If you are a person who loves to read and a course in miracles simply for the love of literature, you have the option to make your book collecting hobby a profitable business. For many book collectors, what started out as a rewarding experience derived from searching used rare books has prompted them to become booksellers going on a treasure hunt. Here we can see that collecting books can be a good investment, especially if you’re determined to go after used signed rare books which have significant appreciation value.
Getting started in book collecting and online book selling is a matter of knowing your book’s worth. You have to be able to distinguish the variables that will greatly affect the value of your book.
Prior to the Internet, book values were very difficult to set. Appraising the value of a book used to be a knowledge acquired through years of experience. Today book values are easily researchable online. You can even compare prices with established online and brick-and-mortar bookstores to put a reasonable price tag on your rare items. There are websites that provide information on the availability and pricing of valuable books.
Several factors must be considered if you are planning to sell used book online. What more if you plan to sell rare and collectible books? Here are a few considerations you need to make when pricing:
Condition. Whether the book has its original dust jacket with no missing pages matter to book collectors who are searching for rare books. A book is considered in excellent condition if it is close in appearance as to the day it was printed, with no rip or dirty pages and has intact binding.
Scarcity. The scarcity of the book oftentimes dictates its value in the market. A rare book is one which is seldom encountered and only available in very small numbers.
Demand. The demand for a particular genre also contributes to a book’s worth. But of course it can also depend on how large and educated your customer base can be. For example, a book about war is quite rare and low in demand but you still have to consider that customer who might find your military titles interesting.
Inventory. If you are an avid book reader, keep in mind that the book you are reading may one day be part of the used rare books you are selling. Start by focusing on one genre of literature or books from a particular author or time period. Seek out book signing events that can eventually land you to some used signed rare books. Although you can make an investment out of book collecting, you must also be willing to wait 5 to 10 years or more to see a substantial appreciation of the value of some of your books. What could be an inexpensive investment could be worth hundreds or thousands of dollars over time. An online book seller has to have the perseverance to handle ferocious competition and work on a growing list of titles in order to build a consistent customer base.