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Acoustic Sounds Hits The Mother Lode!

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  • Acoustic Sounds Hits The Mother Lode!

    Holy crap! 50k records in the first truck alone? Wonder what Chad paid for this collection?
    Myles B. Astor, PhD, Administrator
    Senior Editor, Positive-Feedback.com
    ________________________________________

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  • #2
    There was a story about records and a bunch of trucks-- it involved MCA cut outs, some guys in Philly, Morris Levy, witnesses wearing wires and a few beat downs.
    Be careful out there.

    Comment


    • #3
      Except for the 50K records (I only have 15K) and the breadth (almost all of mine are classical) it sounds too eerily familiar. Now I know what instructions I should put in my will!

      Larry
      Analog- VPIClassic3-3DArm,SoundsmithZephyrII+MiyajimaZeroMono, 2xAmpex ATR-102,Doshi3.0,Merrill Trident Master Tape Pre,Herron VTPH-2A
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      Comment


      • #4
        Originally posted by astrotoy View Post
        Except for the 50K records (I only have 15K) and the breadth (almost all of mine are classical) it sounds too eerily familiar. Now I know what instructions I should put in my will!

        Larry
        Couple issues: one, what if you outlive any known at the time consultants or buyers? Obviously, if you have an institutional executor, they can research who can buy, but if for any reason, you have a need to maximize return for heirs, it's not going to be a job lot deal.
        I have thought about getting an estates lawyer friend or colleague to do an article on the subject-- I don't think a lot of people give much thought to it, or if they do, it's kind of like, 'yeah, I'll worry about that later.'
        I'm sure there are tax issues too, if your estate is large enough. The Astrotoy Foundation for the Betterment of Listening.

        Comment


        • Garth
          Garth commented
          Editing a comment
          Lawyer humour who knew

        • Bill Hart
          Bill Hart commented
          Editing a comment
          Garth- i have a sense of humor in spite of having been a lawyer. (You almost have to, given how humorless and tedious some of the work is). The best jokes used to come from Wall St. back before they got too serious.

      • #5
        Originally posted by Bill Hart View Post

        Couple issues: one, what if you outlive any known at the time consultants or buyers? Obviously, if you have an institutional executor, they can research who can buy, but if for any reason, you have a need to maximize return for heirs, it's not going to be a job lot deal.
        I have thought about getting an estates lawyer friend or colleague to do an article on the subject-- I don't think a lot of people give much thought to it, or if they do, it's kind of like, 'yeah, I'll worry about that later.'
        I'm sure there are tax issues too, if your estate is large enough. The Astrotoy Foundation for the Betterment of Listening.
        Thanks, Bill. We do have an estate attorney, but we haven't discussed personal property. Don't think the IRS will take 40% of the record collection. :-) Our daughter and son-in-law like classical music, but not the 15K records and 1K tapes. It is a serious issue. It would be interesting to learn whether Chad's client contacted him before he passed about the collection.

        Larry
        Analog- VPIClassic3-3DArm,SoundsmithZephyrII+MiyajimaZeroMono, 2xAmpex ATR-102,Doshi3.0,Merrill Trident Master Tape Pre,Herron VTPH-2A
        Dig Rip-Pyramix,IzotopeRX3Adv,Mykerinos,PacMicroModel2
        Dig Play-mchNADAC, LampiPac, Roon, HQP, Oppo105
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        Speakers-AvantgardeDuosLR,3SolosC,LR,RR
        Other-2x512Engineer/Marutani Symmetrical Power, AudioDiskVinylCleaner,AirTightRecordFlat, Scott Rust Interconnects,
        Music-15KRecs(90%classical),1.3KR2Rtapes,50TBrips

        Comment


        • #6
          It would be beyond interesting to know what was paid for the collection? A fair price? Doubtful...Imagine the amount of time it would take to do an honest and fair current market valuation of 50,000 LPs....

          I have given my oldest Daughter who is interested in the music a general heads up on the value of my modest collection just in case something happens...Most people have no idea what a collection of LPs is worth....Even a very modest collection can be worth 10s of thousands of dollars.

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          Comment


          • #7
            Originally posted by Letsmakeadeal View Post
            It would be beyond interesting to know what was paid for the collection? A fair price? Doubtful...Imagine the amount of time it would take to do an honest and fair current market valuation of 50,000 LPs....

            I have given my oldest Daughter who is interested in the music a general heads up on the value of my modest collection just in case something happens...Most people have no idea what a collection of LPs is worth....Even a very modest collection can be worth 10s of thousands of dollars.
            A buyer would isolate the high value records and calculate a number based on those- the rest is considered dross, and while it may be of some value, the cost of transporting would exceed value. They are probably doing you a favor by taking them. Sure, you could retail them yourself, or find an industrious soul willing to do so on your behalf, record by record, but most people don't want to go through the trouble of that. Fair market valuation has not a lot to do with buying in quantity. Otherwise, the buyer can't make a profit. Even if I sold individual albums to a big dealer, they ain't gonna pay anywhere near fair market value.

            Comment


            • astrotoy
              astrotoy commented
              Editing a comment
              Agreed. In most cases, giving your records to goodwill, etc. where you can claim the fair market value (not to exceed your cost IIRC) would get you more, depending on your tax bracket and level of itemization vs. standard deduction, than selling to a dealer. I remember that when Dave Canfield bought collections, he said that not to expect more than 25% of the value in his catalogue, and sometimes only 10%.

              Larrt

            • MylesBAstor
              MylesBAstor commented
              Editing a comment
              Some dealers would pay by the foot. Seriously.

          • #8
            So I wonder what my customer # is-- Chad said this seller was like #190 or something circa 1990, right? I was buying stuff from him in the late '80s, but that was long before he had a big, organized business. I think he was in his mom's apartment. I used to get lists in the mail and call him- it seemed like I was waking him up.
            I mentioned this to Chad some time ago-- I haven't talked to him in a few years- he was like yeah, I had a bunch of customers I wrote condition notes for on yellow post-its.
            I applaud him his success. Have any of you visited?

            Comment


            • #9
              Can you imagine being given first " dibs " going through such a collection; wow, 50,000 plus albums, astonishing!
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              Comment


              • Letsmakeadeal
                Letsmakeadeal commented
                Editing a comment
                Now that would be fun!
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