Estate auctions are where a bargain hunter can get a great deal, or a very expensive lesson. On the @VintageUpFinds YouTube channel, Dwight opens a video with a warning that this one was a big swing. “This is my last great adventure at an estate auction and I really went big on this one, guys. Spent a lot of money. Fingers crossed that it makes a return.”

The item is a Sanyo Phonosonic, a record player released in 1973. And the price? “You’re not going to believe what I paid for it,” Dwight says. The answer is $800.

What Dwight Bought

According to Dwight, the Phonosonic plays both 33 and 45 RPM records and also has an AM/FM radio. At least, that is what it says on the unit. Dwight swears that it only picks up FM when tested at home. That is the kind of honest detail that matters when it is time to sell, since any buyer will want to know what actually works.

The Numbers

Here is how Dwight lays out the math. The player cost $800 at the auction. It is valued at somewhere between $1,800 and $2,800. Dwight plans to list it for $2,200 and says the lowest price that will be accepted is $2,000.

Why not aim for the top of the range? Dwight explains that the player has some damage on the bottom, with a few scrapes. Dwight does not expect to see $2,800 because of those marks, but still believes the record player is very collectible.

If the plan works, the profit is large. Selling at $2,000 would be $1,200 above the purchase price, and $2,200 would be $1,400 above it, before any auction fees, shipping or selling costs come out. Whether it sells at that price is the part still to be seen.

Why A Big Gamble Can Still Be Smart

Spending $800 on a single item is a different game from picking up a coffee pot for $3. A few things make a big purchase safer.

• Know the value range first. Dwight works from a range of $1,800 to $2,800, and the price paid is well below the low end.
• Price for the flaws. Instead of hoping buyers will not notice, Dwight lowers the expectation because of the scrapes.
• Set a floor. Deciding in advance that $2,000 is the lowest acceptable price keeps emotions out of the negotiation.
• Test what you can. Finding out the radio seems to work only on FM is far better than a buyer finding out first.

What To Know Before You Bid At An Estate Auction

Estate auctions can be exciting, and it is easy to get carried away when bidding starts. A few habits help every bidder, whether it is a first auction or the fiftieth.

Look over the item in person if the auction allows preview time. Ask whether it has been tested and whether there is any known damage. Decide on your top bid before the auction starts and stick with it. Remember that auctions often add a buyer’s fee on top of the winning bid, and that heavy items like a console record player can be costly to move. If you cannot haul it yourself, find out what delivery or pickup will cost.

Dwight’s closing question is one every sale-goer can answer for themselves: “If you saw this at a yard sale, would you jump on it or would you pass it by?” A vintage record player from the early 1970s can be a conversation piece as well as a payday, but only if the numbers work and the buyer is out there.

Selling A Big Item Takes A Plan

Pricing is only half of the work. A record player is bulky and breakable, so how it gets to the buyer matters. Many sellers of large items prefer local pickup, which saves on shipping and avoids damage in transit. If you do ship, use sturdy packing, protect the corners and surface, and photograph the item before it goes in the box. Take pictures of the scrapes too. Showing the flaws up front, as Dwight does by talking about them openly, builds trust and keeps buyers from feeling surprised later.

It also helps to be patient. A pricey collectible may not sell in a day or a week, and listing at a firm price with a clear floor, as Dwight plans to do, lets you wait for the right buyer without giving it away.

Why Vintage Stereos Draw Fans

Record players from the 1970s have a following among people who want to listen to vinyl the way their parents or grandparents did. Many of those older units were built as furniture-style pieces with a record deck, a radio and speakers all in one cabinet. For some buyers, that look is the appeal. Dwight calls the Phonosonic very collectible, and the $1,800 to $2,800 value range suggests there are people willing to pay serious money for the right one.

Whether the gamble pays off or not, the video is a useful look at how a reseller thinks. Know the value, price for the flaws, and decide in advance what you will accept.

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