Peabody Hermitage

[eargasm!]

ANybody else notice that this sold on February 21st?
http://www.ebay.com/itm/351294682946?_trksid=p2060778.m1438.l2649&ssPageName=STRK:MEBIDX:IT

 

[Frantic]

ANybody else notice that this sold on February 21st?
http://www.ebay.com/itm/351294682946?_trksid=p2060778.m1438.l2649&ssPageName=STRK:MEBIDX:IT

WOW....INSANE! I talked to the label owner about 5 years ago and he said all of the tapes and records etc, he had were down in Florida with his daughter. I wonder if this came from that batch?

 

[ontheroadsouth]

Hot damn, thats a big selling price!

 

[bosshoss]

I never thought it would sell. I wonder if it really, truly did sell for that price. Me doubts.

 

[MopTopMike]

There are only a scant few 45s that would / should fetch 5K if one comes up for sale. This is one of them.
The next copy to appear would be difficult to sell for the same price in the same condition. Unless another does not come along for another 5-10 years.
My guess is that it sold for 5K as a best offer. It had been relisted from 8K to 7K or best offer. I know a 4K offer was refused.

 

[bosshoss]

The sale of Peter Bliek's collection (and the general state of the economy and the exchange rate) has made it hard or impossible for me to consider spending $5k on any record. But I would have considered that price for the P.H.
Another factor is the relatively short time that it has been on the radar. That made me nervous for spending big on it, due to the increased possibility of more coming to light now that everyone knows it has a very high value. We've seen this time and time again over the years.

I've changed my collecting style lately. Now I'm actively going after the cheap end, and I'll let the expensive ones come to me, haha!

 

[Toddophonic]

I believe it did sell for the asking price of $7K to someone I know who has a very good job. Of course it is someone's own business what they spend on records in general or for a specific record...and it is likely almost everyone on this forum has inadvertently or knowingly overpaid for records at one point or another for various reasons. But the thing that bums me out a bit about these type of deals is that it creates artificially high values.

 

[bosshoss]

But the thing that bums me out a bit about these type of deals is that it creates artificially high values.

Yes, but only for the first 4 or 5 copies that come up for sale. After that, the values drop back to earth like a stone. Then they usually float back up to a realistic level. Witness the Savoys on Orlyn, or Just Us on Shazam.

 

[jerry dickens]

There are 2 types of collectors: those who have at one time or another, overpaid for an item; and liars.

Personally, the regrets I harbour for paying too much for a record are far outweighed by the much more potent pain of not buying records I which, at the time, I considered to be overpriced due to the possibility that a few boxes were lurking undeclared somewhere, just waiting to be sprung on unsuspecting dupes - like me. In the pre-social media days this was a serious risk.

As Bosshoss intimates in the previous post, take a long term view. Unless it's more than 25 copies, a sudden 'quantity' find will only deflate prices for a relatively short period. Then, with demand and the appearance of new collectors, the price will probably rise again. It may take 20 years but, if you are not too long in the tooth and you are in it for the long haul, the wait is well worthwhile.