Antique malls:

Antique malls may be worth a glance because some of the dealers will not understand the value of their books. Unfortunately, this is less and less the case as dealers turn to the Internet to set prices. On occasion, you will find other book-related items in these booths that have substantial value. Hint: think turn-of-the-century recipe pamphlets, Second World War informational booklets, etc.

Estate sales:

Estate sales have to potential to be a primary source of book stock. You may find a book or two, or you maybe able to buy an entire home library. It is not uncommon to find that you are able to buy tens of thousands of books at one time. Just remember how many people have boxes of books sitting in the attic. It up to you to make and offer when the time is right.

Used bookstores:

Book scouting at used bookstores is a touchy subject for some people. They would argue that by scouting you are cherry-picking the stock on the shelves. In a sense this is true, but in fact you are paying exactly the price that the bookstore owner was asking. Most storeowners will not have a problem with your scouting, but it is important that you show their store the respect that it deserves. If an owner asks you to leave, you must do so. Remember that there are limitless opportunities to buy books so don’t sweat loosing one place.

There is a new type of bookstore that has become prevalent in the last decade. It is the new & used corporate bookseller. These stores like Hastings, Half-Priced Books, and Powell’s, are a gold mine of books if you can locate one on your scouting route.

New bookstores:

New bookstores may provide opportunities to buy stock. We occasionally buy new releases that are on sale below the Amazon value. These books will sell within minutes and will return a small but reliable profit.

Wholesales stores like Costco or Sam’s club:

Wholesales stores like Costco or Sam’s club are a source of newer books that can be sold quickly. See, “New bookstores” above.

Craigslist:

If Craigslist hasn’t caught on in your area yet, just wait, it will soon. Craigslist is a free online classifieds that is taking over that classifieds world. On Craigslist there is a section that is dedicated to books. Watch these ads because people will list boxes of books that they just want to get rid of. It is also a good idea to watch the free section, because people will advertise needing some one to get rid of their attic clutter or basement mess. To you and me this might mean boxes of books.

Ebay & Amazon:

This is a method that takes more skill and experience but can substantially boost your profits. Watch for books that are rarely listed but that sell for high prices. When there are none for sale on a marketplace some sellers will not know at what price to list. Watch for a seller to unknowingly list one for substantially under value. You scoop up their copy and realist it for the higher price. If you become comfortable with this system then you could move on to more traditional arbitrage were you look for prices on one market to differ substantially from the prices on another and you buy and sell between the two. We rarely take advantage of these situations but have had a few windfalls. We advise caution as this is a difficult system to master.

Next lesson, the bookstore.