That favorite book on your shelf—how much is it worth to you? Sure, ebooks count, too. Would you say five bucks, easy? Ten? Twenty-five? Might you go so far as to say priceless? How can you put a value on one of your most cherished possessions?
Imagine you’re publishing your very own volume, and imagine you’ve got to slap a price tag on it. So you study the marketplace, other forms of entertainment, and how you spend your dough in general. If you look at it all too close, I guarantee you’ll go nuts.
Take my upcoming tome, for instance. We’ve got a collection of 11 shorts stories, more than 70,000 words, 212 pages in a 6×9 paperback. I can conservatively estimate that it takes five hours to read this book. Probably longer. That equates to three days’ worth of viewing to an avid Netflix user, the value of one buck. On the other hand, compared to the average movie theater, the value jumps up to around $20. The time value tops a staggering $50 looking at the cost of CDs. Stacking it against the cost of downloading single MP3s at $0.99 a pop is completely off the charts.
A froufrou Starbucks drink could run you a five spot. A gallon of gas goes for $3.45, a gallon of milk $3.64, and most people pony up about $50 every month for their mobile phone service. Using those kinds of expenditures to price your book twists one’s brain into knots.
Logic says look at the marketplace. Logic says consider book size, genre, author recognition. But logic, my friends, has no place in book selling. Logic can go take a flying leap. You can find new copies of paperbacks starting at one penny. Loads of ebooks are being given away. There’s no true middle ground, no one reasonable average, no apples to apples—even if you find an apple, you can bet it’s thick with worms.
There is no right, there is no wrong. I’m left figuring what I want to make per paperback and ebook, and price accordingly. The ultimate bottom line’s with the reader, anyway. If you love my book, the sky’s the limit—how can you put a price tag on love? If you hate it, you wouldn’t want to give me two cents for it. Sure.