I mentioned last week that on Tuesdays I will be giving you a tip about how to save money on something other than groceries or how to make money. Today’s tip is how to make money selling your old books on half.com.
I love to read and am often given books as gifts. I also buy books at Half.com and Half Price Books. Occasionally, I buy from Borders or Barnes and Noble. I was developing quite a stack of books and was wondering what to do with them. Then I discovered Half.com. This is a division of eBay where you can sell (and buy) used books. I only sell my books but you can also sell CDs, movies, games and gaming systems.
The pros are you don’t have to drive to the used book store to sell your books. You can list any book with an ISBN number. So unlike other buy back websites out there, you don’t have worry about what they will accept. You also don’t have to pay a fee to list a book. You only pay if it sells. The cons are that you have to ship the book yourself and you do have to wait for someone to actually buy your book before you get paid.
So how does it work?
First, go to Half.com and REGISTER. Then you may want to look up a book or two so you become familiar with the format and what kinds of things people say to describe their products. Once you’re ready to sell your stuff you’ll see a link in the top right portion of the page called “sell my stuff.” Click what you are selling and Half will walk you through step by step. It’s really easy.
I generally price my book at the lowest price or below the lowest price. Then you are more likely to sell it faster. You could also price it somewhere in the middle but it might take a little longer for it to sell. If you decide you want to change the price after you’ve listed it, you can just go to the manage my inventory section and make any changes to price or description. You don’t have to build the shipping price into the price of your book. Half.com automatically adds$3.49 to the price of the book to cover shipping.
Once you’ve made a sale, you go to the post office or print a shipping label from home on USPS. Be sure you ship media mail. This costs $2.23 for up to 1 pound or $2.58 for 2 pounds. Check out the other media mail rates HERE. Half gives you 3 days to pack and ship the book to its new owner so you can plan the post office into your weekly errands.
This sounds great so far, what are the fees?
For starters, Half keeps $.85 of your shipping allocation. You get reimbursed $2.64 (of the $3.49) for shipping. Then they keep 15% of the selling price for sales up to $50. The commission percentage decreases for higher priced items. This may seem steep but if you sell a book for $3. You get $2.55 after Half takes their cut. Then they add $2.64 for the shipping allocation but it will only cost you $2.23. So you end of making $2.96 on a $3 sale.
How and when do you get paid?
Sellers will receive payment by direct deposit and will be paid twice monthly. Payment periods will end on the 15th and last day of each month. Your account balance at the end of each period will be deposited in your checking account about 7 business days after the end of the period. For example, if your seller account balance on the 15th of the month is $15, then you should expect a $15 deposit to your personal checking account in approximately 7 business days. Direct deposit is free and automatic so you don’t have to request it.
I really enjoy selling my things on Half.com. It’s also a nice surprise when I see the money pop into my account.