The market for high-end vinyl has gotten very expensive. The price of very rare vinyl on Discogs has risen by almost 1000% over the past decade.
A new report from Discogs, shows the quick upward trend in price for ultra-rare vinyl that hits the market and is then sold on the service. Until 2015, the most expensive vinyls sold for only $2,000. In March 2015, a record finally surpassed the $5,000 mark. That month, Judge’s Chung King Can Suck It topped the list at $6,048. From there things have spiraled upwards with five records now going for over $10,000 and that trend doesn’t seem to be stopping anytime soon. The Prince Black Album was sold for $27,500, which actually is less than an album at an auction recently.
Other vinyl is growing more expensive as well. Discogs measure for the 30th most expensive vinyl each month has grown from about $300 in 2010 to nearly $1,200 this year, though it took until 2017 for it to crack $1,000.
This has led some to worry that vinyl is becoming commoditized, being bought and sold on the open market without much care for the art. That has been a concern since vinyl started to become a fad again in the mid-2000s with events like Record Store Day. It is bound to happen, but some may actually just want to collect the vinyl like art and others may use it to speculate. Either way, most probably can’t spend $10,000 on a piece of plastic.