What To Include In Your Inventory
Here are a few “suggestions” for profitable book dealing:
* Start to build an inventory with an author or a subject that you enjoy;
* Build inventory with an author or a subject which is challenging, i.e. not easily found;
* Build inventory within your means – do not try to buy very expensive books, at first, if you are on a limited budget;
* Spend time early on learning which references/bibliographies are particular to your area;
* Pay close attention to the condition of books before you buy them;
* Experience various methods of purchasing books available including everything we have already discussed plus on-line catalogues, local bookshops, flea markets, private sales, settlement of estates, etc…
Which Authors Bring The Most Money
Certain authors are very collectable. Others, even though they might be famous are not. The market ultimately decides who’s collectable and who’s not.
Edgar Rice Burroughs, author of the Tarzan series of books is very popular right now. A first edition of Tarzan in Fine condition recently sold at auction for $43,678.
The Antiquarian Book market is in a state of constant change. Faulkner first editions were bid upward in an auction sale in Greater New York City recently. Pre-bid estimates put its value at $350, and an unidentified bidder paid a hammer price of $10,000. Hemingway is always a good choice as is Steinbeck.
Many collectors will decide that they want a particular author and prices start rising rapidly. Keeping in touch with the market and its wants is the only way of knowing if what you’re buying has any value. Watching e-mailing list postings and newsgroups is a good way to stay in touch with the market. Read Publisher’s Weekly and read The New York Times Book Review to keep in touch with the market.
Some of the ways you can keep up-to-date with market prices and market information is by subscribing to auction results from the major auction houses, checking the values of books through on-line sources, speaking with dealers in various specialties on a regular basis and by reading collectable book periodicals such as Firsts and Biblio. My OP Book Market Letter is a good source of current market information.
Some dealers like to have a relatively finite goal and an established list of books for which to search based on their specialty. This helps narrow down the rather large universe of possibilities in dealing in books and you can become an expert in that are in a relatively short time in a narrow specialty.
© 2010, Work At Home Covert Opps!. All rights reserved.
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