Bargain Hunting for Books, and Feeling Sheepish About It

By DAVID STREITFELD writing in the NYT, December 27, 2008

Book publishers and booksellers are full of foreboding — even more than usual for an industry that’s been anticipating its demise since the advent of television. The holiday season that just ended is likely to have been one of the worst in decades. Publishers have been cutting back and laying off. Houghton Mifflin Harcourt announced that it wouldn’t be acquiring any new manuscripts, a move akin to a butcher shop proclaiming it had stopped ordering fresh meat.

Bookstores, both new and secondhand, are faltering as well. Olsson’s, the leading independent chain in Washington, went bankrupt and shut down in September. Robin’s, which says it is the oldest bookstore in Philadelphia, will close next month. The once-mighty Borders chain is on the rocks. Powell’s, the huge store in Portland, Ore., said sales were so weak it was encouraging its staff to take unpaid sabbaticals.

Don’t blame this carnage on the recession or any of the usual suspects, including increased competition for the reader’s time or diminished attention spans. What’s undermining the book industry is not the absence of casual readers but the changing habits of devoted readers.
In other words, it’s all the fault of people like myself, who increasingly use the Internet both to buy books and later, after their value to us is gone, sell them.

This is not about Amazon peddling new books at discounted prices, which has been a factor in the book business for a decade, but about the rise of a worldwide network of amateurs who sell books from their homes or, if they’re lazy like me, in partnership with an Internet dealer who does all the work for a chunk of the proceeds.

Read his full story online.