Velvet Underground acetate sells for $25k in second auction

An ultra-rare Velvet Underground acetate recording, which caused plenty of buzz when it was originally sold for more than $155,000 to a bogus bidder on eBay, was resold for $25,200.
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An ultra-rare Velvet Underground acetate recording, which caused plenty of buzz when it was originally sold for more than $155,000 to a bogus bidder on eBay, was resold for $25,200. The auction ended Dec. 21 with considerably less fanfare than the first frenzied sale. The winning bidder?s name or eBay identity was not released.

A total of 45 bids were made on the rare acetate, which was found by a Montreal record collector, Warren Hill, at a New York yard sale in 2002. A total of 253 bids were made on the recording when Hill listed it on eBay the first time. That sale ended Dec. 8 with a bogus bidder entering the highest bid.

{Editor's Note: Following is a story by Eric Isaacson on the

discovery of the acetage four years ago and the events that led up to

the decision to sell it. The story originally appearedin the Dec. 8

editon of Goldmine magazine.}

In September 2002 Hill, a Kenny Rogers Roasters employee

in Montreal, Canada, was perusing a box of records at a Chelsea, N.Y.,

street sale when he happened upon a nice Lead Belly 10-inch on

Folkways, a water-damaged copy of the first Modern Lovers LP on

Beserkely, and a brittle 12-inch piece of acetone-covered aluminum with

the words ?Velvet Underground. 4-25-66. Att N. Dolph? written on the

label. He purchased the three records for 75 cents each.