Nature abhors a vacuum and whenever a market moves to an extreme end of the bell curve, there is generally a reaction to fill the void. In the case of collectible LPs, the market begins to embrace non first pressings that have many of the characteristics of their pricier cousins. My experience is that Mint or Near Mint 2nd pressings sound better than mediocre condition first pressings. In fact the sonic quality of a 2nd pressing is often indistinguishable from the sonic quality of a first pressing, given equal condition. If the 2nd pressing costs less, then the decision is easier for many. Prestige NY vs NJ, Impulse. Blue Note. Clef-Norgran-Verve. Riverside white vs blue label and so on. There are exceptions. For Blue Note my argument is supportable when examining Lexington vs 47th st and into NY pressings. My argument can be challenged when moving through the Liberty era. Early Liberty is essentially late NY with Liberty labels. However there is an almost precipitous decline in quality when moving from Liberty RVG pressings to other remasters, and west coast sourced pressings.

Market extremes also bring emotion into the decision making process. When a buyer is priced out of the higher end of the market, they look for alternative ways to participate, partly due to “trendy” pressure, partly in an attempt to buy something “undervalued”. In automobiles, for a long time prices for the Ferrari 250GTE and early Ferrari 308 models lagged other models. Both could be purchased for less than $30k as recently as 10yrs ago. As the market for more desirable models took off, many were priced out. Then attention began to turn to the “bargains”….prices for the 2 models listed above now start in the low 6 figures…. We are seeing the same phenomena in LPs. As buyers are priced out of 4 figure markets, they turn to the 2 and 3 figure markets so they can participate. $20 Liberty and NJ Prestige pressings become $50-$100, when 1st pressing Blue Notes and NY Prestige pressings are $500+.

My wife and I moved into a new house about 1yr ago. I moved my record collection (about 2k LPs) and associated equipment. I took the time to go through every LP and segregate, alphabetize etc. I re-discovered several LPs that I had forgotten about, and I began to think about the value of my collection. In going through everything, I was forced to realize how many valuable LPs I had. On the one hand I am happy that what I have purchased over the years has appreciated in value, on the other hand, I realize that I would be unable to replace this collection given current price points. I am contemplating an insurance policy for my collection.

I don’t think prices will come down in the future. In fact I expect prices to continue to rise. Collecting LPs is now an “acceptable” pursuit. 5yrs ago, I was viewed as a Luddite for continuing to own LPs, now people start conversations with me because they heard I have a “record collection”. I have been asked to recommend “valuable” or “collectible” records for a casual buyer to look for. Many of the hipsters and millenials will eventually leave the market, but there will be a substantial number of them who will become collectors (as we know the term). New overseas buyers will continue to enter the market due to improved standards of living, and sustained creation of substantial new wealth. For many outside of the “West” acquisition of classic LPs is a status symbol….many purchase, immediately rip to digital, then display the LP on the wall like art. And then there is the rest of us….consigned to chasing our holy grails.

This is because of the impact of digital sound quality. As new and increasingly better technologies are introduced (like MQA, DSS etc.) the tendency is to introduce these improvements by reissuing the “top 100” jazz records which includes many of the same LP’s which are most valued in vinyl and where even first vs. second pressing are an issue. This is naturally so because this gives the new technology the chance to sell the most for the least cost.

This means of course that all of the “second tier” stuff (which mostly never had anything beyond a first pressing) does not enjoy the same benefits of technology improvements that the most collected jazz repertoire enjoys. Of course the vinyl issues of this stuff do not suffer the same digital assaults.

P.S. Before anyone accuses me of being a “digital troll” I should disclose that I have some 1700 jazz LP’s 5, many of which are first issues and an analogue system that I would match against anyone else out there but I also stream Tidal high res through a Musicvault server and a PSAudio Directstream DAC.

I do have to agree with you on a lot of the things you point out. This of course is not an issue just with jazz but with a lot of other genres. Northern Soul Anyone ? 60’s Garage/Punk ? Psych ? UK Classical Pressings ? etc etc etc…..

Sorry to Al and all the other Jazz readers of this great and informative site mentioning other interests.

The records are very nice to have, but I think that if you are really “only in it for the music”, then surely the reissue or the CD will suffice. While I appreciate that certain records are only available in their original guise, this is certainly not true for just about any Blue Note / Prestige / Riverside / whatever.

Most original, first-press records (in many genres, not just jazz) certainly are trophies these days IMO. Sad, maybe, but true. I have a few nice jazz and classical LPs, and I wouldn’t be without them, but if someone wanted to pay me silly money for them, then so be it.

What we are talking about here is “COLLECTING” not listening and finding new music. You can listen to Saxophone Colossus almost for free online and the CD is dirt cheap and IMO sound good enough to enjoy the masterpiece!

Sorry for ranting you know and we all know this ofcourse. I collect too (why would I else be here), and it’s fun to find those early pressings, but I also love the convenience of having the music at my fingertips. Anyone agree?

“And Elisha died, and they buried him. Now the bands of the Moabites used to invade the land at the coming in of the year.”

I write as one with a modest collection of Jazz Albums looking to connect with the serious collector community. It is my hope that I can get a short list of those who actively seek vinyl from the major instrumentalists and vocalists. Much thanks for your attention as I await a reply.