75-cent flea market record turned out to be rare, sold for $25,200
A collector purchased a rare Velvet Underground acetate record at a flea market for 75 cents and later sold it for $25,200. The recording, made in 1966, contains early versions of songs from the band's debut album.
Why it matters
It serves as a notable example of the high value placed on music history and the potential for significant financial windfalls in the collectibles market.
During a stroll through the Chelsea fire sales, a collector got his hands on something one can only dream about. And yet, that was exactly what happened to Warren Hill in 2002. He picked up an acetate record at a flea market in New York for the price of a coffee. He bought one of only two surviving copies of The Velvet Underground's secret tape session. He eventually sold it for $25,200!He didn’t have a collector’s savvy eye. It was rather plain luck that landed him a piece of music history. When he bought the record alongside damaged LPs from estate sales and fire-damaged lots, he didn’t expect he was going to make a fortune out of it.
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