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|23-04-2011, 07:32 AM||#1 (permalink)|
Money spinners: With rare vinyl records selling for up to £8,000, do you have a fortune sitting in your attic?
It's time to dig out those dusty old LPs as an increased demand for rare vinyl has sent prices spiralling.
Original pressings of classic recordings are now being seen by experts as safe long-term investment opportunities.
Record Collector magazine has compiled a list of the best 51 records for investors and at the top is the ultra-rare withdrawn Sex Pistols single God Save the Queen on A&M Records.
The Sex Pistols, signing their ill-fated recording contract with A&M Records outside Buckingham Palace in 1977. Surviving copies of their hit God Save The Queen released on this label are worth £8000
The label famously dumped the band before it was released and destroyed most of the copies, making it worth £8,000 today on the rare occasions a copy turns up.
The Beatles debut Please Please Me is in second place at £3500, although pristine copies are believed to be worth much more.
Some of the other records on the list are more affordable, with mint condition first pressings of popular albums like David Bowie's The Rise And Fall Of Ziggy Stardust And The Spiders From Mars worth around £40 and likely to increase in value.
Investments: The self- titled debut albums from the Beatles and Led Zeppelin
Ian McCann, editor of Record Collector magazine, said: 'There is something of an investment market in mint-condition copies of iconic albums.
'The problem is people love them and play them to death, making it increasingly rare to find them in mint condition.'
TOP 10 PRECIOUS VINYL
Another valuable example is the Rolling Stones self-titled UK debut album with mint copies going for £1,000.
But it's not just the oldies that are fetching high prices. Recent releases too are also becoming increasingly sought-after. The critically-acclaimed nu-folkie Laura Marling's 2007 debut EP is already going for £40.
Personal finance expert Simon Read told Record Collector: 'Vinyl inflation has rocketed as collectors snap up elusive treasures.
Even big-selling records you couldn't have moved on for 50p a few years ago are fetching pounds as a generation finds the cash and the means to buy back their memories.
'However, records are the same as any other investment in that they are only worth what you can get for them. For that reason the timing of the sale is crucial. Are vinyl prices set to continue rising? In general, yes.
'But as specific bands and artists come in and out of fashion, if you really want to use your collection as a pension, you'll need to manage it properly.
To a degree that will mean not only buying the music that you love, but investing in records that will remain highly prized.
Read more: With rare vinyl records now selling for up to £8000... Do you have a forgotten fortune sitting in your attic? | Mail Online
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