Randy Twizzle Posted February 22, 2008 Report Posted February 22, 2008 Record Collection Fetches $3M on EBay By THE ASSOCIATED PRESS Published: February 22, 2008 Filed at 5:59 a.m. ET PITTSBURGH (AP) -- A man says he can now retire because someone bought his massive record collection on eBay for the asking price -- $3 million. A buyer from Ireland agreed to shell out $3,002,150 for the collection of nearly 3 million vinyl albums, singles and CDs, owner Paul Mawhinney said Thursday. The winning bidder has already deposited $300,000, and a bank has confirmed that he has enough money to buy the collection, Mawhinney said. The price tag is one of the highest recorded by eBay Inc., said Karen Bard, a spokeswoman for the online auctioneer. A Gulfstream II jet once sold for $4.9 million, she said. On Thursday, the 68-year-old Mawhinney closed Record Rama, which opened in Ross Township in 1968. He said he wants to spend time with his wife, three children and five grandchildren. ''I am legally blind. I had a couple of strokes a few years ago ... and it's time at my age to think about doing something else with my life,'' he said. The collection includes more than 1 million albums, 1.5 million singles and 300,000 CDs, Mawhinney said. ------ On the Net: Record Rama: http://www.thegreatestmusiccollection.com Quote
Stefan Wood Posted February 22, 2008 Report Posted February 22, 2008 From Ireland. I shudder to think about the shipping costs. Quote
porcy62 Posted February 22, 2008 Report Posted February 22, 2008 http://www.organissimo.org/forum/index.php...802&hl=link Quote
The Magnificent Goldberg Posted February 22, 2008 Report Posted February 22, 2008 He's burned them all onto 74 hard drives MG Quote
Stefan Wood Posted February 22, 2008 Report Posted February 22, 2008 Oh yeah, and how much is ebay getting in fees? 30 grand???? Quote
BERIGAN Posted February 22, 2008 Report Posted February 22, 2008 Record Collection Fetches $3M on EBay By THE ASSOCIATED PRESS Published: February 22, 2008 Filed at 5:59 a.m. ET PITTSBURGH (AP) -- A man says he can now retire because someone bought his massive record collection on eBay for the asking price -- $3 million. A buyer from Ireland agreed to shell out $3,002,150 for the collection of nearly 3 million vinyl albums, singles and CDs, owner Paul Mawhinney said Thursday. .... Record Rama: http://www.thegreatestmusiccollection.com Sounds like he was already rich if he owned nearly 3 million albums, singles and cds! Quote
porcy62 Posted February 22, 2008 Report Posted February 22, 2008 Record Collection Fetches $3M on EBay By THE ASSOCIATED PRESS Published: February 22, 2008 Filed at 5:59 a.m. ET PITTSBURGH (AP) -- A man says he can now retire because someone bought his massive record collection on eBay for the asking price -- $3 million. A buyer from Ireland agreed to shell out $3,002,150 for the collection of nearly 3 million vinyl albums, singles and CDs, owner Paul Mawhinney said Thursday. .... Record Rama: http://www.thegreatestmusiccollection.com Sounds like he was already rich if he owned nearly 3 million albums, singles and cds! Not really sure, if you're a addicted collector... Quote
A Lark Ascending Posted February 22, 2008 Report Posted February 22, 2008 Hope it's the Republic. 1 million albums, 1.5 million singles and 300,000 CDs would leave room for nothing else in the North! Quote
porcy62 Posted February 22, 2008 Report Posted February 22, 2008 Hope it's the Republic. 1 million albums, 1.5 million singles and 300,000 CDs would leave room for nothing else in the North! Yeah, the final solution of the conflict...peace, love and a looooot of music. Quote
A Lark Ascending Posted February 22, 2008 Report Posted February 22, 2008 (edited) Ooooh, look! It is the North. And they've already started stacking them: You can see the new owners trying to find disc 2 of Bitches Brew. Edited February 22, 2008 by Bev Stapleton Quote
The Magnificent Goldberg Posted February 22, 2008 Report Posted February 22, 2008 Ooooh, look! It is the North. And they've already started stacking them: You can see the new owners trying to find disc 2 of Bitches Brew. MG Quote
Chas Posted February 23, 2008 Report Posted February 23, 2008 Talk about your 'bulk discount' ; $1.07 per unit ! To see what a depreciating asset that collection was , consider that $ 1.07 today is the equivalent of .15 ¢ in 1960 , .19 ¢ in 1970 , and .38 ¢ in 1980 , and consider that the guy wasn't an industry insider so his weighted-average cost of acquisition probably exceeded that range of figures by a good margin . By his own reckoning , " many millions have been invested in the acquisition and storage of the collection " . A public service perhaps , but an investment ? If you're going to take those kinds of liberties with language you have to buy her dinner first ! Best quote from the guy's website : " Digital preservation would be fine were it not for the fact that CDs have a life-span of just 15 to 20 years. In a few short years, the information on your CDs will just begin to disappear. Forever. " Not that the RIAA wouldn't that !! Quote
AndrewHill Posted February 23, 2008 Report Posted February 23, 2008 Any jazz in the collection? (Forgive me if that link has a breakdown of the collection; I'm too lazy to look ) Quote
Dave Garrett Posted February 23, 2008 Report Posted February 23, 2008 Looks like the buyer's been NARUed at eBay, so presumably the sale fell through. Quote
The Magnificent Goldberg Posted February 23, 2008 Report Posted February 23, 2008 What's NARU? MG Quote
Jazzmoose Posted February 23, 2008 Report Posted February 23, 2008 "Not A Registered User"; kicked off the site with your account suspended. Quote
The Magnificent Goldberg Posted February 23, 2008 Report Posted February 23, 2008 Thanks Mark MG Quote
Dan Gould Posted February 23, 2008 Report Posted February 23, 2008 then how come the AP reported that $300,000 had been deposited and the bank had confirmed the full amount being available? Quote
Spontooneous Posted February 23, 2008 Report Posted February 23, 2008 Perhaps the buyer unregistered himself to avoid a flood of inquiries and unwanted attention? Quote
Randy Twizzle Posted February 23, 2008 Author Report Posted February 23, 2008 Record Rama bidder turns out to be a fraud Saturday, February 23, 2008 By Scott Mervis, Pittsburgh Post-Gazette The $3 million winning bid for the Record Rama collection on eBay was a fraud, according to J. Paul Henderson, agent for the sale. Mr. Henderson said he got a call from an eBay executive last night explaining that the "jopsoup" bid was not legitimate and the account has been suspended. The Irish man with that screen name says he didn't even know about the bid until after the fact. "Jopsoup" told the eBay executive that he was a victim of identity theft. "He claims he went to an Internet cafe and got the e-mail with the invoice from us and wondered 'what the hell is this?' " Mr. Henderson said. Mr. Henderson says he and owner Paul Mawhinney plan to re-list the collection and run the auction in a more "semi-private" fashion with screened bidders. They also have a few private collectors coming into town who will examine the collection of 3 million albums and CDs, cassettes and 8 tracks. First published on February 23, 2008 at 12:00 am Quote
Dan Gould Posted February 23, 2008 Report Posted February 23, 2008 So, I guess no actual deposit was made and no bank confirmation of funds was given. How the hell did it make it into the AP report in the first place? Quote
porcy62 Posted February 23, 2008 Report Posted February 23, 2008 So, I guess no actual deposit was made and no bank confirmation of funds was given. How the hell did it make it into the AP report in the first place? Another good reason for distrusting press, when I really need to check news out, I PM to Brownie. Quote
Chuck Nessa Posted February 24, 2008 Report Posted February 24, 2008 When I saw the price I made a deposit but not the kind anyone wants. Quote
jimi089 Posted February 24, 2008 Report Posted February 24, 2008 When I saw the price I made a deposit but not the kind anyone wants. Quote
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