The vinyl records collectors covet most
Behind every used record there is a story. But what makes a simple record a museum-worthy item?
An object is always much more than its material embodiment. A vinyl record, a coveted collector's item, is so much more than the music it contains. The hands that have held it, the history of its recording, the distinctive characteristics of that specific edition... The history, in short, that follows the object and links the person who holds it to that whole tradition.
Although the origin of recorded music dates back to the end of the 19th century, with wax cylinders and the gramophone, it was not until the second half of the 20th century that the production and consumption of these objects became mainstream. Vinyl, as a medium, enabled production and distribution on an unprecedented scale, making vinyl records an object that was present and common in most homes.
The progress of technology and digitisation have made them obsolete for their primary purpose, but as time has gone by, they are now regaining esteem. The pleasure of taking them out of their sleeves, placing them on the turntable and hearing the few seconds of white noise that precede a song. They carry a halo of authenticity, and the music is presented with a sound that reminds us of the past. An era that refuses to be completely forgotten.
Content and container
The way vinyl records are regaining value among collectors goes way beyond mere megalomania. In fact, the music is often the least relevant part. The content is overshadowed by the container. Thus, the most coveted vinyl records derive their value from their exclusivity, their imperfections or their history.
That is the case, for example, for copy 0000001 of The Beatles' White Album. Although the record itself is an undisputed milestone in 20th century popular music, marking the band's move towards more experimental music in 1968, this specific copy was sold for $790,000 in 2015 because it belonged to the band's drummer, Ringo Starr.
Another specific case is a vinyl record of Elvis Presley's My Happiness. Recorded in 1953, at the Memphis Recording Service, this record is the first attempt by the future king of rock to break into the music business. Due to its rarity (there are very few copies), as well as its undisputed influence on the history of music, a copy was sold for $300,000 in 2015.
An unusual case is a The Velvet Underground & Nico acetate record, made and used in 1966 at Scepter Studios. Unlike vinyl records, which are the ones we are generally familiar with, acetate records were not intended for commercial distribution, but were usually a raw recording used in the studio for subsequent mastering. This example was a preliminary recording of the band's debut album, whose influence on experimental rock is still felt today. In 2002, at a garage sale, a copy was found. The original price was 75 cents, and it was later resold for $25,200.
The value of vinyl record for collectors
But the vinyl records that collectors are really keen to find are those editions that, for one reason or another, had to be taken off the market.
Some examples are Prince's Black Album, recorded in 1987 and which, shortly before going on sale, the singer himself decided to withdraw because he considered it “too dark”. The very few copies that were manufactured are coveted objects for collectors, fetching as much as $27,500 in 2018.
In the same vein, David Bowie's Diamond Dogs with its original cover, which portrayed Bowie himself as a hybrid between a man and a dog, had to be withdrawn from the market. Today, an original copy can fetch around $20,000.
Similarly, the first edition of Bob Dylan's The Freewheelin', recorded in 1963 and containing four songs that were deleted in later editions, can fetch up to $35,000 today.
The most expensive vinyl record ever sold
However, the most expensive vinyl ever sold was Once Upon a Time in Shaolin, by the founding fathers of hip-hop, the Wu Tang Clan. This record, of which only one copy exists worldwide, was sold for $2 million in 2015 to entrepreneur Martin Shkreli. Shortly after this purchase, the businessman was arrested for securities fraud, financial manipulation and mismanagement of funds. Following his arrest, his properties were seized, and three years later he was sentenced to seven years in jail, had to forfeit $7.36 million in assets, and pay a fine of $75,000.
After that, the record was auctioned again and purchased by the digital art collective PleasrDAO. They paid 4 million dollars for it, making it once again the most expensive record ever sold.
