Maybe you have bought many records in the past, cherished them...but they ended up in the attack when other forms of media took its place... and now you want to sell... maybe you have just thrifted a gem and are curious about its value... or maybe you just want same clarity on how much money you actually own in the form of records after looking at your bank account (been there...done that). Anyway. This second part of our little online course: 'navigation through Discogs' will introduce how to use the Discogs app to help give you an indication on the value of your record collection...and it's not that hard at all.
Determine the value of your record in three easy steps:
1. Identify the specific pressing of your vinyl release.
Most albums have been issued more than once, resulting in different release versions. For example, Pink Floyd’s Dark Side of the Moon has been pressed over 400 times on vinyl. One release might be worth a couple of dollars / Euro's, the other hundreds or thousands... a bit of a difference don't you think? To determine the value of your specific record, you must first identify it correctly. We wrote a whole blog about this to guide you through this process step by step. You can go to this blog by clicking here
2. Determine the condition of your vinyl record and sleeve.
Condition is a major factor in determining the true value of your record, but often an overlooked one. Discogs uses the Goldmine Standard, a universally-accepted guideline for representing the condition of physical music. The levels range from Mint (perfect) down to Poor/Fair (badly damaged). We wrote a whole blog about the goldmine standard and how to grade records correctly. You can go to this blog by clicking here
3. Find Prices in the Statistics Section of the release page.
When you have found the correct release you can now determine what your record is worth. We do this by checking the prices in the statistics section of the release page you are looking at. On a desktop, it will be on the right-hand side; on mobile, you will need to scroll down. Immediately available will be the lowest, median, and highest prices that the release has been sold for on Discogs.
By clicking on the Last Sold date (desktop), you can view the full sales data, including the average vinyl price and a chart to track trends over time. If you’re using the Discogs app, this information will be labeled as Sales History. Click on Sales History for the same order history and price information. You can view not only the prices but also the prices per condition, which is especially helpful when you have graded your record. This can make your value indication more precise,
However...beware. For some time now there have been quite a lot of scams on the app resulting in lower value averages when in fact the record was never truly sold for a often lower price, hence the scam. You can recognize these scam-sales often (not always) by them being from sellers with none or bad reviews, the sales have no extra information mentioned on the record condition, and are sold for much lower asking prices than what people where paying earlier on. More often than not you will see a whole row of these scam-sales following up in the sales history or on the current market place page of the release. It is a bummer that this is happening (and please do your research when buying) but if you look at the sales history and see what the prices were doing before a bunch of these scam-sales where made, you can still get a clear indication.
Discogs build in a shortcut
If you have more than one record to evaluate, use the Collection tool, which is available with a (free!) Discogs account. Once you navigate to the release page, click the 'Add to Collection' button and your record will be dropped into your virtual Collection on Discogs. You can even fill in the condition of the media and sleeve before admitting it to your collection. Beware: the condition of your record will not be automatically taken into account when estimating the value of your entire collection...it is therefore an estimation. But helpful nonetheless.
From your Discogs Collection, you can:
1. Get an estimated value of your whole collection
2. Track the condition of individual records.
3. Mark items for sale on the Discogs marketplace
4. Export a CSV for insurance purposes.
5. Search through your collection when you are in a store
and don't know for sure if you have that album or not (it happens.)