Make Money Selling Pre-loved and Used Books Online
Why Do People Buy Secondhand and Used Books?
1. To save money
A pre-owned book can often be bought for less than half the price of an identical new book.
2. To protect the environment
Buying a second-hand book is a good way of saving landfill and recycling resources.
3. As an investment
As books age some will get damaged; undamaged ones may become collector’s items as their rarity increases.
4. To own an out-of-print book
A book may have had a short print run and is no longer on sale brand new. It may not be a collector’s item, but is still of interest to subject specialists.
Print Books Are Still in Demand
It used to be said that print books were doomed as e-book sales were increasing exponentially. However, this trend has slowed right down and print books are holding their own. The Publisher’s Association reports that the consumer e-book market grew from £20m ($26m) in 2010 to £275m ($358m) in 2014; a rate of growth over 4 years of nearly 1,300%. But when these figures are broken down, the final year of this amazing growth spurt (2013/ 14) shows a year on year increase for the e-book market of just 5%. Overall this still leaves 80% of new books (a sizeable majority) that are produced and sold as traditional print books.
There is potential for you to start a home based business reselling these physical print books. Many books are read once (or not at all) and then given to a thrift shop, sold at auction or discarded by being left on public transport. There are many reasons for preowned books coming onto the market. Sometimes the original book owner wants to make space in their home or they may want to buy an updated version of the same book. Perhaps they want to raise some cash. Whatever their reasons you can grab a bargain and sell them on at a profit.
Selling books online is a competitive market. If you want to be successful, you need to be professional in the way you fulfil your orders.
- Describe the goods properly in your advertisement.
- Price your books competitively.
- Make sure the books are in the best condition they can be.
- Mail them promptly once they are sold.
Do you buy or sell second-hand books online?
How to Start Selling Books Online
The best way to start selling books online is to advertise a few of your own books you no longer want or need. This gives you the chance to see if you can make a profit. If you find the effort is not worth it, you have had no outlay and so lost nothing.
If you find you enjoy selling books online and make a profit you will need to replenish stock in order to sell more. This is where experience and research will determine future success. Just because a book is old, does not mean it is valuable. The opposite may also be true. Some new books are sought after because their publishers miscalculated their popularity and so produced print runs that did not meet demand.
Thrift stores (and charity shops) can be a good source of buying cheap second-hand books. However the Internet is making information on pricing available to everyone and so it is becoming harder and harder to find hidden gems in these type of shops. Nonetheless, if you specialize in a particular subject area, it is still possible to occasionally find a valuable book in a thrift store. Persistence and knowledge are the keys to success in this business, although luck sometimes plays a part.
Auction sites online and auction houses are also worth checking out for second-hand books. House clearances can be a good source of book collections. Often relatives of the deceased just want to clear the house with as little hassle as possible. If you have transport you may be able to be paid by executors to take hundreds of books away for dumping, and retrieve a couple of gems from the dross.
The video below details some of the niche areas of second-hand books that produce the best profit.
Where to Find Books to Sell Online
Second Hand or Rare and Collectable
There are two main categories of second-hand books. The first and most common is that of a book which has been owned by someone else (yourself or another person) and is now being resold at a percentage of the original cover price. This category could include textbooks for students, popular fiction, or ordinary books which are being sold off following the death of their original owner.
The second and smaller category is that of rare and collectable books. This is a specialist market in which the book’s value is determined not just by its condition and rarity, but also by investment potential. The values in this sector of the second-hand book market can be highly volatile.
The way you describe your books online is crucially important to a successful sale. Photographs as well as words can help a potential buyer understand exactly what you are selling. They need to know not just the title and date of publication of the book, but also a detailed description of its condition. This is especially important for higher value items.
Describe Your Books Clearly
Photos and descriptions of your books are a key part of your marketing. Be as detailed and accurate as possible. If a website allows you to do so, post lots of photos. These should show the front back and spine of the book, as well as any illustrations. If there is any damage, it is best to include a photo of this as well.
The description of your book should include the date of publication, title and author, as well as the illustrator (if relevant). If it is a modern book it will also have an ISBN number which is a unique identifier relating to the publishing format and date of publication. If there is anything unique about the book, for example it is signed by the author then this should also be included in the description.
The book should be presented in as clean a condition as possible. If there are any marks these should be noted in the description. It is not a good idea to try and remove them with modern chemicals as this can damage the paper or binding. You can quickly reduce a valuable book to scrap paper by thinking restoration is easy!
Common Mistakes When Reselling Books Online
Calculate Shipping and Postage Costs
Books are heavy items. Most buyers will expect to have their books delivered to them and you need to consider shipping and postage costs when you are deciding on the price. Some websites have standard postal charge (e.g. Amazon). This may not cover the actual shipping costs and so you should make sure the book sale price is sufficient to cover your outgoings and make a profit for you. Some websites (e.g. eBay) allow you to determine what if anything you want to charge for shipping on top of the sale price. You may also be able to specify different costs for tracked delivery compared to standard delivery.
For rare and collectable books, use a traceable delivery method in case the package gets lost in transit. Remember to include the cost of your bubble mailer and Scotch tape in your shipping costs. Depending on the size of the book, these can be as much as the postal charge itself. It is worth using good quality packing materials. These will ensure that your buyer receives their book(s) undamaged by any rough handling in transit. Happy customers mean repeat purchases and recommendations to their friends.
Reasonable Sale Prices Attract Buyers
Rare and Collectable Books
Research Sold Prices
Internet Book Sites
Clean and no pages missing
Depends on rarity
Edition and Publisher
Textbooks should be as recent as possible
1st editions may be collectable
Shipping and postage costs
State the shipping costs in advert
Use trackable delivery
Amazon, eBay and Other Online Book Retailers
Amazon and eBay are popular websites that sell second-hand and used books. Anyone can list their books for sale on them and choose their asking price. It's easy to assume that these prices are achievable. However always remember that the price listed is the one a seller would like to achieve, not what a buyer is actually willing to pay.
Try to find out what a particular book has sold for recently. Amazon doesn't display completed sales, but you can search eBay for closing prices on completed auctions. There are also other websites that may give an indication of market value, for example, Abe books, Alibris, and Book finder. The video below describes recent changes to Amazon's charging structure. These could affect the viability of small volume online booksellers.
Amazon Changes Affect Used Book Profits
How Do You Know if a Book Has Significant Monetary Value?
Rare and antique books are a specialist market within the general antiques and collectables trade. Their price is determined not just by a book’s condition but also by how other investment markets are doing. There are always investors with cash to splash even in times of recession. When interest rates are low, cash moves into other investment classes. The value of antiques and other “collectables” including books may rise as a result.
For truly valuable and rare books, online booksellers are not the best place to find reliable information on achievable prices. These websites show the price a seller would like to achieve, not what a buyer is actually willing to pay. The seller has nothing to lose by asking a totally unachievable price in the hope of catching someone with more money than sense.
If you have any books you think may have special value, I recommend you take photos of the covers and a few of the inside pages of the books. Then after phoning first, email the pictures to some auction houses or specialist book traders. People can be generous with their knowledge and time. Even if you don’t have a hidden gem on your bookshelf you may learn a little more of the history of your books.