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FREQUENTLY ASKED QUESTIONS |
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| Q:
Do I really save by participating in buybacks? |
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A:
Yes, a lot! Last year, the Co-op paid over $4 million to students for their
used books. By aggressively purchasing used books and participating in buybacks,
you can save up to 75% off the new book price. For example, if you bought
a used copy of an $80 book for $60 and then sold it back at the 50% price
of $40, you would pay only $20 for the use of the book; that's only 25%
of the new book price.
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| Q:
What do I need to bring with me to sell my books? |
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| A: Just bring your books and especially, your current University of Texas ID card. |
| Q:
What benefit does the buyback service provide to Co-op members? |
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A:
We buy as many titles and books as possible, and we pay our members the
most we can for their books.
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| Q: How else
can I sell my textbooks? |
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A:
You can also post your textbooks on the USED
BOOK CLASSIFIEDS.
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| Q:
What determines how much is paid for a book? |
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| A:
The buyback price is determined by various factors. Textbooks fall into
one of three categories. During the course of a semester or buyback period,
a title may move from one category to another based on demand. |
- Half-Price
Book Buybacks
If we know a book will be used next semester, we will pay 50% of the
current new book price. Once we meet our needs for that title, we might
purchase additional copies for used book vendors.
- Books Not
Ordered for Courses for the Upcoming Semester
Used book vendors determine the prices they will pay for certain titles.
The Co-op acts as the vendor's agent and buys the book for the wholesale
vendor. Therefore, we must use their prices. Nationwide demand, current
vendor supply, and anticipated revision dates are factors the vendors
use to determine the prices they offer.
- Books We
Are Not Buying Back
There are four reasons why a book might not have any buyback value:
- A new edition has been published.
- There is little or no nationwide demand for the book.
- There is excess wholesale supply of the book.
- The book is in poor (nonsalable) condition.
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| Q:
How much is paid at buybacks when no instructor has ordered the book? |
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A:
Wholesale prices are based on each used book vendor's determination of the
market value of a specific book. The prices paid depend on the age, popularity,
and subject matter of the book. Used book vendors risk buying a textbook
that then changes editions, rendering it worthless. Used book vendors specialize
in determining market value by predicting demand and trying to anticipate
when books will change editions.
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| Q:
Do bookstores make money from wholesale books? |
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A:
Used book vendors pay stores a small commission on books they purchase.
This supplements the expense of conducting the buybacks.
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| Q:
When does the Co-op buy books back? |
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A:
The Co-op buys books at national market value year around. Typically, the
best time to sell your books is in May and December, when we offer 50% buybacks.
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| Q:
Does the Co-op really care about offering students the best possible deal
at buybacks? |
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A:
Yes! The Co-op was formed to provide the best possible services to the University
of Texas community. It is a not-for-profit, co-operative corporation that
is owned and governed by its members. The Board of Directors is comprised
of four students, four faculty members, and a faculty chairperson. The profits
earned are used for the benefit of the members through distribution as patronage
rebates (over $1 million this year), gifts and grants (totaling over $1.7
million this year) to student organizations and the UT community, and reinvestment
into the Co-op to create new services and improve current services.
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universitycoop.com