Islander Posted April 25, 2013 Share Posted April 25, 2013 I don't know if this has been posted recently, but this guy has a huge collection that he wants to sell. Sadly, there seem to be no takers. http://gizmodo.com/5038783/worlds-largest-record-collection-is-worth-50-million-no-one-wants-it-for-3-million Quote Link to comment Share on other sites More sharing options...
CECAA850 Posted April 25, 2013 Share Posted April 25, 2013 He obviously hasn't posted it in the Klipsch Garage Sale section yet. Quote Link to comment Share on other sites More sharing options...
Daddy Dee Posted April 25, 2013 Share Posted April 25, 2013 wow. thanks for the link. the guy has a genuinely interesting story. i've been trying to imagine how much floorspace the guy's warehouse must be to store that many records. looked around to find a little more info on the man. it would be a major undertaking for a library or other organization to responsibly receive the collection as a gift. http://en.wikipedia.org/wiki/Record-Rama Quote Link to comment Share on other sites More sharing options...
wuzzzer Posted April 25, 2013 Share Posted April 25, 2013 So the collection is comprised of records that I'm guessing have never been opened or played. 3 million of them. The amount of time to physically move them from one location to another would be enormous. If someone listed 500 of them per day for sale it would take them over 16 years just to list them all. They would have to list approximately one record per minute for 8 hours, 7 days a week. I guess if someone had $3 million to spend on them and had nothing to do for the next 20 years it could be profitable. I suppose we could start a fund and all of us go in on them? [] Quote Link to comment Share on other sites More sharing options...
Boxx Posted April 25, 2013 Share Posted April 25, 2013 I was interested in purchasing this collection, however the 45 rpm selection is pretty weak. Count me out... lol Quote Link to comment Share on other sites More sharing options...
tigerwoodKhorns Posted April 25, 2013 Share Posted April 25, 2013 The labor involved makes it a deal breaker. I looked at this and thought that I know people who would jump on this if it is just a matter of liquidation. Guessing $3m to acquire, $7m for long term labor for liquidation and expenses, most of which could be financed by proceeds from sales, and a $50M total income for a net return of about $40M on a $4M investment assuming a $1m hard cost for initial storage and labor before the deal starts payign for itself. But in all likleyhood, there is no profit to be made. The issue is the value of each record. He has 1M LP's and 1.5M 45's (per the PBS video). Are these worth $1 each (almost break even with no other expenses) or will they be sold in lots of 20 for $5 to dispose of them. There is also tremendous labor involved. He has had this collection for sale for $3M since at least 2008. I'm sure that pros have looked at it and realize that this is a losing proposition or it would have been sold long ago. There are also responses on the internet from people (who knows if they are true) where they say that they have looked and he has already sold all of the gems. Quote Link to comment Share on other sites More sharing options...
seti Posted April 26, 2013 Share Posted April 26, 2013 It would be sad not to keep the collection together. Not much like it around. The time it would take to sell these records is the problem. Talk about flooding the market. Quote Link to comment Share on other sites More sharing options...
Daddy Dee Posted April 26, 2013 Share Posted April 26, 2013 yeh. i was thinking about flooding the market. even keeping up a good flow of vinyl would probably really drive down the price on ebay. Quote Link to comment Share on other sites More sharing options...
Quiet_Hollow Posted April 26, 2013 Share Posted April 26, 2013 The man definitely has a romantic appreciation of vinyl. I agree there is some cause for concern regarding the historical preservation of the music itself, but there's no reason that the content has to remain on the records if that's the case. Transferring the data would be a daunting task, to say the least. [:|] It is what it is though. Who could possibly enjoy the entire contents of that large of a library in a single lifetime? It's physically not possible. Quote Link to comment Share on other sites More sharing options...
Islander Posted April 27, 2013 Author Share Posted April 27, 2013 It would be sad not to keep the collection together. Not much like it around. The time it would take to sell these records is the problem. Talk about flooding the market. If there's only one of each title, I don't think flooding the market would be an issue. It's not like he has 10,000 copies of Thriller or Breakfast in America. Or Frampton Comes Alive. Also, it doesn't sound like it's a themed collection, as in one genre of any kind. It's a huge lot of LPs that could be divided up to make lots of more practical-sized collections. Quote Link to comment Share on other sites More sharing options...
Daddy Dee Posted April 27, 2013 Share Posted April 27, 2013 well, does the same collection and more reside in the Library of Congress? converting to another format, say, 'wav' would be difficult indeed. it would require recording at ordinary playback speed in real time. no? Quote Link to comment Share on other sites More sharing options...
seti Posted April 27, 2013 Share Posted April 27, 2013 It would be sad not to keep the collection together. Not much like it around. The time it would take to sell these records is the problem. Talk about flooding the market. If there's only one of each title, I don't think flooding the market would be an issue. It's not like he has 10,000 copies of Thriller or Breakfast in America. Or Frampton Comes Alive. Also, it doesn't sound like it's a themed collection, as in one genre of any kind. It's a huge lot of LPs that could be divided up to make lots of more practical-sized collections. Even if you break it up into genres. The time it would take to sell is staggering. Hell the time it would take to sort is staggering. You need a young millionaire to buy it. lol I've helped manage my friends records numbering in the thousands and that was no fun. It is a problem I'd like to have though... Can I borrow a few mil.... Quote Link to comment Share on other sites More sharing options...
Daddy Dee Posted April 27, 2013 Share Posted April 27, 2013 sure. i can write a check! Quote Link to comment Share on other sites More sharing options...
tigerwoodKhorns Posted April 27, 2013 Share Posted April 27, 2013 This reminds me of local ads that I alwas see where people are trying to sell their palm trees on Craigslist. It is always followed by "come by and dig it up." Basically worth nothing while still in the ground. In a box on a skid and not in horribel shock, then it has value. Quote Link to comment Share on other sites More sharing options...
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