This is the kind of story I love. In Sept 2002 a guy from Montreal named Warren Hill was at a Chelsea, New York Street sale where he picked up a couple records: a Leadbelly 10", a Modern Lovers LP and a record marked "Velvet Underground. 4-25-66. Att N. Dolph". He paid 75 cents for each album.So after doing a bit of research it turns out that the record is extremely rare. It was created with a record cutter in the scepter studios where VU record their first record in 1966. It turns out this is a copy that Andy Warhol used to shop around record labels looking for a deal, also this is how he intended to record to be released.
The record has completely different versions and mixes of 9 of the songs that would appear on "The Velvet Underground & Nico". This is pretty amazing, VU are definitely one of the most important and influential rock bands of all time.
The record is on ebay so if you have more than $110,000 lying around you can grab it.