If you’re a college student, you’re well aware that education is expensive! On top of tuition, the cost of college textbooks is not insignificant. You may spend upwards of $2,000 for books in just one year. At the end of the semester, you may want to keep some, but generally, you’ll want to sell books to recoup some of your cost and put that money into next semester’s books. Selling used books is a notoriously unprofitable business. Here are some tips on maximizing your return when you’re selling used books.
Given that the college bookstore typically gives you half of the cost you paid, then resells to another student for anywhere from 70 – 80% of the new price, selling used books back to the bookstore makes your loss substantial, while they are making a 25% profit on a resale of the same book they first profited when they sold to you. Perhaps unfair, but that’s the way it works.
One way to minimize your losses when selling used books is to advertise on campus through their intranet. Since other students are needing your books, they’re also aware that the bookstore will charge them 70 – 80% of the new book price, while only paying the seller 50%. Therefore, if you advertise a price between 60 – 65%, both you and the buyer will save.
When selling used books, there are other ways to advertise besides the campus intranet. You can list all the books you’re selling on a flyer, noting the condition of the book and your selling price. Hand out your flyers to friends. Word of mouth works as well.
Other seeming losing propositions in selling used books occurs when you sign up for a class and decide to drop it. Now you’ve got a book in mid-semester that no one’s looking to buy until the next semester. Not necessarily. There’s always someone who signed up for the same class within the same period in which you dropped the class. Include this book in your emails and flyers and you may well find an eager buyer for your used but “clean” book at 75% of the new cost.
When selling used books, it’s important to keep that book in as new a condition as possible. Avoid writing in the margins, highlighting and try your best not to spill coffee on it. Don’t let the dog chew on it or let that burger drip on the pages. A “clean” book makes selling used books easier and will command a higher price. Everyone concerned makes out in this deal.
Advertising on your website is another innovative way to get the most for your used textbooks. A blog can attract lots of readers with your interests and in your age group, particularly college students. Just put a link on your main page, labeled “My college bookstore” to lead your visitor to your online flyer. Shipping books at postal book rates is cheap.
You can see that selling used books need not be such a loser!