Thinking about selling my CD collection = MP3


I am having serious thoughts about selling my 1,500 or so CD collection and going to MP3 playback format. At one time I use to have the time and sit in front of my system and really listen, I mean sit and really get into the music. Now with two kids, and the band that I play guitar in, there is simply no time. My listening consists of in the car or in the house while I am doing something else. I am thinking about ripping my collection to my computer, selling the CDs and my CD player and using a large storage MP3 player as my source. Any thoughts? Anyone else out there do this?
gretsch6120
Gretsch, I think you're missing the point. No one has said that MP3 or digital files are not the wave of the futre. They are saying two things:

1. Ripping your cd's to computer and then selling the disc is illegal.
2. Hang on to your cd's. When you get older you will want to look at back at your collection of discs.
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S7Horton - I beleive that I am understanding their point(s), well taken at that. No, my mind is not (quite) made up at this point. Just wanted to generate discussion on an interesting subject.
I'm having a really hard time understanding these legal issues:

First, I've always understood that it's perfectly legal to make a single copy of a CD (purchased retail) for one's own use -- whether it's on your server, iPod, optical disc or cassette.

Second, I don't think there is anything illegal about selling a CD used (originally purchased retail) and keeping the one copy you made legally. Are you supposed to destroy your legal copy if you sell the original disc used? Talk about a law with no teeth! Why do they even bother?
I'm not sure you can really say there is "no teeth" when the RIAA is out there suing people for downloading mp3s.

The legal issue, if I remember a prior thread on this correctly, is that the act of copying is either fair use or not, and today's copyright law tends to measure whether or not its fair use at the time the act is committed. Thus, making a copy of a disk you own is probably fair use. Making a copy of a disk you do not own is not. There is also the first sale doctrine that permits you to sell a CD you have legally acquired. Put those together and you may "legally" have the right to copy a CD you own and sell the original. I happen to think that if a judge was called upon to decide whether you not a person copying a 1.5K collection of CDs and then selling the originals was engaged in "fair use," s/he might find the copying was *not* fair use.

Regardless of the pure legality or illegality of the act, however, seems to me that fairness to the artist dictates not keeping a copy if you sell the original.