A 12 inch acetate recording of the Velvet Underground and Nico, purchased for seventy five cents at a New York flea market has turned a pretty nice profit for a Montreal man.
Warren Hill purchased the LP, four years ago while in New York city and only recently found out the true value of his flea market pickings. The recording, long thought lost is one of only two version that exist of the early work of the Underground a demo recording that was being shopped around at various record labels forty years ago by Andy Warhol. His proteges would go on to make a name for themselves individually, but in 1965 the in thing in New York was to find out where the Velvet Underground and Nico were at and take in a happening.
Hill enlisted the aid of Eric Isaacson a Portland based music writer who specializes in hard to find and rare recordings. The two made a digital copy of the music for history's sake and then placed the LP on eBay ten days ago, the bidding became frantic leading up to the closing bell today.
As the last eBay browser clicked through, the final tally for the 75 cent record was $155,401 a fairly handsome profit for something picked up as somebody's closet cleanings.
So for those that complained at my last garage sale about the price of the LP's, CD's and such being offered up from the basement, keep an eye on eBay you might be sitting on some gold that I never even knew I had!
Warren Hill purchased the LP, four years ago while in New York city and only recently found out the true value of his flea market pickings. The recording, long thought lost is one of only two version that exist of the early work of the Underground a demo recording that was being shopped around at various record labels forty years ago by Andy Warhol. His proteges would go on to make a name for themselves individually, but in 1965 the in thing in New York was to find out where the Velvet Underground and Nico were at and take in a happening.
Hill enlisted the aid of Eric Isaacson a Portland based music writer who specializes in hard to find and rare recordings. The two made a digital copy of the music for history's sake and then placed the LP on eBay ten days ago, the bidding became frantic leading up to the closing bell today.
As the last eBay browser clicked through, the final tally for the 75 cent record was $155,401 a fairly handsome profit for something picked up as somebody's closet cleanings.
So for those that complained at my last garage sale about the price of the LP's, CD's and such being offered up from the basement, keep an eye on eBay you might be sitting on some gold that I never even knew I had!
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