In Germany we have the Darmstadt Jazz Institute, I know the director. Their problem is storage space. Since they are rarely asked for, the LPs are already in a separate storage facility out of town. It is similar to libraries purging books that are no longer asked for.
Only exception is the German national Library, which also has a music branch in Leipzig storing LPs and CDs as well and are obliged to keep one copy of everything published in Germany - they are state financed. All publishers must send them reference copies. Buying private collections would require funds, which are limited.