VINYL INSULT; Bankrupt DJ Read is forced to sell his pounds 1m record collection.
AS a top Radio 1 DJ of the 80s Mike Read spent years putting together one of the country's greatest record collections.
But now Read, 62, has been forced to sell off the vital vinyl - worth at least pounds 1million - after being declared bankrupt.
He handed over 350 boxes of records when he went bust for a second time earlier this year, owing unpaid taxes.
The set of 120,000 discs has been deemed "too important" to break up and is expected to have an auction guide price of pounds 750,000 - but experts estimate it will pass pounds 1million.
Valuation agent Hugh Thomson said: "This is proving to be one of the defining vinyl collections and is easily the most exciting to come on to the market in years."
"He is a pop guru so the collection is packed with valuable records. We have six experts working round the clock on it.
"Any big name in music over the past 60 years has been included. However, what will make it stand out are the rarities, promo discs, acetates and signed items.
He added: "Already we have identified over 100 Motown demos by artists ranging from Marvin Gaye to the Marvelettes."
Read has been declared insolvent twice. The first order in 2008 was annulled after he paid cash owed to Horsham council. But in February he was made bankrupt at Colchester county court, Essex.
The former I'm A Celebrity star lists his occupation as "DJ, broadcaster and author" in official papers. An insolvency practitioner has now taken legal control of his assets.
Read, who spent the summer hosting nights on cruise ships, refused to comment. He said in 2004: "I'm known for my enormous record collection and have about a million tracks. It's taken on a life of its own in a wing of my house." After regularly pulling in 17 million listeners in the 80s, Read left the BBC in 1991.
BANKRUPT Ex-Radio 1 DJ Mike Read RARE Valuer Hugh Thomson with collection
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|Publication:||The Mirror (London, England)|
|Date:||Sep 29, 2009|
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