If you have many books around and are looking for ways to make passive income, consider flipping books. The best part about flipping books is you can begin with just reasonable cash!
However, book flipping doesn’t only mean selling the books you already have. If you want to make a side business out of selling books, you can frequently buy books and resell them for profit.
This guide will show you everything you need to know to make money by flipping books. Let’s begin.
Where To Find Books For Flipping
The first step in flipping books is to get quality books – books that are in good condition. You can’t head to your local bookstore and buy loads of books to flip. It doesn’t work that way.
The trick is to find top-notch publications that offer cheap rates. That way, when you resell the books, you can keep the profit margin. Below, you’ll find a list of places where you can find old books to resell for money.
1) Garage Sales
Garage sales are one of those places where you can never know what kinds of gems you’ll find. And that’s because most people sell stuff without knowing the value. But, of course, it could be that it’s not valuable to them.
Either way, you should always keep an eye out for any garage sales in your locality. You can find the best flipping textbooks from these garage sales and resell them for a higher price. It could be your jackpot.
2) Second-Hand Stores
You can find various books to sell from thrift stores or second-hand stores such as Goodwill. Most people don’t search at thrift stores when searching for books to flip. But it’s one of the best places to search for books.
There’s a high chance that you’ll not get a good resale deal on Amazon. However, you can use the platform to search for unique and high-quality books to bring you reasonable profit.
Aside from that, Amazon is also another good place for book arbitrage professionals. What you do is search via Amazon’s search results. Then search for a trade-in price that’s higher compared to the selling price.
If you purchase such books, you’ll earn good cash through arbitrage. What is arbitrage? It’s a term often used in economics for a phenomenon whereby you take advantage of a price difference between two markets.
eBay is another place to find cheap books as well. Most avid readers sell the books they don’t need anymore through eBay and similar platforms.
When searching for books to flip, look for high-price books in demand on eBay in the second-hand or used section. If the book is in good condition, there’s the likelihood you can resell the book profit.
Choosing Books To Resell For Profit
Always choose quality over quantity when searching for books to resell. Just buying any book and hoping to get a higher price won’t work. Below, you’ll find the types of books that can bring you good money when you flip them.
Textbooks should be your first option when you decide to make flipping books a side job. According to a study, nearly 45% of all students buy used books, while 10% purchase new ones.
Aside from that, the used textbook industry gets almost $5 billion annually, which makes textbooks an excellent place to start your business. Furthermore, it’s easy to acquire used books, and most students don’t use their textbooks again when they complete their courses.
You can find a place online where you can sell your textbooks. Some of the best places include:
If you’re not aware, book collectors will spend thousands of dollars to acquire first-edition books. So first-editions of popular authors and titles are worth lots of money if you can get your hands on them.
If you get your hands on first-edition books published 30-50 years ago, you can sell them for a hefty price to book collectors and book enthusiasts. Also, the older the first-edition books, the higher you can sell them.
You can make good money if you get rare books that are in demand. These rare books include out-of-print books that are still in demand. You can find these books at thrift stores and old bookstores.
You can sell these books on eBay or Amazon, but you have to become a used bookseller. However, keep in mind that you’ll have a lot of competition on your hands. So you need to be strategic.
If you have textbooks and can’t sell them, don’t throw them away yet. There are numerous ways to recycle those textbooks. So always keep your options open.
You should always keep searching for places where you can find books to flip. If you can have several specific places to source cheap books, you can make a significant amount of money. Just be transparent and honest, especially about the book’s condition.