Trading book authors getitng screwed by publishers?

Discussion in 'Educational Resources' started by Jason Edwards, Feb 24, 2011.

  1. Hello ETraders,

    My friend is the author of a trading book. The other day I asked him how its sales are doing and he told me it sold about 200 copies in 2010. I then asked him how much he made. He told me his royalty cut is 17% and he got $190 in royalties for the 200 books. That translates to less than $1 per book!

    I checked the price of the book in several online bookstores and it sells in the range of $45 to $75. I told him he is possibly getting screwed by the publisher. He said he has no time to deal with this and gave me permission to pursue it.

    I would like to ask if there are people here who have authored trading books and had similar experience with their royalty payments. I sense a massive fraud here. If a book sells retail for $50 I would assume that the reseller buys it from the publisher for half the price, around $25. If the publisher claims he sold the book to a reseller for only $4 but the reseller puts a price tag on it of $50, then I smell a rat.

    I would appreciate your comments.