Listening to an interview with the creator of Sotheby’s Mei Moses Indices this morning sparked an interesting question. Does the market for rare records correlate with the art market? Do they experience similar fluctuations? While I don’t have a comprehensive data set yet to draw definitive conclusions, I believe it’s always better to start exploring than remain uncertain. By comparing the Top 10 rare record sales with art auction prices from August to October, we can begin to see how these two markets relate.
Art Collectors and Record Collectors Collect for the Same Reasons
At first glance, it might seem that art’s masterworks and rare records don’t share much in common. The most sought-after artworks belong to those with unparalleled wealth, while rare records tend to fall into a more niche, albeit passionate, market. However, a deeper examination reveals some intriguing observations. While the art market remains far more established and the stakes are higher, the growing interest in rare records suggests that they may represent a smaller, but equally fascinating niche within the larger investment landscape.
Collectors in both the art and rare record markets share similar motivations, often viewing their purchases as cultural and historical investments. Trends in artists and enthusiasm for specific eras drive both fields, with the recent resurgence in vinyl reflecting similar forces at work in the art world. These include cultural revivals, a desire for tangible items in a digital age, and a renewed appreciation for the past. The rise of online art auctions, for instance, has significantly expanded both the quantity and quality of artworks available. This is a shift mirrored in the record-collecting sphere. Both markets also reflect broader economic conditions, booming during prosperous times and contracting during bust periods when collectors become more conservative in their acquisitions.
Top 10 Art Market Auction Sales August to October 2024
In October 2024, the art auction scene saw some of the most high-profile works, including David Hockney‘s Portrait of an Artist fetching a staggering AUD 28.4 million. However, the real standout month was September 2024, which saw Vincent van Gogh’s The Red Vineyard soar to AUD 49.28 million, a record-breaking sale. With other notable sales, including Monet’s Water Lilies at AUD 48.4 million, September stood out as a month driven by iconic works from legendary artists, further emphasizing the premium placed on historical significance. August 2024 was more subdued. The highest price was a comparatively modest AUD 1.95 million for The Door by David Hammons, with most sales falling in the range of AUD 540,000 to AUD 1.95 million.
Top 10 Art Auction Prices in October 2024
- David Hockney
Title: Portrait of an Artist (Pool with Two Figures)
Sold For: AUD 28,400,730 - Lucian Freud
Title: Benefits Supervisor Sleeping
Sold For: AUD 25,347,435 - Jeff Koons
Title: Balloon Dog (Orange)
Sold For: AUD 16,087,402 - François-Xavier Lalanne
Title: Les Lalanne – Oiseaux
Sold For: AUD 16,056,256 - Jean Dubuffet
Title: L’Hourloupe
Sold For: AUD 12,168,354 - Jean Dubuffet
Title: Cavaliers de la Nuit
Sold For: AUD 10,472,095 - François-Xavier Lalanne
Title: Moutons
Sold For: AUD 10,332,050 - David Hockney
Title: Sunflower
Sold For: AUD 9,087,188 - Richard Prince
Title: Untitled (Cowboy)
Sold For: AUD 8,227,763 - Zao Wou-Ki
Title: 15.05.70
Sold For: AUD 7,539,118
Top 10 Art Auction Prices in September 2024
- Vincent van Gogh
Title: The Red Vineyard
Sold For: AUD 49,280,000 - Claude Monet
Title: Water Lilies
Sold For: AUD 48,400,000 - Zao Wou-Ki
Title: 24.07.63
Sold For: AUD 19,470,000 - Alberto Giacometti
Title: L’Homme Qui Marche
Sold For: AUD 14,044,000 - Kim Whan-Ki
Title: Untitled (1958)
Sold For: AUD 11,130,000 - Alberto Giacometti
Title: L’Homme au Doigt
Sold For: AUD 10,654,000 - George Condo
Title: The Natural World
Sold For: AUD 9,042,000 - Alberto Giacometti
Title: Grande Femme I
Sold For: AUD 10,446,000 - Piet Mondrian
Title: Composition with Red, Blue, and Yellow
Sold For: AUD 10,360,000 - Alberto Giacometti
Title: Le Chien
Sold For: AUD 8,392,000
Top 10 Art Auction Prices in August 2024
- David Hammons
Title: The Door
Sold For: AUD 1,950,000 - Sidney Nolan
Title: Ned Kelly Series
Sold For: AUD 1,000,000 - Frederick Ronald Williams
Title: Moorland Landscape
Sold For: AUD 1,395,000 - Nicholas Chevalier
Title: The Emigrants
Sold For: AUD 1,395,000 - Agnes Pelton
Title: The Cloud
Sold For: AUD 890,000 - Frederick Ronald Williams
Title: Autumn in the Bush
Sold For: AUD 1,200,000 - Conrad Martens
Title: Sydney Harbour
Sold For: AUD 1,200,000 - Franz Arthur Bischoff
Title: California Landscape
Sold For: AUD 700,000 - Brett Whitely
Title: The Australian Landscape
Sold For: AUD 910,000 - Don Binney
Title: Native Birds of New Zealand
Sold For: AUD 540,000
Top 10 Rare Record Sales August to October 2024
The rare record market followed a somewhat similar trajectory. In October 2024, the market saw a sharp uptick in prices, driven largely by Beatles-related items. The highest price was AUD 19,600 for a fully signed copy of Please Please Me, with other notable sales including a signed copy of Love Me Do at AUD 13,720. Prices for rare vinyl ranged from AUD 6,410 to AUD 19,600, reflecting a market still heavily influenced by iconic artists.
September 2024 also marked a high point for rare records, with Soft Sexy Soul by Susan Phillips selling for AUD 32,000. This was the highest recorded price in the three months, with other significant sales including AUD 8,645 for a rare album by the World’s Experience Orchestra and AUD 7,990 for a hard-to-find Introducing the Beatles mono version. While the top-end of the market showed strong figures, the prices for other items in September ranged from AUD 6,182 to AUD 32,000, reflecting a consistent demand for limited and unique releases.
In August 2024, the market was quieter. The highest price was AUD 12,155 for Leaf Hound‘s Growers of Mushroom followed by AUD 11,769.87 for Romona Collins’ You’ve Been Cheating. Overall, the prices were lower than in the following months.
Top 10 Rare Record Sales – August 2024
- Leaf Hound – Growers of Mushroom LP (1971) – A$12,155.36 (Discogs)
- Romona Collins – You’ve Been Cheating 7″ (1970) – A$11,769.87 (Discogs)
- Billy Nicholls – Would You Believe LP – A$10,422 (Omega Auctions)
- Misfits – Horror Business 7″ (1979) – A$8,195.00 (Discogs)
- Sahib Shihab and the Danish Radio Group – Sahib Shihab and the Danish Radio Group LP (1965) – A$8,184.42 (Discogs)
- Damon – Song Of A Gypsy LP (1968) – A$7,670 (eBay)
- Clefftones DOO WOP 45 – The Masquerade Is Over/My Dearest Darling – A$7,016 (eBay)
- Kiss – Kiss LP (1974) – A$6,296.75 (Discogs)
- Robert Johnson – Me and the Devil Blues / Little Queen of Spades Blues (78 RPM) – A$6,323 (eBay)
- Negative Approach 7″ 1st Press (1982) – A$5,703 (eBay)
Top 10 Rare Record Sales – September 2024
- Soft Sexy Soul – Susan Phillips (1971) – A$32,000 (Discogs)
- World’s Experience Orchestra on J-World BSE 1 – A$8,645 (eBay)
- The Beatles – Introducing the Beatles US Orig ’64 VJ Mono Version 2 Sticker Sealed – A$7,990 (eBay)
- Feelings – Jay Richford & Gary Stevan (1974) – A$7,208 (Discogs)
- The Smiths – Hand in Glove – A$7,106 (Omega Auctions)
- Here Without You – Doc Peabody (1973) – A$7,200 (Discogs)
- Kiss – Kiss (1974) – A$6,800 (Discogs)
- Buddy Smith – When You Lose The One… Northern Soul 45 – A$6,264 (eBay)
- Cherry Five – Cherry Five (1975) – A$6,182 (Discogs)
- The Velvet Underground & Nico LP – A$5,433 (Omega Auctions)
Top 10 Rare Record Sales – October 2024
- Fully Signed Copy of Please Please Me by The Beatles – A$19,600 (Omega Auctions)
- Love Me Do 7″ Original UK Demo (Signed by McCartney) – A$19,600 (Omega Auctions)
- Fully Signed Copy of Love Me Do by The Beatles – A$13,720 (Omega Auctions)
- Claude François – Très RARE édition étrangère cassette audio album (1971) – A$10,771 (eBay)
- Please Please Me LP (First UK Stereo ‘Black and Gold’) by The Beatles – A$9,996 (Omega Auctions)
- Johnny Griffin – Blue Note 1533 – A$9,001 (eBay)
- Standing Stone by Oliver Chaplin – A$6,410 (Discogs)
- Love Me Do DEMO PROMO by The Beatles (1962) – A$8,556 (eBay)
- White Album Original UK Stereo Number 0000029 by The Beatles – A$7,252 (Omega Auctions)
- Magical Mystery Tour Acetate (Formerly Owned by John Lennon) – A$7,056 (Omega Auctions)
Rare Records Less Volatile?
When comparing the two markets, it becomes clear that art auctions experience larger fluctuations, with October and September 2024 showing dramatic price surges due to the sale of historical masterpieces. These fluctuations in both the art auction and rare record markets reveal notable contrasts. In the art market, there was an enormous 2,426% increase from August to September, driven by the sale of high-profile pieces. However, this was followed by a significant 42% decrease in October, as prices for top artworks dropped from September’s record highs.
In comparison, the rare record market saw a more moderate 163% increase from August to September, reflecting a surge in prices for unique and sought-after records like Soft Sexy Soul by Susan Phillips. Yet, similar to the art market, there was a 38% decrease in October, with top record prices falling back, particularly for Beatles-related items. Overall, both markets experienced strong growth in September but showed a tendency toward correction in October, with the art market exhibiting more extreme swings than the rare record market.
Similar Markets, Different Scale?
As both a record store owner and a candidate RICS Chartered Surveyor in arts and antiques, I see a promising future where rare records continue to rise in value and gain respect as an alternative asset class. Whether featured at high-end auctions or in the hands of passionate collectors, records hold a legitimate place among collectible assets. While they may not match the art market in scale, the reasons people collect rare records and the contours of the overall markets share many similar traits. While I’m cautious about predicting a major shift, I believe the potential correlation between rare records and the art market is something worth watching.
Exploring the intersection of art and rare records as collectibles, I’m intrigued by how the rise in rare records might parallel the history of the art market. Remarkably, the billion-dollar art auction industry was once a niche pursuit, which, over more than a century, became increasingly organised and mainstream. This transformation mirrors shifts in the music industry—particularly during the mid-20th century when records first became widely affordable and accessible on an international scale.
Final Thoughts
Though I haven’t focused on antiques here, it’s fascinating to consider that collecting antiques isn’t all that different from collecting records. For instance, before dedicated record stores became widespread later in the 20th century, records were often sold alongside record players in department stores and advertised in magazines as “home furniture.” Some may object to the idea of records as décor rather than listening items, but this tradition dates back to the early days of recorded music.
I hope these ideas have sparked some interest! Until next time!
