Thursday, May 20th, 2010
We get this question at least once daily. What types of books do you buy? I’ve entered several ISBN’s and received no offers, what is going on?
Here is a list of the types of items we buy on a daily basis. This list shows a general overview of the types of items we buy on a regular basis.
Wednesday, April 28th, 2010
There are many outlets and venues for you to sell used books. Below you can find the best methods for selling your used books to maximize your financial resources.
Does old mean rare? Does signed mean valuable?
The first step is trying to get some sort of feel for what you have. Is it a collectible book, which has the potential to be worth a lot of money? Or do you have more recently published novels, or leftover texts from college? The types of books you have dictate how you approach selling them.
A lot of us would like to believe that the box of old books left to us by our grandmother are valuable. Unfortunately, most old books are exactly that -old books. Usually they have little to no value.
I can hear some of you saying, “but mine are first editions!” or maybe “my books are signed by the author”. The bad news is, the vast majority of books ever printed are first editions, because most of them were never popular enough to require additional printings. Signed books are also tricky. An autograph, signature or inscription can often add value. However, there are many authors who will sign anything that quits moving for short periods of time. In order for an autograph or signature to have value, it has to be authentic. Can you show provenance? Even if you can, you must then hope that enough people are collecting signed works of that author, to create a demand for the item. Only when you have a scarce or rare item, coupled with buyer demand, will truly exceptional prices be attained.
Does this mean that all old signed books are worthless or not worth investigating? Not at all. There are some great stories of individuals finding rare books worth lots of money. How about the family in southern Britain who found a copy of “The Origin of Species” by Charles Darwin in their guest bathroom, which is expected to sell for around $99,000.00! Of course, I now check all books found near toilets, wherever I go.
Whenever I find something that I can’t identify, I run to the Antiquarian Booksellers’ Association of America(A.B.A.A). This is a great resource site to point you to an expert who can help you identify what you have, and if it may have value as a collectible book. Like most aspects of life, remember that there are reputable, and less reputable individuals. Asking for references is always a good idea as are sending multiple inquiries sent to different people.
So if it is not rare or collectible, is it garbage?
Your used books always have some sort of value! Most likely, it will not be as much as you hope, but it is definitely worth a few minutes to look at them and see what you have.
The three most popular methods of dealing with your used books are below. All three are the worst possible way to deal with used books from a financial view point. Don’t get me wrong, if you have no regard for your finances, please sell your books at a garage sale or to a local bookstore. If you do opt for one of these methods you may see me. I will be the one who comes along and buys your $15 book for 50 cents, and sells it for a profit.
Garage/Yard/Rummage Sales - The average price for a used book at a sale of this type is between 37-77 cents per book. Apparently, your location in the U.S. affects the price. Midwest and Southern states generally have lower prices, while the coasts seem to have slightly higher prices. These figures are based on what people state they have paid, not the asking price. Why these cheap prices? Your market is small, even if you have a really good book. Say you are trying to sell used textbooks. How long do you think you will wait before a student comes along who happens to need that book and is willing to pay top dollar? Yeah - you are going to be out there awhile. If you want to sell used books in a garage sale, you should only sell the bad ones, or take a tax write off after donating them.
Tax Write Offs & Donations - Goodwill, Thrift Stores etc. - It is a generally accepted practice to deduct anywhere between 25 cents to $2.00 per book. Consult your tax preparer for more details specific to your case. Remember to keep your donation receipts in case the tax man comes calling.
Local Book Store - Many local bookstores will gladly purchase your used books and gently used texts. Be aware however, you are going to get paid next to nothing. The whole process works similar to a pawn shop type deal when you go to sell an item. Few who bother to haul their books into a store, want to haul them back home, even after receiving an offer that is insultingly low.
What is the correct method for selling my used books?
The key to successfully selling your used books to maximize your financial success is a combination of selling strategies. Tap into the online market! Sell your best books online for the most money and then dump the books that are worth less into a garage sale or take the tax deduction.
So you’re thinking, that sounds great, but I do not know anything about selling online. The good news is, there are a couple of options. One is so simple that even my grandmother is able to do it, and she falls into the “internet and computer handicapped” demographic.
Selling Yourself Online - There are two ways to sell your books online.
- Sell your books yourself at various online sites like eBay, Amazon, ABE Books and many others. This method requires you to be more patient as well as computer/internet knowledgeable.
- Sell your books to an online specialty site like CKY Books. There are many online sites like this to choose from. This method is much faster and simpler, but you will make slightly less money.
Selling online using method #1- Online Marketplaces (Amazon, eBay, ABE Books)
You must be prepared to handle many things in order to get paid and actually turn a profit.
- Price your books properly for sale.
- Write accurate descriptions of your books detailing the physical condition.
- Be patient/lucky enough for your book to be selected for purchase while constantly watching the price drop.
- Clean & package your book for shipment.
- Deal with customer emails, questions and complaints.
- Deal with customer returns and items that go missing during shipment.
- Maintain high customer satisfaction ratings which are a requisite for online success.
- Be willing to pay the fees involved.
- Site listing fees, closing fees, commission fees (Will roughly cost between 15%-22% of the sale price of the item)
- Cost to ship item ($2.38 1st pound +.39each additional pound)
- Cost to collect your money (It costs money to move money 1-2% - Hello PayPal)
- Then you have to factor in your time and labor costs, cost of goods, taxes.
EXAMPLE:
Let us assume you sell a book on one of the sites we are talking about and the selling price is $6.58. You will face a Fee Formula similar to this:
(Sale Price - Commission - Closing fee) or $6.58 -$.99 -$1.35 = $4.24
Do not forget to take out cost of goods, packaging and labor costs. Then of course you have taxes.
The biggest drawback that nobody talks about, is the cost when a problem occurs with a sale. All online marketplaces like Amazon and eBay are setup so the end buyer is protected. This is great for the buyer, but is horrible for a seller. If you sell something and a buyer complains, the site will hold your money until you prove your case. Unfortunately, it is your job to prove you did nothing wrong. The buyer holds all the cards and the site holds your money. There are many horror stories of reputable sellers being cheated out of their money and their product. Of course, the rules are in place because past sellers would take advantage of buyers. Another case of a few bad apples spoiling things for everyone.
Selling online using method #2 - Online specialty site like CKY Books
Your time and responsibilities are greatly reduced when you deal with a service like this one, but there are still some things that you have to do.
- Your books have to meet certain condition guidelines. (As they do on the sites like amazon.com and eBay)
- You are responsible for securely packing and shipping your books, and making sure they arrive at their warehouse. (Fairly easy to do when you choose to purchase shipping insurance)
- Again, like most things, there are reputable online sites and less reputable sites. When in doubt it is always a good idea to check out a company’s complaint history with the Better Business Bureau. Steer clear of any site with a large complaint or unresolved complaint history.
EXAMPLE:
The same book we just sold on our previous example would get you a CKY Books payment of between $2.00 and $2.55. Offers can vary from day to day, but you can always expect to get a lesser amount than you would get if you were to sell it yourself. I have seen prices of $1 per book, to well over $100 for some books on sites like this.
You will have to decide which selling methods suit you best. Personally I like to sell my books all at once, and get the most money for my good books and then take a tax write off on the ones that they won’t buy. It saves so much time, and my time is valuable to me.
The Pros are many and the Cons are few.
You enter your books into the website. If they are buying the title, you are given an offer. You may either accept or decline the offers, and the books are added or subtracted from your order. When you are done, you box up your books, print a FREE shipping label, and send off your books. Usually within 15 days, you receive an email that your books have been received and are being processed. In most cases, payment is issued within 24-48 hours via PayPal or Check (your choice). The only real expense you have with a service like this is your minimal cost to insure your shipment -$1.80 buys you $100 of insurance.
You might have a shipping problem and your box is damaged, destroyed or lost. If you do not purchase shipping insurance you are pretty much…up that proverbial creek without a means of propulsion. If you do have shipping insurance, and disaster strikes, you have to file the claim, which can take some time before you get paid. Shipping issues and the condition of your books are the only issues you really have to worry about with services like this.
Hopefully you will find this information worthwhile and it well help you decide which option is the best way for you to sell your used books.
CKY Books is offering a special first time customer promotional, between now and May 31, 2010. Whether you sell a single book or a bunch of books you can earn an extra 10% on your payment amount just by writing the name of this article, “The truth about selling used books” on your packing slip. This promotional offer is valid for first time customers only. To get started selling books online and take advantage of this special offer you can head over to CKY Books and learn more.
Tuesday, February 16th, 2010
Laissez les bons temps rouler. Let the good times roll. Those of you who actually speak French are cringing and I know. I know. But that’s Cajun French and for today, that’s appropriate.
Mardi Gras has been celebrated in the US since 1699 although it only began to evolve into the festivities we know today in mid-1800s when the first Krewes were formed and parades organized. It’s always the Tuesday before Ash Wednesday, always 46 days before Easter, always the last day of indulgence & extravagance before Lent.
Mark Twain had quite a bit to say about Mardi Gras in his book “Life on the Mississippi” (chapter 46). He describes his memory of a parade as such:
“I saw the procession of the Mystic Crew of Comus there, twenty-four years ago–with knights and nobles and so on, clothed in silken and golden Paris-made gorgeousnesses, planned and bought for that single night’s use; and in their train all manner of giants, dwarfs, monstrosities, and other diverting grotesquerie–a startling and wonderful sort of show, as it filed solemnly and silently down the street in the light of its smoking and flickering torches; but it is said that in these latter days the spectacle is mightily augmented, as to cost, splendor, and variety.”
Have you ever been to Mardi Gras? What was your experience?
Monday, February 15th, 2010
The other day a few of us were discussing things that occur occasionally that can upset our customers. The first thing we noticed was that all of the main issues we discussed had to do with money. Not really surprising if you think about it. CKY customers utilize our service for two main reasons. One is to get paid for their used books; the other is to recycle their books.
The theory behind what we do is simple — offer a fair price for quality items in good condition. Like a lot of theories, things can and will go wrong with the reality. For example, getting the books from point A to point B sounds fairly simple.
We realized there is nothing we can do to prevent the occasional customer from having a bad experience, it just can’t be done. We are committed, however, to trying to limit this number to the smallest possible amount. We have taken the top five most common issues that are likely to upset a CKY Books customer and are exposing them for all to see in a series of five blog posts. We hope you take a few minutes to read them and some preventative measures you can take to make sure they don’t happen to you.
1) How do my books go missing in the mail? How did they get damaged? How did only half of my books arrive?
Ok. This is a no brainer. This would tick off anyone. We get upset when it happens to a customer. We look bad even though it is not our fault and we never touched the shipment. This is mostly because people find it easier to blame us than the United States Postal Service.
The cold hard fact is that while CKY Books pays for the FREE shipping to our warehouse it is your responsibility to make sure that your items arrive and they arrive in the condition we require.
To prevent or limit the chances of the scenario below from occurring to you we suggest you PACK YOUR BOOKS WELL and PURCHASE POSTAL INSURANCE.
The most common scenario: You pack your books in a box and you drop them off at the post office. As soon as you are out the door the post office begins to work its magic. Your shipment is loaded and sent on to the next stop, usually a regional station or bulk mail center. This is where 90% of all damage or loss will likely occur. Your shipment is now part of a long conveyor line of packages. Hundreds of thousands of packages a day will travel through a Bulk Mail Center (BMC). Packages will fall off conveyors, they shift, they fall off carts, they are thrown on trucks, they have other packages stacked on top of them.
It does not take a lot for a box to break open and the contents to spill out, either entirely, or partially. These facilities utilize an assembly line process. If your shipment is unfortunate enough to come open they don’t waste time trying to figure out whose books belong to which box unless it’s obvious. It is very easy to see how books can become damaged or lost while in transit. Also remember mail is subject to inspection. This means they can open your package at any time to look inside, which means if they don’t tape it closed good enough…well they aren’t going to take responsibility for it.
Here is a little known fact about the United States Postal Service (USPS). They do not have any standardized procedure for dealing with incidents like this. Each BMC makes its own internal rules or guideline with how to deal with damaged shipments. There is no Post Master or official USPS form that is filled out for your damaged shipment. We know this because we have received damaged shipments from all thirteen of the BMCs and they all handle damaged shipments differently. If you are lucky you get what we call the “sucks to be you letter”. It goes something like this: “we regret to inform you we damaged your package while it was in our care…sucks to be you…we’re sorry”.
If you are unlucky you get nothing — no note, no contact, no apology. Your shipment just goes missing in the mail. Eventually missing or loose in the mail items are routed to Atlanta, GA where at some point they are put up for government auction.
There is a form that you can fill out, and request they look for your item at the Atlanta site. I personally have no knowledge of any customer ever having their item returned as a result of filling out this form nor have I ever heard of any person ever having their items returned.
If your books do get damaged or lost in the mail and you go to a postal window they will essentially tell you “sorry about your luck”. Your only recourse to prevent this from happening is to purchase postal insurance prior to mailing your package. If you pay extra money they will actually attempt to take care of your package and with that little bar code on the shipment they do a good job.
Interestingly enough, we have never had to file a postal insurance claim for a customer. There was one instance where we could have but the customer decided he didn’t want to mess with the hassle.
Delivery Confirmation (DC) is a cheaper alternative that does help. It is a little green sticker with a bar code that is put on your shipment at the post office when you mail it. Statistically these packages arrive in better condition than packages without DC. They also go missing less often. Most likely this is because the USPS requires they be accounted for in a more stringent manner.
Remember to pack your shipments well and purchase postal insurance if you think the value of your shipment warrants it. We get really upset when the USPS loses or damages a CKY Books customer’s shipment. When I have to send out an email notification that this has happened I get a bit overly emotional because I know that our customer is going to be disappointed and upset. And I hate that.
By Todd Bradley
CKY Books
Account Manager
