The Velvet Underground single sets new auction record
In 2023, the vinyl comeback continued with 5.9million units sold across the UK, beating the previous year’s total by almost half a million. These figures reflect only the tip of the iceberg, with a thriving second-hand market on sites such as eBay and Discogs. Recently, a rare vintage copy of The Velvet Underground and Nico single ‘All Tomorrow’s Parties’ set a new auction record.
The Velvet Underground’s debut album, released in 1967, didn’t sell particularly well at first. However, its highly influential music and Andy Warhol’s iconic ‘Banana’ album cover ensured its lasting legacy. As Lou Reed and John Cale prospered in solo careers, this early masterpiece with the Velvets snowballed through the decades to become one of the 1960s’ most celebrated albums.
Of course, fans can very easily purchase a new reissue copy of the album online or at their local HMV store, but where’s the fun in that? Instead, many vinyl collectors seek early pressings, which, if scarce, can cost a pretty penny. The first ‘peelable banana’ copies of The Velvet Underground and Nico can fetch several hundred pounds depending on condition, but what about the ‘All Tomorrow’s Parties’ 7″ single?
One may assume that buying two songs (‘I’ll Be Your Mirror’ is on the B-side) from an album will have a lesser hit on the wallet. In this case, I’m afraid that’s not true. ‘All Tomorrow’s Parties’ was released as a promo single in 1966. It is unclear exactly how many were originally pressed, but there are fewer than ten known copies surviving today. Much of the keepsake’s appeal is the record sleeve, which was never released commercially. Some collectors rumour that the sleeve originally came without the record inside.
These discs are in high demand with very little supply, leading to astronomical sums of money changing hands whenever a copy crops up.
Discogs recently reported a record-breaking sale of $30,000 for one of these rare gems. This marked the largest transaction in the history of Discogs and likely a competitor for the most expensive single ever sold. The previous record on Discogs was an unreleased Sex Pistols single, which sold for $15,625 in 2018.
The seller reportedly listed the item as pick-up only. The purchaser, justified in not trusting the mail with enough money for a small home deposit, took a flight to meet the seller in person. Although the record is in good, listenable condition, one would be brave to wear those grooves.
Listen to The Velvet Underground’s ‘All Tomorrow’s Parties’ below.
Never Miss A Beat
The Far Out Music Newsletter
All the latest music news from the independent voice of culture.
Straight to your inbox.