Familiarize yourself with vinyl grading. “SS” denotes sealed records; “M” denotes “Mint”; “NM” or “M-” stands for “Near Mint” or “Mint Minus”; “VG+” and “VG” denote “Very Good Plus” and “Very Good”; while “G,” “F” and “P” stand for “Good,” “Fair” and “Poor.”
Research record values by purchasing LP valuation guides or buy looking up prices on the websites of used record dealers and on auction sites such as eBay. Learn which types of records are very rare (for example, limited edition blues albums from the early 1920s or 1930s) and which types of records have little value, such as mass-produced albums from the 1970s or 1980s.
Scour thrift stores, yard sales, flea markets and antique stores for record albums. Don’t be afraid to haggle to get the right price, and offer to buy in records bulk to get a better deal. Always check records for scratches or imperfections. If possible, bring along a portable battery-operated record player to test LPs before purchasing them.
Buy records on online auction sites selectively, as you won’t be able to examine each record for scratches or damage. Also, shipping costs can add up on heavy LPs, so choose wisely which albums you purchase online. The best way to save on shipping and to get a good deal on records purchased online is to buy in lots of 10, 20 or more whenever possible.
Resell records on online auction sites and at record conventions and shows, as well as at flea markets, which often have special sections dedicated to record and CD booths. Wipe down each album carefully with a soft, dry cloth, and include a plastic sleeve for the jacket. Never put a affix a price sticker directly to a record album or jacket; instead, attach stickers to the plastic sleeves. Be willing to come down on your price, to a degree, to make a sale.
Post your records for sale on online classifieds sites such as Craigslist. Include photos of your records and list your phone number for quicker response times.
Sell your albums to used record stores. You won’t be able to get as much here as you might in other venues, however, because the stores will be looking to resell your records for a profit. Many times, record stores offer customers a choice of cash or store credit for used records, tapes and CDs. The amount offered in-store credit usually will be higher than the cash offer.