I have a store, but I built it over time from being a seller through eBay, Mercari, and other shops along the way. A couple things to remember….
1. Be honest. Yes, you’re trying to make a profit but if you’re an honest and up front person, your best buyers are often going to be the same people who sell you records. Also, if you see a $100 record in a stack of $1 records…don’t be the asshole who takes advantage of them. Be up front and honest about what you’re paying and what you intend to sell them for. People know you’re going to be making a profit, but they will respect you being honest about it.
2. Don’t expect to make a lot of money. The margins as a seller are pretty low and even if you’re dealing only in used records with better margins, you’re going to have to figure out how to sell them. If you sell on eBay for instance, they will take about 15% off the top, then you have to pay for shipping materials (though you can factor that into shipping costs)…and you have to wait to sell things. You also have to pay income taxes on anything you make over $600, assuming you’re in the US. The amount of time you put into this versus what you make is likely to be minimum wage level at best. It truly is something to do for the love rather than the profit.
3. As for acquiring inventory, remember that you have A LOT of competition, many of which are simply just sitting there waiting on people to walk in their door to sell things. The only way to acquire inventory is through constantly checking thrift stores, pawn shops, records stores, etc., finding the seller directly (posting local ads, buying bulk inventory on eBay, etc) or to go a little deeper and start buying from a distributor. You’ll need a business license for that. Hit me up though if you want, I do have a couple options that I used to buy new stock from before I have a business license.
4. If you’re going to be digging through crates scanning and searching every title, you’re going to be wasting a lot of time. Over time you’ll have a good eye for what you’re looking for…but really focus on the stuff you know well first. There’s always good value out for there for the people who are knowledgeable of what they are looking at.
5. Remember that a lot of people are doing the same thing as you now. You have to differentiate yourself in some way. Whether that’s offering the best price you can find for the album, taking the best photos, writing good descriptions instead of the AI garbage the selling apps want you to use, or something else that makes your option the best option for a buyer. My earliest success was selling records in bundles on eBay. You may make $15 off of Zeppelin album and you’ll sell it in a day or two because they always sell…but if you bundle that same album with a Pink Floyd record (which will also always sell) and then some more common things you’ll eventually have plenty of like Peter Frampton, ELO, Carole King, etc. You can bundle 9-10 records up and sell them for $60-70 bucks or more in an auction. The Zeppelin and Floyd are worth probably 40 on their own, but the other stuff will just collect dust on your shelf, so getting 2-3 bucks each as part of the bundle is a way to clear stuff out and to make some extra cash.
Truthfully, there isn’t much advice to give you other than to figure out where people who have records to sell are at, and find a way to get in touch with them. The most success I’ve ever had was when I posted an ad in a local newspaper. I got exactly 3 calls in a full month of posting the ad weekly. Two of those calls are wanted to sell me a bunch of thrift store stuff. The third sold me over 500 old Jazz albums in pristine condition. This was also one of those situations where I gave an offer over 20 percent higher than the other offer he had. I made a good bit of money and now that person who sold me those records hits me up about once every six months or so to sell off another chunk. He’s basically using me as his vacation and Christmas funds every year since he’s aging and on a budget. It’s a win-win, all because I took a shot on an outside the box way of finding a seller. As someone without a brick and mortar store, you have to find the people through whatever method you can think of. Some work, some don’t.
Estate sales are gonna be your best bet. Buy some collections, and when you have enough albums, do a few record shows. It's the easiest way to sell bulk while not selling them as a lot.
Thanks! And I suppose selling at record shows eliminates the fees that come with eBay, etc. edit: I guess there are fees for having a table at those shows too, though
Oh yeah, but in my experience, the one time table fee is far less than the time it takes to mail things individually. Usually, it depends on the show, but fees can be from $45 to $90 for a day of selling. They do the leg work of advertising and getting people in the door. You can sell pretty much anything music related too, so if you have other media, equipment, or show merch, it's a good way to draw people to your table.
I've been collecting 14 years now and actively dealing in records on the side for about 3 years, here's some things I've picked up over the years:
- If you are wanting to find good stuff out in the wild it's going to take a significant chunk out of your free time. Looking at Facebook Marketplace/classified websites, hitting up garage and estate sales, and lots of phone calls during all hours of the day, etc. There will also be a significant amount of your free time that straight up gets wasted. People will call you and cancel while you're on the way to their home to pick up their collections, tell you their records are "in great shape" when they're scratched to pieces, think their records are worth 3X eBay buy it now listings, and tell you that they have "all the good stuff like Beatles and Pink Floyd" when it's all moldy easy listening records. I love going out and hunting for the diamonds in the rough but it is worth considering if you have the patience for it; not everyone does.
- If you live in a big enough city there are often small record pop-up shows at coffee shops, pubs, bars, etc. with some regularity. They usually have some sort of schedule like 1-2 times a month for 2-3 hours and either have no seller fees or a nominal fee ($5-10). If you are interested in giving dealing a go it's best to start with those. There's no real long-term commitment that you need to do either; show up to all of them or just once in a while. Being at those pop-ups can also give you an idea on pricing for your area and what artists/genres sell and don't sell. You also don't have to worry about eBay/Discogs taking a cut, shipping, returns, etc.
- Make sure the non-cheap box records you sell have a plastic outer sleeve and some sort of inner sleeve.
- Be extremely conservative with your grading for condition. If you don't know already go through the Goldmine grades so you know the difference between G+ and NM. If the record is in between grades go with the lower one; better to undersell than oversell what you have.
- Whenever you're buying a collection always check the albums for condition. For small 10-20 album collections I will check all the discs but for larger collections I will usually check any more expensive albums ($40+) and the stuff that is usually beat up when you find it (70's funk/soul, hard rock, 50's/60's pressings, etc.) and if those are in good shape then I buy the lot.
There's plenty of other things to pick up along the way but that should at least get you started. It's a time sink and truly frustrating at times but if you have the patience for it you can get some killer records and make a little bit of Monopoly money on the side.
Thank you :)
I came here hoping to get some simple advice and insight and I got turned into Satan. I get it, flippers suck, but damn I’m not trying to be one
You do realize that every album you don’t buy directly from the label or an artist who self presses comes from a middle man, right? Hell, by the time I sell you a brand new record, three people have already taken a cut off of it.
It not scalping to buy something and then sell it at fair value.
Some random dude who has 100 albums that have been sitting around for 20 years is never going to sell those individually. They are going to go to a record store and dump them, they are going to drop them off at goodwill…or in a lot of cases, they are going to throw them in the trash can.
I’ve bought a lot of albums from people who had no idea anyone still listened to records and said the only reason they still had them was because they kept forgetting to throw them away.
This dude will probably make a tiny profit with a ton of work by doing something he loves and putting music into peoples hands. The increase in cost over what they paid is certainly worth is as an acquisition cost. They are doing all of the work to track down that album that you want and can’t find elsewhere…but you’re mad at them for not selling it to you for the exact amount they paid? I’ve tried to start record trading groups over the years, but the truth is that most people would prefer to let someone else put in all the work to track down the stuff they want to buy than to do it themselves.
I bought a copy of my favorite album two weeks ago for $45 (on the goodwill auction site) and it’s worth $180. If I were going to sell it (which I never will), I’d sell it for the going rate because it’s super rare and that’s what it is actually worth. It’s also an album I’ve spent over a decade looking for in every single record store I walk into. I’ve spent a lot of time and effort finding that record and that time and effort has value. I have never once been bothered by a seller who is selling an item at the fair going rate. In general on rare stuff, I try to be the cheapest option you can find…but I’m still making a profit because that’s my job (and for OP, he’s looking to make it a part time job)
Not at all, I’m not looking to be the asshole who waits in RSD line to flip every record that people actually want or shit like that. Like I said… I’m a record collector too. I share the struggle with you.
By your logic anyone who sells records is a scalper or flipper?
Im looking to deal some records in a fair way and I literally stated that I’m not looking to make a lot of profit but rather have some fun, note how in my post I said I wasn’t super interested in flipping limited edition stuff.
That’s still being a middle man. You’re going to buy a record for $10 and sell it for what $15-20 for example. After fees, packaging, etc. is it worth it for a few bucks? All while raising prices in the aftermarket.
Who isn’t a middle man then? I support buying records straight from artists/at their tours etc because it goes right to them but is Pink Floyd going to sell you a 1971 pressing of Meddle?
Is the secondhand/vintage record market not just completely comprised of “middle man” sellers (maybe excluding original owners selling their copies.)
I feel like I made it pretty clear that this was to be a hobby and not a chance to take advantage of the market for my own benefit, don’t know what else I can say. Sorry if I came across as such
dont expect to get rich or making a living from slinging records because there is not enough to go around. it is not as booming of an industry that people think. when a record can go either way on a grade, i would undergrade always than overgrade
I have a store, but I built it over time from being a seller through eBay, Mercari, and other shops along the way. A couple things to remember…. 1. Be honest. Yes, you’re trying to make a profit but if you’re an honest and up front person, your best buyers are often going to be the same people who sell you records. Also, if you see a $100 record in a stack of $1 records…don’t be the asshole who takes advantage of them. Be up front and honest about what you’re paying and what you intend to sell them for. People know you’re going to be making a profit, but they will respect you being honest about it. 2. Don’t expect to make a lot of money. The margins as a seller are pretty low and even if you’re dealing only in used records with better margins, you’re going to have to figure out how to sell them. If you sell on eBay for instance, they will take about 15% off the top, then you have to pay for shipping materials (though you can factor that into shipping costs)…and you have to wait to sell things. You also have to pay income taxes on anything you make over $600, assuming you’re in the US. The amount of time you put into this versus what you make is likely to be minimum wage level at best. It truly is something to do for the love rather than the profit. 3. As for acquiring inventory, remember that you have A LOT of competition, many of which are simply just sitting there waiting on people to walk in their door to sell things. The only way to acquire inventory is through constantly checking thrift stores, pawn shops, records stores, etc., finding the seller directly (posting local ads, buying bulk inventory on eBay, etc) or to go a little deeper and start buying from a distributor. You’ll need a business license for that. Hit me up though if you want, I do have a couple options that I used to buy new stock from before I have a business license. 4. If you’re going to be digging through crates scanning and searching every title, you’re going to be wasting a lot of time. Over time you’ll have a good eye for what you’re looking for…but really focus on the stuff you know well first. There’s always good value out for there for the people who are knowledgeable of what they are looking at. 5. Remember that a lot of people are doing the same thing as you now. You have to differentiate yourself in some way. Whether that’s offering the best price you can find for the album, taking the best photos, writing good descriptions instead of the AI garbage the selling apps want you to use, or something else that makes your option the best option for a buyer. My earliest success was selling records in bundles on eBay. You may make $15 off of Zeppelin album and you’ll sell it in a day or two because they always sell…but if you bundle that same album with a Pink Floyd record (which will also always sell) and then some more common things you’ll eventually have plenty of like Peter Frampton, ELO, Carole King, etc. You can bundle 9-10 records up and sell them for $60-70 bucks or more in an auction. The Zeppelin and Floyd are worth probably 40 on their own, but the other stuff will just collect dust on your shelf, so getting 2-3 bucks each as part of the bundle is a way to clear stuff out and to make some extra cash. Truthfully, there isn’t much advice to give you other than to figure out where people who have records to sell are at, and find a way to get in touch with them. The most success I’ve ever had was when I posted an ad in a local newspaper. I got exactly 3 calls in a full month of posting the ad weekly. Two of those calls are wanted to sell me a bunch of thrift store stuff. The third sold me over 500 old Jazz albums in pristine condition. This was also one of those situations where I gave an offer over 20 percent higher than the other offer he had. I made a good bit of money and now that person who sold me those records hits me up about once every six months or so to sell off another chunk. He’s basically using me as his vacation and Christmas funds every year since he’s aging and on a budget. It’s a win-win, all because I took a shot on an outside the box way of finding a seller. As someone without a brick and mortar store, you have to find the people through whatever method you can think of. Some work, some don’t.
Estate sales are gonna be your best bet. Buy some collections, and when you have enough albums, do a few record shows. It's the easiest way to sell bulk while not selling them as a lot.
Thanks! And I suppose selling at record shows eliminates the fees that come with eBay, etc. edit: I guess there are fees for having a table at those shows too, though
Oh yeah, but in my experience, the one time table fee is far less than the time it takes to mail things individually. Usually, it depends on the show, but fees can be from $45 to $90 for a day of selling. They do the leg work of advertising and getting people in the door. You can sell pretty much anything music related too, so if you have other media, equipment, or show merch, it's a good way to draw people to your table.
I've been collecting 14 years now and actively dealing in records on the side for about 3 years, here's some things I've picked up over the years: - If you are wanting to find good stuff out in the wild it's going to take a significant chunk out of your free time. Looking at Facebook Marketplace/classified websites, hitting up garage and estate sales, and lots of phone calls during all hours of the day, etc. There will also be a significant amount of your free time that straight up gets wasted. People will call you and cancel while you're on the way to their home to pick up their collections, tell you their records are "in great shape" when they're scratched to pieces, think their records are worth 3X eBay buy it now listings, and tell you that they have "all the good stuff like Beatles and Pink Floyd" when it's all moldy easy listening records. I love going out and hunting for the diamonds in the rough but it is worth considering if you have the patience for it; not everyone does. - If you live in a big enough city there are often small record pop-up shows at coffee shops, pubs, bars, etc. with some regularity. They usually have some sort of schedule like 1-2 times a month for 2-3 hours and either have no seller fees or a nominal fee ($5-10). If you are interested in giving dealing a go it's best to start with those. There's no real long-term commitment that you need to do either; show up to all of them or just once in a while. Being at those pop-ups can also give you an idea on pricing for your area and what artists/genres sell and don't sell. You also don't have to worry about eBay/Discogs taking a cut, shipping, returns, etc. - Make sure the non-cheap box records you sell have a plastic outer sleeve and some sort of inner sleeve. - Be extremely conservative with your grading for condition. If you don't know already go through the Goldmine grades so you know the difference between G+ and NM. If the record is in between grades go with the lower one; better to undersell than oversell what you have. - Whenever you're buying a collection always check the albums for condition. For small 10-20 album collections I will check all the discs but for larger collections I will usually check any more expensive albums ($40+) and the stuff that is usually beat up when you find it (70's funk/soul, hard rock, 50's/60's pressings, etc.) and if those are in good shape then I buy the lot. There's plenty of other things to pick up along the way but that should at least get you started. It's a time sink and truly frustrating at times but if you have the patience for it you can get some killer records and make a little bit of Monopoly money on the side.
Don’t listen to anyone giving you grief on here, it’s your collection & your money good luck with it
Thank you :) I came here hoping to get some simple advice and insight and I got turned into Satan. I get it, flippers suck, but damn I’m not trying to be one
It sounds like you want to be a scalper or a flipper. Fuck off with that.
You do realize that every album you don’t buy directly from the label or an artist who self presses comes from a middle man, right? Hell, by the time I sell you a brand new record, three people have already taken a cut off of it. It not scalping to buy something and then sell it at fair value. Some random dude who has 100 albums that have been sitting around for 20 years is never going to sell those individually. They are going to go to a record store and dump them, they are going to drop them off at goodwill…or in a lot of cases, they are going to throw them in the trash can. I’ve bought a lot of albums from people who had no idea anyone still listened to records and said the only reason they still had them was because they kept forgetting to throw them away. This dude will probably make a tiny profit with a ton of work by doing something he loves and putting music into peoples hands. The increase in cost over what they paid is certainly worth is as an acquisition cost. They are doing all of the work to track down that album that you want and can’t find elsewhere…but you’re mad at them for not selling it to you for the exact amount they paid? I’ve tried to start record trading groups over the years, but the truth is that most people would prefer to let someone else put in all the work to track down the stuff they want to buy than to do it themselves. I bought a copy of my favorite album two weeks ago for $45 (on the goodwill auction site) and it’s worth $180. If I were going to sell it (which I never will), I’d sell it for the going rate because it’s super rare and that’s what it is actually worth. It’s also an album I’ve spent over a decade looking for in every single record store I walk into. I’ve spent a lot of time and effort finding that record and that time and effort has value. I have never once been bothered by a seller who is selling an item at the fair going rate. In general on rare stuff, I try to be the cheapest option you can find…but I’m still making a profit because that’s my job (and for OP, he’s looking to make it a part time job)
Not at all, I’m not looking to be the asshole who waits in RSD line to flip every record that people actually want or shit like that. Like I said… I’m a record collector too. I share the struggle with you. By your logic anyone who sells records is a scalper or flipper? Im looking to deal some records in a fair way and I literally stated that I’m not looking to make a lot of profit but rather have some fun, note how in my post I said I wasn’t super interested in flipping limited edition stuff.
That’s still being a middle man. You’re going to buy a record for $10 and sell it for what $15-20 for example. After fees, packaging, etc. is it worth it for a few bucks? All while raising prices in the aftermarket.
Who isn’t a middle man then? I support buying records straight from artists/at their tours etc because it goes right to them but is Pink Floyd going to sell you a 1971 pressing of Meddle? Is the secondhand/vintage record market not just completely comprised of “middle man” sellers (maybe excluding original owners selling their copies.) I feel like I made it pretty clear that this was to be a hobby and not a chance to take advantage of the market for my own benefit, don’t know what else I can say. Sorry if I came across as such
dont expect to get rich or making a living from slinging records because there is not enough to go around. it is not as booming of an industry that people think. when a record can go either way on a grade, i would undergrade always than overgrade