My friend has a VERY valuable record. Advice on how to sell it?

I'm simply a music fan, while a friend of mine finds and sells records as a side gig. He happened on a holy-grail level record and I'm looking for recommendations besides eBay. I don't do much online selling. I'm assuming that eBay's take is big and want to make sure that his profit doesn't get destroyed with fees and what-have-you.
Anyone ever sell something big online? By big, I mean tens of thousands.


Dan

 

I suggest your friend contact an auction house that sells music if it's that expensive.

 

The more expensive/rare the record, the more words you'll need to use to sell it.

(And to convince buyers it's worth it.)

 

In the end someone is going to get a piece of the action for helping maximize $ whether is an auction house, discogs or eBay.

There are so few records worth tens of thousands that advice would be on a case by case basis…there is not a one fit how to maximize $…. One would need to know the artist, title, etc

 

If it is Robert Johnson shellac 78s level he should look at Bonham’s Auction house and others. He should have it insured already.

 

Indeed. What is the record? Get some buzz going.

 

Unless he has an established presence or client list, he is going to have to take a hit from someone who does. Whether it is in fees or wholesale discount, not paying is rarely an option.
People rarely appreciate the added effort, time and risk it will take to forgoe paying the piper. And it is very rare they find out it was ultimately worth it to do so.

List it on Discogs and wait. If it sells, pay the fees and be happy you made enough to do so.

 

Have him join and sell here? Discogs? Would help knowing what the record is to give the right advice.

 

I wasn't going to say, but it's The Freewheelin Bob Dylan, stereo commercial copy with the 4 deleted songs, wide track 3, 1A matrix. Checks all the boxes.
If you wanted buzz, I'd say that's about as buzzy as it gets.


Dan

 

I thought that was it!


I would list that on discogs. Just make sure to provide as much info as possible and when it’s time to pack it use extra care. Might even personally deliver depending on buyer

Obviously determining how much to list at is important and you could list at a high price and allow offers or not

 

Oof, that’s for sure. Something of this calibre might be worth contacting an auction house about.

 

He's in contact with a few. I think he got turned down by a big one, which confused me, as this isn't small potatoes.


Dan

 

A big one isn't going to turn down money....there must be a reason.

 

His profit will get destroyed by the 1099-k he will get and the copy that goes to the IRS. He shouldn't be selling anything online if he has never reported his online sales in the past.

 

I'd go to Heritage Auctions with that. They will advertise it correctly, he will get the right price for it, and he will be paid.

 

Heritage is the place.

 

Assuming it's in collectable condition, that's an easy 5 figure record.

No way, NO WAY IN HELL, should your friend be selling it on Discogs. The chances of getting ripped off are far too high.

Consign to one of the biggies--Heritage, or maybe RecordMecca. You'll probably pay 25%+/-, but you'll get the remainder, and the price paid by the buyer will be top dollar. But these places aren't gonna dick around on fees. The fees will be substantial and your friend's just gonna suck that up.

eBay's rake is around 14%, but you'll have the same issue with getting taken, and you also won't get as much as if it goes through the hands of a professional outfit known for being able to honestly grade and describe.

 

True on no way on Discogs. Go with a big one like Heritage. True, fees are big, however; the taken factor is not there. RecordMecca will probably try to buy it from you first, wave a big amount, don't do it, go auction with them or Heritage.

 

Gee sorry

Had no dea discogs was bad

I sold a $2000 LP on eBay many years and quite a few $800 on discogs but nothing that big

anyways disregard and carry on

between taxes and auction house you may lose 50%

There has to be a better way

 

I wouldn’t want the nightmare if something goes wrong, regardless of whatever site is used (eBay, Discogs etc.). I’d either go auction route or sell direct to a store like Rockaway.

 

Find a highend rich collector who will pay the figure it last was sold at in auction.....save the tax, % held, etc.. Hard to do as you have find that rich Dylan collector. Avoid selling to a reselling outfit like a RecordMecca , Rockaway etc.....they just auction what they buy which is what you could do in the first place.

 

Ebay's piece of the pie is below, which is drastically lower after the first $7500.

But still, for peace of mind, giving up an extra 15% to an auction house to let them deal with anything that comes up would most likely be worth it.

• 12.9% on total amount of the sale up to $7,500 calculated per item
• 2.35% on the portion of the sale over $7,500

 

Any chance the seller can get that to somebody with a laser turntable for a no-touch digital rip first? An assortment of 30-second demonstration clips could make for a compelling enticement for drumming-up buyers.

 

I cannot think of a less appropriate venue to sell an item like this than eBay.

A reliable place like Heritage already knows the players. The owner of the item would need to get it to one of their offices (NYC, CA or TX) and he would be done. They will sell it (likely at a live auction in this case) and his check will arrive on the day they say it will. There will be no six month later buyer's remorse returns. The seller will not have to deal with the buyer's sales tax or safely shipping it to him in Dubai or wherever. There will be no contact between potential buyers and the seller. There will be no BS. And the commission rate may be negotiable - the stuff I sold through Heritage I just took the offered percentage, but I also sold a high four figure item (not a record) through Swann and I got them under 10%.

 

Dude - the OP proposed Ebay as one of his potential options, and he was asking how much they'd take.

And can you not read that I'm telling them it's not worth the difference in savings?

Good grief.