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Value of used books

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Guide to buying and selling used books

  • One can also buy and sell used books to their college peers at good cost, by posting ad on www.mycollegeadda.com which is a wonderful platform for college students
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Value of used books

  1. 1. Buying and Selling Used Books Series (Edition 1) ©2010 All Rights Reserved
  2. 2. Buying and Selling Used Books All buyers and sellers of used books can and should get a fair deal. By Team @ www.PopAbooK.com ©2010 All Rights Reserved
  3. 3. Introduction We have been buying and selling used books for more than four years. It took us sometime to learn and be good at it. This book is meant to be a guide to buy and sell used books [does not include rare books, old books and out of print books] and get a fair deal. It is no rocket science, it is very simple and you will be able to determine the fair value for any used book. It always hard to buy or sell a used book at a book store as the store seems to have an fair advantage. The store knows the demand supply of the book and also knows the fair value for the book. If we know this information we can negotiate a fair deal even with the toughest dealers. When we started we had very interesting experiences, do share your experiences we love to hear them. Write to us @ praveen@PopAbooK.com. Lets now jump and learn about buying and selling used books books. ©2010 All Rights Reserved
  4. 4. Table of Contents Chapter 1. Current Used books market as it is! Chapter 2. What is the fair value of a used book? Chapter 3. Online or Brick Mortar Store! ©2010 All Rights Reserved
  5. 5. Chapter 1 Used books market as it is! ©2010 All Rights Reserved
  6. 6. That is what you see when you go to used book store. Up to 25% discount on new books and up to 35% on used books. Buy back facility, get up to 60% on used books. ©2010 All Rights Reserved
  7. 7. The fact is the shop rarely buys a used book at 60%. It is a ploy to not only attract book sellers but also to convince potential book buyers that used books cannot be sold at less than 60% as they are buying at 60%. It is an amazing tactic to attract sellers and then sell at a higher price to buyers. Its just a single line that works for both sellers and buyers. Our experience shows that on average we sold at 35-55% and bought at 60 55% 60-80% (assuming the book is in good condition). ©2010 All Rights Reserved
  8. 8. Chapter 2 What is the fair value of a Used book? The fair value of a used book depends on following factors 1. Category of the book 2. Condition of the book 3. Demand and Supply of the book ©2010 All Rights Reserved
  9. 9. Book Categories and fair values of used books 1.Text books/Science Technology Technical books They have highest re-sale value if the book is prescribed by sale college/university. On average the book can sold/bought at 6060-70%, 75% if its almost like a new [some metimes even new books are not in this condition]. 2. Non-Fiction They are second to text books and on average the book can be sold/bought at 50-60%. Very few used book shops deal with non 60%. non-fiction used books. 3. Fiction They have the least re-sale value and on average the book can be sale sold/bought at 45-55%. Very few used book shops dealing with non 55%. non- fiction used books. ©2010 All Rights Reserved
  10. 10. Condition of used book as per IOBA definition Independent Online Bookseller Association (IOBA) defines following book conditions AS NEW; FINE; MINT: Without faults or defects. [Very rare : sometimes even new books are not in this condition] NEAR FINE: a book approaching FINE (or AS NEW or MINT) but : with a couple of very minor defects or faults, which must be noted. VERY GOOD: A book showing some signs of wear. Any defects or : faults must be noted. GOOD: The average used book that is totally complete (as issued) : and intact. Any defects must be noted. ©2010 All Rights Reserved
  11. 11. FAIR: A worn book that has complete text pages (including : those with maps or plates) but may lack endpapers, half half-title page, etc. Any defects or faults must be noted. POOR or READING COPY: A book that is sufficiently worn that : its only merit is the complete text, which must be legible. Any missing maps or plates must be noted. May be soiled, scuffed, stained, or spotted, and may have loose joints, hinges, pages, etc. A book that is either ‘AS NEW’ or ‘NEAR FINE’ deserves 5 5-10% premium over the average. A book that is either ‘VERY GOOD’ or ‘GOOD’ would not call for a premium or discount to the average. A book that is either ‘FAIR’ or ‘POOR’ would have to be discounted by 10-20% from the average. 20% ©2010 All Rights Reserved
  12. 12. Demand and Supply of the Book It is hard to know the demand for a used book, one can assume that if the new book is in demand then an appropriately priced used book will also be in demand. Check the best sellers list and that will be good indication of books in demand. This is an issue with brick and mortar used book stores, whereas in an online bookstore its easy to know the demand and supply for the book and price the book accordingly. In an online bookstore you will be able to see how other sellers are pricing the book. Even if you are not sure about the demand and supply the first two factors can be used to arrive at a fair value. Using the first factor [category of the book] you can determine the average price of the book. Then you have to add/discount from the average value based on the condition of the book as explained above to reach the fair value of the used book. ©2010 All Rights Reserved
  13. 13. Chapter 3 Online or Brick Mortar Store! Both have their advantages. You can sell a book in a used book store and get money immediately even though it is 20-35%[shop’s margin] lower than fair 35%[shop’s value. You can sell online and get 10 10-15%[commision to online store] lower than fair value, you will get more money but you have to wait for a buyer. Another advantage of selling online is that you will know the exactly what other sellers are asking for the book and price the book accordingly. ©2010 All Rights Reserved
  14. 14. As there are very few used book stores for fiction and non non- fiction books online is the best option for selling them. You can buy a used book from a used book store verify the book condition before you buy. You can buy the used book online, here you will be sure that you won’t be over paying as you can verify what other sellers are asking for the book. As there are very few used book stores for fiction and non non- fiction books online is the best option for buying them. Happy buying and selling used books. Wish you all the best. www.PopAbooK.com is an online book store. We offer up to 30% discount on new books. You can also buy and sell used books online at www.PopAbooK.com ©2010 All Rights Reserved

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