FINDERS KEEPERS

[Moderator]

Thanks.

The Suggested Retail Price always seemed misleading to me regarding books. I don't recall ever paying the SRP for a new book I purchased, but I have had to pay the SRP on books that are out of print for some reason.

Are royalties paid to authors usually based on the Suggested Retail Price, or some other number?

There isn't one set answer for that. In Steve's case, that's something that his agents negotiate with each of the publishers worldwide.

 

[DiO'Bolic]

There isn't one set answer for that. In Steve's case, that's something that his agents negotiate with each of the publishers worldwide.

Thanks for the info. Do the negotiations change by country in which a novel is printed in, or is it strictly by the publishers in those countries?

 

[Moderator]

Thanks for the info. Do the negotiations change by country in which a novel is printed in, or is it strictly by the publishers in those countries?

Not sure I'm understanding the question but the way it works is that his agent for foreign rights negotiates the royalties with the publisher in each country for each book so it's also possible that there will be a different remuneration for a different title. The English language rights are separate and negotiated by a different agent.

 

[John Excell II]

I just bought two SK boooks
the other day one the srp was $30.00 & the other book srp was $18.00 & I only had to pay $ 3.99
for Each one!!

 

[Bev Vincent]

Are royalties paid to authors usually based on the Suggested Retail Price, or some other number?

My royalties are based on the cover price, but the royalty percentage can change, depending on the medium and the discount. For example, I get a higher percentage for eBooks than for print books. However, if the book is sold at a deep discount (> 40% or something like that), the sale falls into a different category that has a lower royalty rate. That's probably generally true, but every publishing contract is different -- and it's definitely different from country to country.

 

[DiO'Bolic]

Not sure I'm understanding the question but the way it works is that his agent for foreign rights negotiates the royalties with the publisher in each country for each book so it's also possible that there will be a different remuneration for a different title. The English language rights are separate and negotiated by a different agent.

Thanks. Sorry for all the questions but money negotiations is always intriguing to me.

Another question on non-English language rights. Does the publisher do the translation from English, and is there any checking for accuracy by King's organization?

 

[DiO'Bolic]

My royalties are based on the cover price, but the royalty percentage can change, depending on the medium and the discount. For example, I get a higher percentage for eBooks than for print books. However, if the book is sold at a deep discount (> 40% or something like that), the sale falls into a different category that has a lower royalty rate. That's probably generally true, but every publishing contract is different -- and it's definitely different from country to country.

Do you have the ability (or right) to audit the publisher's numbers, or is it SOP to just take them at their word? I think it would be a near impossibility for an author to do an audit. And what happens if it would come out that the numbers were fudged (not an honest mistake) in the royalty calculation? Is it just adjusted, or is there some sort of penalty involved?

 

[Moderator]

Thanks. Sorry for all the questions but money negotiations is always intriguing to me.

Another question on non-English language rights. Does the publisher do the translation from English, and is their any checking for accuracy by King's organization?

They're provided with the file in English and then it is up to them to hire a translator. Since we're not fluent in the various languages, we have to trust that what they've done is accurate. We usually only know if it isn't when a fan complains about the poor translation.

 

[DiO'Bolic]

They're provided with the file in English and then it is up to them to hire a translator. Since we're not fluent in the various languages, we have to trust that what they've done is accurate. We usually only know if it isn't when a fan complains about the poor translation.

Thanks. Do you ever have problems with anything published in China as they are notorious for not caring much about copyright laws? And if so is it just chalked up to “not worth the hassle?” I have a friend who is a quality control supervisor at Martin Guitar and they have major problems with what is being done there.

 

[Bev Vincent]

Do you have the ability (or right) to audit the publisher's numbers, or is it SOP to just take them at their word? I think it would be a near impossibility for an author to do an audit. And what happens if it would come out that the numbers were fudged (not an honest mistake) in the royalty calculation? Is it just adjusted, or is there some sort of penalty involved?

Technically, I do have the right to audit their books, at my expense, but it would be terribly difficult in practice for me to do so. I think I'd only be worried if another author reported errors in their semi-annual statements.

One of the interesting aspects of the business is that there is a certain amount held back -- especially in the first few reporting periods after a book is released -- that's called "reserve against returns." They've "sold" a certain number of books to retail outlets, but they know that the bookstores will return stock if the book doesn't sell. So they don't pay royalties on that "reserve" number until the real figures come in six or twelve months down the road. Sometimes they've reserved too much, sometimes not enough.

 

[Bev Vincent]

Thanks. Do you ever have problems with anything published in China as they are notorious for not caring much about copyright laws? And if so is it just chalked up to “not worth the hassle?” I have a friend who is a quality control supervisor at Martin Guitar and they have major problems with what is being done there.

You should read a new book by Matthew Pearl called The Last Bookaneer, a novel that explores what used to go on in the 19th century before international agreements concerning copyright were codified.

 

[Moderator]

Thanks. Do you ever have problems with anything published in China as they are notorious for not caring much about copyright laws? And if so is it just chalked up to “not worth the hassle?” I have a friend who is a quality control supervisor at Martin Guitar and they have major problems with what is being done there.

Iran seems to be the bigger problem these days whereas Russia and China were the offenders in the past but not much can be done about it so goes in the "not worth the hassle" category.

 

[DiO'Bolic]

Iran seems to be the bigger problem these days whereas Russia and China were the offenders in the past but not much can be done about it so goes in the "not worth the hassle" category.

Iran, really? Tougher sanctions I say, just for screwing with Stephen King!

(Perhaps he should nuke them in his next novel. )

 

[Moderator]

Iran, really? Tougher sanctions I say, just for screwing with Stephen King!

(Perhaps he should nuke them in his next novel. )

Or praise them for having the courage to embrace Western culture in spite of the intransigence of their religious leaders which may be why they don't have a more formal publishing agreement? He's seen enough of that (intransigence) from Republicans to understand where it's coming from.

 

[DiO'Bolic]

Or praise them for having the courage to embrace Western culture in spite of the intransigence of their religious leaders which may be why they don't have a more formal publishing agreement? He's seen enough of that (intransigence) from Republicans to understand where it's coming from.

Killjoy!!!

And if I recall correctly, hasn't King killed off most of the world already in some work of his. At least Iran deserves it... well their leaders anyways, and there's always going to be collateral damage.

 

[doowopgirl]

I read the exerpt in EW and now I want ALL of it.

 

[jchanic]

But fair market value of a book with King's signature adds about $400 to $500 onto it. And hey, we're all suppose to like paying our fair share of taxes, right?

Usually, King's signature adds between $100 and $200 to the value of one of his books, except in rare instances (the signature is dated on or just after the book is issued, etc.) The only recent exception to this is a signed Mr. Mercedes, because King did no signings for this one. That one goes in the $450-550 range because they are so few.

John

 

[DiO'Bolic]

Usually, King's signature adds between $100 and $200 to the value of one of his books, except in rare instances (the signature is dated on or just after the book is issued, etc.) The only recent exception to this is a signed Mr. Mercedes, because King did no signings for this one. That one goes in the $450-550 range because they are so few.

John

Thanks for the info. But it's been awhile since I've seen an authentic SK signed novel for less that $400. I must be looking in all the wrong places.

 

[Moderator]

Usually, King's signature adds between $100 and $200 to the value of one of his books, except in rare instances (the signature is dated on or just after the book is issued, etc.) The only recent exception to this is a signed Mr. Mercedes, because King did no signings for this one. That one goes in the $450-550 range because they are so few.

John

What if it's dated before the book comes out?

 

[DiO'Bolic]

What if it's dated before the book comes out?

I thought he stopped drinking?

(when I win that Finders Keepers signed copy, can you get him to do this? )