Auction News: SongVest offers royalties for ’80s R&B hits by Reggie Calloway

SongVest, a company which auctions portions of song rights as collectibles, has announced that its next major online auction will include R&B and dance hits written by Midnight Star founding member Reggie Calloway. Scheduled for Dec. 12-19 at songvest.com, the auction will include songs written for Midnight Star, The Calloway Brothers, LeVert, Klymaxx and Gladys Knight And The Pips.

SongVest acts as a broker between music writers and bidders to offer “music memorabilia with a paycheck” to fans, collectors, and investors. When a songwriter is compensated for the performance, sale, or use of their song, so too will winning bidders at SongVest auctions. Each buyer also receives a personalized RIAA certified Gold or Platinum album with handwritten lyrics. Past SongVest auctions have included the rights to songs recorded by Aerosmith, Bon Jovi, Carrie Underwood, Ringo Starr, Ozzy Osbourne, Natalie Cole, Enuff Z’Nuff, and The Monkees.

For its December auction, SongVest has partnered with Calloway to offer bidders 5-50% of his Writer’s Share for each of the following songs:

Calloway:

  • “I Wanna Be Rich”: #2 on the Billboard Hot 100 and #5 on the Billboard R&B chart

Midnight Star:

  • “Operator”: #1 on the Billboard R&B chart for five weeks and #18 on the Billboard Hot 100
  • “Freak-A-Zoid”: #2 on the Billboard R&B chart for four weeks, #44 on the Billboard Club Play Singles chart, and #66 on the Billboard Hot 100 chart
  • “Wet My Whistle”: #8 on the Billboard R&B chart and #15 on the Billboard Club Play Singles chart
  • “Electricity”: album track on the multi-platinum selling No Parking On The Dance Floor album

LeVert:

  • “Casanova”: Soul Train Award winner; nominated for the R&B Song of the Year and Best R&B Performance Grammy and Favorite R&B/Soul Single American Music Award

Gladys Knight and the Pips:

  • “Love Overboard”: Grammy award for R&B Vocal Performance, #1 on the Billboard R&B chart, #4 on the Billboard Hot Dance Club Play chart, and #12 on the Billboard Hot 100 chart.

Klymaxx:

  • “Meeting In The Ladies Room”: #4 on the Billboard R&B chart, #22 on the Billboard Hot Dance Club Play chart, and #59 on the Billboard Hot 100 chart

In addition to sharing in the royalty stream the songs generate, high bidders will also receive one-of-a-kind platinum-album awards featuring handwritten and signed lyrics.

The auction will begin at 3 p.m. Eastern Standard Time Saturday, Dec. 12, and end at 3 p.m. EST Saturday, Dec. 19. Fans can register now at http://www.songvest.com to learn more about the revenue history for each song and get a glimpse behind the scenes at how and why the songs were written.


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