# Selling Classical LPs



## Moritat

Hi. Recently I‘ve came to the conclusion that I‘ve collected far too many lps over the years and I need to lighten up. With the exception of keeping a handful of favorites, I’ve decided to sell my collection. In this collection is about 400 classical lps. The great majority of these are in a very clean NM or NM+ condition. Also, there are some that are sealed lps. The various labels include Vox, Westminster, Columbia, Capitol, Decca, DGG, London plus some RCA and Mercury and others as well. Does anyone know of any stores in the Midwest (US) who purchase Classical lps? It seems like most of the record stores who advertise that they buy classical lps are in the UK. Also, if there is anyone reading this who lives in the vicinity of Chicago and would like to check out the lps, we could certainly arrange a time. Many of these I would sell for a dollar or two. Select items would be a little more. Thanks in advance for any responses.


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## Pugg

Ever heart of eBay?


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## Moritat

Sure, I've bought many lps on Ebay and sold some as well. But I don't believe it would be worth it to list 400 different lps for $2.00 a piece. Yes, I would certainly make a far better profit on Ebay, but listing all those lps would take a long time and I'd like to move these quickly. That's why selling to a record store or local individuals would be preferable.


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## Krummhorn

If all else fails, you might consider donating these to a local charity shop/thrift store. In many instances (in the US) these are 501-c3 organizations (tax exempt) and can offer you a form for deducting the donation off your income tax. You are allowed to take fair market value for those deductions in most cases. 

Some charity/thrift shops might take these on consignment too ... where you get a percentage of the sold price (usually 60% or 70%) when they are sold. 

Kh ♫


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## DavidA

You will be best looking in specialist magazines like Gramophone for dealers. Some early LPs are very valuable but you need to know what you're selling.


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## Vasks

Chicago!!!

There's guy from there that does Classical LP auctions. Maybe he can buy some of your stuff

http://polyphonyrecordings.com


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## Moritat

Hey, thanks for the excellent suggestions.... Vasks... thanks, this is what I'm looking for! I'll email this guy later today. David, I also plan to pick up a copy of Gramophone this week. And Krummhorn, I never thought of donating and deducting on my taxes. This will be a great method of unloading leftover lps. I had a feeling I'd get some helpful assistance from folks on this forum. Thanks much.


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## PetrB

I recommend talking with the folks at Reckless Records.

Reckless Records Chicago: New & Used LPs, CDs, DVDs ...

Reckless.com - Reckless Records Chicago‎
(773) 404-5080
"We buy record, CD and DVD collections. Cash or trade."
1532 N Milwaukee Ave, Chicago, IL 60622

Lakeview: 3126 N. Broadway Chicago, IL ...

and one location in the loop.

(Your best value is taking a credit to purchase other recordings in their stores -- but you may wantthose LP's off your hands and cash in your hands.

Best regards.


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## bigshot

There are only a handful of classical records that are worth more than a dollar or two apiece retail. Dealers would pay significantly less than that. Most of the valuable records are audiophile stuff like Living Stereo or Mercury Living Presence from the early 60s. Very specific pressings. If you know a kid with a turntable who is just getting into classical music you could gift them to, that might be the best home for them.


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## PetrB

Since it is within the good ole U.S. of A. -- a contribution to a non-profit, if you are in 'the right bracket' to get a tax deduction, might be the most beneficial for you and the recipient of the contribution. Your one-to-two dollar LPs are then evaluated closer to retail, which becomes a significant amount 

Merit School of Music, Chicago:
38 S Peoria St, Chicago, IL 60607
(312) 786-9428

http://en.wikipedia.org/wiki/Merit_School_of_Music

This is a 'grant school,' i.e. almost all the students, regardless of economic background, get free lessons -- a great program.


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## KenOC

Any positive tax bracket means that a deduction has value. If memory serves, you can deduct 1/8 of the original cost of the item. Since most first-line stereo LPs cost about six bucks, that's $0.75 deduction for each disc. So if you donate, say, 100 LPs, you get a $75 deduction. If you do that and your marginal (not average) tax bracket is 20%, you've just saved $15 in taxes.


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## bigshot

Tax deduction is fair market value if offered for sale to all available buyers. In other words, going rate for used classical LPs, regardless of what they originally cost.


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## KenOC

bigshot said:


> Tax deduction is fair market value if offered for sale to all available buyers. In other words, going rate for used classical LPs, regardless of what they originally cost.


Bigshot, I was quoting "safe" valuation guidelines for used clothing donated to charity, which might well apply to LPs. I suspect that the $0.75 figure is not too far off from "fair market value" for used classical LPs in general (although I never sold any).

Possible strategy:
1. Screen for potentially valuable records.
2. Take the rest to a decent used record store and get a quote.
3. Do the math. If it looks good, take it. Tour the world with the cash.
4. Otherwise, head for the nearest St. Vincent de Paul's and get your deduction.


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## Moritat

Ken, Bigshot & PetrB, thanks for this information!


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## Moritat

Vasks.... thanks for the info. I did end up selling a large number of lps to that gentleman on that website. For anyone else in the Chicago area who might be interested, I still have a large number of lps to sell. Most are in NM condition and I would be selling these very cheap! If you're interested, please let me know. I'm in the Evanston area. Vasks, thanks again!


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## Triplets

I live around Oak Park and there are 3 shops that sell used Classical lps. Best known is Val's Halla on Harrison St. Also Oak Park record on Oak Park Ave. Neighboring Forest Park on Madison also has 2 second hand shops that sell Classical. Check out the West Side!


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