The most difficult step for allonymbooks in the process of independently publishing our novels has not been the writing, the editing, nor even going up to Kindle-reading strangers on the Tube and telling them about allonymbooks. It has been choosing the price at which to sell the novels.
Pricing of e-books is frequently in the news, from the lawsuit against Apple and leading publishers for colluding over prices, to the consequences of the RandomHouse/Penguin merger. There has been much speculation about what effect these factors might have on the market, and much continued grumbling among the readership about pricing of e-books in relation to their printed counterparts. As Waterstones are going to discover now they have engaged in the Kindle market, the business model is not only different, it has also been blown open by the wealth of independently published material now in circulation.
So here are some questions to consider. And probably precious few answers.
How much is too much?
An e-book is generally expected to cost less than its printed counterpart because it doesn’t require the physical resources of printing, distribution and retail handling, but the index of prices for print-published e-books has been broad and highly erratic. Some of that is caused by the pricing algorithms used by Amazon and Barnes and Noble, as articulately explained by Alex Marshall in a piece for Bloomberg. Some of that is also caused by print publishers themselves, who are clearly extremely uncertain about how much to discount the print price by. They can choose to fix the Amazon e-book price in a way that they cannot control the retailer print price, but it is frequently observed that Kindle versions of print-published books are often surprisingly expensive.
So what figure seems reasonable to pay? Let’s consider Hilary Mantel’s latest Booker Prize winning novel, Bringing Up the Bodies. On Amazon (UK) it is currently priced as follows: Print List Price £20.00; Kindle e-book price £9.99. The print list price is presumably based on the standard retail price of the hardback. £9.99 seems reasonable in relation to that, until you read on and discover that Amazon are selling the hardback for £8.86, and the paperback at a pre-order price of £6.89. £9.99 for the e-book now looks very expensive, a price Continue reading