Archive for Saturday, February 23, 2008

Record store owner sells collection for $3M

February 23, 2008

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— A man says he can now retire because someone bought his massive record collection on eBay for the asking price - $3 million.

A buyer from Ireland agreed to shell out $3,002,150 for the collection of nearly 3 million vinyl albums, singles and CDs, owner Paul Mawhinney said Thursday.

The winning bidder has already deposited $300,000, and a bank has confirmed that he has enough money to buy the collection, Mawhinney said.

The price tag is one of the highest recorded by eBay Inc., said Karen Bard, a spokeswoman for the online auctioneer. A Gulfstream II jet once sold for $4.9 million, she said.

On Thursday, the 68-year-old Mawhinney closed Record Rama, which opened in Ross Township in 1968. He said he wants to spend time with his wife, three children and five grandchildren.

"I am legally blind. I had a couple of strokes a few years ago ... and it's time at my age to think about doing something else with my life," he said.

The collection includes more than 1 million albums, 1.5 million singles and 300,000 CDs, Mawhinney said.

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