Raphael Hui Si-yan may have spent more than HK$2 million (US$260,000) on his music collection, but experts and collectors say it is of mediocre quality and may now be worth less than a quarter of what he paid.
A creditor of the former chief secretary — who was declared bankrupt by the High Court last year and is awaiting a jury’s verdict in his corruption trial — has put Hui’s collection of about 11,000 vinyl records and CDs up for sale via an open tender, Sing Tao Daily reported Thursday.
Some experienced collectors examined the collection and said that, apart from a limited number of goodies, most of it was of only average quality.
They branded it a non-connoisseur collection and estimated it would fetch HK$500,000 at best.
Hui testified in court he was a big fan of music and would splash cash on vinyl records of classical music and operas. He said he spent more than HK$2 million between 2005 and 2010 on recordings.
A spokesman for the creditor said the firm is inclined to sell all the records in one go and is awaiting bids from potential buyers.
Ma Chung-chiu, editor of a hi-fi magazine, said Hui’s collection is more about quantity than quality and misses some spectacular pieces, such as the Living Stereo series published by US record firm RCA in the 1960s, as well as some lesser-known albums of Canto-pop singers.
He said the second-hand prices of most of Hui’s local albums would be less than HK$100 each.
The owner of a record shop in Mong Kok said Hui’s deep interest in opera was not shared by most people in Hong Kong, so it was doubtful if there would be many buyers for those recordings.
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