NEW YORK (CBSNewYork) — On Sunday night, millions of people watched some of the best artists in the world honored on the Grammy Awards.
Their records might even be worth a fortune someday.
But music lovers might already have a treasure trove of valuable vinyl stashed on shelves or in boxes, CBS2’s Dick Brennan reported.
Record stores are seeing a lot more action these days. Vinyl sales reached nearly a quarter billion dollars last year.
But certain collectors have an eye out for the rarity, valuable albums re- discovered for resale, like a 1963 Bob Dylan, recorded with four unreleased tracks.
“There’s only two known copies and I’m the proud owner of the first one. They insured it for $100,000. I’ve been offered as high as $80,000 for it, but I value it more than that,” said David Eckstrom, owner of the Forever Young Store.
It’s an extreme example, but there’s more 12-inch treasure out there.
But there’s a catch.
“Every little scratch, every little ding, oh what? You wrote your name on that album? It’s worthless,” collector Louis Monte said.
So how do you figure out what your collection is worth? Popsike values records over $10, and there are experts like John Jabra, owner of 21st Century Music and Collectibles.
“It depends on the pressing, the condition, who took care of the record,” Jabra said.
And if everything’s in the groove, you might be spinning some real cash. Jabra found an Elvis Presley 78 Sun recording in a private home.
“If they used a bad needle it would have all white residue in the wax,” Jabra said.
Value here is about $700.
The Beatles have millions of records in print, but only a few are worth the big bucks.
“This is the Butcher cover,” Jabra said.
It was originally recalled by Capital Records execs, this is one of the few that are out there and worth about $2,500. Another Beatles album many might still have, the White Album. Here’s how to know if yours is valuable:
“It’s the numbers. I have a very rare promotional copy with a low number,” Jabra said.
Adding to the value, original photos and posters in mint condition. Brennan saw one worth about $2,000.
And talk about rare, a certain Abbey Road gold record is valued at $2,800.
Ever buy a record featuring your favorite TV show? The Jetsons, Star Trek, The Munsters, all in the $25 range.
“Mickey Mantle made a record and Muhammad Ali before he was Muhammad Ali, Cassius Clay,” Jabra said.
About $125 each.
There’s lots of value in some jazz recordings, too. Look for the first pressings with a deep groove around the label.
“This record in mint condition is $2,200,” Jabra said.
And finally, signatures can bring big bucks, even for the 1960s pop group The Monkees, around $450.
The rest of us who have no-signature discs, $5.
Also, 45s can also be worth some serious cash. Experts say indie labels and songs unreleased on albums could have some real value.