When selling old records, age is only one factor that determines value.
Inspired by tales of five-figure online auctions, lovers of old vinyl records are scouring their "ABCs"--or "Attics, Basements and Closets"--in hopes of uncovering forgotten treasures that someone else has overlooked. However, age is not the only factor that must be considered. To determine whether an old record is really worth selling, would-be vinyl hounds must take many factors into account, including its condition, demand and scarcity.
Scarcity
Simply stated, an old record's price boils down to what someone will pay for it. However, scarcity often trumps age in the marketplace. Records issued in large quantities that remain readily available--such as 1950s-era Elvis Presley singles--carry lower values. Conversely, rhythm 'n' blues, doo-wop and teen pop albums released during the '50s are more collectible, because they appeared on obscure labels, and sold 10,000 or fewer copies.
Historical Interest
Filling in the blanks of specific historical eras--such as post-World War II rockabilly, or unheralded '60s-era girl groups--naturally prompts collectors to prize certain records above others. For those reasons, rhythm 'n' blues rockabilly records issued from 1948 to 1963 often command the highest prices. Records by certain artists--such as Kiss or the Rolling Stones--also sell well, because of their fans' desire to own every release associated with them.
Condition
Condition is everything to a collector looking for near-perfect copies of favorite records.
Records in "mint" or "near-mint" condition are the strongest sellers. These grades are reserved for old records that look--and sound--as they did upon release. Unless a record happens to be extremely rare, collectors suggest that it's not worthwhile to sell releases graded below "EX" or "excellent," since their value drops off considerably. For example, records graded as "P" or "poor" earn just 10 percent of their original cover price.
Completeness
Records that retain their original packaging carry a higher market value.
Keeping all original packaging and related items cannot be emphasized enough. Albums without covers have no value whatsoever. Many '60s-era EPs were also issued in distinctive heavy cardboard covers that now fetch about $1,000. Without them, the value is greatly diminished. This rule also holds true for singles issued with original picture sleeve artwork. A single with those features is worth about three times the same record that lacks them.
Types
Paying attention to the type of release is also important. Original pressings mean more to collectors than later ones, which have a lower overall market value. Another critical dividing line is whether the record was issued in stereo or mono. Depending on the release, mono editions of classic albums are worth three times more than their vinyl counterparts. Promotional copies that were specially prepared for radio stations carry higher values as well.
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