Most of the 7-inch diameter 45 RPM LPs were very popular between 1949 and 1989. While some of these items were priced very cheaply, some sold for millions of rupiah. It doesn't matter if you are a great record collector or the owner of several worn-out vinyl records, there are many ways to rejuvenate the item and sell it for a profit.
Step
Method 1 of 3: Setting Up a Record Collection
Step 1. Determine whether the disc is a rare or high-priced object
It's important to know if your dish is an expensive rarity. Look for 45 RPM discs of the rock and roll or R&B genre and single albums in original packaging, as well as first-release albums.
- Rock and roll and R&B vinyl records that are still complete with the original 1950 packaging have a minimum price of Rp. 100,000 and most are priced up to more than Rp. 1,000,000.
- Single albums were only made in the 50s and 60s. Rock and roll and R&B albums in cardboard packaging are priced at a minimum of IDR 200,000 and most are priced up to more than IDR 2,000,000.
- The first production album has a higher value than the second, third, and subsequent productions. These albums are known as “originals” which were purchased when the record was first released.
- Album productions after the first printing can usually be recognized by the difference in the image or the color of the label.
Step 2. Check the condition of the record
The condition of a record is usually determined by the Goldmine Standard. This rating has a variety of scales, ranging from very good to average. This condition is judged by the quality of the LPs and their visual appearance. There are many professionals, either online or at a music store, who can help you assess the condition of a record if you are inexperienced.
- When determining the sound quality of a vinyl record, listen to the entire recording content. Pay attention to the sound of needles scraping, scratching, bubbling, and other flaws in the recording.
- Use a large-lumen light source, such as sunlight or a halogen lamp, to look for flaws in the record and its packaging.
- Do not sell used LPs without packaging, discs that sound noisy or discordant when played, and are full of scribbles or duct tape on labels and packaging.
Step 3. Catalog your LPs
After checking all the records and deciding which ones to sell, make a list of album titles, group/singer names, and conditions. Also, include important information to identify the album, such as rarity value, first edition, etc.
Method 2 of 3: Determining the Right Selling Price
Step 1. Use online price guide data
There are many price guides on the internet that can help you determine the selling value of vinyl records based on their type and condition. Take advantage of databases like iGuide currently developed for Jon R. Warren, a collectibles expert since 1985.
Step 2. Use the price estimating feature on eBay
The eBay buying and selling website has a price estimating feature to help you determine the right price for a record based on the average selling price of similar products on eBay. Visit the seller center, log in to your account, then type the name of the item you want to sell in the text field and press “Search”.
Step 3. Take the record to an appraiser or collector
When looking for an appraiser or collector, make sure the person has a specific certification, such as from the American Society of Appraises, Appraisers Association of America, or International Society of Appraisers. Appraisers charge a fixed rate or an hourly rate that ranges from IDR 2,000,000 to IDR 4,000,000, depending on their expertise. Upon completion, he will provide a written report regarding the details of the record, the pricing procedure, and the current price estimate.
- To ensure a fair price estimate, seek the opinion of an appraiser before taking your item to an antique shop or seller. The appraiser has no conflict of interest as he or she is ethically prohibited from purchasing the item that has been appraised.
- Avoid appraisers or collectors who charge a percentage of the item's sale value instead of charging a flat or hourly rate.
Method 3 of 3: Creating an Ad to Sell Records
Step 1. Decide where you will sell the LPs to
There are many places to sell vinyl records, either online or offline. You can choose to sell each item individually or in packages. Some advertising is free, while others charge a special fee.
- Craigslist is probably the easiest and fastest way to sell LPs. The advertising is free and you should usually get a response from potential buyers within a few days. The website also provides space for bidding and making redemptions.
- eBay allows you to sell items at an auction or “current purchase only” price system. Advertising is free, but additional sales features may incur additional costs.
- The Goldmine website allows you to advertise for free and sell your entire collection of records to a single dealer who also uses the website. This website also allows you to advertise your entire product in a single post.
Step 2. Write a detailed description of each record you want to sell
This includes: album title, artist, full track list, label, and album release number. Include details about the condition of the album and be sure to use the words “mint” or “new” if the album has never been used. Also include special additional information, such as the rarity or edition of the album.
Step 3. Upload a clear photo of the album you want to sell
Use a high-quality digital camera to take photos of the front and back of the album packaging, as well as the album itself. Place the photo in front of a plain background (such as a white sheet) and avoid using a flash that can cause reflections.
Move as close as possible when taking the photo to get as much detail as needed
Step 4. Set a fair price
This price should be set based on the results of the assessment, for example with the appraisal feature on eBay or the use of an appraiser. Leave some room for negotiating the price, especially if you're selling it on Craigslist, which is notorious for being a bargaining chip. Even if you place an ad on an auction site, you must still include a minimum purchase price.
Step 5. Include contact information
Most websites ask you to set contact options, such as a personal email, email through a website (like eBay), or a phone number. Make sure potential buyers can contact you easily to complete purchases and get payment information.
Tips
- You can take the vinyl records you want to sell to the nearest record store to see if they'd like to buy them. Most stores will only buy and sell the latest CDs, DVDs, and albums, but they can provide information on other local sellers who may be willing to purchase them.
- Create a PayPal account so you can receive online payments more quickly and securely.
