caverndiscos pt.2

[per0]

4YearGraduate said:That "Panama" 45 by Roy Porter is an early (and MUCH harder version) of the best track from the LP. Shit is rare as all hell here in LA. Roy had no real distribution on these at the time and was kind of a wreck.





http://cgi.ebay.com/Roy-Porter-Sound-Machine-Panama-Funk-45-Chelan-OG-HEAR-/120719404417?pt=Music_on_Vinyl&hash=item1c1b6fed81





DMN SN!




I may be mistaken, but I'm positive that Idem from Oz had one of these on teh bay not too long ago...

 

[Duderonomy]

Lapur said:


Ray and His Court - $1,075







Somebody tell me that wasn't the LP with Cookie Crumbs on it.




















Traded-a-few-years-back-for-a-tenth-of-that-R.

 

[TDLT02]

Stuff like Roy Porter 7", Nathan Davis If album, and one could argue even Verocai sold for double what they would normally sell for!!!





People just got caught up in the frenzy of a mega sale of rare shit I guess. Well presented and put together sale though, always helps raise the price to top dollar.


Maybe I need to out all my records and retire to Spain, or the South Of France in the next few years....LOL!

 

[the_dL]

utters said:I won a WIllis Jackson for $10, paid via paypal, and got an email half an hour later saying it had been shipped!





spelunk is a PRO




love the drum break on that record!

 

[inVrs]

Lapur saidcmr said:


how much did puff,funkenstein,rayhiscourt and verocai end at exactly







Verocai - $5,100


Funkenstein - $4,060


Captain Puff - $1,575


Ray and His Court - $1,075


---





Also:


Roy Porter Panama 7" - $622


Reflection in The Sea of Nurnen - $547





Many records on the $50 - $100 path that I still think are bargains. That Larry Douglas Alltet for starters...that will be a $300 record in the upcoming years. Carlos Garnett still quiet...I can't decide between watching these auctions or the Chicago game




Havent listened to that larry douglas for ages but i remember thinking it was pretty tacky jazz funk, what makes this so special? That rare?

 

[Grandfather]

I wonder if Mr. Africa can estimate what he might have paid for all the records in the purge BITD?

 

[onetet]

Are Canadian Vertigo pressings less desirable? Solar Plexus went for less than I expected.

 

[4YearGraduate]

Some things went for less than expected for sure.





The Roy porter (amongst other things) was mine, and I expected 600-700$ for it. That's what it's sold for in the past.





B/W have more copies for sale. $650 a piece. HOLLER!

 

[LaserWolf]

He sold every item listed which is amazing.





The Willis Jackson might have gone for more if he had mentioned that it was Harlem Underground.

 

[Mongo_Slade]

tripledouble said:i know right.....its like watching the nba draft but so much better.


get that dough gentlemen!!!




Thanks, T**y!





I watched about half of the auctions end and it felt like the first day of March Madness would if every game was staggered to end two minutes apart and likely to include a ridiculous buzzer beater. Big shout to snipers for keeping it interesting.

 

[Mongo_Slade]

Grandfather said:I wonder if Mr. Africa can estimate what he might have paid for all the records in the purge BITD?




I think I'm going to have to figure that out, as well as how to document it, for tax purposes.





I don't regularly sell records and I owned everything for at least five years, so my instinct is that the proceeds from the sale should be treated as capital gains rather than ordinary income. Unfortunately, for most of the records I don't think I have any records to support what I paid for them or when.





Anybody deal with this situation before?

 

[Jonny_Paycheck]

It might not matter what you paid - especially if there's no paper trail. Get an appraisal done based on title/condition and anything over that treat as capital gains.*








*I reserve the right to be totally wrong about this.

 

[Hollafame]

It absolutely matters what he paid. All an appraisal will tell you is what they are worth now..which is likely pretty close to what they sold for! Not useful for income purposes.





Although the lack of paper trail is problematic. You're probably just as well off to use your best guess about what you paid for them. I am not familiar enough with US tax law to say what qualifies as a capital gain, but it sounds like that may be an option as far as how to characterize the profits.

 

[maru]

So after ebay/paypal fees and commission you looking at something like 30k? those are some real world moves right there. congrats.

 

[HarveyCanal]

That may very well be the Nathan Davis If Lp I found in a free bin at Waterloo Records here in Austin. I can't remember what I sold it to the seller for, but it wasn't $600+, that's for sure. Way to flip it like that!

 

[Jonny_Paycheck]

HOLLAFAME said:It absolutely matters what he paid. All an appraisal will tell you is what they are worth now..which is likely pretty close to what they sold for! Not useful for income purposes.




Right - but knowing Matthew, some of these might well have been purchased for $3 in 1994 or some such. Whereas if he could have it appraised at, say, $150 - and it sold for $228 - that's much less liability.





Edit: I'm not sure how the time element figures into this. I know I can't write off last year's purchases as this year's, even if I only got around to selling them this year, but my situation is obviously different.

 

[faux_rillz]

Jonny_Paycheck said:HOLLAFAME said:It absolutely matters what he paid. All an appraisal will tell you is what they are worth now..which is likely pretty close to what they sold for! Not useful for income purposes.




Right - but knowing Matthew, some of these might well have been purchased for $3 in 1994 or some such. Whereas if he could have it appraised at, say, $150 - and it sold for $228 - that's much less liability.





Edit: I'm not sure how the time element figures into this. I know I can't write off last year's purchases as this year's, even if I only got around to selling them this year, but my situation is obviously different.




I think the reason for that is that the money you paid for them will have already been reflected on last year's filing in your case, but Matt will never have previously reported these purchases as an expenditure. I think capital gains is the right treatment but, as has been pointed out, the lack of documentation is a problem.

 

[Lapur]

Just have the cost of listing fees, commission, and that 18th century diamond encrusted treasure box you used for shipping Verocai offset any gains. Taxable ebay income = $0. I can also get you a legit invoice showing you paid $50,000 for that NBA jam record in 1998. It's my invoice, but I'll give it to you since I don't plan on letting go of my copy.

 

[Jamal]

musica said:behemoth said:

i'd rather have that than the record.




I'll take both, please!







Shihhtt, thinking bout how wierd it would be...foolin around with her while playing his record..


woooot!











it would be weirder for her though.

 

[faux_rillz]

Wow, this thread took a turn for the terrible





You creeps have reminded of why I stopped checking for this board