New Vinyl Wholesale Costs & How To Get Them!
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- Опубліковано 13 чер 2024
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11500 E Independence Blvd
Unit F
Matthews, NC 28105
Dillon, thanks for making this video. As a longtime record store owner, I can relate to everything you said here. Those customers who complain need to know that you couldn’t afford to stock new LPs unless you had the used record volume of sales. IOW, your customers buying the used records are literally supporting your ability to stock and sell new LPs. Again excellent content. Thanks
Yes! Very well put!
Dillon, I have been watching your videos since just before the global shutdown. I absolutely love your honesty and how humble and genuine you are. I hope one day to meet you at your store, not too far from you in western New York. You definitely fuel my passion for collecting vinyl records. Best wishes to you and your family.
That means the world to me! Thanks for the kind words!
When I bought my first album Black Sabbath's "Paranoid" in 1974 it was 5.00 at the local Mammoth Mart...that was about 2 hours of minimum wage....minimum wage in Mass is now $15, so $30 for a new record is dead on ...or course if minimum wages in other states havent kept up with inflation, there's a larger gap
Power to the independent record stores!
🎉🎉🎉
Superb insight into the "otherside" of a record store. Very enjoyable post Dillon ( yet again)..Many Thanks from the UK for taking time to do these 👍👍👍👍
No matter how low you price your inventory, people will complain. You are my favorite record shop owner (and that includes myself, lol!), I appreciate you passing on all the knowledge.
I am a weekend only shop with a very small inventory bc otherwise, I couldn't do it... but I absolutely love it, it's the absolutely the best hobby to be a part of. Thanks again l, I will try and buy from you online as often as I can 👊
Thanks so much!
As a fellow store owner I fully agree with all you said. You held up an album and I said the exact wholesale price. People think we pay Pennie’s and Jack up the prices. Truth is, the wholesalers get paid up front and we plant little seeds and hope get a sustainable crop. Good job.
RESPECT, NOT ALOT OF RECORD STORE OWNERS WILL TELL YOU HOW MUCH THEY PAY FOR THEM RECORDS , CONGRATS BROTHER SO DOWN TO EARTH. ONE DAY BROTHER YOU WILL BE ON TOP OF THE GAME WITH YOIR ATTITUDE AND LOVE FOR MUSIC .
Thanks!
I was in retail my whole working life and it’s pretty much the same all over. I had a retro men’s clothing store and it’s impossible to compete against the Walmarts of the world. It’s why I try to only shop local stores. Actually only been in a Walmart half a dozen times in my life. You provide a unique and specialized experience for your customers and that’s why you are and will remain successful. Hopefully someday my travels will take to NC and to your store. Congrats and keep ‘em spinning.
Dillon - love these “behind the business” videos that come with your brand of genuine honesty. Always interesting to hear ownership perspective!
Thanks for watching! 🙏
This was a very interesting video! Definitely makes me appreciate my local record stores even more!!
As a fellow record store owner, I can more than appreciate this video. Thanks for making it. :)
I usually stop by my record shop maybe once or twice a month. Typically spend around a hundo per visit. This was great knowledge for the consumer to help support their local store even more.
My approach to digging is buying used before new. There are modern releases I'll buy, but they're from modern artists. King Gizzard and the Lizzard Wizard, for example, has been a blast collecting. I think It's important to offer a variety, but also have your own feel and asthetic.
Can't wait to visit your store someday!
Went to my first record fair with my parents and found a small record shop nearby. Being in the record store is so much nicer than shopping online (which I have being doing since I started collecting a month ago), so I placed an order. I know the price will probably be more than from a big store like HMV but I think the extra cost is worth it to support these local stores.
Good on ya! Always best to support local!
Thanks for all the videos! I always learn something new every time I watch! Thanks again! 👍
Thank you for this video! very informative as all your videos are!
Thanks for this excellent video and explaining how things work behind the scenes for record shops. Appreciate there's a lot of time and work producing this.
Thanks for another great video, Dillon! It’s crazy that the wholesale prices are as high as they are. Thanks for always being so honest and telling it how it is.
Such an interesting insight, thanks a lot for being so open Dillon. Even though I buy both new and used records, you are totally right nothing beats the thrill of finding something in the used bins that has escaped you for ages. Great video 🙏🙏
Thanks for this Dillon and explaining just what it takes for owning a record store. Peace and love man !
Thanks for the video Dillon. very informative and interesting!
Easily the most fascinating video you’ve ever made & I’ve definitely watched countless heavy rotations. So many questions answered that I’ve pondered for years. It’s going to be kind of insane 20 years from now when OG used from the 70s just start becoming much more rare than they are now and God forbid the “old pressing” that’s used was never cut from analog to begin with. This is truly the golden age to still snatch those up while we can at the prices they’re at now because they will end up being much more sought after at that point. Because honestly as long as the vinyl is cut from digital, it’s hard to imagine how a copy from today will sound any different whatsoever than the copy 20 years from now, which will end up being truly weird. Unless some insane sea change happens in the technology, which is kind of hard to imagine. The only possible scenario would be if a company comes along that starts manufacturing all that analog process stuff again and artists can all afford to record on tape again, vacuum tubes get used again, that would be truly remarkable. My bet would be on Jack White. Damn, think about how much Elon Musk threw away for fucking twitter when he could collaborate with Jack White on something infinitely cooler like that.
Thanks for making this video Dillon! Really appreciate it!
Thanks for watching! 🙏
Thank you for the information! Hopefully we can get to your shop one day.
That was a great video! Always wondered what the mark up is. Thanks for your honesty and the education.
Thanks for watching! 🙏
With the mark up, you to pay for taxes, inventory, rent, liability, payroll, Utilities, Insurance, and there’s probably a dozen more items that I forgot about which really narrows down with what you make or any brick and mortar shop would make per item.
Yeah there’s a lot to it! But we are surviving!
This is a great view into a record shop. Thanks
One of the greatest VC videos ever made! I’m sure other record store owners will be very appreciative of this..Rock on brother!
Thanks! I tried to present the facts well
Thanks for all the info! Gonna visit the shop soon when we’re over from Scotland
This latest video was informative and transparent. It really put some concrete numbers on what was previously my guesstimates of what independent record store owners have to factor in and shell out to keep a business afloat (including rent, staff and utilities)...in addition to all of the hard work work of acquiring used collections, assessing them, cleaning them, grading them, ticketing them...as well as absorbing pressing flaws / returns etc. and the rest. I really appreciated the break down and I know your other content watchers will as well. This is bound to get a lot of views and traction. Great one!
Thanks!
Thanks - appreciate your videos. I buy and sell used in retirement for the love of music and records while adding to my own collection. Ran my own retail auto parts store for 20 years and often heard the same comments - you are really raking in the bucks! The reality is that most people have no idea what kind of sales volume it takes to cover overhead let alone earn a meager income for yourself. Rock on!
Great video. Lots of important information, especially as I'm thinking of opening up a record store myself! : )
Mad respect for you, Dillon. Can't wait to come shop for some killer used (& maybe a little new) when I'm in Matthews in May!
Thanks for this insight, very interesting 👍
Great stuff man. Thanks for taking the time to explain. People don’t get it. This is a good step in the right direction. Hopefully you get less flack from people moving forward.
Thanks Dillon. I'm really glad I got one of your shirts. Hopefully, that bit of profit helped you! I gotta get to your store!
Everything helps! Thanks so much!
Thanks for sharing this, your transparency is cool!
Thanks for watching! 🙏
yeppp, when im older i want to open a record store but MAINLY used vinyl and obviously have some reissued albums but mainly the essentials and stuff i like.. in a week im actually going to a record show and selling a few hundred records so im already starting my record selling journey at 15 years old!
Great video! Cool seeing Rich Robinson watching you from the wall behind ya there
Haha!
For what it's worth, this was a really interesting video. It helped me appreciate my local store even more. Just so you know, as someone still pretty new to the hobby: it's just as exciting for me to find a copy of something I've been looking for new, like "Yankee Hotel Foxtrot" on vinyl as it is that original pressing Frijid Pink album. I haven't heard either and have had trouble finding both. Jimi Hendrix is someone I never really listened to but getting into vinyl allowed me to do so in the way it was meant to be heard. I understand that records are going to be expensive; it's a hobby and hobbies aren't cheap. Ever. So thanks. And I wish your store was local. I would be there every week. Also! Your exclusive Poobah album was awesome! Sounded great! So glad I managed to get one of those!
Great video.
So glad that I built most of my collection back in the 90's when used vinyl was dirt cheap.
Yeah I bet 🤣
Nice looking Les Paul hanging in the back. Great video!
Awesome vid. Greatly appreciated!
I owned a record store from 1999 until 2008. I started it trying to be vinyl focused but the vinyl explosion was aways off. Anyway, the margins were super thin back then on new LP's and CD's, too.
Yeah always a tough game!
Dude, I’m stressed for you after hearing all that! Hey, I’ve only been able to come to your store once. My daughter and I loved it and thoroughly enjoyed it. We both bought a record and I went to ikea on your tip to buy shelves for my records. I live two and a half hours away but we will be back. My son really wants to come next time. I have enjoyed all your videos are well. I appreciate you man!
Great video as always Dillon. I used to run a record label and I think some people forget how many people in the chain there are and how they all need to make a bit of money, e.g. the pressing plants selling to the record label needs to make money, the record label selling to the distributor, the distributor selling to the record store, the record store selling to the customer. I used to always try and sell as cheap as possible to the record stores as I know they had a lot more overheads and bills than than me, and being a collector myself, I wanted the stores to carry on thriving. I also used to try and avoid distributors when I could and sell direct to the record store so they would get it cheaper than they would from a distributor. But then again, some stores would only deal with distributors and not with small labels directly so it was a difficult balance. Just my point of view regarding wholesale from a record label owner. Been loving your content for years now - really enjoy the videos 👊
When I worked in a record store in the early 70's our store sold new releases for $6.19. The minimum wage was $1.90/hr. That makes a new LP 3.25x the minimum wage. Min wage of $15.00/hr in 2023 makes a new LP $48.75. So is new vinyl that expensive? Our sale LPs back then sold for $4.69 that's 2.46x the min wage. Our best deal IMO was Humble Pie Live at the Filmore. A&M listed that double LP for a single LP price. Best deal in rock!
Yeah I know! Wild if you put it in that perspective!
Spot on video… store I worked at for 10 years we focused on used vinyl and tried to find the best priced reissues among some 5 or 6 distributors, they all have stuff priced differently and if you sift through their online catalogs certain albums can be $2-$3 cheaper so figuring that out was key to getting people the best priced, but man ya buying collections was something we focused on and it’s still my focus!
As someone who dreams of opening a shop one day I can’t thank you enough. I’ve done a fair amount of research but this was extremely helpful. 🍻
Great content. As the owner of a small record shop, I totally relate.
Dillon that was such an interesting video and thank you for being so candid. I never imagined running a record store would be a bed of roses and this really confirms it. Shame the market will not bear 60 bucks for that new copy of The Wall, that would really help you to keep the lights on. Hope you keep on finding great used collections with more margin in them, to help you make some money! Greetings from London.
Dillon watched the video yesterday left me smiling about my record buying not a collector but loved growing up listening to music and going out and buying the record. I am showing my age but the first was Revolver bought the mono for $2.99 stereo was a $1.00 more, dad woulld not give me the extra dollar. My god have times change. Still a great video, thanks.
Why I watch your show is to see records I don’t have and now will be on the look for in da wild.
I have bought records because of you and took chances on records( part of that is because I have
Tons of vinyl). My intention is to come visit. Hope your there then but I still plan to come and shop
Again, great vid. Lots of info that makes sense too. I sometimes see stuff on Amazon & then see if it's coming from an independent store. I then try to order from that store. Amazon is just used to keep an online list of "to get". I really almost exclusively buy from brick & mortars. Thank you. I hope to take a road trip from Philly some day...
I checked the prices for the White Album in '68 and they ranged fro about $8.50 - $13.00 with the MSRP being about $11.99 - this apparently was an outrageous price at the time.
Yes, yes, and YES
The only thing I would dispute is the "You can't make money off new vinyl" sentiment....
If you buy a pre-owned album for $1, and sell it for $10 - you're making $9 profit (not taking into consideration the time/effort to source, inventory, store, clean, grade, price and sell the album). This is a LOT of pre-owned albums.
If you buy a NEW vinyl album for $15, and sell it for $24 - you're making $9 profit (not taking into consideration the time/effort to search for, buy, receive, price and sell the album), Like you pointed out the margins aren't always that good, but on a lot of titles it can be in that ballpark.
In the end that's the same $9 profit.
The only difference is the UPFRONT COST and commitment like you mentioned. If you have the cashflow, and confidence it will sell then it can certainly become a profitable business. It all comes down to volume and scale.
Great video as always man, cheers!
Great video thanks!!
Niche shop here with a bit of a complex issue. We carry lofi, psych, jazz, house and its tough to get "vintage" lofi or old records as you just don't see lofi or modern psych out in the wild, used. Thanks for the one stop tid bit, Monostero was the first one I came across
Great video, very interesting to hear your perspective as a store owner. Owning a successful store is not for the faint of heart that's for sure. Also you crack me up, the staircase bit lol
Haha thanks! Glad you enjoyed it 🤣
I appreciate the info. You don't really realize what goes into running a record store. I need to come out to your store more often. Thanks for the video.
Thanks you!! So informative and honest, really sympathetic to your plight. Wish you personally bright future just sad how hard to make a living this is for you.
As strictly a consumer of records this video was very interesting and informative and very much in line with what my prefered "dealer" tells me.
True, everything cost about 10x as much as it did in 1968. I was there!
It's all about a business plan and monthly budget. Great vid Dillon.
Yeah that’s what I’ve heard, I’ll try that sometime 🤣
I live in a tri-state area that has seen four record shops come and go in the last five to seven years. There was no way to compete with Walmart, Amazon, Target and the other box stores when it came to new vinyl and there wasn't enough people interested in the old stuff. I miss the family owned and even chain record stores we had in the 60s and 70s. Wishing you all the luck.
Thanks!
In UK buying big names wholesale is difficult too. Cheers Dillon for your excellent videos serving both collectors and other record dealers Respect
I live in Baltimore and I have a couple shops near me. One,Rebs sells mostly new and what used he can get. Probably smaller than yours but somehow supports 2 owners and a staff. Another is huge,but sells alot of other stuff. He mainly has a store of Walmart $15 dollar sale records. It’s hilarious! And Soundgarden which is not terribly big, does a huge new record sales and shipping business, and has a fair amount of used. The are open everyday all day and staff many people at a time. Somehow they are cheapest on new records and offer a 5% loyalty discount.You should hit that if you ever come through. There are others within a half hour to an hour, but those are closest.
Noted! Thanks for watching! 🙏
You must live near me! Harford/Baltimore county I'm guessing?
Great content man. Hope one day I can visit your store
Thanks so much!
Very informative video, thank you.
That sweatshirt though... 🔥🔥
Haha thanks!
These margins are crazy and the fact that you pay up front makes it very very difficult. Respect!
Here is one thing that I think helps your favorite record store and has benefits for the buyer: if there is something new out there and they don't stock it (or didn't come out yet), ask the store owner to order it for you. They will try to keep the margin at the lowest because they know that otherwise you would be ordering it online, they have a risk free investment in goods that pays back immediately, you don't have to do the extra work with ordering, pay for shipping, and get to contribute to a local store instead of sending your money to amazon etc. Best to send over a list of a dozen items and first ask for a quote, that way the store owner sees that you are a serious collector and conscious about your money. I started doing this with a local shop (South Hungary) and it's working out great.
Groovy as always!
Thanks for watching! 🙏
Hopefully this sheds light to a lot of people, its a big misconception that wholesale pricing is a lot lower & that the prices are expensive to make crazy profits… there is 2 local stores from me that get NO BUSINESS (due to their own faults) & have probably $150,000 worth of inventory that they paid for. God knows what they are going through, cause i know they didn’t get their inventory for cheap, no one does. The real game is within the used records. Always will be from now on.
Yeah. Like I said, gotta have both I think. Thanks for watching! 🙏
At the same time, who cares if record store owners are making crazy profits? They probably deserve it. I don't knock anyone for making good money running their own business.
Awesome video Dillon!!! I admire you a lot. I wish your record store was in my state. You're only about 7 states away. Lol Thanks for your honesty and openness.
Thanks!!!
One of the best Videos , geetings from Berlin Germany, thx
Thanks!!!
Thanks for explaining that, Dylan. I had no idea the wholesale prices were that high. And I didn’t know you couldn’t just order directly from the major labels. Very informative.
Sorry, Dillon, not Dylan.
Thanks for watching! 🙏
Pretty grim. But also why I try to buy from small businesses as much as possible.
Yes! Thanks!
Long live Noble Récords!
🙏🙏🙏
New Respect to you and all record store owners.
Thanks!
Very cool 🔥 didn't realize you had a basement..
We don’t 🤣
great video
great info Dillon, all 100% accurate. At our shop we use Alliance though we do have direct accounts with the bigger indies. Matador and Secretly as you said. Redeye has become our 2nd biggest one and they carry tons of labels. If you don't deal with them (sorry if you mentioned it) you definitely should since they also have better prices on the Matador group plus a ton of labels like Domino, Warp, Soul Jazz, Strut, Mom+Pop, Analog Africa etc. And they're based in NC. It is easier to use a one stop of course to save on shipping, plus they are the ones who carry the major classic rock stuff like you need. Also true, we've had zero success opening direct with Universal or Sony. They won't even talk to you unless you're a big indie chain (Newbury or Bull Moose). Great info!
Good stuff....love to see behind the curtain with the man pulling the levers on how the pricing works.....a buddy of mine owns a restaurant and he always tells me the beer and liquor brings in the customers but the food pays the bills! Sounds like 180 pressings are the liquor and the used records and grails are the food.....now I know why you don't get heavily involved in RSD...seems like a crapshoot on low margin inventory. 🤔
Keep up the great work with the channel👍
I Remember I bought Kiss Alive! (Double LP) in 1977 at K-Mart for $8.99 later that year I bought Kiss Alive II for $7.99 on Special at K-Mart - of course for a 5 year old kid that was huge money - all of by birthday money and a small loan from mom and dad lol.
Great video my friend. I've worked in retail forever. I understand how this works everyone thinks these stores are price gouging then I have to explain why thats not the case then they go..oh didn't think of that. I remember when I bought Abbey road first time I paid I think it was 4.99 brand new..I was like wtf...lol
I used to be a buyer for a large music retail chain and the big guys definitely used to operate on a cycle of credit and returns.
Great Marantz Setup !! :)
Thanks!
Great video Brother. I helped a Friend with His Record shop for 5 years. I lived Your message about operations on a Record shop. I talked My Friend into selling other popculture collectables. Like comic's and video games and Toy's. Because some day's We didn't sell any record's. Thanks always for sharing Your passion and adventures from Toronto Ontario Canada 😀 👍 ❤️ 🇺🇸 🇨🇦 ♥️ 🔊🎶🎶🎶🎶💯
Thanks for watching! 🙏
Diggin the honesty of it all man, we all appreciate that for sure! Learned quite a bit, and learned I probably will NEVER be opening a shop also LOL!
Haha definitely have to get creative with how to make the money! Thanks for watching! 🙏
What an honest, informative and enjoyable video! Owning/running a retail music store is a tough and often thankless job, you really put things into perspective. As I have a private press record coming out this year, this helps me with setting prices for stores that want to carry my LP, because I want them to survive too. Bought the Poobah LP from you, loved it! Thanks, Dillon.
Thanks man!!!
Thanks!
Do you hate it and dislike it? LOL Thanks for the video. Keep up the great job!
The shop I work in over in the UK do the same as you. Mainly used records with a selection of classic albums brand new sealed. Like yourself, we don't make much money on the new stuff but people still buy them. Most people don't complain about the prices but again like yourself, we explain the prices we pay for them and what we make, which is very little. Complete transparency. The Wall, The White Album, The Red & Blue, Californication, to name a few are all good sellers but very expensive for us and obviously the customer. I don't know how shops that sell only new vinyl pay their bills and keep going. It must be ridiculous hard to make ends meat.
Yeah I don’t understand either. I guess high volume.
Back in the 90’s with a lot of house music the promos were sale or return.
So…how do you feel about the new stuff? Thanks for the interesting insight about the nuts and bolts of running a vinyl shop.
Dylan this is awesome info. Ive also wondered how surf shops make money? Just ordered the Poobah record trying to support from San Diego.
Thanks so much!!!!
Great video, very revealing.
Your mark up is standard - most corporations expect a 25 - 30 go. Ask those who question about their mark up.
You are not a high volume chain store - relax, you doing it right.
Thanks!
Hey Dillon , love the transparency. I help out at a friends shop and i am aware of these costs ... even more fun when he orders in a bunch of audiophile stuff 😂 order 40-50 mofis / impex / uhqrs / intervention and the costs are unreal. I opened a couple of boxes of records a few weeks back (maybe 20-30) and they cost almost what your invoice was for the 131 !! very hard to keep in business for record stores unless you are really hustling ... respect. my dream is to have a shop but i can't see the way to make it happen right now between start up costs , bills , stock ... and i still need regular money so i can't take the risk - but eventually i will 😂 there is no shop in my town (uk) and in fact no good shops for a long way ... i can watch you and dream though . cheers
Well I started my shop with $1000. You can start small and build. That’s what I’ve always done. Good luck!
Great video, as a record store owner in the UK I can confirm that the issues you discuss in the US are exactly the same here.
You hit so many nails on the head I expected you to be wielding a hammer at any moment.
Thanks! 🤣
Wow! Near on 12 bucks for a new album in 1968 seemed freaking expensive to me even before you revealed the inflation calculation. Crazy.
Price sticker shock - that's what it's called. I've done the same inflation calculations , and come to the same conclusion.
Great honest very 🙏🙏
Thanks for watching! 🙏