My dad, the great book seller Morton “Jock” Netzorg, a dealer for well over 50 years, had all kinds of rules about how to make money selling books. But Netzorg’s #1 rule was: “What you pay for it has nothing to do with what it’s worth.”
Looking over my list of sales so far this year I was surprised to notice how many of the things that were profitable came in the door for free – found sitting on the curb waiting for the garbage man or were, if not free, nearly free – cost to me $1 or even less.
I sent a query to an on-line list where dealers chat among themselves and asked did this happen to other sellers, and if so how often? My in-box rapidly filled with many examples from those with similar experiences.
Buy low, Sell high
There were too many stories to share them all, but here are just a few examples:
* The Florida dealer who got a first edition of the Alcoholics Anonymous Blue Book for $1 and sold it the next day for $150.
* The North Carolina dealer who paid $2 for a ratty looking antique astronomy book with a big black ink spot on the cover who resold it within 24 hours for over $200.
* The Alabama used book seller who bought a box of vintage golf course score cards for $10. So far he estimated he’s made over $2,000 on what’s been sold and he still has a third of them left.
* The Iowa dealer who got a first edition, second state of the Hobbit for a quarter and resold it for $1200.
* The seller in Europe who picked up a batch of older books in English for a few pounds. In the lot he found some early mystery and detective stories. Just two of the best ones brought over £900.
*The retired dealer from the East Coast who often helped haul away freebies. In the pile he found Portrait of an Artist by James Joyce. It was a ratty copy and a later printing. He estimated its value at about $2. But when he discovered it was signed by Joyce the price went up steeply. He sold it for $4,000.
*A California seller told about a signed biography of a billiard player, “I paid about 35 cents for a paperback. There were none listed for sale online and I had no idea how much the book was worth, so I listed it on eBay with a starting bid of $50.00. I ended up selling it for $1750.”
It happens all the time
Almost everybody who wrote said this has happened to them not just once, but with reassuring regularity. Some added the proviso, “These kinds of finds do not come along often enough to make a living from them,” but the consensus was great deals do happen and often enough to make things interesting.
Even in the days of on-line information galore, you’d think people would look it up before they throw it out. But they either don’t know how or could care less, as a result good stuff can come your way and sometimes it’s free, gratis and for nothing.
But as the seller your part of the deal is to be looking for it.
What you bring to the equation is curiosity, knowledge and an intuitive sense of who else might not only want what you have, but might actually be willing to pay for it.
The things I find that seem to have the best margins are usually non-fiction pre-ISBN books and vintage or antique ephemera. I find them because I’m looking.
Looking means really looking
Looking is not just a glance. Looking means not just the outside but the inside, not just the front but the back. Not just the book itself but what’s laid inside the book, not just the subject but why someone would be interested in the subject. Not just the condition but the content. Not just the text but the pictures, the dust jacket, the credits, the inscription. Not just books but magazines, photos, and every other kind of paper. Just because somebody else has tossed it doesn’t mean it is without value.
Here’s the way one Massachusetts seller put it: “Right now I am going through a few mixed boxes of ephemera from an ABAA member who does primarily books
and all this paper would have slowed him down. So I am going through the paper one piece at a time and I am making a pretty penny. He already got what he needed from these lots.
She went on to say, “I pulled out a few items and sent a box to still ANOTHER dealer who does even more specialized material. It's sort of a trickle down bookselling.”