MAKE sure you dust off that old box of vinyl while doing your spring cleaning – you might just be sitting on a goldmine.
Like any collectables, the value of vinyl records can vary hugely from as little as £1 up to thousands of pounds.
Martin Huges is a vinyl records specialist at Wessex Auction Rooms
The vinyl revival is well underway, so it’s the perfect time to see if there’s money to be made from your old collection of LPs.
But spinning a decent profit from your records can take a little more effort.
Martin Hughes is a vinyl records specialist at Wessex Auction Rooms and knows exactly which records will make the most money.
There are many factors to think about, including when the record was made, how many were released, the condition and how many people might want to buy it.
The marketplace can be a bit of a minefield if you don’t have specialist knowledge, though.
If you do want to call in an expert, there are different routes to go down.
An auction house like Martin’s takes a cut after the item goes under the hammer, so he wants to achieve the best possible price for the items.
Once you’re ready to sell, you may find it pays to get some expert help.
If you’re happy to go it alone, a huge number of records are sold on eBay.
So what are collectors looking for? HOAR picked Martin’s brain to find out his top tips on looking for value.
The more obscure – the better
If you’re sitting on a huge collection of records by obscure bands, then you could be quids in.
The more obscure the band or the genre, then the more valuable the record is likely to be, according to Martin.
He added: “Smaller and more obscure bands are likely to have sold fewer copies and therefore be highly desirable to collectors.
“If you’re looking through your own collection, or maybe your parents’ records, then look out for anything that looks a bit weird.
“By this, I mean band names or genres that you don’t necessarily recognise straight away.”
Northern Soul records, as well as folk and prog rock albums are key genres to keep an eye out for, Martin said.
He recently sold a Northern Soul record called Please Keep Away From Me by Elbie Parker for £820.
He said that whilst that is a huge amount for one single, some rarities have been known to make thousands under the hammer.
But records by popular punk bands like the Sex Pistols can also fetch high prices at auction.
Martin said: “Despite the cultural significance of bands like The Sex Pistols, punk still remained more of a sub-genre.
“This makes the records really valuable because they weren’t in lots of people’s collections.”
A first pressing of The Sex Pistols album Never Mind the B****cks is fairly common but rarely found in great condition, Martin said.
He added: “A first pressing in excellent condition with the free 7” single and poster could be worth upwards of £400.
“I recently sold one in our specialist auction for £600.”
Back to the 90s
Some vinyl, such as mass-produced records from Sixties crooners, for example, may be heading straight for the charity shop.
While records by big nineties Britpop bands like Oasis, Blur and Pulp can sell for a few hundred pounds, depending on their condition.
Martin said: “1990s vinyl is the hottest vinyl on the market.
“Everybody things that for bands like Oasis, that because they were selling millions of albums, their vinyl are worthless – but it’s not true.
“Everyone was buying these albums on CD and only mega fans were buying it on vinyl.
“The people who did buy the vinyl are likely to still be holding on to them, meaning they really come on the market. This makes them really valuable.”
Albums released by big bands in the nineties could sell for hundreds of pounds at auction, according to Martin.
“I have sold a copy of Oasis’ first album Definitely Maybe for £250 in excellent condition,” Martin said.
“But even if the record is played and with a little storage wear to the sleeve, it will still command more than £100.”
Singles vs Albums
There are two different markets for singles and albums, according to Martin.
Albums can be popular with enthusiasts for a number of reasons – some may just be fans of the band, while others may like the artwork.
But singles are mainly popular with people looking to complete their collection, making the market for them smaller, Martin said.
“You are less likely to find a single that’s worth a significant sum,” Martin said.
“Singles from the 1960s and the 1970s were often being sold in their millions, so they aren’t particularly rare.”
But Martin said he did recently sell a rare single from Marc Bolan – lead singer of the band T.Rex for £600.
So while albums are generally more valuable, you could just be sitting on a hidden gem.
If you are lucky enough to find a record you think could be worth something, you can check on eBay to see how much it’s sold for.
You’ll want to check that the sale was genuine and the item real, so take notice of the seller’s reputation, including feedback and how long they’ve been on the platform for.
If you think you can sell it on then check out these top eBay selling tips before you do.
Condition isn’t necessarily everything
If you think you’re sitting on a valuable record, don’t be put off if it’s not in the best condition.
Martin says that while mint condition items fetch higher prices, you won’t necessarily miss out on a sale if it’s a bit battered.
He added: “The grading for the condition of records goes from poor to mint – but something that comes in nearer the top of that scale can still have surface marks and scratches.
“You can have a record that has a really grubby sleeve that still plays perfectly fine – and that’s the most important thing.”
Martin said he has known individual singles sell for hundreds of pounds without sleeves – so don’t disregard something just because it isn’t pristine.
Check if you have a first edition
If you have a first edition of a band or artists’ first album then you could be be onto a winner.
A unique edition of Led Zeppelin’s self titled first album, for example, could be worth more than £1,000, Martin said.
The first pressing was issued in a short-run with turquoise lettering on the sleeve before it was changed to orange.
This makes the turquoise version highly-sought after by collectors.
A first pressing of The Beatles first album Please, Please Me in stereo, rather than mono, can also sell for more than £1,000.
Martin said: “The album was released in both mono and stereo, but back then, very few people had stereo equipment.
“This meant that more people bought it on mono and the stereo versions are now pretty rare.
“A few first pressings of Please, Please Me were also released with gold writing on the label, before it was changed to yellow.
“So if you have a gold version in mono, you could get up to £300 at auction.
“But a stereo version with the gold writing could be worth upwards of £1,000.”
Meanwhile, we revealed the most valuable and rare cassette tapes worth more than £3,700 revealed – do you have one?
Plus, an antiques expert told us how you could have £2,000 hidden in your attic.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]
