[wdcbooks]

From about 1997 to 2002 I worked as a dealer of rare books and still maintain an interest although I don't actively work in the trade. I started by buying a first of 'Fellowship of the Ring' for $5 and selling it for $500. From there I scouted local bookstores for items to resell on Ebay. Much like a poker player moves up, I started to realize that it was far more lucrative to buy high end merchandise and resell it than to buy $20 books and resell them for $50.

At the time I was in college and was going to school full time and working full time. I was dead broke, but I was paying bills in the thousands to Christies, Cheffins and Grain and Bloomsbury. I would buy lots at auction and have the books shipped from the UK to my home in Massachusetts, where I would resell them on ebay. I specialized in early travel literature, but I sold just about everything at some point. It was essentially arbitrage, books in the UK were priced lower than those in the US, and US buyers were less finicky about condition. After time that opportunity dried up as did my time. The price differentials weren't there anymore and I didn't have the capital to sustain the business. In the time I dealt though, I made a decent living and it allowed me to pay my child support and maintain a pretty good lifestyle.

I see two ways to enter the business. The first is to accept a shop assistant position and start to learn the position. You may need a second job to pay the bills, but you can start to spot value and buy and sell on your own. If you can get a job with Buddenbrooks or Heritage, the ideal job would be a subject expert with them, but there are few stores that are large enough to have a staff that is paid beyond that of a retail assistant.

The second is to become expert in a couple of areas by reading everything out there and scout for underpriced volumes and be very very selective about what you buy. Rigorously segregate your book funds from your spending money and track your progress. I found auctions and poorly run bookstores that hadn't discovered the internet age to be the most lucrative buying venues.

I had some incredible books pass through my hands and I only wish I had done a better job at treating it like a business. I found the Ebay stuff and the packing and shipping to be tedious. I would be happy to answer any questions if anyone other than Jim has interest.