Wednesday, August 10, 2011

Sony London Warehouse Fire - Will There Become Another Shrine?

Go out and buy! Honestly, there's nothing here too look at - it's all happened before. In London thousands of records and CDs have been destroyed at a warehouse fire started during the riots of this past week. For some small labels its meant a complete loss of their retail inventory not already on store shelves.

But as I just wrote - it's all happened before:



During the riots following Martin Luther King Jr's assassination in 1968, a fire destroyed the Washington D.C. warehouse housing the entire stock for the Shrine label. This consisted of runs of twenty 45 RPM record titles. Very few had ever been shipped to stores. Most copies that got out into the world were sent as promos. The fire caused an end to operations for the struggling label. Today, most Shrine titles sell for between $2500 and $10,000.


To suggest an opportunity here might be . . . well, is . . . in bad taste. But in our job here at VRT there's lots we have to do that's in bad taste. This is our profession; how we make our living. Knowing history isn't a lofty calling. It keeps us from bouncing checks.


And, buying is what the labels are asking you to do to support independent music. Sure, it's all self-serving. Keep the following in mind next time you go to your local record store. In 1968, gold was $40.00 an ounce and just topped $1,800.00 today. A Shrine record sold in 1968 for $0.98.


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