What is your vinyl collection worth?

Vinyl record collection

Everyone seems to be talking about what gems they've got hidden away in their vinyl collection. In 2014 one million vinyl albums were sold for the first time in almost two decades. Classic releases such as Led Zeppelin, Pink Floyd and David Bowie are all amongst the current top 10 vinyl chart. For those of a certain age, the merging of music collections at the start of a relationship was always a turning point. Discussions tended to include how the collection should be organised, should it be according to surname or genre? The digital age has perhaps simplified this relationship stage. However, what happens to the music collection when a couple decide to part?

It has been reported that a fifth of divorces are delayed due to disagreements over personal possessions.  In financial proceedings at Court both parties will be asked to give information about house contents and personal possessions. Part of the information required is stating the value of these items as if they were being sold on the open market.  Compared to other assets they may be worth very little. But often these items become the source of argument, particularly where items hold sentimental value. Whilst the financial value of the items may be little, the Court costs can be significant.  It can also be that the Court simply takes the view that expensive and protracted litigation in relation to contents and personal items does not justify the time and cost involved and will not deal with these issues.

This is where Family Mediation proves effective, not only for the child and financial issues, but also for those sentimental details such as the vinyl collection. Family Mediation provides a constructive and cost effective way of making decisions in the separation process.  It is where you personally set the agenda and you can choose what to discuss.  You decide what's important to you and what the priorities are.  Family Mediation is where you can make decisions about your children, your home, your savings and your pensions.  You can also talk about your family pets, furniture, items of sentimental worth and of course your impressive vinyl collection. 

For further information on how the Family Mediation process can benefit you please contact the MyMediation family team on 0113 320 2288 or email info@my-mediation.co.uk.