Update on the World’s Greatest Music Collection

From our previous post on the World’s Greatest Music Collection that was on sale on Ebay, we bring you good news.

According to Yahoo! News, a buyer in Ireland won the auction for a little over $3 million USD.

Now Paul Mawhinney (pictured at right) can afford to retire. He owned and ran a record shop for many years, which is really one of the dream jobs for most music heads that I know. I think everyone here at 4080 has dreamed of doing something similar. What is more incredible is that it sounds as if this collection was his own, not even stock for the shop. I still can’t wrap my head around owning that much music.

“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.”

This guy is now legally blind and has suffered some strokes, so I’m happy he’s taking some time off. It sounds like he’s been through quite a bit, and I’m sure that the $3,000,000 he’s netted can probably last him pretty well for the next few years.

And for once it doesn’t sound as if this bid was phony. Unlike way too many other Ebay bids that have sprung up in response to media-hyped auctions, this one actually sounds like it may be legitimate. Yahoo! states that a bank has verified a $300,000 deposit and that the rest of the funds do exist. Great news for Paul! Ebay even claims this is one of the highest sales ever, in the same realm as the sale of some private jets! It’s hard to compare a lifetime record collection can compare to a Gulfstream private jet.

Just goes to show you that music can be a profitable venture, even if you choose to invest for your personal pleasure. Maybe some of you should rethink that switch to all-digital collections and start digging in the crates. It may let you retire early if you do it right.

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