This is brilliant. I had no idea that was how it all worked - how very stressful for you people on the inside! And thank you for all the encouragement for those of us who aren't Richard Osman - great as he is...
Thanks for emphasising that underbidders can win, and the decisions involved in choosing – Can You Solve the Murder? went to auction and I did indeed go with an underbidder. The highest bidder was offering significantly more money, but I just didn't feel their vision was right for the book, whereas the winner's vision was completely aligned with my own. Everything that's happened since has reassured me I made the right choice, too.
Thanks so much for this post! I’m curious (if you’re open to sharing!), what percentage of your list is books that went to auction vs. books with preemptive offers vs. books where you were the only editor who offered?
Thanks Phoebe. Sometimes it can feel that all your friends are in auctions and receiving six figure deals, while you are wondering if your own deal will keep you in biscuits for the next month. So it's nice to hear it's actually quite rare. Go Mr Osman. He probably had biscuits iced with potential book covers in his auction.
Thank you so much for this, Phoebe. I doubt I will even write anything that will go to auction, but I'm still fascinated by how the industry works, and always keen to learn more.
This is brilliant. I had no idea that was how it all worked - how very stressful for you people on the inside! And thank you for all the encouragement for those of us who aren't Richard Osman - great as he is...
Thanks for reading!
Thanks for emphasising that underbidders can win, and the decisions involved in choosing – Can You Solve the Murder? went to auction and I did indeed go with an underbidder. The highest bidder was offering significantly more money, but I just didn't feel their vision was right for the book, whereas the winner's vision was completely aligned with my own. Everything that's happened since has reassured me I made the right choice, too.
Good to hear!!
Thanks so much for this post! I’m curious (if you’re open to sharing!), what percentage of your list is books that went to auction vs. books with preemptive offers vs. books where you were the only editor who offered?
Good Q I will look!
Very enlightening. Thanks so much Phoebe.
Thank you for reading!
Have you had any near misses - where you didn't win on something that then flopped?
Good question! I’m sure I have… I can’t think of a particular example but there will be one!
That is so helpful, thank you! I had no idea how it worked, and it does indeed sound very stressful!
Thank you for reading - glad it is helpful!
Thanks Phoebe. Sometimes it can feel that all your friends are in auctions and receiving six figure deals, while you are wondering if your own deal will keep you in biscuits for the next month. So it's nice to hear it's actually quite rare. Go Mr Osman. He probably had biscuits iced with potential book covers in his auction.
It really is! Thanks so much for reading x
Thank you so much for this, Phoebe. I doubt I will even write anything that will go to auction, but I'm still fascinated by how the industry works, and always keen to learn more.
Thank you for reading and you might do!!!
Thank you for this hugely valuable insight 'behind-the-scenes' of a book auction! It's so interesting to hear what happens.
Thanks for reading! Glad it is interesting!
‘Sometimes, books are turned down by every editor in London aside from one, and then go on to be huge bestsellers. It really does happen!’
Just like Decca turned down the Beatles. 🙃
Haha exactly
Haha! Thanks for reading Richard!