Record Prices - The Truth

[Guest Bogue]

Because he is my butler of course!

Will it be the master bedroom with the wife tonight sir or are you entertaining Max & the facist dwarfs again ?

Edited July 24, 2008 by Bogue

[Prophonics 2029]

Wow, how does he know what you had for breakfast? I can't figure you Brits out, not one bit, you're a mysterious lot!

I'll give you a monkey for the lot if you need the space.

[Prophonics 2029]

When I hear a new tune I thing wow that's great must be humm 100 or 250 and dose it stand the test of time or played non stop for a week or so.

So a sound value and not a sales value or demand value, but if I get it for 10 then dead happy.

If a few turn up on Ebay then more may come to light as other sellers find unused store stock in the basements who knows.

[Ian Dewhirst]

Interesting this Dave, we base our prices on the file of any particular record.

Our file tells us in the last ten years exactly.

1. how many copies we have had,

2. what price they sold

3. conditions of the 45s

4. exactly who bought them

5. Date of last copy listed

6. date of last copy sold

At the click of a mouse,we can see that info for 160,000 invididual items.

So that helps me to decide a price.

On the record mentioned KCPs Wheelsville 115.

We have had in 10 years we have had ONE vg+ copy we listed @ £75 on 26/09/05

sold 29/11/05

We would certainly list it @ £100 next time, especially if the copy is better than vg+

Considering during the same period we have had 8 Bernie Williams, over 10 Al Williams, 2 Cheating Kind's, 2 Inticers on Baby Luv etc etc.

Sorta makes you think, doesn't it?

Absolutely LOL. Especially in this day and age.

That's a fantastic resource you have at your disposal John. Well done for forward thinking. I reckon that system will get you about 80% of the way there but how can anyone calculate against the growth curve of, say, a Lee Fields LOL......?

I reckon science can get us maybe 80% of the way, but that infernal random factor nails us in the balls everytime doesn't it?

But boy, 80% of the way there is a significant advantage in today's market.

I'm fascinated by record prices right now. They're better than a pacemaker LOL....

Ian D

[Garethx]

We should not forget that the "book price" has to factor in VAT and dealer overheads: staff, premises, web-hosting, business rates, tax and National Insurance contributions and so on.

Few of us selling items 'privately' on here or other forums and auction sites have to take these matters into account. Asking for the full book price is a bit cheeky in this light, but at the end of the day finite commodities will always sell for what any particular purchaser deems acceptable at any given time: rather than one true market there are myriad micro-markets.

[Prophonics 2029]

Gareth are you saying that we are the Black Market dealers of soul, I can't help but think of Walker out of Dad,s Army eeeck gads.

[Guest]

I'll give you a monkey for the lot if you need the space.

Tain't a monkey its TV Tubby.

Edited July 24, 2008 by ken

[Garethx]

Gareth are you saying that we are the Black Market dealers of soul, I can't help but think of Walker out of Dad,s Army eeeck gads.

Further to being black marketeers, we're akin to drug dealers: knowing full well that the people we're pushing to can't go without their fix, no matter how in debt / in the doghouse with their partners etc. the buying of another overpriced record will make them.

I suppose we could look at it like a public service, it keeps 'em off the streets.

"Get that monkey off my back."

[Wilxy]

Absolutely superb thread which throws up both valid and diverse opinion! especially from a sellers perspective......but alas is only determined by the buyers willingness or ability to pay the asking price! Unfortunately ability often comes a poor second to willingness, and budget is a key factor.....however sometimes the "find after the chase" is more rewarding.....particularly when achieved at a "snip".......The "truth" is out there.......

[Iancsloft]

When all,s said and done a record is only worth what someone is willing to pay, thats why John Manship ect

get outstanding prices on some 45,s because one or two are willing to pay over the odds because they can

afford to..To be honest i dont think some people realise how rare some of these 45,s actually are in relation

to the number of collecters worldwide..

X Regards Ian C

[Guest]

Just a little experiment here folks.

On a few occasions recently someone has aked the 'realistic' price of certain 45s. Been buying/trading/selling the odd 45 for the last 30 years and I've posted what I felt were prices that the 45s could be found for with a little work. On most occasions the person asking comes back and says "I'll have ten at that price" or "lot more than that nowadays, Dave". Well I'm prepared to be corrected, but I just don't believe it most of the time. To check the guides, look on Ebay and use those particular sources of references result in people 'accepting' that the 45 that they want is actually that price, when for people who buy records every day, is simply not true in my opinion.

EXAMPLE: Kansas City Playboys - Quittin' Time - Wheelsville

For me that's a 30 quidder. Had a few over the years and still have on in my collection - it's a great version.

"Ive seen em at 100".

Listed or SOLD at 100? That's the difference. "Seen" where? "Seen listed at......" is a waste of words. So, completely unscientific but .....interested to find out what it actually SELLS for so.....has ANYONE paid 100 for the KCPs....EVER? I found two on Popsike at 40 quidish but that was a couple of years ago. Hs it been reactivated since? Has Butch been hammering it? Has a Wheeelsville label collectors club started?

If I was to now list that 45 for sale, I would list it 100 and see what happened. See the logic now? Or is it illogical? Someone would have seen my list and then quote on here....I've seen it at 100! If a dealer makes a mark up of even 100% there's no way is a dealer gonna pay 50 quid for the KCPs. If that was the case people would be beating a path to their door with all their 'cheaper' 45s, believe me.

Taking into account there seems to be a downturn in the less rarer record prices being achieved (ask anyone who's selling 45s on here), and the whole thing seems to be a house of cards built on sand.

So.......who paid 100 for the KCPs? Or is it just a figure in a guide?

I dont care who payed 100 quid for KCP - I got mine for chips - But I would not sell it for 100 quid !

Its staying in my box ! Thats it !

[Guest DeeJay]

Dave brings up some good points But lets get a perspective here record "dealing" is a business dealers are out to make as much as they can that's how it works there's nothing wrong with that it business It's a free market if a record doesn't sell then it gets traded or reduced or even held Records are just a commodity If seen listed at sells or doesn't sell what difference does it make Ultimatley people pay for a record what they are willing to pay there's always going to be folk who say oh way too much obviously they didnt value it as much as the buyer The Mighty Marvellows is a good example i nearly fell off my seat when a copy went on ebay for $120? (was it?) but if someones going to pay for it.....that's it.Pat Brady and JM do get high prices but people pay it.....

DJ

[Dave Moore]

Good thread chaps. Lot's of good opinions and inputs. Not sure we got the answer, to the original question, but never mind, at least from my perspective I've a better idea about where my 'prices' fit in the equation and why I price most records somewhat cheaper than many UK collectors AND we avoided the OVO v CDs and Oldies v Newies debate!

I've now revised my price on the KCPs. I've got it down as 40 quid now.

Bogue.....tekachillpillMate. It ain't the cure for cancer, it's some old farts chattin' about rekkids.

[Julianb]

When all,s said and done a record is only worth what someone is willing to pay, thats why John Manship ect

get outstanding prices on some 45,s because one or two are willing to pay over the odds because they can

afford to..To be honest i dont think some people realise how rare some of these 45,s actually are in relation

to the number of collecters worldwide..

X Regards Ian C

Bloody hell - Mr Cunliffe talking sense!! his has to be a first

How's the lovelife?

Julian

[Guest]

Explain please !!,why should who buy's something have a baring on the price.....like some sort of right royal provinance or something ?

Ken

Sorry I think you missed my point, it to us matters who buys them because we have a small set of collector/dealers who only buy our mistakes!

ie ones I've priced too low. Believe it or not we mark their files, and investigate why they are buying it. It's a compliment to them, really as they know something I don't.

We started doing this some years back when 19 mint copies of Martha Reeves - No One There - left the building for 8 quid.

Or when Steve Plumb recently bought a 3quid 45 from our Rock & Pop section we check it out and sure enough the flipside was really great 70s dancer..I'd missed it. We sold it to Steve for 3quid, move the price to 15 quid & listed in the UK Soul section and again sold them. That's why it matters who's buying what titles.

Getting back to the original point, I think unless you've spent your life trawling through 45s every day it's hard to grasp just how rare some records we take to granted are and visa version.

The Wheelsville label sticks out like a sore thumb whilst looking at 45s, I can tell you without hesitation I don't think i don't think i've found more than a couple of KCPs in my life whilst hunting for 45s. Although it has rarely popped up in collections we've bought.

As for the Epitome Of Sound we had 1000 stock copies and 50+ white demos in one hit in the seventies at Dennis West's warehouse and have found a steady stream of them since. We have always got at least 3 or 4 on the shelves ready to replace the one on the website, when it's sold?

Records like the KCPs are well worth every inch 100 quid or more, they seldom turn up and they're darn good records and genuinely rare. Whilst the Epirtome Of Soumnd carries it's value on everyone wanting to own a copy, with most copies in collections in creates a false impression of rarity..

Like I originally stated, we evaluate every aspect of the individual file data before reaching a value on any item we sell. Even down to who's bought it.

[Wiganer1]

Ken

Sorry I think you missed my point, it to us matters who buys them because we have a small set of collector/dealers who only buy our mistakes!

ie ones I've priced too low. Believe it or not we mark their files, and investigate why they are buying it. It's a compliment to them, really as they know something I don't.

We started doing this some years back when 19 mint copies of Martha Reeves - No One There - left the building for 8 quid.

==

john ,,remember getting my no one there from you for £3 with factory stamp on it !

[binsy]

this stuff is nothing new.

Lonnie Lester was in every sales box going and probably still is in a lot of them and at 100 quid. I think its an incredibly common record and should be 20 quid tops but there you go. Wether I like the record or not I just can't justify paying that money for something that is always available.

I recently baught the Bill Wright on Tragar oin here for 100 quid. It was graded low so I rang up for a listen. It paleyd great and I believe i've grabbed a realy good buy. It shows occasionally and usually pretty rough but in this day and age its a hard to find record.

It amazes me how a record as fantastic as Bill Brandon "Rainbow Road" can go throuhg ebay for $150 now a days yet Sam Fletcher is always listed over 200 quid and is another example of a very common record.

You just need to know what you want how much you want to pay for it a bollox to all the idle talk thats what I say.

Roy Robets "You move me" is still considered a $10 record yet to me its fantastic and a touch undervalued if I didn't pay that price i'd have gone to 20 quid easily.

this can go on and on.....

Spot on Dylan, 'Rainbow rd' one of the great soul records and one I would never part with

[Ian Dewhirst]

Ken

Sorry I think you missed my point, it to us matters who buys them because we have a small set of collector/dealers who only buy our mistakes!

ie ones I've priced too low. Believe it or not we mark their files, and investigate why they are buying it. It's a compliment to them, really as they know something I don't.

We started doing this some years back when 19 mint copies of Martha Reeves - No One There - left the building for 8 quid.

Or when Steve Plumb recently bought a 3quid 45 from our Rock & Pop section we check it out and sure enough the flipside was really great 70s dancer..I'd missed it. We sold it to Steve for 3quid, move the price to 15 quid & listed in the UK Soul section and again sold them. That's why it matters who's buying what titles.

Getting back to the original point, I think unless you've spent your life trawling through 45s every day it's hard to grasp just how rare some records we take to granted are and visa version.

The Wheelsville label sticks out like a sore thumb whilst looking at 45s, I can tell you without hesitation I don't think i don't think i've found more than a couple of KCPs in my life whilst hunting for 45s. Although it has rarely popped up in collections we've bought.

As for the Epitome Of Sound we had 1000 stock copies and 50+ white demos in one hit in the seventies at Dennis West's warehouse and have found a steady stream of them since. We have always got at least 3 or 4 on the shelves ready to replace the one on the website, when it's sold?

Records like the KCPs are well worth every inch 100 quid or more, they seldom turn up and they're darn good records and genuinely rare. Whilst the Epirtome Of Soumnd carries it's value on everyone wanting to own a copy, with most copies in collections in creates a false impression of rarity..

Like I originally stated, we evaluate every aspect of the individual file data before reaching a value on any item we sell. Even down to who's bought it.

Haha LOL! Johnny 'Big Brother' Manship is watching your every move via electronic 'canny buyers' software!

I'd do exactly the same thing. Must be fascinating to analyse the science of Northern Soul collecting........

Ian D

[Guest]

Haha LOL! Johnny 'Big Brother' Manship is watching your every move via electronic 'canny buyers' software!

I'd do exactly the same thing. Must be fascinating to analyse the science of Northern Soul collecting........

Ian D

But very boring.........rather listen and watch me records going round and round

Edited July 25, 2008 by ken

[Ian Dewhirst]

But very boring.........rather listen and watch me records going round and round

Yeah, but that induces a sort of hypnotic trance like effect which makes you much more pliable in terms of 'vinyl desire'.

We WANT you to watch the records going round and round! Especially if it's a £3K record LOL.....

Ian D

[Guest Bogue]

Good thread chaps. Lot's of good opinions and inputs. Not sure we got the answer, to the original question, but never mind, at least from my perspective I've a better idea about where my 'prices' fit in the equation and why I price most records somewhat cheaper than many UK collectors AND we avoided the OVO v CDs and Oldies v Newies debate!

I've now revised my price on the KCPs. I've got it down as 40 quid now.

Bogue.....tekachillpillMate. It ain't the cure for cancer, it's some old farts chattin' about rekkids.

Dave, sorry if it appeared otherwise, but i was chilled all along................ well, as chilled as a stalwart mag producer who got a bit upset 'cause a couple of whippersnappers dared to question his pricing prowess

I'm just joking again, honest ! i guess i have a bit of a sarcy sense of humour which may be hard to see or take (probably why people hate me )

But just in case there was a small element of that in your reason for the thread, you have nothing to prove Dave ! Your knowledge is there for posterity in the fantastic mag you put out & I & everyone else knows that the likes of me & the other whippersnappers could put on a postage stamp what we know in comparison

Haha LOL! Johnny 'Big Brother' Manship is watching your every move via electronic 'canny buyers' software!

I'd do exactly the same thing. Must be fascinating to analyse the science of Northern Soul collecting........

Ian D

I was thinking similar.

Do you have a 'scumbag cheapskate who listens to all my sound files & then buy's them off ebay' setting JM ?

I do wonder ? cause i find the player goes haywire if you listen to more than 3 or 4 in a row now !

[Guest Matt Male]

Ken

Sorry I think you missed my point, it to us matters who buys them because we have a small set of collector/dealers who only buy our mistakes!

ie ones I've priced too low. Believe it or not we mark their files, and investigate why they are buying it. It's a compliment to them, really as they know something I don't.

We started doing this some years back when 19 mint copies of Martha Reeves - No One There - left the building for 8 quid.

Or when Steve Plumb recently bought a 3quid 45 from our Rock & Pop section we check it out and sure enough the flipside was really great 70s dancer..I'd missed it. We sold it to Steve for 3quid, move the price to 15 quid & listed in the UK Soul section and again sold them. That's why it matters who's buying what titles.

Getting back to the original point, I think unless you've spent your life trawling through 45s every day it's hard to grasp just how rare some records we take to granted are and visa version.

The Wheelsville label sticks out like a sore thumb whilst looking at 45s, I can tell you without hesitation I don't think i don't think i've found more than a couple of KCPs in my life whilst hunting for 45s. Although it has rarely popped up in collections we've bought.

As for the Epitome Of Sound we had 1000 stock copies and 50+ white demos in one hit in the seventies at Dennis West's warehouse and have found a steady stream of them since. We have always got at least 3 or 4 on the shelves ready to replace the one on the website, when it's sold?

Records like the KCPs are well worth every inch 100 quid or more, they seldom turn up and they're darn good records and genuinely rare. Whilst the Epirtome Of Soumnd carries it's value on everyone wanting to own a copy, with most copies in collections in creates a false impression of rarity..

Like I originally stated, we evaluate every aspect of the individual file data before reaching a value on any item we sell. Even down to who's bought it.

This is facinating John. It's interesting, and scary, to know that you take into account the potential (as opposed to the actual) popularity of a record as well as it's rarity when considering a price. I wonder if an equally rare but less popular record would demand a lower price and which is the more important factor and how much importance does popularity have? Unfortunately, on the other hand in most people's book quality seems to play no part whatsoever in pricing. Rarity plus popularity plus quality, it's the holy grail. I wonder how many records have all three? That Ray Agee you sold is certainly one.

Edited July 25, 2008 by Matt Male

[Guest]

When all,s said and done a record is only worth what someone is willing to pay, thats why John Manship ect

get outstanding prices on some 45,s because one or two are willing to pay over the odds because they can

afford to..To be honest i dont think some people realise how rare some of these 45,s actually are in relation

to the number of collecters worldwide..

X Regards Ian C

Fabulous point that Ian, we've estimated there are over 40,000 collectors of Rare-Soul vinyl. A large percentage of them will never sell anything. It's not rocket science to work out the supply and demand ratio is what fuels rare-soul vinyl prices.

[KevH]

But very boring.........rather listen and watch me records going round and round

you can get patches for it Ken...........Vinylette,stops the craving...........

[Guest Bogue]

Fabulous point that Ian, we've estimated there are over 40,000 collectors of Rare-Soul vinyl. A large percentage of them will never sell anything. It's not rocket science to work out the supply and demand ratio is what fuels rare-soul vinyl prices.

Erm....... How about 'Fabulous point that Bogue' ?? I said more or less the same in my earlier reply to Dave !

But i guess i am on your 'Scumbag cheapskateometer'

Edited July 25, 2008 by Bogue

[Guest Bogue]

Anyone else having trouble logging on to www.raresoulman.co.uk ?

[hrtshpdbox]

Fabulous point that Ian, we've estimated there are over 40,000 collectors of Rare-Soul vinyl. A large percentage of them will never sell anything.

Until they shuffle off this mortal coil, at which point their relly's will dump it all unceremoniously onto the market for next to nothing. This is the rationale I've been given, by people ostensibly in the know, for selling everything now.

[Ian Dewhirst]

Until they shuffle off this mortal coil, at which point their relly's will dump it all unceremoniously onto the market for next to nothing. This is the rationale I've been given, by people ostensibly in the know, for selling everything now.

I think that's exactly what'll happen.

Record collectors invariably turn into paranoid recluses, lose all their friends and relations because of their vinyl obsession, have disgusting levels of personal hygiene and usually die when a shelf-load of records falls on 'em.

But I also think that there'll be plenty of fresh young collectors from the USA and Europe to snap 'em up too! The legacy will live on but maybe in another part of the world.

In the meantime there's a couple of old 60's mods around the corner from me with brilliant collections who look like they're on their last legs. Might be the time to take 'em out for a long weekend to 're-live their youth' LOL. That should do the trick...............

Ian D

Edited July 25, 2008 by Ian Dewhirst

[Ian Dewhirst]

Erm....... How about 'Fabulous point that Bogue' ?? I said more or less the same in my earlier reply to Dave !

But i guess i am on your 'Scumbag cheapskateometer'

That wouldn't be the Bogue that's apparently imitating me would it?

Ian D

[KevH]

Until they shuffle off this mortal coil, at which point their relly's will dump it all unceremoniously onto the market for next to nothing. This is the rationale I've been given, by people ostensibly in the know, for selling everything now.

let me get this right then,you're selling now ,before you pop yer clogs,hoping to sell for more than nothing in a more dignified way? .

ffs,where's that noose............... ,bolt the lid down on yer way out guys.........

[boba]

I think that's exactly what'll happen.

Record collectors invariably turn into paranoid recluses, lose all their friends and relations because of their vinyl obsession, have disgusting levels of personal hygiene and usually die when a shelf-load of records falls on 'em.

I know several doowop collectors that this has happened to and at least a couple cases of this in progress

[hrtshpdbox]

let me get this right then,you're selling now ,before you pop yer clogs,hoping to sell for more than nothing in a more dignified way?

Nope, I'm only selling to the extent I need to, to pay the odd bill; merely noting that people (from this very board, in fact, when I posted a list of my records seeking comments on the quality of the collection) have sent me PMs advising me that now is the time to sell (because, y'know, fans are getting too old to dance and will be dumping their collections any minute now).

[hrtshpdbox]

I know several doowop collectors that this has happened to and at least a couple cases of this in progress

The bottom certainly has fallen out of the doo-wop market, and the question is whether it can "come back" in the future; many would say it's just too odd-sounding to modern ears. So I guess that presents the same conundrum re: soul - will there perpetually be new fans based on the strength of the music itself? Since I'm such a pauper otherwise, if I absolutely knew that soul prices would decline in a similar way as doo-wop has, I'd be rather forced to sell 'em instead of leaving them to my kids (who'd just unceremoniously dump them for next-to-nothing etc.). You folks with actual clubs to go to where you can spin the records and engage in your social activity of choice, it's different for you, and I'd say you're pretty lucky.

[paultp]

Fabulous point that Ian, we've estimated there are over 40,000 collectors of Rare-Soul vinyl. A large percentage of them will never sell anything. It's not rocket science to work out the supply and demand ratio is what fuels rare-soul vinyl prices.

Actually I think it could be rocket science if you take all the variables involved.

(Non-mathematicians look away now)

Let X = record price

The next thing to do is list the variables:

Let R = Rarity (possibly 2 variables - L = label & T= tune)

Let C = Collectability (difficult label no, related to certain artist, etc)

Let I = In-demandness

Let Q = Quality of tune (again possibly 2 variables - E = listenability & D = danceability)

Let S = Previous known sales prices

Let P = Previous purchasers

Let Z = purchase price

Let Q = quantity in the market for sale (not to be mistaken for quantity owned by dealer or confused with rarity)

Next we have to decide what to start the equation with and then weight each variable (ie determine a scale for it) to know what effect it has on the starting variable to give the price.

I would say the start point would normally be previously known sales price (if known - if not ?) so the start of the equation is:

X = P ....

Everything should then act as a factor on that so we get:

X = P()

So the next thing to do is put an understandable scale against each variable to determine the effect it has .....

.... errr ...... maybe that's why it is difficult to price records!

If anyone would like to take this further please do.

Edited July 25, 2008 by paultp

[Guest]

Actually I think it could be rocket science if you take all the variables involved.

(Non-mathematicians look away now)

Let X = record price

The next thing to do is list the variables:

Let R = Rarity (possibly 2 variables - L = label & T= tune)

Let C = Collectability (difficult label no, related to certain artist, etc)

Let I = In-demandness

Let Q = Quality of tune (again possibly 2 variables - E = listenability & D = danceability)

Let S = Previous known sales prices

Let P = Previous purchasers

Let Z = purchase price

Let Q = quantity in the market for sale (not to be mistaken for quantity owned by dealer or confused with rarity)

Next we have to decide what to start the equation with and then weight each variable (ie determine a scale for it) to know what effect it has on the starting variable to give the price.

I would say the start point would normally be previously known sales price (if known - if not ?) so the start of the equation is:

X = P ....

Everything should then act as a factor on that so we get:

X = P()

So the next thing to do is put an understandable scale against each variable to determine the effect it has .....

.... errr ...... maybe that's why it is difficult to price records!

If anyone would like to take this further please do.

Life's too short !!

[Tim Smithers]

Actually I think it could be rocket science if you take all the variables involved.

(Non-mathematicians look away now)

Let X = record price

The next thing to do is list the variables:

Let R = Rarity (possibly 2 variables - L = label & T= tune)

Let C = Collectability (difficult label no, related to certain artist, etc)

Let I = In-demandness

Let Q = Quality of tune (again possibly 2 variables - E = listenability & D = danceability)

Let S = Previous known sales prices

Let P = Previous purchasers

Let Z = purchase price

Let Q = quantity in the market for sale (not to be mistaken for quantity owned by dealer or confused with rarity)

Next we have to decide what to start the equation with and then weight each variable (ie determine a scale for it) to know what effect it has on the starting variable to give the price.

I would say the start point would normally be previously known sales price (if known - if not ?) so the start of the equation is:

X = P ....

Everything should then act as a factor on that so we get:

X = P()

So the next thing to do is put an understandable scale against each variable to determine the effect it has .....

.... errr ...... maybe that's why it is difficult to price records!

If anyone would like to take this further please do.

I think you need help

[Steve L]

merely noting that people (from this very board, in fact, when I posted a list of my records seeking comments on the quality of the collection) have sent me PMs advising me that now is the time to sell (because, y'know, fans are getting too old to dance and will be dumping their collections any minute now).

this is absolutely right, anyone with any sense will sell up pretty soon before the value crashes - think of all that money down the drain, SELL SELL SELL

[Guest Bogue]

Until they shuffle off this mortal coil, at which point their relly's will dump it all unceremoniously onto the market for next to nothing. This is the rationale I've been given, by people ostensibly in the know, for selling everything now.

Wrong ! If you ask most on here they are going to be buried with them !

...... Future business opertuinity thought ?? ..... Oversized coffins with record storage facilities............ Could make someone a millionaire !

That wouldn't be the Bogue that's apparently imitating me would it?

Ian D

That's him !! Complete b*****d

Actually I think it could be rocket science if you take all the variables involved.

(Non-mathematicians look away now)

Let X = record price

The next thing to do is list the variables:

Let R = Rarity (possibly 2 variables - L = label & T= tune)

Let C = Collectability (difficult label no, related to certain artist, etc)

Let I = In-demandness

Let Q = Quality of tune (again possibly 2 variables - E = listenability & D = danceability)

Let S = Previous known sales prices

Let P = Previous purchasers

Let Z = purchase price

Let Q = quantity in the market for sale (not to be mistaken for quantity owned by dealer or confused with rarity)

Next we have to decide what to start the equation with and then weight each variable (ie determine a scale for it) to know what effect it has on the starting variable to give the price.

I would say the start point would normally be previously known sales price (if known - if not ?) so the start of the equation is:

X = P ....

Everything should then act as a factor on that so we get:

X = P()

So the next thing to do is put an understandable scale against each variable to determine the effect it has .....

.... errr ...... maybe that's why it is difficult to price records!

If anyone would like to take this further please do.

All _ for greed factor

G

Edited July 25, 2008 by Bogue

[Prophonics 2029]

Actually I think it could be rocket science if you take all the variables involved.

(Non-mathematicians look away now)

Let X = record price

The next thing to do is list the variables:

Let R = Rarity (possibly 2 variables - L = label & T= tune) B

Let C = Collectability (difficult label no, related to certain artist, etc) O

Let I = In-demandness L

Let Q = Quality of tune (again possibly 2 variables - E = listenability & D = danceability) L

Let S = Previous known sales prices O

Let P = Previous purchasers C

Let Z = purchase price K

Let Q = quantity in the market for sale (not to be mistaken for quantity owned by S

confused with rarity)

Next we have to decide what to start the equation with and then weight each variable (ie determine a scale for it) to know what effect it has on the starting variable to give the price.

I would say the start point would normally be previously known sales price (if known - if not ?) so the start of the equation is:

X = P ....

Everything should then act as a factor on that so we get:

X = P()

So the next thing to do is put an understandable scale against each variable to determine the effect it has .....

.... errr ...... maybe that's why it is difficult to price records!

If anyone would like to take this further please do.

I have changed a few of the values to make it easier to calculate the other variant is that its a one off record or acetate.

Edited July 25, 2008 by Prophonics 2029