Do you all know how I got started in the whole world of selling online? It’s actually quite the interesting story.
I started selling on Amazon when I was in college. I was a part of a Facebook group for students and in this group students sold textbooks to students to avoid the high cost of the bookstore.
I saw an opportunity.
I knew that textbooks could be resold on multiple platforms and I realized that the prices of the books in the Facebook groups were much lower than the trade-in value. An arbitrage opportunity was spotted and I decided to take advantage of it.
I simply started asking students for the ISBN numbers of their books and then I would search them up on the different trade-in platforms. If I saw money to be made, I would buy the books. If not, I would pass. It was actually quite simple.
I did this for 3 semesters at college and here were my results:
Spring Semester 2012 (when I spotted the opportunity): $250ish
Fall Semester 2013: $1,000 – I ran out of cash to pay the students for their book (#cashflowissues). I bought myself some nice golf clubs.
Spring Semester 2013: $5,000 – I took my wife to Jamaica to celebrate
I literally sat on Facebook, searched for trade-in prices, and met students at the library. That was it.
The process for textbook arbitrage is really simple.
- Figure out what books are for sale
- Search the ISBN numbers on a trade-in platform (3 of them are listed below)
- Purchase the books that will make you money
- Make sure the books are in good condition and have all the required materials (always check to make sure they aren’t international editions).
- Submit the trade-in and print out the free shipping label
- Send off the books
- Make money
Now that you see that the process is actually quite simple, you can start to think outside of the box a bit.
Case and point: Our new Textbook Arbitrage Extension
Since I am no longer a student, I don’t have access to the college sources of inventory (actually I do since I work at a university, but that isn’t the point I’m trying to make).
I know that there is money to be made from this textbook arbitrage method, but I needed to find another place that had a large number of sellers that might not know about the trade-in programs offered from other sites (or even Amazon for that fact).
Wait a second. Wasn’t Amazon created as an online book store…….
So how I can quickly identify which books are going to be a good candidate for a trade-in program?
Well, I literally started out by search a genre of textbooks and clicking on each and every one of them. I know. Time consuming.
So I decided that there had to be an easier way. And thus, our Textbook Arbitrage Extension was born!
Since we released our new Google Chrome extension late last week, we have had a ton of questions since then. I want to take the time to answer of a few of them right now.
Is this legal?
Well yeah. You are just purchasing books and reselling them at a high price. You are just playing the middle man and taking advantage of the arbitrage opportunity.
Can you buy using Amazon Prime?
Well no. You should follow the same rules as you do when sourcing for Amazon to Amazon flips. Mike has a nice post about this that you can read here. The first few paragraphs should answer your question.
Chris. This pays in Amazon gift cards. I can’t pay my bills with Amazon gift cards.
Well there are a few points I want to address here:
- You can actually buy your Comcast internet service through Amazon (I don’t know if you can pay with gift card or not).
- Of course Amazon is going to pay you in Amazon gift cards. They can actually pay a premium by doing this. You will notice that Amazon typically offer 30-50% more for a book trade-in since they are using their own gift cards.
- The magic is in the converting of these gift cards into cash.
I say magic, but it’s really not that complicated.
There are a few simple ways to do this:
My personal favorite:
Amazon isn’t the only place you can trade-in books……
Looking to get cash, try searching on one of these pages:
You can also get creative….
Have some people that are always buying from Amazon? Buy their items for them and have them pay you in cash. Do the same with businesses, etc.
Set an initial investment and build up your bankroll to actually buy the things you use on a daily basis (like food, clothes, etc).
How do I know if there is additional materials that are supposed to accompany my book?
Why is this limited to 1,000 people?
Well, we wanted to make sure that market wasn’t flooded. After some research (both internal and external), we decided that 1,000 users would still render arbitrage opportunities and keep the market from being saturated.
Will there be support for the application?
Yes. We always back the items we sell.
Here is the exact description from our Gumroad page:
This extension will only be sold to 1,000 EVER. Get it now, or you will never have the chance.
Please note: The Amazon trade-in process does pay in Amazon gift cards. You will need to convert the Amazon gift cards to cash when you are ready to cash out.
I’m officially coining the newest type of arbitrage: Textbook Arbitrage
Textbook arbitrage is the practice of finding textbooks at low prices and trading them in through a trade-in service.
Looking back at my Amazon career, this was exactly how I got started.
I decide to build a Google Chrome that would speed up the process of doing Amazon to Amazon textbook flips. The exact process is explained in a video you will get with this purchase, but essentially you buy a textbook from a 3rd party seller and then immediately trade it in via the textbook trade-in program.
If you decide to purchase the extension, you will get the following:
1. The extension and all future updates to the extension
2. Three videos explaining the instillation, the trade-in process, and advanced techniques to help you in the world of textbook arbitrage (2 videos will be coming at the actual release date).
3. The knowledge that you are 1 of the 1,000 who will have this for life.
A few other things you should know:
1. This tool does a basic task. It is your responsibility to research the condition and needed supplements for each textbook. Don’t just assume you are getting the right book.
2. Buying this tool does not guarantee you will make money. I can’t control the Amazon marketplace, so there is no telling what books will be listed at what time.
3. This tool only works as shown in the videos. Please understand what it can do before purchasing.
If you have any questions, please feel free to email me directly at firstname.lastname@example.org
If you want the app now, you can click here or purchase it below 🙂