Comment on TuneSpan

@valexa TuneSpan allows you to easily pick and choose what you want to move (whole artists, a playlist, any random set of tracks, etc), as well as restore your tracks at any time. With the help of TuneSpan Helper you also can be notified when tracks will not be available in iTunes or see the status at anytime in the menubar. And it's free.

If you want to relocate the entire contents of your library, TuneSpan may not be for you and valexas solution may be useful, in that case this link also may be helpful: