San Diego, CA (PressExposure) August 28, 2009 -- Recent government and industry studies indicate that college textbook prices over the past 20 years have increased more than 200%, or twice the rate of inflation. This is the retail price offered by the textbook publishers. âThe same textbooks can actually be purchased online for up to 90% less,â said Bobby Brannigan, CEO, ValoreBooks.com, a major used online textbook website.
The Internet has revolutionized the used college textbook market by allowing the development of efficient online marketplaces to connect buyers and sellers from around the world.
At ValoreBooks.com, for example, a leading student online marketplace for used textbooks, a used copy of âChemistry: The Central Scienceâ eleventh edition by Brown and Lemay, which lists for $194.40, was recently available for $62.97. The same book was offered on Amazon.com for $119.95.
Often, a book that is no longer used at one school is still used at another. With an online marketplace, a student can easily list their book online and sell it within days to a student at the other end of the world. So, instead of a textbook sitting in the back of a college studentâs closet, it can be sold and reused.
The average college textbook has a life of three to four years before a new edition is produced. With each year that a textbook is in use, more used copies become available. Considering the fact that college and university enrollments are increasing rapidly, especially in the recession, along with the fact that at least 25% of students decide to keep their textbooks after their classes end, the supply of used textbooks may not meet national demand until year three or so.
So, what does this mean for college students looking to save money by purchasing used textbooks? Figure out which books you need and buy them early. For the first three years of a textbookâs life there will not be enough used copies available to meet the needs of students worldwide. So, if you want to save big bucks this semester on used textbooks be sure to buy them as quickly as possible. To make the most of your purchases remember to sell your textbooks back as soon as the semester ends rather than waiting.