World's largest collection of vinyl, worth $50 million, on sale for $3 million
Filed under: Extracurriculars, Investing
Those of you who love, and I mean REALLY love music, imagine for a moment owning 3 million LPs and 300,000 CDs covering the full gamet of American music, from Rudy Vallée to Jay-Z, Edison to Enelmedio. All this and more can be yours, if the price is right. That price is $3 million.
Over half of the collection of Paul Mawhinney, built over sixty years, is unused, and includes 78s (ask your grandparents), 45 singles, LPs and CDs. Stated another way, the collection contains 57 YEARS of music. Compare that to the play time on your iPod, if you dare. The collection, which as been appraised at $50 million, is housed in a 16,000 square foot, air-conditioned warehouse.
The owner, publisher of the most recognized guide to buying and selling records, Music Master, hopes to sell the collection to a museum or other not-for-profit that will archive it properly. However, lacking this, he will entertain other offers. According to Gizmodo, Mawhinney's going price du jour is $3 million. What a steal of a deal! Give me a turntable and some Costco emergency food supplies and set me loose in the stacks. I might never be heard from again.
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Reader Comments (Page 1 of 2)
8-20-2008 @ 3:47PM
Mike said...
My Friends .. there is only one 45 that is Not in that colection..the Five Sharps.. Stormy Wether ..Jubilee ( #5104 ) 1954.. if that was in colection you would have a steal..for the price of all them..
Reply
8-20-2008 @ 4:05PM
kay said...
You mean Stormy Weather, right?
8-20-2008 @ 4:56PM
Connie said...
I have old records from my dad's days- big band plus others from the 50,60 & 70 how do I know what are good and know what they are worth?
8-20-2008 @ 3:57PM
Claude DeMoss said...
Why would anyone sell something worth $50 Million for only $3 Million...Doesn't make sense!
cdm
San Jose, CA
Reply
8-20-2008 @ 5:41PM
Lizabeth S Tucker said...
The price is probably low so that an appropriate museum could afford it. They MIGHT go for 3mil, they wouldn't be able to go for 50mil.
8-20-2008 @ 3:58PM
David Tomasello said...
This is pure music magic,well ,well worth it just in saving time alone, looking for all this stuff.This will only go up in value I believe
Reply
8-20-2008 @ 4:08PM
Bill said...
I own approximately 3000 records 45's, 12" singles and EP's and albums, including multi-album collections and colored vinyl, promo copies etc etc....you need to hunt deep into the world to find anyone who would pay anything for anyone's vinyl.
Reply
8-20-2008 @ 6:00PM
david said...
im interested ty
8-20-2008 @ 4:09PM
Bill said...
Appraised by whom?
Nobody but Mawhinney knows what's there. There is no list of what he's selling. Bogus.
Reply
8-20-2008 @ 4:20PM
Mike said...
Good Luck, that stuff is worthless.... Everything ever recorded is mastered and on the internet.
Reply
8-20-2008 @ 4:28PM
moosetmj said...
not everything
8-21-2008 @ 8:46AM
Max L said...
if you think vinyl records are worthless, you have totally missed the point of having a record collection. digital files on an iPod are boring. I'd take one good record album in good condition over 1,000 downloads any day.
8-20-2008 @ 4:23PM
Bill B said...
Your right to bad there isn't a list....I have over 1600 total between albums and 45's all types...$3,00 for the whole lot...better then 3 Million
Reply
8-20-2008 @ 6:00PM
david said...
im interested ty
8-20-2008 @ 4:24PM
Bill B said...
Sorry I meant $3,000.
Reply
8-20-2008 @ 4:36PM
jay said...
who cares!
Reply
8-20-2008 @ 4:38PM
Andy Davison said...
How can I get a listing of what is in the collection
Reply
8-20-2008 @ 4:39PM
Geof Colgate said...
Is the warehouse included in the deal. If so I might consider purchasing the collection. Moving and storage could cost and additional 3 million on its own.
Reply
8-20-2008 @ 4:41PM
Collector said...
Wow, sure beats my 1000 or so records taking up space in the basement.
But three million dollars? To what end. There may be art (jacket covers) to consider but who really wants records. Does it mean I can sell my 200 old eight track tapes?
I say, list them individually on eBay and let the bidding begin.
Reply
8-20-2008 @ 4:45PM
dude said...
Nobody knows what is in the collection? It said he has over 3 MILLION LPs and 300,000 CDs... I think about everything is in there.
Reply