It also may not be a “don’t know the value” as much as they don’t want want to be in the business of selling records on eBay. They just want their sh*t out of the house and a few bucks in their pocket. I see people online giving away records or selling a box for $20 as long as you agree to show up and take all of them.
And he, of course, gave them a fair and honest price based on that value?
And all the Reader’s Digest box sets.
I believe he does try to be fair, yes, but I have no way of knowing.
Another owner told me came to the store one morning and someone had just left a box of old records with no contact info on his back step – and one of them was worth several hundred dollars. 
As a library volunteer, we get things like that occasionally. We also get stacks of textbooks at times, many of which they could have gotten good money for on reselling websites like sellbackyourbook.com.
I used to work in an independent book store (not part of a chain). The store definitely had to purchase the inventory up front at about a 40% wholesale price, and unsold merchandise could be returned to the vendor, but you did not recoup as much as you spent to acquire it. I would think an independent record store would be similar. I can’t see how an individual record store would get stock for free until it was sold, unless it was part of a record store chain in which the larger entity had already purchased the inventory from Capitol Records or whatever.
I have a friend who owns an antique store. He sells used records in one section of his store, and it is one of the more profitable parts of his business. He has been continuing to expand that part of the business. He definitely does not merely break even on used records. He goes to estate auctions at two auction houses in somewhat rural areas. It sounds like used records often get sold fairly cheaply by the box full. He bases his prices at or a bit below what he sees for the same albums on eBay.
Yep. The value of “I’m standing right here with cash in hand, willing to carry these heavy things to my car” is pretty high.
My brother is liquidating his extensive record collection. He’s gone though and brought some specific stacks to shops to sell for cash, but at this point he is considering inviting a buyer to my basement (where the records live) just to take them all.
But being a collector/seller of things myself, I haven’t been able to let him do that, so I’m slowly cataloging them on Discogs for him.
It’s still probably not worth it for me to catalog, photograph, list, sell and ship them individually. But at least with a catalog he can quickly pinpoint items to sell individually, or in a small lot, or as the “ok take all the rest of them” deal.
UPDATE
I’m doing a pop-up store during a big monthly community event June 15. I’ve secured a great space, invested in some seed inventory, and lined up a bunch of other details.
If it goes well, I can do the same thing (in the same space) for the July and August events with minimal additional investment. I’m approaching this as a combination proof of concept/networking opportunity/marketing event toward the eventual opening of a brick-and-mortar store.
I’d love to hear constructive advice on making this pop-up fun and successful.
Please don’t tell me a record store is a bad idea or that I’m setting myself up for massive financial failure. That may be true, but lots of people have made those points in this thread and it’s not helpful.
Thanks!
My advice is to come to Cleveland before June 15 and buy my brother’s entire collection because he’s ready to sell. I will also throw in a bunch of awesome wooden Cotton Club crates for you to display the records in!
I’ll be waiting! 
Be sure to put your cash register by the front door. I’ve seen way too many ladies’ clothing stores where the register is in the back of the store and then they complain about shoplifting.
Your long-term success is wholly dependent on building a community of regulars. If you’re serious about this you should just lock in the next two events so that you can tell people you’ll be there and encourage them to come back.
“Maybe we’ll be here if things go well” isn’t what you want to tell people.
I’m trying to come up with a non-irritating way to get contact info (email?) from customers at your pop up so that you can tell them when you have another one, or when your store has it’s grand opening.
Alternately, tell them you plan to be at the next two events and, if it’s a total bust, who cares if three people are disappointed in your absence. After all, at that point you’ve decided that the idea is a loser and no one made the first event worthwhile anyway.
I’m kinda buried in used records at the moment. But I’d be genuinely interested to see what your brother has. Any chance he has them listed?
Yep. Already have the spot picked out.
Good point.
I was going to offer discounts and/or free stickers, but I’m open to more suggestions. Building my list at this point is just as important as bringing in revenue.
I thought about that, but if the additional outlay for two extra days is minimal he might as well lock them in and push through. If he gets way fewer customers than he’d been hoping for on Month 1 but they all come back on Month 2, that’s an important data point.
Adding to this, from experience as a farmers’ market vendor: It can take a while to build up a clientele. Slow sales at the first of a repeating series of events don’t necessarily mean that sales will be equally slow at later ones; especially if you can tell people and advertise that you’ll be at the later ones. Sometimes people go home and think it over; and/or come to the next round more prepared to spend; and/or tell someone else about your stand who’s interested and shows up the next time.
Print a couple of padded slips of paper – enter to win (maybe a $50 gift card to a local coffee shop/??).
Have a bunch of golf pencils or pens available. Fish bowl or equivalent to put the completed slips in.
If they just fill out first name, last name, and e-mail address, you can cost-effectively begin to build a mailing list. If you want any other information (demo’s, ZIP code, etc.), you can probably add a couple more fields.
A quick check seems to say that – if you aren’t collecting any money for the chance to win the gift card – you aren’t running afoul of IL raffle laws.
Good luck!
Or, each slip is a 10% off coupon, they can use it today, if they fill it out. It’s easy to be honest “I’m hoping to open a permanent store, and want folks in the area who buy records to know about it.”
Be thoughtful about collecting emails. That can turn off some people. An alternative is to create an Instagram account for your record sales. Have a sign with the handle and a QR code that goes to your Instagram account. People who are interested can scan the code and follow your account. You should probably create an Instagram account regardless since that’s a great way to reach your customers.
Sounds like a plan.
Already on my list!