What a sad story. It's incredible there's no university or cultural institution interested in buying the collection. i guess they don't have the money. He'll probably have to donate it to some institution in order to save it.
Worth $50 million and he's asking $3 million.
That is insane.
I literally find it hard to believe that NO ONE has made an offer.
I'm confident he'll sell it eventually. Someone out there will buy this.
As far as value. If it he cannot sell it for $3 million, then it is not worth $50 million. It is not worth $3 million. Pricing things out of a book, when reality says otherwise is a fool's game.
Also, anyone that bought this (he is now offering it at $1.5 million) would need a massive Indiana Jones size warehouse to store it.
Finally, from reading the posts about him, it seems that he has no real idea of value. The Rolling Stones album that is worth $5 - $10,000 was recently offered on ebay for $2,000. Many of the more common records may be "worth" $5 each, but you can get them free at yardsales (think Beegees, Carpenters, or Conway Twitty).
The sheer scope of the collection has value, aside from the values of the individual records. But that's a difficult thing to get people to see. That's why we have libraries and archives, because most normal people don't want a copy of every record in the world. Or most of them, anyway.
To break up that mountain of vinyl would be tragic. What surprises me is that some billionaire musician or producer or video game designer hasn't bought the collection. Someone who could afford to warehouse it forever.