The Plot, and Profits, Thicken: Online Book Selling Tips
Whether or not you're passionate about books, there's bucks to be made selling them online. Our expert shares insider secrets for success.
First, Make a DecisionOften new booksellers attempt to handle only what interests them. Some sellers specialize in rare and collectibles, others best sellers, romance paperbacks, textbooks, etc. Still others focus on niche fields such as children's books, military, maritime, history, sports, modern fiction or dozens of other specialized fields. However, given today's ferocious competition for books, becoming a "specialist" has become increasingly difficult. Many, if not a majority of online booksellers, myself included, are what we call "generalists," selling anything for which there is a demand, regardless of age, rarity or topic.
Then "Beat the Bushes"After deciding what you want to sell comes the tricky business of finding stock. Aside from those who deal in remainders and bulk lot closeouts, bargain-seeking booksellers troll early morning flea markets, thrift shops, garage and house sales, cruise neighborhoods on trash pick-up days, and yes, even dumpster dive. The more reliable sources are book auctions, library book sales, estate sales, brick-and-mortar bookstores and eBay, particularly auctions. Professional book sellers constantly surf eBay book auctions as many casual eBay sellers do not research the values of books they sell and frequently bargains that can be listed at many times the eBay price slip through the cracks.
Jacket Required: Condition is EverythingYears ago when seeking a first edition copy of William Faulkner's "A Light In August," I found two copies in a seller's catalog. One was listed as being in Fine condition with a dust jacket for $750, and the other in Fine condition without a dust jacket for $75. Then and now, the dust jacket can comprise up to 90 percent of a book's value. Since the 1890s nearly all books have been issued with dust jackets but very many were discarded, creating a demand, particularly in vintage collectible books. Research value before spending serious money on any book without its jacket, particularly post-1930 books. Avoid "Book Club" or BC editions of collectible books as collectors eschew them as common. (Book club editions do not have a price inside the front flap, or are labeled 'book club,' and may have a small blind stamp on the bottom rear cover and/or are more cheaply bound than the store-sold edition.)
Accuracy, Details and Honesty CountDescribing a book as "In OK condition considering its age," or "the book is in good or better condition," will identify you as unprofessional a book-rube or someone too lazy to describe the actual copy. Familiarize yourself with the basic grading conditions for used books: Fine (virtually no flaws to the book or jacket,) Very Good "VG," (bright and attractive with minor but visible wear to the book or jacket,) Good (the most common condition of a used book, readily visible wear and soil, chips missing from the jacket, no jacket, etc,) Fair and Poor (unbound or falling apart, missing the jacket, heavily soiled, good only as a filler or reading copy.) Excepting true rarities, collectors generally want at least VG condition books. However you acquire books, it's important to remember, condition means everything.
Research, Research, ResearchA major reason for the dealer stampede into book selling is the transparency in pricing. Pre-Internet, book values were learned through years of experience or through expensive sets of auction record books and/or plowing through boxes of catalogs. Today, pricing can be found for most books with a few keystrokes on the mega-book-search engine sites, www.bookfinder.com and www.Addall.com. Both offer pricing, description, edition status and bibliographic lore on millions of books sold by many thousands of booksellers using the fee-based, book-listing services. The book search engines can also prevent you from sinking money into books with enormous populations: a recent search found thousands copies of the "DaVinci Code" for sale online; commonly, 50, 100 up to many hundreds of copies of the most popular books can be found for sale on the Internet. Unless you expect to outlive Methuselah, it makes little sense to handle such books.
Take Advantage of the TechnologyNo one can know the value of every book encountered in buying situations at flea markets, book auctions or anywhere else. I, for one, have boxes of "mistakes" I made in purchases. Today, technology has brought book pricing out into the field via PDA devices, laser scanners and Internet connected cell phones. For mid-1960s and newer books, laser scanners can read the bar code by the ISBN number from a database and provide pricing; for books without the bar code the scanners allow for punching in the ISBN with the same but slower result. These PDA devices such as Scout Pal can provide pricing on pre-ISBN books via Internet/data base access. These devices are not inexpensive, ranging to $400 and up with monthly connection fees. But if one of these gadgets can find you a four-figure book or keep you from spending serious money on an overpriced tome, they can pay for themselves. Many veteran booksellers still rely on their experience and instincts in scouting books, but if you are new and inexperienced in this competitive market, you may want to consider investing in a PDA or scanner.
How to Sell? DiversifyThere are two basic formats to online book selling: fixed price and auction. The vast majority of books for sale online are fixed-price listed on the approximately 20 fee-based multi-dealer book-listing sites. Off these, the most popular are the "Three As," ABE (Advanced Book Exchange,) Alibris and Amazon. Despite endless complaining by booksellers regarding Byzantine terms, conditions and fees on the Three As, most online sellers list with at least one of these three services simply because they sell the most books. Nearly all of those sellers will also list with other smaller but good-performing services such as Biblio.com, TomFolio, ChooseBooks, AntiqBooks, or eBay Stores, among others. A complete list of current multi-dealer book selling sites can be found at the Independent Online Booksellers Association (IOBA) site, along with book auction sites, library sales and much other useful bookseller information. With notable exceptions such as Biblio.com, which has a free listing option, and Alibris, which allows free listings up to 1,000 books, the services charge monthly listing fees of about $20 to $100 and up based on the number of books listed. All of them charge commissions on sales, that along with credit card processing fees, average about 15 to 20 percent. eBay Stores, an increasingly popular fixed price venue among booksellers, charges nominal listing fees and commissions on sold books. The eBay auction format, once sneered at by listing service sellers for its pop-culture bent, is now used by most online sellers. One reason is liquidity books will sell in a week on eBay as opposed to the fixed price listing services where books can and do takes years to sell. Another is the serendipitous nature of eBay as buyers there often search by topic and will bid, sometimes impulsively, on books they never knew existed, while listing service buyers tend to search for specific titles. Booklets, brochures, magazines, ephemera, etc., sell much better on image-friendly eBay than the listing services. The downside to eBay auctions is that beyond the occasional books that sell for much higher than the retail price due to a bidding war, the average sell-through book price in the eBay auction format is wholesale to high wholesale; whereas fixed-price listing services net the seller retail, minus commissions. Fast nickel or slow dime it's your choice. (Continue to Page 2 for Pricing, Marketing and Other Selling Tips)
SIP Trunking for Dummies The migration from VoIP to SIP is gaining momentum across the globe. Not only can companies give their employees access to new types of...
Frost & Sullivan—Market Insight: Cloud-Based Agent Performance Optimization Applications—The Last Great Shift to the Cloud Cloud deployment has become the preferred method for companies sourcing their CRM and contact center applications for inbound and outbound contact...
Disk Encryption + Endpoint Backup: Before You Lock it Down, Back it Up Full disk encryption is the ultimate data guardian on corporate endpoints. But when deployed without endpoint backup, it can also be the ultimate...
The Power of Multiples: Best Practices for Selling Best-of-Breed Solutions When sourcing, assembling, and deploying hardware and software solutions for customers, many value-added resellers (VARs) find working with a...