Community Pricing offers some amazing deals on classic works in the field of biblical and theological studies. Thousands of Logos users have gotten books for less than the price of a latte or a gallon of gas (which is around $3.00 in Bellingham, Washington).
For example, a few years ago, the R.A. Torrey Collection went for $15 on Community Pricing, $69.95 on Pre-Pub, and it now sells for $119.95. Even better—until Friday at noon, you can pick up Henry Alford’s New Testament for English Readers for $16 or less!
How Does Community Pricing Work?
We estimate how much it will cost to produce a book. Let’s say a book costs $10,000 to produce. It could get into production under a number of scenarios:
- If 100 people bid $100
- If 1,000 people bid $10
- If 10,000 people bid $1
These are just examples, and this is a hypothetical book. There are also lots of other combinations of orders and prices that would get this to $10,000. But it should be clear that the more people bid, the lower the price is for everyone. It makes no difference what the final price is, as long as the costs are covered. The book will go into production whether one person bids $10,000 or whether 10,000 people bid $1. The math is the same.
What Does the Graph Mean?
Because there are endless combinations of orders and prices that push a project over the cost estimate, the progress for each book is tracked on a graph. This graph will give you an idea where most people are placing their bids.
You place a bid at the highest price you’re willing to pay. To do this, simply click on the dollar amount on the graph. Once the peak of the graph crosses the 100% threshold, bids are placed on the following Friday.
How Should I Bid?
Let’s say a project crosses the threshold at $16. If you bid $16 or higher, your bid is placed. That means if you placed a bid for $20 or $30 for Alford’s New Testament for English Readers, you’ll still get it for $16 (or less). Unfortunately, if you bid less than the closing price, your bid won’t be placed.
The bottom line? Bid the maximum possible price you’d be willing to pay for a book. If you bid high you’ll never miss out on a deal, but if you bid too low you won’t be able to change your bid after the title moves from Community Pricing over to Pre-Pub.
If you’re still not sure what to bid, check out Phil’s post on A Bidding Strategy for Community Pricing from a couple years ago.
How Can I Help?
- Bid on the books you want. Remember, you should bid the maximum amount you would be willing to pay for a book.
- Spread the word! The more people who bid on Community Pricing, the lower the price is for everyone.
- Subscribe to the Community Pricing RSS feed. That way you’ll be the first to know when a new title is posted.
What are you waiting for? Check out all the deals on Community Pricing today!