Another Day, Another Price Barrier To Break

I was sitting at work yesterday, taking a little break and browsing on eBay, when my friend Dan Axelrod called.

“Are you watching eBay?”

I told him I was.

“Did you see the Monk record?”

I did a quick search and there it was: A copy of Monk’s Music, Riverside 242, by Thelonious Monk. It was an original white label pressing in near mint condition being sold by Atomic Records. What was unusual about the listing was not the record itself, but the bidding. When Dan called the bidding had passed $2,000. When the record finally sold, the price was $3,061.50. It looked like a bidding war among four buyers.

Dan and I weren’t the only ones intrigued – amazed – by the bidding: This record was viewed 1,215 times, which is more than I recall for any other jazz record.

“I didn’t even realize this was one of the heavy hitters,” Dan said.

Neither did I.

I did a quick search of the price guide at Jazzcollector.com. We had one copy listed with the white label. It was in VG++/VG+ condition and sold for $366 in March. Inflation? Rising prices? Condition? Is there any rational reason why this record would sell for more than $3,000?

If you have an explanation, send a note to us.  We’ll explore this one in greater detail next week when we send out our next newsletter.