Making money online is becoming more diverse every new day.
Of all the online business ideas, i never thought selling books online could make it on the list. But i was surprised to see that people love reading physical books as much as they surf the blogs.
I’ve written previously about how to sell used books online for extra money “Make Quick Money By Selling Used Books Online.“ Today I’m going to show you how to buy textbooks online at sites like Ebay, and then how to resell them online for a profit at places like BookScouter.com. Consider it my sweet revenge against the bookstores that overcharged college student 😉
READ ALSO: 41 Easy Ways To Make Money Quickly
Here’s how to do it…
There’s a handy little tool I use to make this work at BookScouter.com. Their site will let you plug in a book’s ISBN number and then it will tell you how much the book is worth and which buyback company will give you the most money. I use this tool before buying a book to make sure that there is a company willing to pay more for the book than what the Ebay seller is charging.
Let me give you a couple of examples I found this week…
Here is a screenshot of an auction that just closed for the book “Fundamentals of Physical Geography.” It was sold for $52.50 (plus $3.99 for shipping) giving the buyer a total cost of $56.49. Using the tool at BookScouter, I see that Moola4Books.com is paying $61.25 for the same book and they will cover the cost of shipping if I send it to them, giving me a profit margin of $4.76.
As you can see the profit margins aren’t huge on a single book, because there are several other Ebayers playing this trade-in game. However, if you can average a $5 profit margin on each book, you only need to buy 5 books everyday to pocket an extra $750 dollars each month! Considering there are over a million textbook auctions on Ebay right now, it shouldn’t be too hard to find 5 books a day to resell.
If you do decide to sell textbooks for cash, there are a couple of things you need to remember:
- Be sure to check the condition of the book before buying it. Most buyback companies expect a little wear and tear, but if there are ripped pages or severe damage to the cover, they probably won’t accept your book.
- Pack your books carefully. Most buyback companies will give you a prepaid shipping label, but you are responsible for your own packaging. If the books are damaged during transit, you’ll have to eat the loss.
- Be careful of payment fees. If you are offered the choice of a Paypal payment or a check payment, keep in mind that if you choose Paypal, you will need to deduct those fees from your profit margin.