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Velvet Underground Cleans Up on eBay

Oct. 27 2008, Published 7:07 a.m. ET

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B-A-N-A-N-A-S Not cheap Unsatisfied with the remastered, remixed, special edition, and boxed-set versions of the Velvet Underground & Nico's critically worshipped, widely imitated, Warhol-illustrated first album, someone just dropped an assload on an even rarer edition. A 1966 acetate of the record just sold for $155,401 on eBay. Originally purchased for $0.75 at a New York flea market, if the sale goes through, it will now belong to "mechadaddy."

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A spate of articles in Rolling Stone, Mojo, and other outlets helped run up the price, as the excellently named co-seller, Oakland, California, record store owner Scott Wax told the San Francisco Chronicle: "My original guess was that it would sell for around $10-$20,000 ... but then, after all the interest, I thought maybe $20,000-$40,000."

The lesson? Stay away from eBay when you're high.

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