What Is Happening In The Vinyl Industry? (Reaction Video!)
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- Опубликовано: 17 сен 2024
- We sat here watching Dillon's most recent video and couldn't help but react. 2024 has been a very interesting year for the vinyl industry...and he touches on several topics that are top of mind for us as well. Prices, flippers, inflation, and so much more...
If you haven't already seen his full video the link is below. Check out our response and let us know your thoughts!
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As a long-time collector (baseball cards, vinyl, cds, bobbleheads, comics). These things are cyclical! The vinyl scene is peaking. Baseball card scene is cooling. Comics are relatively low right now. Right now is a terrific time to LISTEN to your music collection.
Amen to that. I’d say the vinyl “peak” was 2022. It’s been a steady decline since then
As the really ole guy in the room, in 2007 I decided to sell all my vinyl and go all digital.
I "do not" stream music, my collection is on multiple hard drives and in the Flac format. My collection has grown to the point where my friend calls it the library when he's looking for something. The thing I don't understand about vinyl collectors is I hear them talk about first pressings, reissues, hype sticker, obi strip, tip on jackets and sealed or unsealed. What I don't hear is anything about the musicians on the album, how they sound, clarity, is Jaco's bass thumping. I collect music because of the musicians and musicians only, otherwise what's the point
You got a FLAC file but what source it comes from? And where is the artwork that goes along with it? Lyrics? Description?
The music is a big reason why certain pressings go for more. I’ve heard first hand a $600 Led Zepplin pressing playing after a regular $20-$30 one and the difference is insane.
I’ve only been listening to records for 2 or 3 weeks now. I just decided one day that it might be cool to listen to them and I’m really liking it. I love the cover art and all the fun colored vinyl! I’ve spent a lot of money getting set up. I sure want to be in it for the long haul.
Great to hear! It’s fun to collect!
Love to hear that!
Me too buddy!
@@NTXVinylI do too!😊
Enjoy your videos. Thanks for reacting to DIllon. He is a great guy.
Like everything else, you have to mix stuff up. Set new goals, do different goals. Make the selling records the foundation but mix the business up and branch out. That’s why our little store is succeeding.
Totally agree with you on this!!!
Where is your store?
The market got greedy and will eat itself, people have had enough
It's definitely crazy, but pretty much everything has become inflated, whether it be from natural or unnatural causes. Money is tight for many hobbyists right now, and it's not fun paying $40 + for something that can be sub-par quality right out of the package. It's always a shock to me to get a new record that is actually flat and damn near silent 🤫
@@lanceforston6777
This is the hangover from COVID this is what happens when everyone wears masks gets jabbed and stays home and receives money that gets printed and handed to them by their overlords
I agree. I also think it is the music industry at large. They have invested so much into streaming and having you rent your music. They are trying to kill all physical media.
Definitely as much I love my local shop paying an average 40 percent increase from online prices I find it hard to justify buying from them. Last time I went i found 4 lps I wanted but ranged from 36 to 44 for a single NEW lp. Went on indiemerch and found them for 25-28 a piece
@frankgarcia9834 history repeats itself. Same habits when cd replaced vinyl. It's about the m....argins, stupid 😉
A great watch as always, i started collecting back in the late 70's, my teen years were the 80's so that era is my passion, it was either records or cassettes and have never really stopped collecting (slowed right down when CD's came out) but got back on board going out digging dusty old crates here and there, up until say 2014 or so, just before the vinyl boom you could buy some great records for $1, $2 etc, now those are on ebay or Facebook Marketplace or Discogs for $30 or $40. Then you have new records, again quite affordable between $25-$35 AU, NOW those records at the same stores (JB Hi-Fi Australia) are $75-$100......that's what has clouded my interest, the cost, plus those old dusty record crates at markets, 2nd hand stores etc have nothing of interest what so ever, but what they do have the prices have rocketed skyhigh mainly due to everyone using Discogs as a price guide....these days i'll be lucky to purchase 4 or 5 a year, back 10 years ago i'd bring home 10-20 for a mornings dig or purchase 20 or 30 brand newies per year.
The onscreen record collection merge is trippy af.i love it! Many thanks!
Right?!? It’s funny how natural it looks…at first. I was laughing about it the second I clicked the split-screen option
I didn't get to watch all of this before commenting, but I agree. It totally is not as fun as it was. I started collecting with an INTENSE passion about 15 years ago. The thing that has gone away for me is 2 fold. 1. It was a given that I could walk into almost every record store with $50 and I would walk out with 15-20 great records. Now, due to inventory and status of my collection, I'm luck if every 9th visit yields even 1-2 records. So that consistent satisfaction is gone. 2. With the average $20 record today being $3-5 dollars just 10 years ago...I feel I don't have the ability to just go into records shops today and buy 5 albums I have NO CLUE about and just have fun with blind buys and discovering new music. I really feel that joy has been stripped as well as I'm not wealthy enough to do five or six $40 blind buys each time I go to a store. Digging is one thing, but the emotional work for a successful purchase is just a tad to high of a price now. I'm just really thankful I started when I did to get what I have.
Please take a few hours out of your day at your soonest convenience to map out the historical evidence for what you’ve just said, I’ll do the same, and we can reconvene. For your own sanity, if you honestly believe what you just said, you truly need to. Youre fostering your own sense of dread built upon your own misconceptions compounded over time no doubt.
It’s true the blind buy is gone. Can’t drop $35 hoping it’s a good album. Had a hard time doing that with CDs at $15 in the late 90s
A $20 record was $3-5 10 years ago? On what planet?
@@Matasky2010 he didn’t say a new $20 record
@@ummagumma7826 True..luckily we can now preview ANY music for free before deciding if the vinyl copy is worth buying.
If its true that people are dumping their 'COVID' collections...then for the collectors, it should be a boom. Sounds like a really fun time to collect. BTW, I've been 'collecting' since 1973, so 'flipping' isn't in my vocabulary...But totally agree that record buying - especially new record releases - is definitely becoming an elite market.
I’ve been thinking the same. Next few years will be interesting. I’m optimistic for my business
These "COVID" collections is just boring reissues. So prices should drop. Just wait and see. I also suspect many companies in the business going bankrupt.
I would never say I collect vinyl, I buy music. It happens to be on vinyl as it has been my whole life.
The most fun I have is at the thrift stores, Goodwill, ARC, ect. Finding a good copy of anything is a good day.
Plus you learn the whole discography of Eddie Arnold and the Dave Clark 5.
I like what Dylan says, but I appreciate Your comments and clarification even more! Thanks!
Appreciate you watching my friend!
Great video, GI! Really appreciate the time you put into this reaction video!
Love Dylan and your videos! another great video! thx
Thanks!
As a millenial I have grown up with collecting music, for me CDs. My parents both had vinyls that i listened to even cassette. Its nice to own something, something that is happening less and less for example (ps5 pro). I collect both to this day cds and vinyl but mostly CD. I get why it can be "tiresome" but with like everything, everything in moderation. If its a case of "hobby burn out" mix it up with listening to instead of buying and buying. Just because you can doesnt mean you should.
Thanks for the insight to the vinyl collecting hobby which i dip in and out of!
My dad is an artist. He’s retired now but, it was always a gamble when he would release new prints of his art work. Do we do 500?? 1500? Just never knew what to expect. After getting burned a few times he started taking deposits and preorders. And you’re exactly right with preordering- if 500 people gave us deposits, then we would print 700 as an example but, at least we would have our printing costs covered. The art fair scene reached its peak in the late 90’s early 2000’s and I see so many similarities between music stores and the art scene when it comes to sales. I’m glad we are out of it all together now because I don’t think we could survive. But, it was a lot of fun while it lasted 😊
I got back in to collecting records about 10 years ago. What I've seen reminds me greatly of when I collected comic books in the 80s and 90s. When i started it was about reading the books. Then the industry realized that people were collecting them, keeping them forever, bagging them, and selling them on a secondary market. The publishers started putting out limited edition covers, some books came with 5 or 10 different covers, X-Force #1 came bagged with a card. Collectors would feel the need to buy all the covers, or collect all the cards, or buy a copy to keep bagged and a copy to read. 30 years later, the record industry is doing the exact same.
Spot on.
like how baseball cards were back then, and how sneakers are now.
Saw Dylan's vid the other day, and think you added some v good points, thx
The collectors that started by buying vinyl record reissues, and have invested perhaps thousands, realize the only way to continue is to buy used vinyl. The used market will be ok and definitely better than the reissues market since the cost is a fraction of what you pay for new vinyl. Only in perhaps 20% of the cases do reissues actually better the originals. In order to have 100's or 1,000's of records, as a real collector, the only option is to buy used since new vinyl averages at $35 each. One would go broke continuing to buy new vinyl with the exception of some titles they can't find used, like Buckingham Nicks. This is an exception that has yet to be reissued and that likely won't happen due to licensing. Since it's hard to get quality used vinyl, most retailers will pay 30-40% of what a record is worth according to Discogs, most vinyl owners will pass on selling to dealers and just attempt to sell privately. Young people don't have a collector mentality like a 50-60 year old would- this is a key issue for retail and e comm stores. By the way, the colour vinyl doesn't cause someone to buy new V used- Im pretty sure about that. There are very few people that are on the VC channels that actually promote used vinyl. There is a reason for thi$. Flippers have killed the incentive for some to go for FOMO since they just can't compete with someone buying 10-20 copies to flip. That's new vinyl so again, used vinyl will become most popular and the only feasible way to build a vinyl collection. I should add one other point, I believe most over the age of 40 just don't care about new music to the point where they will not invest. They have so many "need to have" titles on their list of music they grew up listening to, that new music vinyl just isn't on the horizon for them. Sorry this is a long comment but I have over 50 years experience buying vinyl and adding to my collection. I also follow many VC channel sites and watch the mastering engineers talk about reissues etc. The Covid buying bubble is passed being broke. If I owned a record store, I would only sell used vinyl but finding and getting people to give up their collection for 35% of what it's worth, is not feasible. One last point, consumers do not care about vinyl production cost increases- they just see it as a cash grab.
Love your comment on the inflation calculator and how much it's different now due to streaming and that's not taken into account
Yeah....most people don't ever think of that. It's simply not apples to apples.
If artist can't make a living playing music, they won't be able to! People will always love physical!
Interesting, I’m more engaged today than in 2020, and have bought more vinyl in 23/24 than the 20 previous years.
"Not as fun as it used to be" You and Dylan are pretty young guys. You grew up in a different era in terms of vinyl record playing and collecting. Older people like myself who've been listening to records for 60 years still have fun, in fact I'm enjoying records more than ever. I don't know why the expectations have changed, unless you consider records as an investement which would definitely take the love for music out of the equation. YMMV.
@mmess65 I don't think it is an age thing. But whatever grandpa Simpson
Has less to do with age IMO and more to do with perspective as store owners - which for us is hard, because we are collectors as well personally. It's a tricky balance, kinda like being a player/coach in some ways.
@@mmess65 😙
@@frankgarcia9834nice respect young a***hole!
I watched Noble’s video yesterday
me too 😉
@@NTXVinyl great response video. Since my twins were born two years ago, I have slowed collecting. I will always collect but the pricing and flippers have bummed me out. I find I have to start selling off some of my collection in order to buy the new Beatles box set as an example. I am well aware there are plenty of Beatles records out there but I’m a sucker for the sets. FOMO is real, Flippers are real. Oh well. But anywho, great video and I’ll be looking forward to more from you on RUclips and the Now Spinning group
He’s great 🎉
@@joshuadimesa5296 cheers my friend! That Beatles set does look cool
Just in the past year I found a Terry Riley soundtrack I didn’t know existed for about $25, a copy of Swans “To Be Kind” (the seller dropped the already reasonable price without my asking!), Dead Can Dance’s debut album and the extremely hard to find Rolf und Florian (Kraftwerk), just to name a few. Yesterday I bought a small collection that included a copy of Miles Davis’ “Filles de Kilimanjaro” and “Live Evil,” a Sun Ra issue and a few other gems among the ordinaries. It’s still fun.
I work in the bicycle industry, we saw the same pattern of demand that created a bubble that burst back in 2023, and it's taken a lot of effort to manage inventory, so much excess stock. There will be major casualties in the record store retail market ahead.
I remember that! Same thing happened with guitars. I'm optimistic the vinyl hobby won't be drastically effected when this all shakes out. It was very niche in 2020, but steady....and by 2026 it'll be back in that same place. I hope.
@@NTXVinylit will, never again will it be in the toilet again like in the 90s!
No way! It will be back before 2020 at the least, never again will it be like the 90s! It's too great a format! And as convenient as streaming is, what a sad world it'd be if we only had streaming! They could change the art (the music) at will, I don't think music lover's will let that happen!😮😊
Eh, not so sure about that. A LOT of people are dumping reissues and OG’s. Economy is not great and gonna get tougher after election. I’ve already seen used prices dropping, how far it’ll go though is unknown.
Im a lifetime vinyl collector (age 60) after over a decade of cassettes and CD's in the 1980's and 90's I got back into vinyl around 2001. For me the vinyl bubble had truly burst with the heavily hyped triple vinyl release of Adele with an astounding 500,000 pressings at $63.00 ea filling up the shelves and consequently gathering dust at our local Walmart which would phase out CDs and vinyl (in Canada) altogether a year later. I think the current music climate is quite abysmal and ho-hum at present, Not to mention high prices My enthusiasm for acquiring new Lp's at present has fizzled out considerably.
I am a little happy the bubble has burst, getting new acquisitions for my collection has slowed down a lot. That said I will be shopping my local used record shop 'Faded Blue' here on N Locust St in Denton, TX. As he only sells used records, that said "Recycled Records & Record Hound" of late are selling mostly 'New Records'. In that small way I can support a local business and have a better chance of locating records that I actually want to bring home and listen to.
Great video ! Nice complement to the one Dillon did ! Really instructive
Thanks for watching!
I'm 47 and got into vinyl a few months ago. Like everything else currently, most of it is overpriced. The economy stinks right now and many are still taking advantage with overpricing. I'm also into gaming, drumming, and high end action figures. ALL of it is overpriced and it stinks. Hoping things take a turn but I doubt it. Greed rules this world. 😔
It's not really greed as much as it is the devaluation of the dollar as a result of printing $ out of thin air.
There’s one undeniable rule… what goes up will come down. Everything is cyclical. The vast majority of records are not an investment. Enjoy music.
@@michaelpfister7764 I hope you are right. And I've definitely overpaid for some records, but it is because I love the music. I'm not buying looking to sell what I get, I'm buying because I want to collect and enjoy!
@@TheCollectorCave Agree with you completely!
As a European vinyl collector who likes American bands and American labels my biggest bugbear is the shipping costs. For new releases it is very often is as much if not more than the price of the record itself. Then there is the stress of tracking the record and hoping it will not get lost, damaged and where and when it will be delivered. Pre-orders can be a nightmare too (No Means No, Wrong on Alternative Tentacles was a complete disaster and took an eternity) which takes out a lot of the fun of record collecting.
Makes total sense. We can't even ship outside the US because it's at least $25 to ship a single record. Simply not worth offering it.
Not only the shipping costs and delays but Customs and random extra taxes too. As a European collector I stopped buying from the US and UK long time ago. I tried to purchase a 7" record from a US seller priced 8 $. Total I'd have had to pay was 65!!!!!!! INSANE!
Hey GI it's goods to know that the music industry is made up of fine individuals like yourself and Dillon who truly are in it for the music and want to share that love of music with other lovers in the vinyl community...music truly is a gift that needs to be shared...God bless!! ❤
Appreciate you!
Nice video. I agree with almost all you said.
Nice t-shirt too!
As a vinyl lover since the early 90s I've seen a lot of ups and downs. The pandemic definitely brought in a huge influx of money and therefore prices skyrocketed. There's also a lot of factors and this is especially in the OG market. Europe and Asia are where a lot of the og presses went. In the early 2000s bulk buyers came in and bought up everything and sent it back. So for example OG jazz pressings that are not beat up are going for insane prices. Same with 90s alternative etc.
The reissue and variant market has really hurt the industry in a way. For example Tool Aenima. Fans have been drooling for an official reissue and nothing.
And then there's RSD I'm regards to the variants etc.
Great video.
Tree
Cool split screen
I went into a record store for the first time in a few years this past weekend. The prices are crazy compared to what I paid for records in the early 90's. Don't think I will be buying records except from thrift stores. I could care less about colored vinyl.
I look at flippers like we all used to look at ticket scalpers. Sleaze.
Good video with a lot of information. I agree. Vinyl buying has changed. Can’t stand flippers
Very interesting and helpful perspectives, thank you for sharing your thoughts on what Dillon shared. My only concern with the word flipper being mentioned, are how auction sights fit into this. WhatNot, eBay and even RUclips auctions are where albums go for more money than median discogs. I see many store owners selling albums through those channels at a very hefty profit from the uneducated buyers caught up in the auction hype.
For sure. The flipper culture really only exists because of those sites.
As for stores participating in such things, that gets tricky. I do multiple shows a week on Whatnot myself, and sure...sometimes an album will sell for way more than market value because of the competitive nature of the live auction - but that's obviously out of the seller's hands. It goes the opposite way as well, where an album sells for way under. It balances out a lot of times.
21:00 I remember chatting with Alannah Myles about this on her Facebook page a dozen years ago after she complained about getting stiffed by her record company and I said to her "Look, today records and CDs are a boutique product that the artists tend to distribute themselves, so if you have control over your catalogue then just reissue it. Apart from the cost of production there is no middleman so you make all the money." And that's exactly what she did.
I am seeing street markets in Europe literally inundated by second hand vinyls - that is definitely removing FOMO from the hobby…also wondering how long prices can stay elevated, I would not be surprised if prices of at least second hand to collapse soon (and I am already starting to see it in some markets)
GI - wise words on the inflation calculator. Way to take it one step further than just comparing price today and yesterday
Thanks. It seems very logical to me.
Yes, for me the bloom is off the rose. I have been collecting for 50 years. I have just under 4,000. In the nineties, I went to garage sales in Sarasota/Bradenton FL with lots of eagerness every Saturday and often before work on Fridays. Most of my collection; pennies on the dollar. Ho-hum. Probably will only listen to a fraction before I die. Mostly now just filling in gaps: Van Morrison, Hawkwind, etc. Really, down to about 5 or 6 a year. Yeah, it's pretty much done for me. And Eastern Tennessee sucks compared to south of Tampa, FL. "What kind of records you looking for, hippie?" "Oh stuff like The Beatles" (you really have to distill things down to the simplest terms in this area of the country). "Get off my property, you GD hippie!!!!"
I’ve been buying more CDs recently because it’s easier on the wallet. My days of looking through vinyl bins are kinda over. I’m more selective with my vinyl purchases and most of them are preorders.
I began collecting(hoarding) records since a child in the 1950's. I have 1,000's of records, CD's and R2R tapes. Into the '60's, 45's were $1. or less and LP's were $3.98(mono) or $4.98(stereo). In the 1970's, records were heavily discounted. Cut-outs were big. 45's could be bought for 4/$1. or even less. LP's were under $2. When an LP was released, it was often put on sale. I remember and bought newly released LP records for $2.50, sometimes even less.
Vinyl for making records still costs just pennies per LP. The higher costs are mainly in the labor to make records, starting at the recording studios. Mixing, mastering and the labor of pressing the records and packaging is where the money is. But, considering all that, some records still retail for $20. and out of the same pressing plant can retail for $40. That just doesn't make sense. Then, there are the clearance sales...............
Because of the demand for records, everybody and their dogs have gone into the record pressing business, and with absolutely no experience. They are also using old record presses dating back to being manufactured in the 1970's or before. Record quality hasn't been that great because of that. It has been getting better lately. I haven't had to return any of the last couple of UHQR's or Mofi One-Steps, like I have in the past. Prices are still ridiculous.
Im hoping the prices drop its gotten ridiculous started recollecting in 2011. Prices are bullshit here in Australia as you normally have to pay ridiculous shipping. I started growing my CD collection again. Not going to sell mine they're there to be handed down. I find it pretty hard to justify paying 70 bucks for a new release. But the good thing is if your in it for the long term and to listen to them then hopefully should see prices drop. Yet to see it yet here. Could of sold some recors and made some good money from some of them but not interested in making money
In NZ, stores are pricing up everything 20-30%, then put a few records on "sale" for last months price. Yea, no thanks. I got huge Wishlists in multiple websites but will not buy anything unless it is heavily discounted. Money is tight, could not care less about special editions and whatnot. I always stream it on iTunes before buying - Record has to be good end to end. I treat it as a luxury item, if item is new. I only treat it as a "hobby" for well used / dollar-bin items.
There are so many different types of collectors. For me, at least I enjoy and always will, but I started 4-5 years ago and have a little over 500 records. I am running out of must haves. So other than just going to a store and picking a random record that I am getting on lark, my buying has slowed down. There has been countless times when I am at a store flipping through records, and I do not buy anything. Because I remember there was record I bought recently that I want to listen to again.
We were charging outrageous prices and people were paying it. I used to buy big collections for a couple hundred dollars and then sell that collection for 10k. Man was that fun. We were having fun WOO HOO!🎉 Then they got tired of our greed and said, enough is enough and stopped buying. Now we are sad.😢 Too funny.😂
Ain't nobody stop buying, just the pretender collectors!
@@analoguecity3454 They made a lot off of money off of pretend collectors. That’s why they are sad that they dropped out of the market. Dealers took advantage of new buyers who became interested in the hobby. The new buyers quickly figured out they were getting screwed and dropped out.
Hopefully dealers learned a lesson that maybe they shouldn’t take advantage of new customers.
🤣 nailed it!
People always usually pay whatever price if they really want it, its been the same for the past decade or so! And will continue! I don't think the public will leave us to the mercy of streaming only! What a nightmare that'd be, changing albums to different versions of what they were and making the original unavailable! If that's the case(and I feel its not) , itd be a bleak future for young music lover's!
Maybe I am an oddball but I’m not into a lot of “the big artist”. Some, sure. So when I flip through Bins of Beatles, Led Zep, etc I just don’t get excited. I’m more excited for the smaller artist I like that I am dying to find a copy of a true hard to find record.
I have one more complaint. Certain record stores putting their stuff on Whatnot and baiting suckers to pay MORE than the record is worth. There is one store in particular that drives me nuts doing this. I won't name names but they are in AZ
I’ve been selling records since 2006 at shows and online. Other people besides physical store owners can sell records.
Did I say otherwise?
Record store day........ Remember when they said "Home taping is killing music" well making things limited and cost more just for profit is doing that now. Maybe they should print that on the inner sleeve.
Haha good one!
On the shelves behind you the shelf top right the very first record from the left looks like "Mystery to Me"
Very possible. Great album
Interesting. Price & perspective, in the 80s, you taped the record from your friend. So it was free as well. "Home taping is killing music". IMHO, your "perspective" point is a red herring. Price is price, and it is staying the same through history. Streaming is not getting you the physical item.
yup, and 90% of the general public that consumes music doesn't care about a physical item at all anymore. It's a relic.
And of that 10%, more and more are choosing the freemuim alternative these days, instead of paying higher prices.
Prices is not just price. The entire idea of streaming has drastically devalued music as a whole to the masses....which makes a $30++++ LP seem astronomical in comparison, especially to younger generations that never even witnessed LPs being sold for so much less back in the day. They can only compare to their currently available options, and most will always choose "FREE"
@NTXVinyl but it is not free say you 12 bucks a month and you listened to a few albums through that into the equation now times it by a year that is a lot of money to pay just to rent your music. You don't go own anything. When the money stops so does the music. Like some kind of slot machine. The music industry has it out for physical media plan and simple
@@frankgarcia9834 it can absolutely be free. RUclips, Pandora, and Spotify all have free levels with ads, that still allow for access to all the music in the world...FOR NOTHING
Flippers! Blue Note! Over-rating the vinyl grade. New problem in 2024 for me. Prices for the past couple years. CDs are looking good, but I suppose the prices will rise there.
Cassettes are where it's at for me. I can get good titles locally from 25 cents to 5 bucks. And I'm willing to shell up to $25 for hard to find 80's metal.
As an audiophile, I really have little use for vinyl. I got into collecting music before digital was a thing and vinyl was king. I have tons of music, between CDs, vinyl and files. Many I haven’t played for years. At some point, vinyl and CDs are just dust collectors. How much is enough? I am now very selective in what I buy. Very selective.
Sounds like 10 years ago a common problem that not every album one wanted was available either in print or used. Now with every artist reissuing that problem is pretty much gone but it’s come at a price, the fun has lessened and the market is saturated. I wonder what the vinyl audio market is doing. Now my mission is to find some good vintage speakers
I got into used records very heavily starting in 2019. What I've noticed is the quality for most used records just keeps going down in ALL Record Stores its pathetic. And im not talking just locally. I go to major cities same thing. But prices are getting higher & higher with questionable conditions. I just recently was gifted a nice collection of Mostly Country but some Rock to. The quality is incredible most Ex- NM. I'm considering selling some of my collection from the last few yrs and keeping this almost pristine collection. I don't sell online. Ive also noticed dealers will switch covers on say a Beatles LP the cover will be crap but the record will sometimes be very good condition or vice versa. Thats BS to.
Best of luck to independent record stores as the bubble bursts and prices and volume adjust. There will always be a niche market, but that physical media market percentage of 11-12 percent will dip back down.
Only the strong will survive. There were plenty of record stores pre-2020, there will be plenty afterwards. But next 1-2 years gonna be tough as it all comes back down to earth
I’m seeing kids skip the vinyl and buy CDs. Which makes sense because even in used shops you find them for a buck and they play fine.
I’m thinking that both you and Dillon being on both sides of the collecting might give you a different perspective. As a small collector approaching completion , I’m having the time of my life. It has become easier to find what you want , here in Sweden prices has dropped a liiiiiiiittle bit on new records , and used ones have stayed the same since 2016 , depending on rarity off course. New record stores opening up now and then. I have now 8 ones within a 15 minute car ride , and a further 4 if I double that time. And they are BOOMING ! Not just with old farts like me. No , lots of teens and 20’s too.
Awesome to hear! And yes...as store owners we absolutely have a unique/different perspective. Managing the fatigue and burn out of the job is a real thing, no different than any other.
Records in any major city have been overpriced for about 12-15 years. Surprised this is just being mentioned now.
In 1980 you could tape your friends lp for free.
Wow! You really hit a nerve here with me about how some record companies might want records to become a high-end collectors market. Wow. It seems like that's happening with everything, like you mentioned. I really see that with toys. The toys from the 80s that are making a comeback. Transformers. G. I. Joe. Low batches. Keep that FOMO rolling.
Yup. It’s a very common tactic.
@@NTXVinyl 2 years ago you had a video entitled, Is Inflation About to Sink the Vinyl Record Industry? Might be time to make a Part 2 update?
Past year or so it was the reissues, now folks are dumping OG’s.
When I was a young lad in the mid to late 60's the only way to listen to music was radio or you bought the vinyl of your favourite artists.
We would wait with a sense of anticipation for our favourite bands to drop a new album. I'd save up pocket money to buy a single and later the album.
We haunted the local record stores.
Fast forward to 1987 and I bought my last Vinyl which was Pink Floyds -"Momentary lapse of reason" That cost me $9.99
Today a new pressing will cost me a cool $60.00
Later we switched to CD's and then downloading & streaming today.
I still have my CD's and some of my vinyl - but all of my music is generally on my media PC. I still download albums and I no longer stream music, I want the artists to get a better share of their sales.
I think you are right, eventually it will become a niche collectors' hobby when it comes to vinyl.
Thanks for watching! And yes...I think it already is a niche hobby, and always will be. The last few years was a fluke unfortunately - it didn't have to be, but the powers at be would rather support streaming.
And 37 years later, Momentary Lapse of Reason is still sold, and at $60. Does it need to? No. It is sold over and over and over and over.
To be honest, I think noble records has a HUGE inferiority complex and seems like a spoiled kid. His habits are a direct consequence of the current mindset "it's not fun anymore and I don't want to play with my toys." Personally, I love the hobby of collecting AND listening to records. Don't make your full time job your hobby, case in point. Sure the vinyl industry is cooling off, but I'd say that it's the perfect time to become a collector again. Everything is on sale!
In my opinion, he's bored because he's somehow found the most obscure stuff out there on his want list and once attained, the boredom sets in. I think it's a thrill of the hunt thing but the thrill is gone.
I got myself a TT and tiny collection of 40 or so records back in 2000 or so. Lots of moves due to college and what not. Had to move my TT on way back then maybe 2003…? Kept my collection of records wanting to get a new TT eventually. Got one in 2019. And booommm things went insane!!! So disappointed in myself for not getting records I wanted over the years prior when I knew for a fact I was going to get a TT the whole time. Man hindsight, amirite? Anyway now in 2024 I have maybe …. Is it 125 records or so? Will top out at 250-300 max. Limited time and space. All killer for my tastes. But also cost. The records I really want would cost sooooooo much plus storage and would rarely listen to them. Dumb. Will enjoy my CD’s and Spotify for all the other stuff.
The inflation doesn't match up. Today one pay $80 to $100 a month to the internet provider, and $10 to $15 a month to Spotify. Sums we didn't pay for in 1980. It is not free. Not even RUclips is free, it is paid for by just being here - do you understand how many commercials that ran on this particular video while watching? (a whole bunch of commercials)
The vinyl industry sells more vinyl records than ever, and still doubles or triples the prices. What was it for the new David Gilmour album, the CD+a blu-ray (one CD and a Blu-ray) cost $80 here in Europe. THAT is ridiculous. Being a big PF fan, not so much an David Gilmour solo artist fan, I am NOT gonna buy that, for that price. A reissue of an Iron Maiden album, pressed in August 2024, Piece of Mind cost $39. Ridiculous price of an already produced album - and the quality sucks as well - warped vinyl and very noisy, probably because to save money on PVC pellets (not sure why the reasons) - but some pressing plants is better than others here. I am not buying as much as I used to - because all of this mentioned is annoying.
Huh I found the Gilmour blu-ray/CD "somewhere" so I can burn it to Blu-ray/CD myself fro the cost of the blank disc. As I have bought 9'000 LP's and CD's all in all in my life I have no qualms about that, i have decided that enough is enough. But I did get the Pink Floyd DSTOM sarcophagus edition for It's full price. I might get the vinyl edition of Gilmour's album, it's very nice, for my collection, but CD-Blu-ray no more for me. I do buy second-hand non- remastered CD's at yard-sales for cheap though.
If 100 people buy a vinyl record, of that 100, how many do you think have a sufficiently sophisticated (expensive) turntable in order to experience that record to its fullest? My point being, I would guess that a huge chunk of those buying vinyl records only do it because it's the "hip" thing to do. They can't hear what makes it great, they only know they got the "rare blue varient". The record industry is gauging these "hipsters" right now and will continue to do so until the bottom falls out of the vinyl record boon. If people want a physical copy of an album, they may have to go back to cd's, assuming cd's will still be around. Like this post, the music industry is just so cynical and won't change as long as there is an audience willing to be duped.
Just started collecting vinyl and I’ve really enjoyed your content. Btw, i’m in Irving, I need to come check out your stores. Any suggestion on which location to hit first?
Hey there! Appreciate you checking us out. Our Highland Village shop is likely closest, and it's got some pretty good inventory....but depends what you're into - because we don't carry every genre.
Fella, that was a fascinating video... Really enjoyed listening to what you said...
Glad you enjoyed it
that's what happens if you choose to turn your passion into a business, it will wear on you. it's like selling your soul
Welcome to getting older friend.
age is only a number! 😂
I watched Dylan’s video yesterday and had to agree with most of what he said. I have lately felt it’s too expensive and wasteful. I find myself thinking about going out or going online to buy something new every day and never getting around to listening to what I have. Addiction for sure. Even watching VC videos are getting kinda boring and same same.
hahah i feel ya. exactly why I haven't focused a ton on new video content recently. The topic is burnt out for many I believe.
From a collectors perspective this is exactly what happened to sports cards in the early nineties. We can expect that everything released in the last few years will be worthless in the future. The vintage will hold it’s own. The collectors market will survive though. What saved it in sports cards came about a decade later when they introduced autographs and memorabilia as chase cards in packs. Possibly hiding similar things in the packaging would spike collector demand in vinyl. Sports cards are going through a crisis right now where the dealers are using MRI machines to see into the packaging though.
I haven’t bought a single record for 6 months, neither have my friends. We download DSD, or get SACD or stream. People tried to milk every dollar out of buyers. It’s frustrating because people with zero knowledge will slap a $200 price tag on an album they’ve never heard, don’t know the desirability, don’t know the subculture, but Discogs shows it’s worth it supposedly. If there ain’t $1 records and good finds why would I over pay?
From what I’m seeing in Austin is the used market is drying up. Even the Austin Record Convention, for me, hasn’t had the availability of records that it had pre-pandemic. Also used prices are higher and the records are lower grade. I’ve been buying more new records by new artists but I’m also selective because prices are higher. I’ll stream a record first before making a purchase. I’m also selling off parts of my collection on Marketplace.
The used market is constantly fluctuating. Always. That said...I'm pretty optimistic for the next few years as people decide they aren't in it for the long haul. Like Dillon and I both mentioned, collections are coming in....frequently. But a lotta newer reissues for now.
Great video!
Nice 6 eye shirt GI!
thanks! It was a special tee we created for our Now Spinning group on Facebook. facebook.com/groups/ntxnowspinning
If the record store owner is a collector, it's unfair to compare he/she to a long time "collector". Nobody wants or needs some trend followers shitty reissues of commons. On the other hand, serious collectors will drool over "audiophile" records from AP, Speakers Corner, Mofi, etc. 35+ years into it, it's not always life changing, but always fun. Visit a shop and find one or ten records, it's a good time, or stop pretending.
Inflation is 100% real because a stream is not a product. Inflation is based on consumer products. Also there's alot of gaslighting on YT with unqualified people decreeing what pressing is "best". It happened recently with the Rhino HiFi Marquee Moon and Black Sabbath. I sat back and laughed. I said to myself, "They've never heard a German O.G. Marquee Moon"
Probably because they can't afford an og German
I am a 60's to late 80's rock music listener/collector, and have been for 50+ years, so all this variant stuff, re-releasing an artist back catalogue doesn't interest me. I am happy with my 1960, 70 or 80 pressings, they still sound good on my late 70's Yamaha receiver, turntable and speakers. And, the increase cost of used/new vinyl has actually had a positive impact, because I started researching, listening to and collecting the obscure rock artists of 60's to late 80's. There is some really good classic rock music by these artist and their records can be purchased in the $10 to $15 dollar range.
I am 70 years old I have been flipping records since I was 16 because back in the day all issues were limited to what the labels thought they could sell so when I went to the record store I bought one for me and 3 to resell at twice the price or more when they went out of print and before the reissue came out. It helped pay for my record collection. I still do it to day if there is a limited # of issues on 180 grams. You can bet I will buy at least 20% of them and wait. It only works out about 85% of the time. I have sealed records that will never sell. Bottom line I don't care if you like it or not, If you don't want to pay the out of print price - get off you but and buy a copy when it comes out!
congrats!? 😁
If you want to scare off the flippers, stop selling the rarer colour variations as is. Have them randomly inserted in the overall print run. The flippers are not going to open up 20 or more copies to find one.
Great video but there are 2 sides.
I have been collecting for 5 decades. The first 15 I was a record buyer for National record chains. One side is the music and the other is a fad and a hustle full of cash grabs.
However like the 70s everything sold . Now with quality at a higher level. Many Jazz and Classic rock is being released. I can honestly say I have never bought a used album. After 4 decades vinyl has resurfaced and it's a great time to purchase music.
I totally agree from that perspective. Whether it's sustainable or not is the real question. (e.g. see recent Vinyl Me, Please news)
This is kind of related to what you're talking about here but what are your thoughts in general about the MSRP of new records? because I've found that the MSRP depends on where you're buying wholesale from. Not all distributors or labels have the same MSRP for the same record.
True MSRP mostly pertains to new albums and releases, in the short term. After months (or longer)...you're right, because an album could have been over pressed and is now being liquidated to secondary "overstock distributors" - that are able to price it much lower. Up to the store if they want to stay true to the original MSRP (which was established for the original released date) or adjust based on what they actually paid.
Some stores also get albums cheaper because they buy in larger bulk, direct from the label - versus a one-stop distributor.
Discogs will have a lot of price adjustments to make soon. Some of those median prices are now way too high. I sold a vinyl for $750 in 2021. I doubt i could get $200 now
Discogs doesn't establish any prices. Their data of "value" is driven by actual sales. So the only way those "adjustments" take place is if people only buy for less.
But that's what I mean - with nobody buying high-ticket vinyl, like before - these prices are gonna be wrong for a long time. It's at the point now, I look at discogs and just charge half of median. The median priced items are way off. 2 years ago, everything was exact. I'm glad i got rid of my high-ticket stuff, before the bubble burst. Right now, I've got an album listed for 180, the median is $700, and it's just sitting there, mint sealed
@@dawnpatrol700 yup....it's a result of the massive spike. Will take another 2-3 years to balance back out I'd guess. Long road back down hill to reality.
The more you buy…. The less you need. Also after you track down hard to find records from your past, you run out of things to buy.
I also think it is the music industry at large. They have invested so much into streaming and having you rent your music. They are trying to kill all physical media.
I don't disagree on some levels.
Good luck selling that Urban Outfitters discounted vinyl from 2020 for over 300 USD in 2024, waiting for that 1 desperate buyer to take the bait.
I sort of disagree with the shoe analogy when it comes to how majors are valuing vinyl because, with shoes, the Nike brand will still benefit from all the hype surrounding a new release even if they only make 500 and the majority of profits are made by the resellers. At the end of the day, it still equates Nike with "desirable" so then they can mark ALL their shoe prices up because people want Nike's. However, I really don't think there's anyone going "man! I have to buy every Warner's release!"? The vinyl market is much more artist driven, which is why I think the majors haven't figured out any sustainable model for it (they're certainly not building new plants!) and are just trying to cash in on a trend until the trend wanes. They'd much, much prefer people bought Spotify and Apple Music subscriptions than a 30th anniversary repress because the record is only money to them once. Subscription money is consistent.
OK a flipper is a person that will buy anything underpriced and flip it for as much as possible or its true value .I've been a Flipper for over 30 years . This means wholesale ,garage sale ,fire sale. Selling new retail is'nt flipping. Those guys You are speaking of are called scumbags not flippers. Supply and Demand isnt under your control,so dont try.Just think of a flipper as a used car salesmen,not retail cars.When You buy a used collection , You are buying it used not wholesale ,therefore You are also flipping.
We will agree to disagree.
Wholesale can be new items or used. It comes down to quantity.
Good riddance get all the fair weather collectors out of the picture
2020 to 2023 was the worst
Going to my local record shops now is a joy like it use to be I'm finding really good original pressings for fair prices
Let that bubble burst
As the economy continues to get worse, and soon may really get worse, the need for an inconvenient hobby will die. Just like my auto restoration business, customers are willing to pay up to a certain threshold, after that, they find something else to do. A record is still just a piece of plastic, you can’t eat it. There’s slim chance you’ll get return on your investment, a buyer will always say, what am I willing to pay for a product that has a limit to how it serves my overall day to day life.
Just like fishing or skiing or competitive jump roping, record collecting will always attract a niche market, the overall masses listening to music will just use streaming platforms because the masses have a tik tok attention span
Agreed, this hobby is, and will always be, a very niche market.
The same sort of greed rears its ugly head with the coin hobby as well. The U.S. Mint will produce annual coin sets or low-mintage commemorative coins only for the big-time coin dealers to buy them in bulk to sell at huge profits to collectors who lost out in the buying frenzy on the first day of issue on the Mint’s website.
I just don't understand the economics that suggests prices for vinyl will fall. Don't most people realize that streaming isn't the same as ownership? Potentially most people are one internet glitch away from having no music at all.
Is flipping only bad when it comes to new records? Is it not considered flipping when someone pays $5 for a used record and sells it for $25 if not more?
The top item on my wantlist originally sold for $50 in 2019 and now it can’t be purchased for less than $500. Is that flipping ok because it’s been a few years?
The flippers are bad argument is confusing to me.
In my mind "flipping" really pertains to people that buy at MSRP, and IMMEDIATELY turn around and try to sell for WAY above MSRP. If several years have passed that's simple the case of market fluctuation and supply/demand.
But....there are certainly cases where I'm sure people sit on extra copies for a long time and then sell after the value has gone up.
All part of the hobby (and nearly every hobby that deals with anything remotely collectible)
if you buy a record for $2 with the intent on selling it for $4, you've essentially flipped the record.
@@temporoboto you described every retail store in existence. A business can't exist unless it profits, you do that by buying cheap, in bulk, at a wholesale price per item. Then you do the work to get each item ready to sell (grading, cleaning, sleeving, pricing). You then charge what you have to in order to recoup your time and costs, in hopes of then making profit on top of that.
Flippers buy singular, or small amounts, of items at full retail MSRP, then they typically turnaround immediately and resell them at a drastic price increase from the original price.
What is the market for used CLASSICAL records like? I would imagine that is even more niche than Albums in general.
I don't deal with them much at all. To my knowledge there are a handful of labels that are collectible, but for the most part classical LPs aren't very sought after by most. Very niche indeed.
@@NTXVinyl Thank you for taking the time to respond. Good luck with your store and your RUclips channel.
The main drawback of classical collectors, is how unforgiving they are with condition, the slightest dust speck will always spook them, followed by the inevitable pouty look, as they creep out of the shop
I stop buying vinyl , and the hype is not real . I going back to cd