The vinyl resurgence is showing no signs of slowing and even Technics is making turntables again, recently announcing the debut of the high-end SP-10r, the most premium turntable ever produced in the brand’s history.
Global LP record sales soared to a 25-year high in 2016 after 10 years of consistent growth, while earlier this year Sony Music Entertainment announced that it will revive production of new vinyl records by March 2018, almost 30 years after operations were shut down by the CD revolution.
The vinyl revival brings with it some significant money-making opportunities for music lovers. Here are three ways you could be cashing in on the comeback:
Sell that stash of LPs
If you or your parents were listening to music any time before 1990, chances are there’s a pile of LP records gathering dust somewhere in your home or garage.
Online record traders and store owners are often looking to buy vinyl in bulk, but before you approach one of them, try and ascertain the value of your collection so you know what to ask for. Genres like rock, jazz, funk and blues will fetch a higher price than pop, classical or swing, and records from cult artists tend to fetch more than mainstream acts because they’re harder to come by.
First prize is a first pressed edition of a relatively rare record, where both the disc and the sleeve are in near perfect condition. A 1971 release of Rodriguez’s ‘Coming From Reality’ is currently on Gumtree at an asking price of R2 100.
Trade in your turntable
If you’re not planning to get your old record player spinning again, you can sell it to the new generation of audiophiles. Second-hand turntables in working order sell for around R2 000 on Gumtree. If yours has sustained some damage and you don’t plan on getting it fixed, there are several traders online who will happily buy it for the parts.
Start your own business
The vinyl resurgence has brought many old or broken turntables out of retirement, creating opportunity for specialist restoration skills. Cape Town-based Jacques Passier, owner of Turntable Guy turned his hobby of many years into a successful business after he noticed the growing demand for his skills around 2010.
“I’ve always repaired my own turntables, and then friends started asking me to fix theirs,” he says. “Word spread and now I run Turntable Guy full time, offering servicing and repairs, and selling new and second-hand turntables, amplifiers and speakers.”
A quick search on Gumtree reveals a vibrant second hand vinyl trade, from repairs, to record swopping to turntable trading. Make sure you get your rands and cents from the comeback of the ones and twos.
