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The Great Ideas Letter Forum
Here is How I Make Extra Money "Flipping" Books
Posted By: James Jones In Response To: Profit Potential Of 2nd Hand Books (Michael Ross)
Date: Friday, 29 October 2004, at 9:20 a.m.
I find old how-to books at Yard Sales, Estate Sales, Thrift Shops, etc and resell them on eBay.
Here is a link to a blog post I wrote with more details:
http://www.emergencycashgenerators.com/2004/06/here-is-product-anyone-can-find.htm
also...
http://www.emergencycashgenerators.com/2004/06/listing-how-to-books-on-ebay-for.htm
> 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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