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The Great Ideas Letter Forum
You hit my solar plexus
Posted By: sandy In Response To: Profit Potential Of 2nd Hand Books (Michael Ross)
Date: Wednesday, 27 October 2004, at 8:43 p.m.
What I do for extra money is to browse different bookstores looking for specials....
I buy books which I know a second hand bookstore will like.
Here is the bookstore you can find me in just about every saturday in line to take in bags of books...
http://www.bookbuyers.com/MtnView.htm
I once took in 3 bags of book and made a nice
150.00 (because I knew the books they wanted-
Just ask and they'll tell you what they want)Since we're talking about making money with books, here is another way. I think I mentioned this a while back .
A group of parents from a nearby school left these big bins in the government offices with
signs asking for people to bring in their old books. The bins were around for about a month.After a month worth of "free" donated books, the
parent group arranged a book sale. they do this every year. This year they made 4800.00 over a 6
hour period(the book sale was at the government building from 11-1:00 each day during lunch hours.In the Oct 6 issue of the online Great Ideas
> Letter we mentioned the idea of creating a
> Mobile Book Exchange.> Here is the kind of profit available in 2nd
> hand books...> The large 2nd hand book store near my place
> currently has a book for sale for $9.90.> Many of their business books are $25 - $30.
> Which is a bit steep for a 2nd hand book in
> my opinion. But when a book is not readily
> available, and with some of those books
> selling for high prices on abe books, I
> think this store is pricing according to abe
> books.> Anyway. This $9.90 book has the price
> written in pencil on the inside page. This
> is where this store writes ALL their prices.> On the front cover written in texta is the
> price of 55¢. I assume the store bought the
> book at a garage sale, or as part of a
> "lot" of books.> If they paid the full price of 55¢, then by
> selling it for $9.90 they are getting a
> 1800% mark-up. Or making 18 times their
> money.> When you consider that stores that sell new
> books only ever get a 50% profit (the books
> they sell for $20 cost them $10 from the
> supplier/wholesaler), you can see who is in
> a better position. And it isn't the new book
> store.> The 2nd hand has much more inventory for
> less cost. And has a bigger profit margin
> per book.> Something to think about.
> Michael Ross
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