Why your old vinyl could be worth a fortune: First editions of limited run records could be now fetch five figure sums
- If you were a shrewd collector back in the day, you may be sitting on a fortune
- First editions of limited run vinyl records could be worth five figure sums
- The first edition of the Beatles White Album was owned by Ringo Starr
The Beatles: George Harrison, John Lennon, Paul McCartney and Ringo Starr
Vinyl is now outselling compact discs for the first time in four decades – with more than five million records expected to be sold in Britain this year.
The resurgence of interest has turned a once near obsolete playing format into not just the purest way to enjoy music – but also a shrewd investment.
The driving force behind the renaissance has been a realisation that the quality of sound you get from enabling a needle to track the grooves on a 12-inch disc can be far superior to anything you get from listening to music streamed or downloaded off the internet – or the sound of a digital compact disc.
This is because many believe records are able to provide a greater depth of sound – providing warmth and a power to give you goose bumps.
Vinyl is also more tactile with far better artwork on the record cover than you might find on a CD box. And even the pops and crackle from a scratch can add a sense of nostalgia.
The best vinyl investments are records of bands with international appeal that have stood the test of time – and can be enjoyed by several generations of music lovers. This means music from bands such as The Beatles, The Rolling Stones and Pink Floyd is always in demand. Much-loved solo artists such as Frank Sinatra, Elvis Presley, Bob Dylan and David Bowie also command top price for early recordings.
But before getting excited about that trunk packed with vinyl, you should be aware that it is usually only first pressings that have any value – and are sought after as investments.
These represent the first time the music was released – before anyone knew a timeless classic record had arrived.
Discover a copy of The Beatles White album in the attic from 1968 and it might be worth as much as £7,000 if in the initial batch of releases.
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The ‘number one’ disc first off the press was owned by band member Ringo Starr and is worth £730,000. Although reissues of this album still offer the same fantastic music, they sell for only £20.
The record company logo and issue code on the disc and sleeve provide you with the specific details required to find out if it is a first pressing. The industry bible The Record Collector offers all the information of each release and what makes collectable vinyl.
Its publication the Rare Record Price Guide 2020 costs £24.95 and is an invaluable resource for record collectors.
Only a 100 copies of this cult album were made. One copy recently sold for £10,000
Website Discogs is another invaluable source of information – offering details of all the different pressings of records made over the years as well as a marketplace where you can look at prices and trade in old vinyl.
Although website dealers provide a good way to find records that you might be interested in buying, there is no substitute to visiting a record store – especially for novice investors.
You should also be wary of bidding on auction websites for vinyl that is unseen where descriptions can sometimes be misleading.
Jean Michel Jarre’s Music For Supermarkets is rare as the masters were destroyed
Visiting in person also enables you to see first hand the quality of the record that is being sold. Vinyl is professionally graded – and collectors understandably want the best quality available.
Be wary of buying a grade ‘good’ as this description is misleading. The record might be playable but badly scratched – so not good at all.
Even ‘very good’ is not that great because it indicates the record is well played even if not too damaged. Investors are usually most interested in buying ‘mint’ or ‘near mint’.
Some of the prices vinyl records have sold for recently. Rare records go for thousands
A mint quality record is worth more than double that of ‘very good’ vinyl. The grading system is separate for the disc and sleeve – so ideally you want both in tip-top condition with an original inner sleeve also included.
Browsing through racks of records in search of inspiration is a key part of the appeal of collecting vinyl – and when deciding to invest it is worth scouring the market in search of music you enjoy to make the pursuit more rewarding.
It is not just first pressings but limited edition covers, coloured vinyl and picture discs that can turn out to be good investments.
For example, The Rolling Stones 1967 album Their Satanic Majesties Request is worth £2,000 if it is issued on the rare silk-padded sleeve – but without this the same record might cost just £50.
It is not just older records that can be worth money – as the resurgence of vinyl means current artists are also releasing their music as records.
To keep modern listeners entertained this vinyl often comes with download codes included within the packaging to enable customers to listen to their music through their smartphones when on the move – and not sitting by their record player at home.
Despite the success of vinyl, it is still dwarfed by online streaming with its sales of £1 billion.
The last David Bowie album Blackstar – released two days before his death in 2016 – initially sold for about £20 but first pressings can sell for more than £100 if still in top condition. Clear vinyl £30 Blackstar special editions can fetch £300.
For details of your nearest independent record shop visit website Record Store Day UK. Every year more than 200 of the listed shops take part in a one-off sale – in 2020 it is on April 18 – which includes vinyl specially released for the day.
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