Buy a London record shop on eBay

The owner of a landmark London record shop has put it up for sale via eBay at a Buy It Now price of £300,000 – but he’s warned those interested not to expect a financial return.

Tim Derbyshire opened On The Beat Records in 1979, but says the collectable-vinyl business will close if no new owner is found.

In the auction listing he explains: “If you’re at the stage in your life where you don’t have to worry about making money, but can live a bohemian life, meet interesting people every day and the occasional rock star, here’s your chance to take over the oldest record shop in Swinging London.

“I’ve given it my heart and soul for all these years but it’s time for me to step down and let another passionate music lover take over. You can make history.

“If you’re mad about music, love vinyl and want to keep the dream alive, here’s your chance to take on an Aladdin’s cave of musical gems. The Beat must go on – keep my dream alive!”

Four offers have so far been made for On The Beat Records, which is on sale as a going concern with all stock. The auction closes on November 25.