Books make you rich — not just with knowledge, but also in terms of real money. How? Today I will share a simple method to make money selling used books. Instant cash in your hand!
Arbitrage, or leveraging the price difference of a product/commodity in two different markets, is one of the easiest and safest methods of making money.
In the financial market, there is a huge arbitrage market in forex and equities/stocks. Traders buy a currency or a share in one stock market and then sell it immediately on another stock market. It’s like having money laid out on table. What if we could find such arbitrage opportunities for books?
You can buy books for CHEAP, or even FREE. Head to thrift stores, used-book stores and even online portals/marketplaces. Example, you can buy a book for $5 and then sell it for $10. You make an instant profit on your investment using arbitrage. Rinse and repeat as many times you want.
There are plenty of online bookstores that buy used books. Based on your country location, you will have to find the ones that you can sell to. If you are in the US, you can try bookstores such as Bookbyte, TextbookRecycling, Textbooks.com & SellBackYourBook.
Quick Overview: Make Money Reselling Books
- Find online bookstores & marketplaces that buy used books in your country.
- If you live in the US, download the BookScouter App for smartphones or use the www.bookscouter.com website if you don’t have a smartphone. If you are in the UK, try www.webuybooks.co.uk
- Start scanning some of the books that you own and sell them. Ask your friends & family for more used books to sell.
- Buy used books from thrift stores, used-book stores, garage sales, Craigslist and just everywhere you find bargain books.
- Check out online marketplaces such as eBay & Amazon as well.
- Find the right buyer, ship your books and collect money.
- Rinse and repeat!
Reselling Your Books in US
BookScouter.com is an online tool that you can use to check for deals on used books. You can use their smartphone app or manually enter the ISBN number on their website, and find out what different online bookstores are willing to pay for any particular book. BookScouter helps you sell books for the highest price by comparing prices from 57 book-buying websites. You can quickly find who is paying the most for your books. BookScouter is free.
Reselling Your Books in UK
If you live in the UK, try www.webuybooks.co.uk. It’s similar to BookScouter. You can type in the ISBN number for books and sell it to the right buyer for a profit.
Make money with books in your attic
You don’t even need to invest any penny to start this method. Imagine how much EXTRA money could you earn selling books gathering dust in your attic. After you are done selling your own book pile, ask your family, friends, co-workers, etc. for books that they want to dispose of.
Earn profits reselling used books
Pre-owned bookstores are a great source of finding books that you can resell for a profit. Book sales, garage sales & yard sales are all great opportunities to buy books for reselling.
You can also find books for FREE or pretty cheap on Craigslist.org, the free online classified advertisement website. On Craigslits, you can find books for sale in these two sections: “For Sale → Books” & “For Sale → Free”. You could get big boxes of books for a few dollars, spending just pennies on each book.
Don’t ignore other places where you can find books for cheap. Try eBay & Amazon for deals.
Buy books that earn a profit
With our arbitrage method, we do not have to buy books that won’t sell. Buy only those books that you can sell instantly and turn a profit. When shopping for used books to resell, compare the price that you can get by selling them. If there is a profit margin, buy!
Walk into a used-book store or thrift store with your smartphone with the BookScouter app. Start scanning books and see how much you can sell them for online. If an online store will give you $10 for a book that you can buy for $5, you just made money!
The best books to look for are educational & course books. Try to get college text books. These books can fetch good money.
More books = more money.