Interesting development

Combination of things coming together in a perfect storm situation. Old records are like postage stamps collectible even if only due to not being made any more. For decades the supply was plentiful relative to demand. But now at the same time demand is growing, supply is dwindling. Demand is growing from a combination of more people realizing the superiority of vinyl, greater availability of turntables and gear to play them with, and now also people cooped up with more time and being scared into spending it alone and at home. 

As if all this isn't enough we also have not only the US but governments all over the world printing money by the trillions. Audiophiles may not get it, but not many have to, and anyway who says you have to be an audiophile to want to buy something that's going up in price?

Like I said just last week, when I dropped and scratched my copy of New Basement Tapes Lost on the River I thought no big deal buy another one, until I found the only 2 copies on discogs were not the $35 mine cost but now go for $200.

Have to use this to take another well deserved shot at digital. All kinds of CDs out there, anyone seeing price appreciation in digital? Yeah, what a joke. Which goes to show all the other reasons cited are indeed reasons, but ultimately are being driven by superior sound quality. Unlike CD, people actually enjoy listening to records- and prove it where it counts by being willing to pay more for them.

@millercarbon  While your post explains some of the rise in value, it doesn't totally explain the considerable rise in value of the reissues, some of which I mention in my OP. Remember, some of these will be available again ( after repress) at pricing that is at the original retail on some of the usual retailer sites. Is it because folk have to have the album now...and cannot bear to wait for any amount of time?? Or is it something else?

Look at the demographic that spends lots of money on vinyl records.

I grew up with vinyl and I experienced all of its problems, so I am a young member of the baby boomer generation that likes CDs and downloaded digital music. 

Although my son is not an audiophile (yet), he and many of his generation made a great deal of money as entrepreneurs. They are buying vinyl in droves and others are buying incredible digital systems. Companies such as MSB Technologies are catering to this new crop of Silicon Valley millionaires for digital ($84K DAC?) and this generation of vinyl-lovers are grabbing all of the content that they can. It is an artificially-inflated market and the suppliers' profit by offering a limited product, keeping subsequent prices high, even of reissues.