My plan of buying records and selling them on in order to buy more records has two fairly basic components. One is easy to achieve, the other less so.
Buying records is the easy part. It’s a piece of piss, and not only that, it’s also a lot of fun. You go into a shop, dig through records, select the ones you like, pay for them, and then you leave. Job done. Selling the records is the tricky part and after giving it some thought over the last week or so, here is my plan for how I’m going to do it.
When I find a record I will first of all, as the name of the blog suggests, attempt to sell it on eBay. However not every record I put up for sale on eBay will actually sell (as I’ve discovered) and, more importantly, not every record I find and take home is actually worth putting on eBay in the first place.
This will usually be the case when there are already multiple copies available for sale, and the two Transvision Vamp LPs I picked up are a case in point. The flash of popularity that Wendy James and the boys enjoyed at the tail end of the 1980s has not, it seems, translated into nostalgic affection. People are pretty much crawling over themselves to shift copies of Pop Art and Velveteen on eBay, so it’s hardly worth the time, effort and (small) expense of me doing the same.
The records that haven’t shifted via eBay, or haven’t made it onto the auction site in the first place, are going to go into what I’m loosely and optimistically describing as ‘Stock’. I’ll attempt to sell this ‘Stock’ at record fairs and similar events for the duration of the project, and any that remain unsold by September 2013 will be offloaded as a job lot to a 2nd Hand Record Shop. I’ve found a Record Fair near to me that runs on a monthly basis, The Moseley Book & Record Fair, and booked myself in for a slot from November onwards.
Each record is also for sale via this site, of course. If someone likes anything in the inventory they can email me and make me an offer. After settling on an amount that both parties agree covers price and postage, Paypal and the Royal Mail will facilitate the rest.
So, that’s my plan. What do you think?
All in all I’m fairly happy with this method of moving the records on. Each record will have several chances of finding a loving new owner, and if I’ve been unable to play Cupid by the time I stop this madness next year, then they will go back into the racks of an actual shop.
This method does however present me with one crucial problem, that of ‘Cashflow’, and this problem has already reared it’s head. The 50p I spent on the Frankie Goes To Hollywood program turned into £10. The £9.50 profit turned into 14 records, all of which are currently unsold. I am not, as wankers say, ‘liquid’.
I want to keep moving with this idea, and in order to keep moving I need to buy records, so I’ve decided that I’m going to give myself a modest float of £120 (£10 a month) to see me through the year. This buffer will enable me to buy records even if my ‘Stock’ is…ahem…performing sluggishly in the marketplace. This £120 also acts as a pretty good cut-off mechanism. If at any point before the end of the year I find myself having spent all of the £120, and there is no prospect of a return, then I reckon that will be an excellent time to concede that I’m just not very good at this.
However, I’m pleased to report that this strategy is paying off, at least so far. After spending my £9.50 profit I went out and spent a further £6.50 from ‘The Float’ on 8 more records (listed below) and put most of them on eBay. Two of the records, the Grateful Dead and Johnny Winter LPs, sold earlier this week on eBay for a combined total of £10.50. BOOM! I am solvent again.
This joyous news means at number of things:
- I am back in profit to the tune of £4.
- I can spend this on more records
- My float is once again back at £120
and, best of all,
- I have 20 records in stock that are bought and paid for.
Onwards and upwards!
List of records bought on 8th and 9th September
Wizzard – I Wish It Could Be Christmas Everyday, 1973 7”, Harvest, HAR 5079
Lost Horizon OST, 1973 LP, Bell, SYBEL 8000
Corduroy – The Joker Is Wild, 1991 12”, Big Cat/V2, ABB129T/LC5661
Herbie Hancock – Tell Everybody, 1979 12”, CBS, S CBS 12 7229
Adam & The Ants – Stand & Deliver, 1981 7”, CBS, A 1065
Various Artists – Boiling Point – 1991 LP, World Circuit, WCB 022
Grateful Dead – Double Live LP, 1971, Warners, K66009
Johnny Winter – Second Winter, 1969 LP, CBS, 66231