How to Make Money Selling Vinyl Records

make money selling vinyl

Vinyl has made a big comeback in recent years. Listening to music online is all well and good, but people still enjoy something tangible they can hold in their hand.

Demand shows no sign of letting up, so it’s the perfect time to jump on the musical bandwagon. With some hard work, you can make money from this much-loved medium.

Here's the thing:

The market is full of sellers and collectors, and the potential pitfalls are many. From dodgy items, to obsessive types who pore over every detail of what you have to offer.

Our guide will tell you everything you need to know about getting started. There are various things to disc-uss (sorry)…

Getting clued up

Before getting into the groove, you should get clued up about which artists are selling and which aren’t. Thankfully there is plenty of info out there to give you the latest news.

Knowledge is power -

Especially, with something like the music scene. You need to know what’s worth shelling out for, and what the best price is, in order to make a profit.

That doesn’t necessarily mean being a music buff, as you can make money from records without being a huge fan of the artists concerned. It can help, but it isn’t essential.

From the owner of your local record store to the collector asking questions about your sale online, you meet some highly informed people, so you’ve got to be ready!

What’s the condition like?

Frankly, anyone can pick up an old record.

Charity shops for example usually have some on display. But, the difference between old and quality can be substantial.

Condition is king. There’s a grading system, which must be followed if you want to be taken seriously. “Very good” is generally seen as the bottom line. Read more here.

A drawback with vinyl is that unlike, say, streamed music it deteriorates over time. It has a trademark hiss and crackle, but if these are too noticeable it can affect price.

Buyers can be almost religious with their vinyl, and expect the highest standards if they’re going to part with their hard-earned cash.

Is it rare?

A surprising thing about the market is how big stars don’t equal big money. They certainly sell in the millions, but this can be a disadvantage.

Watch out for this: With so many records pressed, the ‘wow’ factor decreases. With their albums all over the place, you’d find it a challenge to fetch any major sums.

Your best bet is to look out for rare records, or limited editions. It’s a no brainer really, but these are naturally more desirable.

The more obscure the better, for example…

1969’s Bread and Beer Band LP featured a certain Reg Dwight on piano. If his name doesn’t ring a bell, then you probably know him as Elton John. That disc is now worth £2,000!

Buying to invest is something a lot of record sellers do, but take care not to snap up something that will be ten-a-penny in years to come…

Giving it a spin

Once you’ve done your research and know what to look for, then you’re ready to dive in to what will hopefully be a disc-filled wonderland. You can do this online or in person.

Here’s a pro tip:

Online sellers tend to do well if they have good reputations, which take time to build up. Visiting a record shop with your vinyl is a good first step.

Another thing to bear in mind is that record shops are businesses, and have to make money for themselves. This can lead to a slightly reduced amount being offered.

Should you find the idea of selling vinyl intimidating, there are events designed to get everyone involved in appreciating it. The big one is the annual Record Store Day.

The whole idea is to open up the record market and show people the variety of releases on offer. What better way of beginning your vinyl-selling journey…?