Making bank from books
Find ways to profit from book returns
Kayla Kiley/The Pleiad
Izzi Bendall
Senior Writer
I am always amazed when, at the beginning of the semester, I overhear the cashier in the bookstore announce a total that is insanely high. I’ve heard of students who have paid over $600 for their books in a single semester.
But no matter how much you’ve spent on books, selling your books gives you the option to make some of that cash back. And whether you sell your books back to the bookstore or to a fellow Albion student, there are several ways to get good money for your books.
Option 1: Albion
College Bookstore
Kayla Kiley/The Pleiad
With the exception of books that have water-damage, missing pages, international editions and study guides scribbled with notes, the bookstore will give you money in exchange for your books.
"I usually sell my books back to the [Albion College] bookstore if they take them," said Pete Bornschein, Ann Arbor senior, who otherwise resells books to Book by Chance in Ann Arbor. "If you’re lucky, you can get back $200 [from Albion College].
"If you’re unlucky, maybe $15."
Regardless of whether books are used, new, or if they were purchased somewhere else, as long as the book is to be used for a course the following semester, the college bookstore will pay you half of what you originally paid, according to Heath Anderson, Albion College bookstore employee.
"We [already] know about 60 percent of the textbooks that have been selected for next semester’s classes," Anderson said, mentioning that the semester’s last two weeks are the ideal time to come in to trade. "Once the open-to-buy [quota] is fulfilled, we won’t purchase anymore books [for retail price]."
After the open-to-buy quota, or the amount of used books the bookstore needs for the next semester, is filled, or if a book won’t be needed in the next semester, the bookstore will still buy the text from you, but at whole sale price, which is determined by the wholesale supplier that bases it on the average of national demand.
If you choose to use the bookstore, bring your student ID when making the exchange, as the program used by the bookstore uses a student’s name and ID number for reference.
Option 2: Using the Internet
Web sites like www.amazon.com (see sidebar for similar Web sites) are not only a cheap alternative to buying books, but they are also beneficial in selling books. On sites like this, you create an account from which you list the items you plan to sell, by typing in the ISBN number as well as the ASIN. The ISBN is located above the book’s barcode, and the ASIN can be found on the product’s information page at Amazon.
After you label the condition and price of your books (keeping in mind the shipping and handling) on Amazon, you have 60 days before the listing closes, no cost to you. If someone does purchase your book, according to Amazon, you will be charged a variable closing fee ($1.20 for books), a $0.99 per-transaction fee, plus a percentage of the sales price (15 percent).
"You can get a lot more money online than what you get from the bookstore," said Andrew Leinart, South Lyon junior and Amazon user. "I look up whatever the lowest listed price is and make mine slightly lower than that, unless it’s like, 1 cent."
While you may not make a profit, you have a better chance of getting more bucks for your books.
Option 3: Getting Creative
Selling directly to another student allows you to make more than you would at the bookstore or online, while also saving the other student money as well.
"I know this guy who goes onto facebook over the summer and looks up students who have listed courses that he already has the books for," said Lindsay Guise, Brighton sophomore. "He’ll contact them and ask if they’re interested in borrowing his books for the semester, charging them half of what he paid.
"He’s already rented out a $40 book for $20 on three separate occasions."
While this book selling strategy can be a good money maker for some students, it isn’t for everyone.
"It sounds a little too complicated for me," Guise said, who sticks to reselling her books to the bookstore.
Get ahead of schedule
While these ideas are primarily for students who want to sell their books, they’re also helpful for those who plan to purchase books next semester.
"When I was a freshman, I bought all of my books from the bookstore," said Emily Knoppe, Birmingham sophomore, who mainly purchases books online now. "I don’t do that anymore.
"I feel like I was tricked [in regards to how much the books were priced]."
However, if you choose not to shop around for the lowest price, you can still save money by reselling (or directly renting out) your books at resale bookstores, on the Internet, or to other people when you no longer need them. If you follow this advice, at the end of the year you might not be out $600.
Besides Amazon, you can sell your
books on these websites:
http://www.barnesandnoble.com/frames/selltextbooks
Farmer’s Market