Data from online music marketplace Discogs has revealed record collectors spent more than $200 million ($267 million in down under dollars) last year.
In total more than 10 million records were sold last year on the marketplace alone, up from 8.3 million in 2016.
New data from music marketplace Discogs sheds light on the spending habits of record collectors, with increasing figures reported from over the past few years.
Proving it’s not going anywhere soon, vinyl was the most popular format with over 7.9 million sales. This included a rare Beatles record that sold for $10,502 USD ($14,000 AUD).
The 7-inch vinyl copy was one of 250 issued and featured Sir Paul McCartney’s name spelled incorrectly on the label as “Paul McArtney”.
A box set from the Pet Shop Boys was the second most expensive item sold on the site last year, reaching a figure of $7,337 (nearly $10,000 AUD).
The success of Discogs reflects a revived interest in the music industry and a longstanding loyalty to vinyl. Since its inception in 2000, the website has grown into a kind of Wikipedia for music lovers.
Big names like Tracy Chapman, Madonna, Daft Punk and Prince feature among the website’s best sellers. Yet so do more obscure sounds, with the most popular record of 2018 being a compilation album from the short-lived 90s electro label Scopex.
But it’s not only good news for record lovers. While vinyl is the most popular format amongst Discogs’ users, the site also saw a 29% increase in the number of cassettes sold last year.