Going for the (Vinyl) Record (and reselling them)

If you’re one of the 100 million record collectors in the EU, then it will come as no surprise that those circular discs are in the middle of a vinyl renaissance. If you’re new to record collecting, however, get ready for a blue pill/red pill style global rabbit hole of products. There are brand-new releases from no-name label-less bands, obscure foreign misprints, holy-grail-must-have grandmasters, bootlegs, bootleg-bootlegs, flexis, LPs, EPs, white labels, promos, 5-inch, 7-inch, 10-inch, 12-inch, 33s, 45s, 78s, and hundreds more I’ve missed. Simply put, the worlds of the record collector are vast and varied. Now, the fact that some records can be worth a lot of money is news to exactly no one. Many collectors straddle the line between trader and tinkerer, while to others the hobby is their career.

Rather than try to infiltrate the shadowy world of record collecting and trading, we here at Riloop thought it’d be simpler to catch one in the wild and try to wring some secrets out of them. So, we did. Please enjoy a quick chat with one of the savviest disc spinners out there.

Trading as Malc Hedge, Melvyn has been an avid vinyl buyer and seller for decades. Now retired, he spends his free time rummaging through car boot sales, thrift shops, and online marketplaces looking for circular gold. In his spare time, he graciously volunteers at the local Oxfam charity shop as their in-house record expert. We caught up with Malc Hedge this week for a chat and some secret sauce.

Riloop: How did you get into record collecting?

MH: I’ve been buying records since the mid ‘70s. Many folks sold or gave away vinyl collections when CDs came in during the 90s, and for a time, quite rare albums could be bought for little outlay. Over time, as the value of vinyl records steadily increased, it morphed from casual music listening to something more nuanced, where records are sometimes bought as an investment or to exchange for something elusive that’s missing from the collection.

Riloop: Where do you source the records in your collection?

MH: Discogs, it’s probably THE best online resource for buying and selling vinyl. Of course, I also check eBay, charity shops, car boot sales, and old school record shops too. Honestly, I’m really glad they still exist.

Riloop: How important are things like condition?

MH: Condition is very important for both the record and the cover. Before buying a used record, I tend to ask myself, “Could you sell this in the future for what you’re paying for it”? Also, if a record is quite scratched, I’d rather stream the album or listen to a CD.

Riloop: Tell us about the rarest / most valuable record you found.

MH: Probably ‘Give Me Take You’, by Duncan Browne. It’s from 1968 and is a fragile psych folk gem with Spanish guitar and elaborate arrangements by Andrew Loog Oldman. I’d been looking for it for a while, and a copy turned up at the local auction, but I was outbid. In frustration, I went online and tried to find a copy, and unbelievably, found someone selling it for less than £20 on one of the online marketplace sites. To put the price in perspective, a copy sold for £695 not too long ago.

Riloop: Has the internet made finding records easier or harder, and in what ways?

MH: Much easier in terms of finding elusive items, but harder in the sense that anyone can become an expert quite quickly, and bargains aren’t often found online.

Riloop: Are there any records you generally avoid?

MH: I’m not a fan of greatest hits albums. I prefer to listen to an album as a whole piece of work. I’m also not keen on coloured vinyl and I’ll only buy it if that is the only option for a release that I want.

Riloop: What’s the most you’ve spent on a record?

MH: Tricky one… hmmm maybe about £100. Justified as an investment, of course! Actually, no, scratch that, the most I've paid is £200 for a double LP by Shack called On the Corner of Miles and Gil. Paid for it by selling other records, and it was a good move since it's still not yet been reissued.

Riloop: What’s the most you’ve sold a record for?

MH: £320 for a rare reggae single. Freddie McKay: Your Cup Is Full, produced by Jimmy Cliff.

Riloop: Do you still have a holy grail record waiting for you out there? If so, what is it?

MH: Yes. Visionaires: To Have a Home. A very rare reggae album from 1982. It never turns up. I’d be more than happy if it were reissued, though.

Riloop: What advice would you give to any future vinyl adventurers out there?

MH: The key to making sure you get the most value from collecting is learning how to appraise conditions and to recognise different pressings. The earlier the pressing, the more collectible they are, at least in general. Also, start buying second-hand records, rather than paying £35 or so for a new album. For the same amount, you could buy a collectible record that will only increase in value.

As Melvyn’s answers suggest, one of the reasons some records hold their value is the fact that they’ve never been reissued or re-released. The music industry is legendary for its legal minefields and often tracks and records slip through the cracks in vinyl No Man’s Land, making them rarer and more sought after.

Oh, and we have great news for any budding record dealers out there. We recently added Discogs to our growing list of marketplaces integrated to Riloop. This brings the total number to 22! Better yet, just like the Discogs website itself, you can use your Riloop account to set up alerts for any record or title you like, and unlike the Discogs platform, changes and alerts on Riloop are instant and also wholly customisable. This means you can not only set up alerts for specific titles and not just your entire wantlist, but you’ll get real-time email notifications whenever a new reference for the record you’re looking for becomes available. So, instead of receiving delayed alerts from Discogs (and missing the boat, again), you can now leverage Riloop to skip the queue and get a jump on your competitors.

Anyway, we hope you enjoyed our interview and, if you’re a budding or established vinyl hawk, we’d love to know how you would have answered? Do you have secret sources or a holy grail still on your list? How much have you paid for a record, and what’s the most you ever made from a sale? At Riloop, we’d love to hear your answers, so drop us a line. You can sign up for your free Riloop account here, and don’t forget, if you enjoyed this article, please remember to share it too.