Are Vinyl Records Resellable?
Vinyl records. They’re sitting in your parents’ basement because they were all the rage a few decades ago before we had streaming services and modern technology.
The real question is, how can you make money from vinyl records? Or more like can you make money from vinyl records? The answer: yes, you can.
Before you go raiding your parents’ basement and pulling out old Prince vinyl albums to try and resell, you have to understand that’s not the way to go.
What we’re talking about reselling here are newly released vinyl records instead of old ones.
The vinyl aftermarket isn’t like the sneaker aftermarket. Older products don’t really hold value the same way as brand new products immediately do. Some do, but for the most part, it’s difficult to find older vinyl to resell compared to newer vinyl that is immediately worth money because of a few different factors.
What are these determining factors? I’ve listed a few factors that determine the resell value of vinyl but if you really wanted to know more specific then you’re going to need to join Juiced IO. It’s a community of resellers that receive detailed information about how to buy and sell products for a profit.
Quantity
The quantity in which vinyl is released is a huge factor in how much it’ll resell for. If it’s readily available then you can expect resell value to dip significantly.
If it’s not easy to obtain because it’s so scarce then you can expect aftermarket value to rise significantly.
It’s simple economics. Less supply means more opportunity for market value to rise even with less demand.
Demand
Both supply and demand play a huge role in the aftermarket prices of an item.
Yes, supply is a huge factor but so is demand. If no one is willing to pay your prices for an item then your prices will have to be lowered to meet demand and you’ll lose money.
Supply and demand play a crucial role in reselling vinyl or any other product.
Before investing in any vinyl to resell it, make sure you check the demand for the item. You can get a feel of it before you buy it by checking the recently sold amounts of the item you’re looking at selling.
Luck
A little luck goes a long way. Maybe the vinyl you’re looking at buying looks cool and the actual album is in a cool color?
Small things like that are considered lucky because they won’t definitely make the item more valuable but there’s a chance.
Be on the lookout for small details about specific artists and albums that might make them stick out more than the rest. When you add a little bit of luck to a limited supply and a large demand for a product, you get a resealable vinyl that will sell quickly and for a great profit on the aftermarket.
Looking to start reselling? Sign up now at https://juicedio.com
