Rare Velvet Underground Record Up For Grabs

(Gibson) A rare Velvet Underground record, which is known as the "Sceptor Studios" acetate, is scheduled to be sold at auction in July, according to a report from Rolling Stone.

Recorded in 1966, the acetate contains several songs later featured on the band's debut album, The Velvet Underground & Nico. The acetate is one of only two copies known to exist, with VU drummer Maureen Tucker in possession of the other copy.

The seller, who wishes to remain anonymous, purchased the acetate in 2006 in an eBay auction. "I bought it for $25,200, which, in my mind, was extremely undervalued for what the record was," he told Rolling Stone.

"I'm a big Velvet Underground fan, but to be honest, I've never been a big fan of this album. But the significance of the record for music is unmistakable. It's obviously a piece of musical history, but I wouldn't have purchased it then if I didn't see its potential as a financial investment." more on this story

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Copyright Gibson.com - Excerpted here with permission.

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