Were we in a phonograph/record "bubble"?

[larryh]

Hi all,

Just wondered what others thought. With the economy in the doldrums and homes prices way down it seems that other things like records or maybe machines are also suffering a similar fall in price. I know that when I got back into purchasing some Edison Records a couple years ago you couldn't buy anything on ebay for less that near $10.00 it seemed. And those electric recordings or things like violin or organ went sky high. Now many go though bid less even in sets of six. Oh to be sure the more hot titles still bring out a rash of last minute higher prices, but overall the market appears to favor the buyer rather than the seller for a change.
I don't know how one sets the price of something like an old record anyway. Lets face it, its not exactly a valuable item except to the listener, to most others its a .25 cent garage sale item. I just wonder if perhaps collectors had bid up many of these more common items to levels that were way too high? I don't know about others, but I am sure I am now sitting on many records that wouldn't go for a fraction of what I paid not long ago. Actually I know that is for sure since I have recently paid many times less for similar things.

Larry

[Steve]

I wish this was true with a lot of the machines I'm interested in! Whatever I want is always sky high regardless of the wider economic background. I'm just debating whether to buy a machine now that is probably 200% of the price it should be. Having said that, a lot of ordinary stuff in less than great condition sold 5 months ago at auction and a lot of the prices were on the floor. Against the current backdrop it is inevitable that RECORDS will fall in price as people who have no investment in them throw them out but I think the market for the best machines will bounce back (if indeed it's suffering that badly anyway?).

[NashTwin8]

Larry,

I don't think I'd describe it as a "bubble" but rather the normal kind of thing that happens to the price of non-essentials whenever the economy takes a nosedive. All kinds of things that people buy for fun with their "extra" money are dropping in price these days as demand for them falls off. Can you say "Starbucks?"

That's my two cents worth, anyway.

Take care,

Jerry K

[Shane]

The dynamic I'm observing is this:

The price of any collectible that is common to any degree, is falling. However, the "rarest of the rare" items seem to carry their normal high values, as the buyers tend to know they probably won't have a chance to get another one if they pass it up, or get outbid.

[Valecnik]

I tend to agree with Shane that the prices of the more common things have flattened or declined. A plain Edison 2 minute standard or an amberola 30 for example have not moved much at all in 15 years. The exception there would be a pristine machine, even a common one. Look at what "Firebottles" on eBAY gets for his very clean well photographed machines, always a premium.

Steve, my behaviors are similar to yours. If something rare comes up which is in my area of interest, I'll definitely pay top buck (or top pound)for it, even if it might mean going to the bank for a loan. That's one of the reasons why I'm typically buying and driving older used cars...