really expensive records...

[ivan_smackhead]

...who buys them?

one of the first things i do in the morning (before i even check emails) is look at collectorsfrenzy or gripsweat.

the prices of the records are astronomical in some cases. so, i'd like to know who buys this stuff?

does anyone here know of anyone who spends this sort of money? (no need for names, just the record and price paid).

is it poor guys maxing out their credit cards, rich guys buying an investment or an uber-gripper/flipper hoping to make even more money in a private sale?

[jb stanislas]

...who buys them?

one of the first things i do in the morning (before i even check emails) is look at collectorsfrenzy or gripsweat.

the prices of the records are astronomical in some cases. so, i'd like to know who buys this stuff?

Well, they're probably not smackheads. They would use the money that would otherwise be spent on smack, to buy (rare) records.

[Brass Monkey]

I've just had an electrician do some work on my house, he went to the post office everyday to pick up records - 3,4 or 5 everyday, mainly northern, all expensive. Divorced with two jobs. He spent from £30 to £400 on each.

[jb stanislas]

I think this is the wrong forum to ask the question on if you really want to know and get an in-depth answer. If you asked it on Psychedelica, you would have the biggest dealers in the world like Pete Bonner, Walter, Lucio, Taro, Hans etc.. possibly anwering. They have the biggest-hitting clients on their database, to start with.

[Carlitos]

Well, they're probably not smackheads. They would use the money that would otherwise be spent on smack, to buy (rare) records.

[Beater Pan]

I think with prices already up on a general scale, even not so rare stuff, its becoming harder for the average digger Joe. The people I see haggling at record fares about 50-100+ € records go around with suitcases and are on phones already reselling stuff, its pretty insane. It kind of takes the whole love of the music part out of the experience in my opinion. Im always stoked to find a record that Ive been looking for, only to see that anything above 30-40 quid is really not in my budget. Sure, having the OG press of Kind of Blue would be cool, but im glad just to have the repress and enjoy the wonderful music while still having a few bucks left for the month or other records. Luckily, at least for me, we nowadays have all these labels re-releasing stuff like the rather unheard old (Northern) Soul stuff and of all sorts of genres, i.e. Kent or Numero for example at more or less reasonable prices..

[peretti]

It seems to me that at the moment the mid-price records that have hovered for years around the around £40-70 are selling for less than ever while the prices for super rares just keeps on shooting up. I don't really understand it but it seems that prices for holy grails only ever go in one direction while prices for everything else veer wildly across the years.

[emperor tomato ketchup]

It seems to me that at the moment the mid-price records that have hovered for years around the around £40-70 are selling for less than ever while the prices for super rares just keeps on shooting up. I don't really understand it but it seems that prices for holy grails only ever go in one direction while prices for everything else veer wildly across the years.

I think this is dealers who HATE the ide aof ever selling a record below "market" value. So if there's a whiff that soem nutter spent £XXXX then nobody will sell for less than that. So if its proper rare then someone will bite. Eventually.

[Shere Khan]

If they are Jazz records it's quite likely to be somebody Japanese. Some of the shops out there have pretty much cornered the market in this sector I think. Looking at, for instance, the first Led Zeppelin LP on Discogs there are so many pressings in the first year I'm left wondering why you would pay £1000 + for a first issue when you could have a copy from the same year for £15 or less. If a record has only one pressing, and is seriously rare, that's a different matter. However, that's not a tussle that someone like me is going to be involved in. I don't know anyone who pays a lot of money for records but then I don't know anyone.

[SirSlim]

I don't know anyone who pays a lot of money for records but then I don't know anyone.

I think you'll find that you do - there are a few on this very site...

[medlar]

http://www.thisismoney.co.uk/money/i...-comeback.html

[Headless mermaid]

My irrelevant 2 cents:

At a mini-fair last weekend a guy had some expensive rarer jazz classics: art blakey moanin for 200 euros, art blakey the big beat for 55 euros, sonny rollins alfie for 100 eurosand such. didn't even care to look at pressing and condition. for such wellknown titles it's somehow not as thrilling seeing a perfect first press as something obscure and different.

[Expiry2011]

As far as I'm concerned there are two types of big ticket items:
1. First pressings of 'classics' - as mentioned by many people above. If you are the kind of collector who wants OG Rudy Van Gelder first press Blue Notes then you will pay the going rate for them as nothing else will do.
2. Rarities and obscurities. An amazing record only pressed in small numbers or in some other way difficult to get your hands on. In my experience these are the kind of things that have a more 'floating' price tag - if you wait long enough you can often pick them up for less from people who don't appreciate their value

There are similarities with the art market. People who have money don't want to take a chance on something they don't know if they will like but they do want to buy something that shows they have money and taste. Therefore, what better way to do that than buy an OG EX/EX example of something that most people will recognise (Pink Floyd, Led Zep, Miles Davis etc.). If you buy a Picasso or a Gauguin everyone knows you've got lots of money and taste (albeit mainstream)
However, as the only people that are going to be impressed that you've managed to find a copy of the Deidre Wilson Tabac LP are other record nerds, these kinds of records will never be truly popular with the moneyed buyers.
This keeps the top end of the market robust as the signifiers of wealth remain largely the same and the supply is tight. The mid range (i.e. mainly record nerds) is much more susceptible to changes due to taste and fashion.

And, as has been pointed out in other threads of this type, the kinds of money we're talking here are pretty small when compared to other forms of collecting. If you want an E-Type Jag you're looking at about £75,000 - how many records could you get for that amount of money!!!!!

[Plainstone]

If they are Jazz records it's quite likely to be somebody Japanese. Some of the shops out there have pretty much cornered the market in this sector I think.

10 years ago I would have wholeheartedly agreed with you, but now it's as likely to be a Russian collector. I've met several Russian buyers here who supply shops in Moscow and St Petersburg, and also come over here with lists from individual collectors ... and in one case, a special credit card set up for him by the collector. Can you imagine being 20 or 21 and given an A4 list of records, a plane ticket and a credit card and told to pop over to Japan and buy as many as you could until the card was maxed out? Different world.

Most of the Japanese Jazz fiends I know are older guys who have retired and are happily blowing their golden handshakes on OG Blue Notes, but won't touch eBay or the like, preferring to buy from a reputable domestic shop.

[Shere Khan]

I think you'll find that you do - there are a few on this very site...

I don't doubt that, Sir Slim, but I'm not personally acquainted with anyone on here. I wonder what the panel thinks is an upper limit to pay for a record? I think I couldn't pay more than £50 for a record no matter how rare it was. I've never actually paid £50 for a record but I can see it's just possible that if it was a really great record, very hard to get hold of, and I was flush I may just think "To hell with it, it's only money. I'll take that record sir". I don't say others shouldn't pay more it's just that I couldn't really justify it- I'm not a DJ, or a broadcaster, and it's only me, Mrs SK, and the kids who'll hear it. Let's face it, most of the best stuff costs next to nothing.