This shop is one of the only few remaining 2nd hand record stores in the city. It's part of a small chain that operates in London and has about 15 shops dotted about the capital. Despite that, and because of it's business model, each shop is very much a local concern.
Here's how it works: Members of the public take in their unwanted records, CDs, Videos, DVDs, Books and Comics and the expert staff provide a valuation. If the seller accepts this valuation they either take cash or exchange vouchers and their stuff immediately goes into the shop's stock. Each item is individually priced based on it's book value and likelihood of selling, so for example 2 identical records may go out at different prices if one is slightly marked, or if one or the other is an original pressing. Once the stock goes out on sale it then gets periodically marked down in increments of £1 (usually on a fortnightly basis), so each price sticker will show what it was originally put out for, and also how many deductions have happened. A few years ago I got an original pressing of a Faces LP for £4 - it had originally started at £40 and had somehow been missed by other record-buying Brummies for several months until I came along.
Once stock reaches a point (usually 50p) at which it hasn't sold, it goes down into the bargain basement. Down there you can get 7"s for 10p, 12"s for 50p and LPs for £1 - and there are a LOT of records down there, so give yourself a few hours. read more