If they range VG or less, avoid or I'll save them for you.

He said he didn't check pressings so he got it away from them on the cheaper side as common sense says you wouldn't pay for a higher amount for unknown or inferior pressings. Early press is usually viewed as an unknown bonus for resellers before Discogs and even Mo-fi gate. If you go to buy a serious jazz or classic rock collection that's loaded, you risk losing it if don't respect and payout according to pressing. Too many records guy from Portland admitted he didn't know any of the pressings on a lot he bought as well so I called him out on it and asked him how did he know what to pay as a buyer. There's represses, OG's, and poorly pressed version that have to be determined. Here's how you buy. Ask buyer if items are in loaded into Discogs. If they are, then your job is easy and just have to check key items and a few randoms and then solidify your offer. If they are not, start taking off percentage points. I'd take off 5 points for starters. If collector puts a rush on me in the evaluation, it won't end good for him if there's any doubt. This is business and the market is becoming bifurcated where represses are not holding as much value and OG's are skyrocketing.

Discogs "value" had zero bearing on this transaction, and rarely does when you're talking about thousands of records - unless of course the owner has them all logged, which is almost never the case on collections like these. Same for pressings. We are talking 3K+ records, so obviously there's no way you can sift through even a small portion of that many albums to get that specific. You have to eye ball it in the 30-60m you have and make a gut call based on what you see. It would take days/weeks to actually go through the albums, and you never have that time prior to purchasing. In this case (like most) I paid a couple bucks an album or so. Given the work load involved to move, store, clean, grade, and price this many albums the seller was more than happy with that, and understood the work involved. Will I make a profit in the end? Yes, I'm confident I will, but only after months of work.

@@NTXVinyl that makes sense to me. I always think $2-4 per album if I’m looking at a large set, maybe $5 tops if I see stuff that I can research in advance and know it’s valuable. Appreciate your videos, my dream is to open a shop some day in MA. For now I’m loading up for the summer where my town has a very popular weekend market.

@@DorianPaige00 Yep, I burned myself on a Miles repress I thought was an OG… now I know what I’m looking for. Sometimes overpaying is the cost of admission to getting better at buying/selling. As long as you learn from it, you’re good.

Volume actually does have a drastic effect on value. Will take weeks/months to go through 3K+ records to determine specific pressings, condition, etc. so you make an offer based on your gut of what you hope to find. The seller typically needs it gone, and are aware they aren’t gonna get anywhere close to “market value” - that’s what a record store can charge after the months of organizing, cleaning, grading, sleeving, pricing, selling.

The collections value doesn't mean much when someone else is the one that's going to have to do all of the work and price them. I don't know how many times I see comments like this online. It's just completely ridiculous on its face. Why don't you tell the grocery store to sell you a bag of potato chips at their cost and see what they tell you.

@@agomodern yeah most people have no idea how much work/time it takes to deal with even a small collection of a couple hundred LPs

great tip! These were only there a couple weeks.

@@NTXVinyl Should be OK then. This is more for people who put them there and don't see them again for 5 years, especially in a storage unit where the foundation is rather thin.

Sorry to disappoint 🙄

@@NTXVinyl I'm sorry you had to waste your time reading such a ridiculous comment. lol