It’s the end of the quarter, and summer fun beckons. You waltz into the bookstore, armed with that $80 Biology book, hoping to get at least $40 to put towards your summer road trip. After waiting in line for what seems like an eternity, you get up to the counter only to find they want to offer you “what!?” for that book! If you’re like many students, you sell back your books at the end of the quarter to recoup some extra cash. I hear the moaning and grumbling from fellow classmates, each one having a bigger Bookstore “rip-off fish story” to tell. I must confess that I, as well, am guilty of griping about buyback. How dare the Bookstore only offer me $2 for that $30 film book!
I recently met with Interim Bookstore Manager Kevin Ellison, however, and began my understanding of the buyback process. I realized that the bookstore isn’t some scam artist, trying to make a buck off the starving college student. Unbeknownst to me, there are actually two sides to the book buyback system: bookstore readoption and wholesaler buyback. And so, listen up class, thus begins our lesson for today.
The Bookstore itself buys back books through its bookstore readoption. They will only buy back books that will be used in the ensuing quarter, which at the time of this publication, would be books used in Summer Quarter 2003. The Bookstore offers 50 percent of the purchase price of the book but will only take a certain number, knowing that not all students purchase their books from them and not having sufficient storage space.
“Some students are upset because we don’t buy their books back, but there are restrictions that we have,” said Ellison. Publishers may put out new editions which instructors adopt or the book may be out of print. He also noted that the same class may be offered, but different professors may require different texts.
But what if the class you took isn’t offered in the next quarter? Are you out of luck? Never fear. If that book is not going to be used next quarter, you have the option of selling your book to the wholesalers, who make it available to other schools. Wholesalers have a larger buyback policy as they have a broader range of demand. That greater market also carries a higher markup, however, translating into less green in your pocket. Wholesalers must factor in shipping, additional staff, and a host of other costs, so as a result, they offer the seller less buck for the book.
But wholesalers aren’t out to rip students off either. Ellison cites that wholesalers are taking a chance buying back books, not knowing if they are going out of print or if a new edition will be released. Since wholesalers buy in such great bulk, this can equate to a loss in revenue if the book is not used.
Contrary to what seems like popular opinion, bookstore buyback is not a cash cow business. Ellison stresses that the buyback process is actually about saving the student money by offering used books at a discounted price. He points out that the Bookstore makes every effort to buy back used books from students or wholesalers in order to give the student a price break. Additionally, the Bookstore allows wholesalers on site as a courtesy to students, so as to give them access to a greater market in which to cash in their unwanted books.
Bookstore buyback this quarter will begin on Tuesday, May 27, and will run through Saturday, June 14, with the wholesaler onsite during the second of those weeks. The Bookstore will buy back books for Summer Quarter during normal operating hours. Check the Bookstore for specific wholesaler hours.