Record Age & Scarcity
Vinyl records can easily raise a five-figure value, depending on how old the record is. But age alone does not make the record a high-value collector’s item. Most records for example, may come from popular recording studios or may feature popular singers like Elvis Presley, but will not fetch a remarkable high value because the 1950’s Elvis Presley records were released in large numbers and therefore, will not really be scarce at this point in time. Owing to the laws of economics, when demand is high, but supply is low, prices are higher!
Physical Condition of the Record
The vinyl records must be in good physical condition in order to command a good price. These are categorized as “mint” conditions and are considered as one of the most sought after items in the vintage market. Therefore, if you are collecting records for the reseller money, then you may need to resist putting that record on the player over and over…But, if like me, you buy records for pure pleasure, then you don’t need to worry about that coffee stain on the sleeve 😉
To make sure that the vinyl records are truly of value, they must come still with the original cover and packaging, including free items like lyric sheets and other memorabilia. The 60’s EPs especially comes in thick cardboard covers which commands at least $1,000 dollars in the current market. Records without covers, unless very highly sought after, are generally without value.
Type of Record Released
The type of record also plays an important role in determining the value of the vinyl record. Some records are specifically released as mono or stereo version. Normally, the mono editions of these albums are thrice as much in value as the other vinyl records. The same could be said of records made in original pressings, as well as those which were issued as promotional copies to radio stations.
Vinyl records as collector’s items are truly in-demand today. The music lovers put a premium for the beautiful melody of the past and the artists from whom most of today’s revivals and music genres were derived from. Depending on the popularity of the artist, the rarity of the album, and the completeness of the packaging, some vinyl records are worth small fortunes!