It may surprise many to find that the hobby of record collecting, long thought dead after the introduction of the compact disc, is still alive and well. Granted, many music fans have long replaced their records with CDs, but for many Baby Boomers and Generation X-ers, the hobby of buying and collecting record albums and singles continues to be a focal point in their lives.
Records offer the tactile sense of a substantial product, unlike the CD. The seven-inch, 45 RPM single often came with a picture sleeve that has no equivalent among compact discs. The nostalgia of records draws many back to their younger days. And records still sound great. A recent check of the Bay auction site showed 959,857 records for sale. That’s just under one million records!
These records aren’t selling at garage-sale prices, either. At any given time, there might be six thousand records by the Beatles for sale, some of which have sold for up to $40,000. Elvis isn’t far behind; his first five singles, issued on the small Memphis-based, Sun label, routinely bring $2000 at auction in nice condition. Other artists, such as the Rolling Stones, Pink Floyd, Led Zeppelin, James Brown, or Madonna have issued records that not only command sky-high prices, but also draw a lot of bids.
The greatest interest in record collecting is in artists of the 1960’s and 1970’s, but newer bands, such as Nirvana, draw a lot of attention from younger collectors. Nivrana’s first single, Love Buzz issued in 1988, sells for up to $2000 and there are several other bands, such as the Misfits, that have released numerous records that sell for more than $1000. What do collectors do with these records? Some play them, some frame them, some simply put them on the shelf. There are collectors who only buy records that they intend to play and others that simply want anything that was ever commercially released by the artist that interests them. There is no pigeonholing a collector; they come in all shapes and sizes. For them, finding a long-unavailable single that has eluded them for years is like winning the lottery.
For those who are interested, there are literally thousands of Websites devoted to artists, records, and record collecting. There are well-known magazines, like Goldmine , Discoveries, and in the UK, Record Collector. Anyone who thinks they might be interested in collecting records has more resources available to them than ever before. Twenty years ago, people thought that records would be long forgotten by now. They couldn’t have been more wrong.
Home Loans – Identity Theft Protection Could Hurt Home Sales
Identity theft has been a hot topic in the news during the last few years. Just a month or so ago, forty million credit card numbers were compromised due to a computer attack on a credit card processor. Consumers are rightly concerned, as it can take years to unravel the problems created when someone’s identity is stolen. New legislation in Texas and California, also proposed elsewhere, is designed to protect consumers by letting them put a “freeze” on their credit reports. Those in the real estate industry are worried, however, that doing so may make it difficult for some people to buy homes.
Debt Consolidation – How to Protect Your Credit Accounts from Theft
Last week, a security exploit at CardSystems Solutions, Inc, a credit card processor, may have allowed thieves to obtain as many as 40 million credit card numbers from unsuspecting victims. The theft was brought about though a virus introduced into the CardSystems that allowed external hackers to obtain access to the account information. Adding to the problem was the fact that CardSystems wasn’t supposed to have the account information at all. It appears that CardSystems “inappropriately” held onto the information after clearing the credit card transactions. At that point, the account information should have been deleted. CardSystems held onto the account information for supposed “research purposes.” Fortunately for those involved, the compromised information only included account numbers and not Social Security numbers, which would have assisted the thieves in identity theft scams. This latest security breach at a credit card processor outlines how anyone can be vulnerable to account or even identity theft. Is there anything that can be done about it?
New Bankruptcy Law – Targeting the Wrong People?
Last April, President Bush enthusiastically signed into law the oddly-named Bankruptcy Abuse and Consumer Protection Act. This bill, representing the biggest overhaul of bankruptcy law in twenty-five years, was written in order to discourage “bankruptcy of convenience.” Proponents of the bill, which included the credit card industry, say that the bill is necessary in order to stop an avalanche of bankruptcy filings by drug users and compulsive shoppers and gamblers. The law makes it harder to have debts wiped away, requires credit counseling for those considering bankruptcy, and holds attorneys responsible for paperwork errors by their clients in bankruptcy cases. The net result will probably be chaos, as fewer attorneys will handle bankruptcy cases, credit counselors will raise their fees, and more consumers with problem debt will be clueless as to what they should do next. Adding to the confusion are some new statistics that suggest that a large number of bankruptcies that are thought to be personal are actually business bankruptcies. As a result, the new law may be unfairly targeting consumers for punishment when they are not actually the biggest part of the problem. Worse, it could be harming small businesses.
