Suggestions for selling a rare book
Hi Everyone,
I help a lady sell some of her books and I have one to list which is (by my searching) a fairly rare book. She wants to start an auction at over $650.
In my listing, I will require signature confirmation and tell the buyer that the address on file with eBay should be one where they can receive the package, even if they have to change it just for this book. Of course, I'll also insure it for its full value. Obviously, there will be tons of photos.
Is there anything else I should include? Any suggestions would be appreciated. Thanks!
22 comments
soh.maryl
·2 years agoIsn't there such a thing as a rare book dealer with perhaps a B&M store?
1786davycrockett
·2 years ago@flp
It would really be helpful for us to actually SEE the book in question, as it may not be as "rare" as you might believe.
Can you provide some photos for us? Front, rear & spine of dust-jacket (including reverse sides, with flyleaves both folded and unfolded); front cover of book without dust jacket (and the same for the rear cover and spine); inside front and rear endpapers; copyright page (showing the COMPLETE page); title page (showing the COMPLETE page); plus photos of the corners and spine edges.
With the addition of the above photos, we can probably make a more accurate description of the rarity of the book itself, and whether or not it it might be auction material.
1richdoug
·2 years agoMake sure to follow others opinions; sold books from 17-21 the good years for books; highest 1800 s book i sold was 150 and was autographed. Condition is everything! if binding comes loose in shipping, deal is over. Know if its a 1st ed. or which printing. Not sure what you have selling, but look at what others have sold for. Says you have sold for her prior? if, big if, sells for 650, least could take is 400, because of fees, ship or returned shipping also, and goes on your 1099. If problem occurs, its on you! IMO, not worth the 6 month CC clearance for a couple of Ben s.
dhbookds
·2 years agoBe sure you elucidate all the flaws, if any........with pictures.......
az93
·2 years agoDon't say RARE. If it's really rare the buyers already know it. In fact that goes for most everything on ebay. Rare is rarely true. And even if it is rare, it doesn't mean anyone wants it.
selsa84
·2 years agoI'd say 99.9% of the books in the rare books category aren't rare. It really sucks going thru that category and weeding thru 10,000 book club editions of Stephen king, 1986 encyclopedias etc. I use to love going thru it 15 years ago but it's become a joke now. And if you do find a rare book it's usually priced way above its value.
tobaccocardyahoo
·2 years agoAlthough Via Libri is an excellent source for what is available today online, it is not a source for past prices.
As books get rarer and more expensive, they also vary more in what they will sell for at auction. (True of other items as well).
Often the first copy to appear after not being offered for a long while brings much more at auction, than other copies which later based on how well that book has done.
If Terapeak has the book, it can tell you what it has previously brought on Ebay.
With no specific info about the book, since you have shared none, there is a good chance that you and your consignor are going to be disappointed.
I have been buying rare books on online auctions for a fraction of what their past sales have been for quite some time. The market for many books, other than the most desirable, has dropped substantially. At what I have paid for them, I am willing to make them my heir's problem.
dryophelia
·2 years ago@flp
I would show your friend how to set up her own account. Her banking info, her SSN. Of course you can help her create the listing(s) and even monitor the action with her.
This way it’s her listing and you are still able to help.
m60driver
·2 years agoThere are few enough rare books on Ebay in the $650 range. Be sure to double check pricing online. Here is a good source: https://www.vialibri.net/.
lux.ra_14
·2 years agoYou might be better off picking a price and selling as a BIN. An auction at that starting price could very well get only one bid.
I would temper your consignor's expectations about how fast (or whether) her book will sell. Make sure she understands that edition and condition are important, and that comps have to be comparable. And let her in on the most basic advice -- that any price you see online for a current listing is the price the book has not sold for.
Consignors often have unreasonable notions, especially when their focus is on one potentially valuable item. Expect her to believe the book should have sold faster and for more money. I predict a headache, one way or another.
meekamaye
·2 years agoAs mentioned above, do you really want to pay taxes to the IRS on her/his items? Anywhere you sell that has your tax number will report the income to the IRS. The person you are selling these for gets the full selling price & will not pay any taxes, you will. For all your hard work do you want lose what income you are making from selling the things to the IRS?
slippinjimmy
·2 years agoThe amount paid out to the consignor is a deduction (cost of goods) just the same as any item you purchase for resale. The consignee (the seller) should only be reporting their share of the sale as part of their taxable income, anything they paid out to the consignor is a deduction from the gross.
tobaccocardyahoo
·2 years agoThe amount paid out to the consignor is a deduction (cost of goods) just the same as any item you purchase for resale
And are you aware of when you might be required to file a 1099 form for the consignor? I am not, and do not take consignments because my tax returns and liabilities are already too complicated.
I do not sell anything I do not own, and would not consider it. Who knows, it might be infected with monkeypox and I might be liable for infecting someone.
meekamaye
·2 years agoeBay's 1099 will reflect the price of the sale. How do you tell eBay to submit a different 1099 for just this book. If she was selling it privately, the tax would reflect differently. She is not buying the book, she is selling it for someone else and reporting the seller's share of the sale will be reflected on her eBay 1099.
thelongball
·2 years agoGood question but can cause confusion that isn't needed. The 1099 comes to the seller from eBay. The seller will need to create a receipt that is signed by cosigner showing howe much they were paid for the book from the seller. That receipt then shows cost of goods. Other way is for seller to send 1099 in on cosigner but that can get tricky and complicated. Anytime something is truly rare its best to consider high end auction house. Thats what I do with anything that has bigger money potential. They have the mailing list of the big money buyers that are out there looking for the good stuff. They tend to bring in a higher price which gets the cosigner more money in the end. If it's not really indeed rare, they won't even want it but will tell you what to expect. You as a seller are really taking all the risk with too much potential to be scammed. Really consider your options.
meekamaye
·2 years agoI'm not selling the book so I am confused why you are addressing this whole thing to me. (Consider my options?)
redmodelt
·2 years agoI think they just click the wrong reply button. I and many others have had this happen. There is the reply button in each post that can be used to respond to that post and the dialog box for general replies.
1786davycrockett
·2 years ago@flp
Obviously, be prepared for NAD cases, particularly for items which are considered to be "rare."
I've heard and read too many horror stories on eBay about sellers sending off "rare" and "hard-to-find" items -- only to be slapped a short while later with the buyers claiming that the item was "not as described," and making up some phony story about "defects" which do not match the seller's original description.
And, when the seller accepts the return, the item which the buyer has sent back is -- drum roll, please! -- not the original item shipped by the seller, but often a similar item of significantly lesser value (with the defects the buyer had noted -- and more often old newspapers, or garbage -- or much worse!
And, unfortunately, eBay is of very little assistance to the seller, since the chips are stacked in the buyer's favor -- and the seller cannot even provide negative feedback to the buyer, to warn away any future sellers. The seller is forced to refund the buyer, and the buyer keeps the item -- often for resale to someone else.
My advice? If it is, indeed, that rare an item, offer it for sale as "local pickup only" on Facebook Marketplace or Craig's List or other "in person" sites -- and sell it ONLY for cash. That will avoid a seller claiming any chargebacks from credit card companies.
Many book people are honest -- but there are far too many who are only out there to make a buck from the unwary.
Be wary.
fbusoni
·2 years agoYes, signature receipt is a good idea. Make that clear in your listing, perhaps with bold font.
Once you make the sale, send a message to the buyer reminding them that you will be shipping with signature.
In my opinion -- because you have signature receipt -- there is no need to mention anything about the shipping address. The only reason to be concerned will be if the buyer contacts you after the sale to request that you ship to a different address, which of course you should never do.
I would ship priority mail in a cardboard box. Good luck!
caldreamer
·2 years agoJust be aware that anytime you sell items for "other person" EBAY will report income to IRS as revenue on your income tax bill (because your social security# is on your EBAY account).
bonjourami
·2 years ago"In my listing, I will require signature confirmation and tell the buyer that the address on file with eBay should be one where they can receive the package, even if they have to change it just for this book. "
Not sure what that means, but the buyer can also add another shipping address on the check out page.
a_c_green
·2 years agoTechnically, Signature Confirmation is not required by eBay to maintain seller protection against Item Not Received on sales below $750 (Delivery Confirmation will provide the same protection below $750 for free), but if you want to add it anyway, just state clearly within the listing that you will be doing so.
They don't actually have to change their default address setting; they just need to ensure that the Ship-To: address you will receive with the payment is where they want it sent, because that is the only place where you will send it. They have the opportunity to change their Ship-To: address at the time that they make their payment to you.