It began with the collection of the promoter Bill Graham, and added multiple other music and memorabilia archives.

Wolfgang's was founded by William E. Sagan, who purchased a warehouse filled with Bill Graham Productions memorabilia in 2003, including taped concert recordings, for about $6 million.

In an article about Vault Radio, The Washington Times noted "lovers of classic rock will not find a better historical source for their favorite music anywhere on the Internet."

[4] It was called "the most important collection of rock memorabilia and recordings ever assembled in one business" by The Wall Street Journal.

[1][6] In 2008, works by artists Lynyrd Skynyrd, Bob Marley and Jimi Hendrix that were owned by Wolfgang's became available through an agreement between the company and Universal Music Group.