Was told by a local collector at the weekend that Banks are now prepared to loan on LP collections at a rate of $4.00 per LP.  Anyone else aware of this ?

With LPs as collateral or loans to buy LPs ?

Sorry that was LP's as collateral, would be a laugh watching them lug them down the stairs when they decided to repo them !

Banks are desperate to lend you money!

I have a bunch of crappy old 78's...

$4/LP is peanuts unless you have a huge collection 10k+

interest rates probably still high for this high risk lending

I believe nothing that people who boast about their large record collections tell me...

"Oh my collection is worth at least 60K"
Two years later the same collection has miraculously jumped up to 75K... and another 3 years later it's worth 'well North of 100K'.

But when you ask to see it, apparently it's always kept in storage.

People like talking things up.

So if I buy all those Kamahl LPs for 50 cents each, I can use them to borrow $4 per lp and then get them repossessed?

that's one way to get them out of circulation !

are harry secombe, nana mouskouri, neil diamond records worth more or less ?

The value of any collection is only what someone is prepared to pay for it. Yes $4/LP is low but try offering any seriously large record collection to Real Groovy or Penny lane and you are lucky to get offered $1/LP so it might not actually be a bad way to quit a large collection unless you are prepared to sell it off piecemeal.

Dec 16, 2020 13:01:45 GMT 12 Citroen said:

So if I buy all those Kamahl LPs for 50 cents each, I can use them to borrow $4 per lp and then get them repossessed?

Maybe now's as good a time as any to confess that... I saw Kamahl live once

DarkLantern blog - darklanternforowen.wordpress.com

So that was you with the long hair and flares dancing in front of the speaker stack ?

Nah it was as an adolescent, visiting my Sis, at a Sydney League Club in the 80s.

DarkLantern blog - darklanternforowen.wordpress.com