I am always surprised at how many college students feel that they want to hold on to their textbooks and not maximize there value by selling them at buyback. Textbooks, like cars, are a depreciating asset. The greatest value for a textbook is seen selling it as early as possible.
I remember standing in line one day and watching the people in my class sell back their book for $55 apiece. When it was my turn they only offered me $20 for the same book. What happened? Why did I get less? It is the basic laws of supply and demand. The buyback program was only going to purchase so many copies back at the premium price. Once those were purchased the offer price drops as the books are no longer being purchased for your campus, they are being purchased for the wholesale market.
So how do you get the most value for your books? For starters you should have a sense of what the current online market looks like. How many sellers are selling your textbook and what online buyers are currently paying for it? This will help you make an informed decision while in the buyback line.
Next, sell you books back before your final class. As soon as your test gets out everyone in your class will be running to the buyback counter to sell back books. If you are not one of the lucky few who get to the line early you may not get the premium you are looking for.
Finally, don’t be stupid! If they are offering you 30% – 50% of the value of the book sell it now, don’t hold it until later. Your books will just sit on the shelf and collect dust for the next twenty years. You will pack and move them five times and then realize the information is out of date and they are worthless. We live in the information age where you can reference anything online; does that book really have a magical power that will help you succeed in a job?
By: Jeff Cohen
