DVD Talk Forum

DVD Talk Forum (https://forum.dvdtalk.com/)
-   Store Forum (https://forum.dvdtalk.com/store-forum-7/)
-   -   Second Spin closing? (https://forum.dvdtalk.com/store-forum/649927-second-spin-closing.html)

clintfunhome 02-25-20 09:56 PM

Second Spin closing?
 
I use Second Spin a lot for used stuff. I saw this tonight and now I'm worried. I can't find any info about them possibly closing but this sounds like a sign of them closing shop for good. Anyone have an info?

https://i.imgur.com/1HLXQzQ.jpg

Cardsfan111 02-25-20 10:30 PM

Re: Second Spin closing?
 
Yes, that doesn't sound good since the wording would certainly seem indicate it's a permanent decision.

I just logged in for the first time in forever. I've always had good experiences with them, though I haven't made a purchase since 2017. I took a stroll down memory lane looking through my order history going back to 2009.

andicus 02-25-20 10:36 PM

Re: Second Spin closing?
 
Shit. I hope not. I buy a lot from them, video and audio. Looks like I've been ordering from them since 2006, based on my order history.

It sucked when Djangos closed. This is worse.

mndtrp 02-26-20 11:05 AM

Re: Second Spin closing?
 
I don't think I used their online shop much, but I did live near the one in Denver for quite a while. I spent quite a bit of time and money in there, got a lot of music. That place closed down in 2017.

TomOpus 02-26-20 11:51 AM

Re: Second Spin closing?
 
Probably a sign of the shift to streaming. People trying to unload their disc collections with less people buying.

DJariya 02-26-20 12:02 PM

Re: Second Spin closing?
 
They probably have more used stock than what they were actually selling and probably decided they were completely tapped out continuing to add more with little return.

BobO'Link 02-26-20 01:57 PM

Re: Second Spin closing?
 
Doesn't look good... they apparently took down their Amazon store front:

JoeySeven 02-26-20 03:09 PM

Re: Second Spin closing?
 



Sunrise Records owner to buy U.S. retailer For Your Entertainment for US$10 million




For Your Entertainment, also called FYE, sells an array of vinyl records, DVDs, Blu-ray discs, toys and other items that cover a wide spectrum of popular franchises. It also operates both an FYE web store and Second Spin, another online retailer that specializes in used music and movies.

https://www.timescolonist.com/sunris...ion-1.24059857

I did not know FYE web store and Second Spin were owned by the same company, Now they have new owner.
It would suck if they got rid of Second Spin,I still buy from them when they have a good sale.

Why So Blu? 02-26-20 03:32 PM

Re: Second Spin closing?
 
Wow, that sucks. I don't buy from them but have sold to them for years. Looks like Decluttr will have to be my only option to sell in bulk going forward.

BobO'Link 02-26-20 03:33 PM

Re: Second Spin closing?
 
Interesting... I had *no* idea FYE and secondspin were the same entity. Apparently the new owner will continue to operate the FYE physical stores and is the one who purchased the UK chain HMV - which is still in operation. That story sounds positive... we'll see...

DJariya 02-26-20 03:39 PM

Re: Second Spin closing?
 
FYE being only worth $10M is not a good sign for it's future either. There is one store near me and I keep wondering how much longer before they shut down. They are always slow whenever I go there and a lot of their used product is very overpriced.


andicus 02-26-20 04:28 PM

Re: Second Spin closing?
 
Sunrise is not a bad retailer, but I'm not aware of their used sales.

Shit.

b2net 02-26-20 05:49 PM

Re: Second Spin closing?
 
https://cimg4.ibsrv.net/gimg/dvdtalk...9ffcea41df.png
I received an email from them 1/11 sharing they were offering 20% more cash on trade with an expiration of 1/26. If they were recently trying to up stock it sure seems odd at this time they are no longer accepting trades. Must be about the sale of FYE etc as already stated.

PhantomStranger 02-26-20 06:14 PM

Re: Second Spin closing?
 
It's a sign the used media selling business is in real decline. Too much supply, not enough demand. Things do become serious if deCluttr goes out.

Josh-da-man 02-26-20 08:48 PM

Re: Second Spin closing?
 

Originally Posted by DJariya (Post 13693862)
FYE being only worth $10M is not a good sign for it's future either. There is one store near me and I keep wondering how much longer before they shut down. They are always slow whenever I go there and a lot of their used product is very overpriced.

Yeah, that $10M purchase is an eyebrow raiser. I checked on google and they have 206 locations. That's less than $50,000 per store.

There used to be an FYE at a nearby mall. It was a large store, and they never seemed to many people shopping in there. All they had were grossly over-priced CDs and DVDs, a lot of picked-over used inventory, and some stuff like posters and gadgets that nobody seemed interested in.

DVD Josh 02-26-20 08:59 PM

Re: Second Spin closing?
 
I wonder if they are just going to merge the site with FYE as they sell used media as well.

Why So Blu? 02-27-20 12:10 AM

Re: Second Spin closing?
 

Originally Posted by PhantomStranger (Post 13693949)
It's a sign the used media selling business is in real decline. Too much supply, not enough demand. Things do become serious if deCluttr goes out.

DeCluttr has a heavy presence on Amazon and eBay, though.

clintfunhome 02-27-20 10:45 AM

Re: Second Spin closing?
 

Originally Posted by DVD Josh (Post 13694033)
I wonder if they are just going to merge the site with FYE as they sell used media as well.

I hope not. FYE has such a terrible website. You can't browse anything on there.

andicus 02-27-20 11:04 AM

Re: Second Spin closing?
 

Originally Posted by clintfunhome (Post 13694322)
I hope not. FYE has such a terrible website. You can't browse anything on there.

Absolutely. I checked out FYE last night, and it was very annoying. Also they seemed to have very little, in the way of used items.

SecondSpin has an excellent system with "Personal Favorites" including categorization of your available items.

Although it looks sort of dated, it's extremely functional.

The only thing I found lacking was the ability to get email notifications of new items from your list. This means I normally check the site multiple times a day. It's going to be a hard habit to break, but as they're not buying anything new, there's no reason for something to show up on my list.

TheBigDave 02-28-20 01:46 AM

Re: Second Spin closing?
 
That's a shame. SecondSpin often paid a decent price for used BD/DVDs.

DeanoBKN 02-28-20 09:25 AM

Re: Second Spin closing?
 
All the FYE's in my area have closed down except for 1, and while they still have a pretty large space to work with, their CD selection is almost non-existent at this point, with movies DVD/Blu-ray shrinking as well. They definitely let "trend" merchandise take over the store. Toys, plush, POP! Vinyl, and clothing is the vast majority of their stock now. Cool store to browse if you got time to kill, but rarely has anything you can't pick up online for cheaper. I still have memories of visiting this location at it's peak 20 years ago. It was practically an anchor store for the mall, with a decent sized arcade attached to a HUGE music/movie store.

PhantomStranger 02-28-20 11:09 PM

Re: Second Spin closing?
 

Originally Posted by DeanoBKN (Post 13694931)
All the FYE's in my area have closed down except for 1, and while they still have a pretty large space to work with, their CD selection is almost non-existent at this point, with movies DVD/Blu-ray shrinking as well. They definitely let "trend" merchandise take over the store. Toys, plush, POP! Vinyl, and clothing is the vast majority of their stock now. Cool store to browse if you got time to kill, but rarely has anything you can't pick up online for cheaper. I still have memories of visiting this location at it's peak 20 years ago. It was practically an anchor store for the mall, with a decent sized arcade attached to a HUGE music/movie store.

The one FYE near me pushes clothing more than anything else. I do occasionally find decent deals if I try hard enough looking through those bins near the front.

clintfunhome 02-29-20 10:33 AM

Re: Second Spin closing?
 
Second Spin also removed vinyl from their catalog it seems...

Alan Smithee 02-29-20 05:55 PM

Re: Second Spin closing?
 
FYE's company was THIS close to buying Tower Records and keeping it going in some form, but was outbid at the last second by a liquidator who just sold off everything and closed it (losing over a million dollars in the process.) After that they were still slated to take over the two main Tower stores in Sacramento, but backed out because they said "the leases weren't what we thought they would be"- one of those stores instead became a Goodwill, the other stayed a record store first as Russ Solomon's R5 Records then became Dimple when he retired, only to then close when its owners retired and was demolished in December.

Seems lots of record stores are going into clothes as a backup business, Rasputin is the last remaining local chain (mainly San Francisco area and part of central valley) and has been adding clothes in their stores. Whatever keeps them afloat I guess. Meanwhile it's been depressing here with no media stores at all, save for a few small ones that mainly concentrate on LPs. Keep hoping Rasputin will open just one store in Sacramento, they were rumored to move into one of the Dimple stores but both of those are still for lease.

b2net 03-04-20 12:05 PM

Re: Second Spin closing?
 
Latest email from them is offering an inventory reduction sale with 25% off no minimum. Full priced shipping still applies. The email also had an add for "Sell to us". I clicked that thinking maybe the no buy was temporary. Once at their website it still shows they are not buying any product.

Maybe just maybe they are trying to normalize their business model.

https://cimg6.ibsrv.net/gimg/dvdtalk...bebc8b2830.png

clintfunhome 03-04-20 03:00 PM

Re: Second Spin closing?
 
I was just checking the inventory last night. I would say they sold off 2/3rds of their inventory. For example, I was looking at their Horror collection, it was 19 pages long, and now it's 8. I'm pretty sure their total inventory was 19,000+ last night and now it's 4,000. The prices seemed to go up and this is a completely fake sale as well.

I made 4 seperate orders since 2/25 and they're all still "in process". Second Spin is usually extremely fast for me. I hope they don't get canceled.

js2shops 03-06-20 10:23 PM

Re: Second Spin closing?
 
There were all kinds of warning signs the past couple of weeks. The first was that coupons/sales became terrible and lasted for a week or more, when typically it was 3-4 days, tops. By the time it got to this "final" sale, the inventory was already obliterated. I'm willing to wager most of it was sold off to someone else in the past month or so.

This has all the hallmarks of the CompUSA closing, with prices going up. Fun.

I will miss this company, never had a problem with a used product, shipping was fast, and everything was dirt cheap. What a shame. Physical media is so dead. First Hastings, now this.

DJariya 03-06-20 10:51 PM

Re: Second Spin closing?
 
If you have a Book-Off in your area, they are probably your best bet now to sell and buy used product. I've sold there many times, although the prices are not great. You can basically get 50 cents for your DVDs, $1 to $2 for your BDs.

rjh_54 03-09-20 09:56 AM

Re: Second Spin closing?
 

Originally Posted by DeanoBKN (Post 13694931)
All the FYE's in my area have closed down except for 1, and while they still have a pretty large space to work with, their CD selection is almost non-existent at this point, with movies DVD/Blu-ray shrinking as well. They definitely let "trend" merchandise take over the store. Toys, plush, POP! Vinyl, and clothing is the vast majority of their stock now. Cool store to browse if you got time to kill, but rarely has anything you can't pick up online for cheaper. I still have memories of visiting this location at it's peak 20 years ago. It was practically an anchor store for the mall, with a decent sized arcade attached to a HUGE music/movie store.

Looks like we're both from Connecticut. I know the exact location you're talking about and I also used to frequent it, and at its peak I always walked out with tons of stuff. It's so sad how it's now just all overpriced "trendy" merch.

I always found many aspects of FYE / SecondSpin's business model to be completely off. Aside from the pricing, the worst was that they would decline products they were apparently "overstocked" on that they deemed worth only a penny (despite not having any copies in stock), and their used prices are not competitive at all. Even if they offered $0.20 for common ("overstocked") titles and sold them for $1.00 they'd still be making a small profit. Stack that with some of the deals they'd have (BOGO 50% off, etc) and maybe they'd move more discs. I haven't sold to an FYE store in about a year and a half. Last time I went I was told they were being more selective and trade-in values had gone down despite choosing store credit. After getting about $0.50 each for somewhat newer / still popular titles I decided I was pretty much done with them.

I will miss SecondSpin's online presence, though. I've been ordering from them on and off for about 15 years and their customer service was always efficient in resolving issues. Selling was always pretty easy too, and I always liked that I could sell off my more common titles that weren't worth selling on eBay or Discogs. The $0.35 resurfacing fee was a joke (there have been times were I bought CDs or DVDs that were marked as being resurfaced even though they clearly weren't).

I'd say I'll start selling to Decluttr more, but now it looks like even they're being super selective with titles they're accepting -rolleyes-

clintfunhome 03-09-20 09:14 PM

Re: Second Spin closing?
 
i received two of my last four orders. not sure why it took so long (maybe they laid off the staff slowing things down) but atleast i got them. the other two say they were shipped.

andicus 03-17-20 04:06 PM

Re: Second Spin closing?
 
We were all aware, but here is the dreaded confirmation. Damn it.

And FYE will continue, apparently. So why did Sunrise buy this, just to shut down SecondSpin, and keep the much shittier FYE going?

https://cimg9.ibsrv.net/gimg/dvdtalk...9c49e55946.jpg

BobO'Link 03-17-20 07:54 PM

Re: Second Spin closing?
 
While not unexpected it sucks. I've never been impressed with FYE as their used prices are typically on the high side with few coupon offers, if any. Looks like I'll be using decluttr far more often going forward.

DJariya 03-17-20 07:59 PM

Re: Second Spin closing?
 
Highly unlikely right now that anyone is buying back product right now.

b2net 03-18-20 10:06 PM

Re: Second Spin closing?
 
According to the email I received, they are offering 40% off now. They called it Good Buys Then Goodbye.


https://cimg8.ibsrv.net/gimg/dvdtalk...7dd376b00e.png

clintfunhome 04-02-20 08:10 AM

Re: Second Spin closing?
 
Lastest discount is 60% off. The prices are decent now but selection is still a bit lame

andicus 04-02-20 09:35 AM

Re: Second Spin closing?
 
Well, yeah. Selection is going to be poor because they're clearing out their stock.

I've got one item left in my favourites (from about 50, at one point), but it's not worth purchasing due to shipping cost.

joe_b 04-04-20 02:12 AM

Re: Second Spin closing?
 
I always loved Second Spin, but I hadn't placed an order with them in four years. The sales were usually decent, but I just decided to cut back on physical media in general.

I'm positive I still had a few bucks in store credit left on my account, but it's not showing up when I log in. Not too bothered, since it was barely enough to cover shipping and I don't see anything left worth buying anyway. Still, it's a shame to see them go. I'm thankful for the good deals they provided over the years.

clintfunhome 04-07-20 01:58 PM

Re: Second Spin closing?
 
They're officially closed now. I was able to make a couple of orders a few days ago when the 60% off sale started. Still a bummer.

asianxcore 04-07-20 03:17 PM

Re: Second Spin closing?
 
When visiting my family, my Dad & I used to love going to the Second Spin store in Costa Mesa, CA to pick-up films. Picked up some great used BDs & DVDs the last 2 times I was down there.

They always had the same stickers as FYE, so I assumed they were related.

Sad to lose another Physical Media Store for used items.

andicus 04-07-20 03:50 PM

Re: Second Spin closing?
 
Well, what a shit year this has been, so far.


All times are GMT -5. The time now is 09:56 AM.


Copyright 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.