Another Example Of Crazy Bidders

[OrthoSean]

http://cgi.ebay.com/Scroll-Victor-24700 ... 911.c0.m14

A great record, absolutely, but not rare, certainly not worth this price! I think the two copies of this I have cost me around $5 each. Some buyers amaze me...

[estott]

Someone must love Bowlly & Noble.

[MordEth]

certainly not worth this price!

At least one bidder has proven you wrong.

I think that with a lot of things, they’re worth whatever someone is willing to pay for them...at least to them.

While I may not be willing to pay $$$ for ___, if there’s someone out there who will buy it at that price, obviously it’s worth that to them. I just think most of us are more willing to look for it (whatever it might be) at a better price...

Everyone has their opinion of the value of things...

— MordEth

[OrthoSean]

Guys, I agree completely that buyers indeed "set the price" themselves (and I know you're just kidding, Walt!). I know the seller, Warren Hodgeton and I'm sure he's rather shocked over this one as well. I don't typically point out absurd things like this too often, but this is twice in two weeks I've watched two relatively common discs bring ridiculous money. I'd be laughing all the way to the bank if I were the seller. I'm not interested in selling eith copy I own of this one, it's an all time favorite of mine (and it was used in "The Shining" for all you movie buffs).

I've sold many many rare 78s on ebay over the years, some $200 discs that only brought $20, others $20 discs that brought $300-400. You never know, which is one reason I'd never do it for a living!

Sean

[EdisonSquirrel]

I believe that one can objectively determine a general price range for a record based on rarity and level of demand, or at the least we can determine the rarity of a record. We would all agree that Paul Whiteman's "Whispering" is a very common disc, while Dan Quinn's 1895 Berliner of "The Band Played On" is not, and Bailey's Lucky Seven's "Why Couldn't It Be Poor Little Me" is somewhere in between.

Let me make a few comments on the issue:

Those who are new to the hobby may pay exorbitant prices for records based on the mistaken belief that common records are rare.

An informed individual may decide for whatever reason to pay a high price for a relatively common record--that's something entirely different. Maybe he is frustrated in his attempts to find a decent copy of the record, wants the record now, is in an income bracket that makes the cost irrelevant, or makes an informed decision for some other reason to pay a high price for the record.

We usually have no idea whether a buyer who pays an exorbitant price for his records is knowledgeable about the rarity of the records he is purchasing.

I see no harm in discussing the very high prices that some may pay for their records--that's a legitimate area of observation and discussion for record collectors. The only caveat here is that we should avoid belittling or mocking those who have chosen to pay a higher price than we consider reasonable.



Rocky

[OrthoSean]

We usually have no idea whether a buyer who pay an exorbitant price for his records is knowledgeable about the rarity of the records he is purchasing.

I see no harm in discussing the very high prices that some may pay for their records--that's a legitimate area of observation and discussion for record collectors. The only caveat here is that we should avoid belittling or mocking those who have chosen to pay a higher price than we consider reasonable.



Rocky

Excellent point, Rocky! I'm always finding myself having discussions like this all the time on the phone with others. A fellow record guy was at my house on Sunday and we were discussing just this. You don't know what somebody's reason is for spending what they spend. In the case I posted to begin with, we're talking about a disc that isn't uncommon, but not one you encounter every day either. Still, this is a lot to spend. I know some of us here remember the "gkmnewport" days who would spend any amount it took to land certain DDs she didn't have. Stuff that wasn't that rare was bringing hundreds or thousands in some cases and many sellers were taking full advantage of the fact this person would spend whatever it took to get the record(s) she was missing.

I'm a record guy as much as a machine guy. I've been dealing in them for 25 years now and things like this still amaze me.

Just this past Sunday, I was able to purchase a copy of IRCC 1 which I have been after for several years and lost in record auctions for well over $150 (hey, it's rare). This is a lovely E+ copy and the collector I got it from sold it to me for $50, knowing fully well what this has brought in the past. So there ya have it. Goes both ways. Of course, we were trading other things as well, so each of us was offering some deal sweeteners, this certainly was one of them for me!

Sometimes, it's all about timing and patience. I'm willing to wait for something I want to show up at a more reasonable price.

Sean

[B.B.B]

A great source for finding out what other people were willing to pay for a certain record at a certain time is http://www.popsike.com/. Lists both LPs & 78s.

I think the "is it really worth this much" question exists in allmost every field of collecting hobbies.

There isn't a real market value, since no item & product is exactly like to other one.
I've bid on records that went far higher then I was willing to pay for it & after some searched & using of the dreaded "completed listings" function on Ebay found the same records go 5 days earlier, in the same condition for half the price.. Only one thing wrong, I missed that one...

And sometimes it's the other way around.
Thats the hellish charm of collecting old things.

If you start collecting new CDs, you can always be sure of the "proper" value. But you most probably won't make a good deal either.

Selah.