Selling LPs,any tips?

[Braunschlag]

I have a modest collection of LPs which I shall soon be disposing of. My turntable days, enjoyable as they have been, are over and the sheer faff and effort required is becoming a chore.
There are only about 300 of them, broad range from
Classical,Jazz,Film,Rock etc but they are nearly all in mint condition so donation to charity is not something I wish to do. Plenty of SXL/ASD sorts of things and even a complete first pressing of Soltis Ring with all the literature.
Has anyone disposed of a modest collection via dealers/traders? I'm realistic and don't expect to make a lottery busting amount.

[richardfinegold]

I have a modest collection of LPs which I shall soon be disposing of. My turntable days, enjoyable as they have been, are over and the sheer faff and effort required is becoming a chore.
There are only about 300 of them, broad range from
Classical,Jazz,Film,Rock etc but they are nearly all in mint condition so donation to charity is not something I wish to do. Plenty of SXL/ASD sorts of things and even a complete first pressing of Soltis Ring with all the literature.
Has anyone disposed of a modest collection via dealers/traders? I'm realistic and don't expect to make a lottery busting amount.

Yes, my primary tip is that I hope you weren't counting on the revenue to fund your retirement. I recently disposed of lps and quickly discovered that I was better off donating them to a resale charity and taking the tax deduction. A lot less hassle going that route as well.

[Cockney Sparrow]

On this side of the pond there is no tax relief for donating goods to charity. If you pay tax, some ***charity shops use a scheme to enhance the eventual sale value by 25% as a recovery of the tax the donor paid in the tax year. The donor has an i.d. and all their gifted items are barcoded through to the point of sale.

This enhancement of donations - "gift aid" is more used on monetary donations but if one is too generous, and the total of the gift aided 25%'s exceed the tax paid on income during the year, then unlikely as it seems, the Revenue can demand that excess be paid back to them.

So if my mega CD collection went to the Oxfam bookshop (they use the Amazon app to price CD's at the same price less the Amazon delivery charge) and I had been generous in monetary donations, I might have to shell out and pay the 25% on the CD sale price. In my case this wouldn't happen, as I don't have to sign up to the scheme but it could be a trap for the unwary....

***(Oxfam book (and CD/vinyl) shops - other charity shops are usually general goods including CDs)

[Pianorak]

umslopogaas of this parish is the man to consult on values of LPs such as SXL etc. Let's hope he comes across this, or you could pm him?

[jpegasus]

Take care, Braunschlag, if you were acquiring SXL and ASD (and SAX?) at the same time as that Solti Ring you may have some gems, particularly if the performers are right.

[Braunschlag]

Take care, Braunschlag, if you were acquiring SXL and ASD (and SAX?) at the same time as that Solti Ring you may have some gems, particularly if the performers are right.

Thanks. I did realise that some of them do have some value and are sought after. Time is not of the essence so I can leisurely pursue a few different avenues.

[mathias broucek]

I investigated this when thinning my collection after a house move

Concluded it was too hard and went down the charity shop plus tax deduction route

[Pianorak]

I investigated this when thinning my collection after a house move

Concluded it was too hard and went down the charity shop plus tax deduction route

How does this Tax Deduction route work? I've never heard of that.

[vinteuil]

How does this Tax Deduction route work? I've never heard of that.

.

https://www.gov.uk/donating-to-charity/gift-aid

.

http://www.oxfam.org.uk/donate/gift-aid-explained?pscid=ps_ggl_gr_DSA+-+Whole+Site&gclid=CjwKCAjwoNrMBRB4EiwA_ODYv5Mj3-dwlrfwPSwHpYm0-kk9i3w6TTL6jHRyj-_7mDE6-6bgh01qUhoCx6MQAvD_BwE&gclsrc=aw.ds&dclid=CMmPv_mC4dUCFWyjUQodM14DWA

.

[Pianorak]

.

https://www.gov.uk/donating-to-charity/gift-aid

.

http://www.oxfam.org.uk/donate/gift-aid-explained?pscid=ps_ggl_gr_DSA+-+Whole+Site&gclid=CjwKCAjwoNrMBRB4EiwA_ODYv5Mj3-dwlrfwPSwHpYm0-kk9i3w6TTL6jHRyj-_7mDE6-6bgh01qUhoCx6MQAvD_BwE&gclsrc=aw.ds&dclid=CMmPv_mC4dUCFWyjUQodM14DWA

.

Thanks, vinteuil. Didn't realise it was the Gift Aid scheme which I thought applied only to money.

[Old Grumpy]

On this side of the pond there is no tax relief for donating goods to charity. If you pay tax, some ***charity shops use a scheme to enhance the eventual sale value by 25% as a recovery of the tax the donor paid in the tax year. The donor has an i.d. and all their gifted items are barcoded through to the point of sale.

This enhancement of donations - "gift aid" is more used on monetary donations but if one is too generous, and the total of the gift aided 25%'s exceed the tax paid on income during the year, then unlikely as it seems, the Revenue can demand that excess be paid back to them.

So if my mega CD collection went to the Oxfam bookshop (they use the Amazon app to price CD's at the same price less the Amazon delivery charge) and I had been generous in monetary donations, I might have to shell out and pay the 25% on the CD sale price. In my case this wouldn't happen, as I don't have to sign up to the scheme but it could be a trap for the unwary....

***(Oxfam book (and CD/vinyl) shops - other charity shops are usually general goods including CDs)

Although, a higher rate tax payer would be able to reclaim the extra tax above basic rate for themselves, would they not?

OG

[Pulcinella]

This month's Gramophone classifieds mention, as well as Classical Music Exchange at Notting Hill Gate, UK Classical Archives, Watson Records, and Revolutions.
PM me if you would like their email addresses and/or telephone numbers; only revolutions seems to have a web site.

[Cockney Sparrow]

Although, a higher rate tax payer would be able to reclaim the extra tax above basic rate for themselves, would they not?

OG

I've not used the gift aid donation scheme, I occasionally buy CDs (and more often, books) from Oxfam book shops. At their prices, I don't take a chance on the CD - I research using my mobile in the shop if I am in any doubt that its worth buying (I could always pay the extra £1.26 for delivery from Amazon if I really want a particular recording. )

But it seems this system is under their " Tag a Bag" scheme. They have a system to track the donor/donation - using barcodes on each item - so that the sale price is collected to recover the tax. But there is no suggestion that they collect or deliver that information to the donor. Accordingly, the donor does not know the sale price of his donations and cannot enter it on the tax return.

http://www.oxfam.org.uk/donate/donate-goods/gift-aid-your-goods

(Maybe there are not that many higher rate tax payers delivering goods to them, or Oxfam think they wouldn't want the bother of adding the info into their tax returns?)

Unless a higher rate tax payer can correct this, perhaps we should end the discussion of the Oxfam/OTher charities Gift Aid system here - I'm feeling guilty - I'm not sure Richard F has received that much advice on selling vinyl so far.

[Old Grumpy]

May well not be many higher rate taxpayers on these boards either!

[richardfinegold]

I've not used the gift aid donation scheme, I occasionally buy CDs (and more often, books) from Oxfam book shops. At their prices, I don't take a chance on the CD - I research using my mobile in the shop if I am in any doubt that its worth buying (I could always pay the extra £1.26 for delivery from Amazon if I really want a particular recording. )

But it seems this system is under their " Tag a Bag" scheme. They have a system to track the donor/donation - using barcodes on each item - so that the sale price is collected to recover the tax. But there is no suggestion that they collect or deliver that information to the donor. Accordingly, the donor does not know the sale price of his donations and cannot enter it on the tax return.

http://www.oxfam.org.uk/donate/donate-goods/gift-aid-your-goods

(Maybe there are not that many higher rate tax payers delivering goods to them, or Oxfam think they wouldn't want the bother of adding the info into their tax returns?)

Unless a higher rate tax payer can correct this, perhaps we should end the discussion of the Oxfam/OTher charities Gift Aid system here - I'm feeling guilty - I'm not sure Richard F has received that much advice on selling vinyl so far.

It's less complicated over here. One loads their lps into a bin and drives to a Goodwill Shop (charity consignment stores located throughout the U.S.). A bored teenager meets you at a loading dock and assists with carrying them from the car trunk. He asks what you think the haul is worth. You mention a figure, he writes it on a receipt and signs it, a,d the donor signs as well. The receipts are saved until tax time and then used to calculate a deduction. Donors are never notified if their item was resold.
I always tried to be reasonably accurate with my estimates, between $1-$2 per lp. At one point I had hauled a bunch to a second hand lp store and the owner made me a ludicrously low offer, 25 cents/record, and I donated the same batch and used the estimate above.
I did try to sell a few thought I thought might have more value on eBay but it was a hassle for multiple reasons and not worth the result. Goodwill is much easier and yes, I still work and can use every tax deduction available