Amazon may be the largest retail online store in the world today, but Jeff Bezos originally started out by operating the “Earth’s Biggest Bookstore” from his garage until Amazon started in 1994, and sold books exclusively until 1999.
Selling books online is continually proving to be an amazing way to make some more cash. You can rid yourself of all that book clutter by selling them off instead of throwing them away, and pass on those books too valuable to be thrown away to others. Amazon offers a wide range of book selling opportunities, including the sale of new books! It can provide a steady source of income and reach your personal books need. No matter the circumstance, it’s a win-win situation!
It’s no news that not many people know that a large number of Amazon’s sales are made by third-party sellers and not by Amazon itself. In fact, CEO Jeff Bezos admitted that third-party sellers were responsible for most of the profit made in 2017. Good news! Most of these sellers sell books! With book sales skyrocketing daily (everyone just wants to find that particular book or read nowadays), selling books on Amazon gives the push you need to kick start your eCommerce business with very little investment!
Sale on Amazon is characterized by a Best Seller Ranking(BSR) Index. All it takes is one sale and you’re ready to fly! The Best Seller Ranking on a book determines the number of sales the book would make.
This means if your book is ranked as #1 on BSR, you could make millions of sales in a day! However, if it is ranked much higher, say with a BSR of 3 million, it would probably take weeks, or even months to make just one sale.
In essence, work smart. Bestselling Books on Amazon yield a great amount of profit. The lower your book’s BSR, the greater the chance of making quick sales.
If you’re going to hit it big in online book sales, you must master the art of sourcing. The most profit is made by those sellers who are highly creative (spontaneous, outside the box thinking). If you work hard, you’d probably hit gold a few times enough to satisfy you, but working smart avails endless possibilities!
Rather than rely on just well-known sources of book sourcing like garage sales, thrift stores, auctions, etc., do something out of the blue. You never know what you might dig up, and at almost no cost too!
Before you start out on Amazon, you must exploit some sourcing methods and create a book inventory. Since you don't just want to sell one or two books, you have to create a large enough inventory that will still leave a satisfactory amount of profit after deducting shipping fees and other costs. This way, you increase your chances of making faster and quicker sales at a lower cost. It’s efficient and highly profitable.
Amazon offers different types of seller accounts for its sellers:
• Professional Seller
• Individual Seller
The difference between these two accounts lies in the charges applied. While a professional seller has to pay an amount monthly to trade ($39.95 monthly), individual accounts are free but a price is charged on each sale made ($1.00 per unit). Basically, it is cheaper to open a professional account if you think you’re going to sell many books monthly (more than 40 units of books).
After creating your seller account, you can then proceed to list the books you have available for sale. Your inventory listing can either be scanned in automatically, but you might also decide to list in your inventory manually. This way, you can also check the conditions for each book. Amazon provides for a number of conditions which books can be listed as:
• Used — Like New
• Used — Very Good
• Used — Good
• Used — Acceptable
You should know that it is very important to check the appropriate condition which your book is in, to avoid bad reviews upon sale and delivery. Book conditions also determine the price points assigned to each book. Naturally, a used (very good) book would cost more than a used (acceptable) one.
It is important to get the word out there! Using social media to publicize your online venture offers it the opportunity for sales to kick off faster. Rather than just using social media accounts to catch up on old friends and family members, promote the books you’re selling and watch your sales go through the roof!
Selling books on Amazon is not as complicated as it looks. With the right tips, the process of selling even used books on Amazon becomes fairly easy, compared to when one does not have the right information surrounding retail arbitrage.
Amazon charges a $1.80 closing fee on all of their media items. Books are also included in this category. You also need to take note of Seller Central fees, whether you’re an individual or professional seller. Individual sellers are charged $1.00 on each item sold. On the other hand, professional sellers pay a monthly subscription fee of $39.95 and are exempted from per-sale fees.
Only books sold through Amazon Advantage can be sold free. Author Central allows books to be sold free to customers on Amazon Prime. These books are free from shipping costs and are based on customer demand.
You can sell books back to Amazon through Amazon’s Trade-In Program. Eligible items are traded back into the market for an Amazon Gift Card.