I don't want to send the Retail Price Index through the roof but I have decided to drop my ultra-low price of 86p and leap back up to £1.71. Boo hiss!
There are a number of good reasons though, and I'll start with the obvious one: Amazon punish anyone selling their Kindle books for less than £1.71 (£1.49+VAT) by allowing them only a 35% royalty. Thus from an 86p sale, I would take only 26p - that is simply not enough of a return to reap an author a noticeable reward for his efforts unless he was lucky enough to sell huge quantities of books.
At £1.71 - I will take 70% royalty (minus an obscure 'delivery' charge introduced at this rate) which gives me 99p - a reasonable sum per book and one which I feel, can leave buyers with the satisfaction that they have paid a fair price for their ebook and the author has had his fair reward.
Of course, the priority for any fledgling novelist should be to acquire a readership - and not worry about trying to make money from it. I still hold to this principle so it may seem counter-intuitive on that basis to jack the price up, but I also feel that asking a mere 86p is sort of saying to people - "look my book may not be very good but come on, I only want 86p for it". In other words, by appearing not to value my own work, I may actually be losing sales.
Let's put it this way, if anyone reading this would like a copy of the book but doesn't want to risk £1.71 on it - then I will gladly send you a PDF of the thing for free - and you can pay for it afterwards if you like it!
Pleasingly, I have already had my first sale at the higher price - making a grand total of 35 sales. When you consider that some people struggle to get anyone buying their ebooks, I think that is a result which I ought to be reasonably happy with.
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