How Used Textbook Sales Drive Prices Up

The price of textbooks is enough to make otherwise peaceful and intellectual college students nearly riot. Paying a couple hundred bucks for a basic biology book will do that to you. In response to this problem, many a used textbook service has popped up so students can trade them back and forth and not have to pay retail. Oddly, this actually drives up the cost of new editions.

Let me start off by saying that I've purchased used textbooks and was happy to do so given the price. I also happen to think the textbook pricing system is outrageous, particularly given the fact most college students aren't exactly rolling in dough! The debate over the cost of these textbooks has many sides. The impact of used textbook sales is one that isn't brought up that often, but needs to be considered.

I buy a new textbook for a class. I pay $180 for it. Of this price, the publisher and author are going to get a pretty solid chunk. I take the class, pass it and then sell the book. I sell it for $130. Of this amount, the site I use gets a piece and I get the rest. The publisher and author of the book get nothing. I can already envision you saying "good" rather forcefully and can understand why. While I generally agree with you, it is an important fact to understand because it has a huge economic effect.

What would you do if you were the publisher? You know the first run of textbooks will sell, but that the second run will sell very slowly because everyone is buying up the used version of the first run of textbooks. The answer should be obvious. You are going to charge more for that first run so you can be assured that you will cover the cost of both runs and make a profit. It is basic capitalism!

So, am I going to suggest that we all avoid buying used textbooks or what have you? No, not a chance. I'm merely suggesting that there are a number of reasons new versions costs so much and they aren't all do to evil publishers.

Mark P. Warner is with ReadableOnlineTextBooks.com - where you find readable online textbooks for your classes.

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