I did this in anticipation of a move partway across the country. There was a lot of dross that I had accumulated over the years- stuff that I wasn't going to listen to, records for which I had better pressings. I peaked at about 17,000 records and gradually began getting rid of them-- gave away several thousand, had a guy willing to take them, market them on Ebay or whatever and share proceeds-- he handled all the listings, shipping, etc. It was "found" money. I winnowed it down to about 5 or 6 thousand by the time I got to packing and moving-- the last few days before the truck came, and even after it left, there were still a few thousand records that my 'guy' took just to relieve me of them. I gave him my old VPI cleaning machine, a bunch of fluids, applicator pads and the like and wished him luck. He was a lifesaver.
Of course, that hasn't prevented me from buying more records since then. But, you are right, @Elizabeth-- it gets you a better collection by culling. I think I still have too many records in the sense that I'm chasing new and different sounds, so a lot of what I acquired and still cherish doesn't get listened to as often. But, there's little point in selling it. Even some of the expensive, collectible pressings, while costly to buy, don't bring as much when it comes time to sell. Buying records isn't a good investment, even though I've gotten some real "scores" over the years in terms of uber records for almost nothing. That means little in the end, though, other than bragging rights.
Of course, that hasn't prevented me from buying more records since then. But, you are right, @Elizabeth-- it gets you a better collection by culling. I think I still have too many records in the sense that I'm chasing new and different sounds, so a lot of what I acquired and still cherish doesn't get listened to as often. But, there's little point in selling it. Even some of the expensive, collectible pressings, while costly to buy, don't bring as much when it comes time to sell. Buying records isn't a good investment, even though I've gotten some real "scores" over the years in terms of uber records for almost nothing. That means little in the end, though, other than bragging rights.