The Garrard 301 Transcription Turntable was the first transcription turntable from the Garrard Engineering and Manufacturing Company that supported all extant commercial playback formats – the 33, 45 and 78 rpm records of the time. The first model was called the Garrard 301. Oil and grease bearing versions were made. Which version is sonically superior is a hotly debated point. The later 401 was nearly identical mechanically, but with a redesigned exterior, more powerful motor, slightly different eddy current braking speed control and different turntable thrust bearing. Both models were used by the BBC and in commercial radio stations, mostly in Europe; the 301 and to a lesser extent the 401 were also exported around the world. Production of the 301 started in 1953; the 301 was launched in 1954. The 401 was introduced in 1965 and produced until 1976. Long out of production, Garrard 301 and 401 model turntables today are sold on the used market for as much as ten to twenty times their original cost.