So, my manuscript is up for auction, any advice?

bluemoonscribe · Nov 15, 2007

This is not meant to be a bragging thread, I need some opinions. My agent called Tuesday with great news. I've been offered a book deal. She sent a notice to other publishers she'd submitted the manuscript to and they expressed enough interest that she's holding a small auction next week. She explained how it works and I'm pretty comfortable there.

But, I never dreamed I'd be in the position of having to choose between publishers' offers. My agent is awesome. I trust her to lead me through this process, but I was wondering if, as authors, any of you had advice on what is really valuable as far as contract terms, perks, bonuses, etc?

UPDATE

The auction started yesterday. Four houses are bidding a very respectable amount of money each book in a three-book deal. (I'll be more comfortable giving specifics when this is all signed and done. Sorry.) I've also been very happy with the bonuses offered. My agent is once again proving her absolute awesome-ness guiding me through this process, keeping the editors going and patiently explaining weird terms to me, like flow-through after payout. We went through two rounds of bidding and had to stretch it until today.

Thanks to all for their advice and kind words. I'll let you know how it goes!!

Don Allen · Nov 15, 2007

Just keep doing what you're doing, because you're doing something right.... and stop bragging, congrats!!!!!

bluemoonscribe · Nov 15, 2007

Don Allen said:
and stop bragging,

I knew it! I knew this thread was going to mark me as a tool forever. Dang it.

DeadlyAccurate · Nov 15, 2007

No advice, but major congrats! Maybe ORION will see this and stop by. I think Lottery went to auction.

Stew21 · Nov 15, 2007

not at all... tool...please. You should be congratulated.

and trust your agent to handle the details.
sit back and let your agent handle it.

congrats to you! Let us know how the auction goes!

Ziljon · Nov 15, 2007

I love that you wrote "Dang it!"

I have no experience--so I can't offer advice--but I'm curious if the publisher has read, or requested to read some of your second book?

Also, is it, as suggested by your bio, a chick-lit vampire story?

Anyway, you're not a tool, your the coolest bluemoonscribe we've got on this dang site. You go, girl!

bluemoonscribe · Nov 15, 2007

Stew21 said:
not at all... tool...please. You should be congratulated.

and trust your agent to handle the details.
sit back and let your agent handle it.

congrats to you! Let us know how the auction goes!

Sitting back. Thank you.

bluemoonscribe · Nov 15, 2007

Ziljon said:
I love that you wrote "Dang it!"

I have no experience--so I can't offer advice--but I'm curious if the publisher has read, or requested to read some of your second book?

Also, is it, as suggested by your bio, a chick-lit vampire story?

Anyway, you're not a tool, your the coolest bluemoonscribe we've got on this dang site. You go, girl!

It's a chick lit book. And the publisher read the first chapter of the second book, which is still in progress.

Judg · Nov 15, 2007

I have no useful advice on auctions, other than "celebrate".

As far as bragging is concerned, there is a whole forum dedicated to it here, called Goals and Accomplishments, where it is not only socially acceptable, but expected. Go for it!

Not that I'm offended by you telling us your good news.

rugcat · Nov 15, 2007

A good agent will give you the pros and cons about each publisher and let you decide. You just have to be clear about what's most important to you.

Who's offering the biggest advance, is just one factor. How active is each publisher in getting out the word on your book. You shouldn't expect a big advertising campaign for a debut novel, but some houses make a real effort where others are more likely to take a sink or swim approach.

What format do they have in mind? Hardcover, trade, or mass market? Each has their good points and their drawbacks.

Who would the editor be, and do they have a reputation for working closely with their authors or are they too busy?

Do they have a lot of books similar to yours on their list? That can show they're experienced in putting together a good plan for you. Or, if they don't, you may get more attention as a new direction for them.

Good luck, and may everyone at AW be faced with a similar dilemma someday.

ORION · Nov 15, 2007

You guys called?
Yeah I got advice. There are a lot of factors involved and you won't have to make a decision in a hurry. What happened with me is that each editor talked with me and told me how wonderful their house was and to let me get a feel for their vision for my book - then the day of the auction my agent discussed each offer - what the ramifications were -for each successive round.
the money isn't the whole thing - it's the marketing plan - North American versus world rights- etc...if you have any specific questions and don't want them public feel free to PM me...

MacAllister · Nov 15, 2007

And congratulations! That's marvelous news!

bluemoonscribe · Nov 15, 2007

AW is such a great place.

Thanks, guys!

triceretops · Nov 15, 2007

Wonderful news. So 'dang' happy for you!

Tri

job · Nov 15, 2007

This is so fine and excellent. Congratulations.

There are a half dozen important factors to consider. Rugcat listed most of them.

You're interested in the sort of support your book will receive, which editor at the house wants it, what your royalty is, what your advance is.

This is why you have an agent.
Take her advice.

If there's a real decision to make, sign off the phone and think about it for a few hours and call back.
Don't try to do it all at once.

James D. Macdonald · Nov 15, 2007

When the auction is over, chat with your agent. Make sure you understand everything. Then wait until the next morning before making your final decision.

Madison · Nov 15, 2007

unfortunately, as i do not have an agent, i do not have advice.............

but congrats, a thousand times, congrats!

Toothpaste · Nov 15, 2007

I'm with Orion. Marketing is a huge factor. I had four publishers interested, and even though on the surface it seemed obvious as one publisher was offering the most money wise, it wasn't that clear cut. I really liked how some of the publishers viewed my book, they seemed to really understand it and that mattered a lot to me. I also really liked two of the marketing proposals. I took a weekend to think it over, and talked about it with my agent as well.

So remember, you are allowed to take some time to think, and that your agent is there to help you.

And congrats! That's totally awesome!

Bo Sullivan · Nov 15, 2007

Congratulations. I wish I were in a similar situation. May be one day!

:Jump:

blacbird · Nov 15, 2007

Pray that George Steinbrenner wants it more than he wants Alex Rodriguez.

caw

jasperd · Nov 15, 2007

I'm thrilled to pieces for you!!!!! Congratulations....and right before Christmas!!

Enzo · Nov 16, 2007

An auction? Wow! I wish I were in your shoes. Congratulations and may the best publisher win!

JennaGlatzer · Nov 16, 2007

Such amazing news. Congrats, bluemoonscribe!

Stuff that not everyone considers important, but I do:

-Number of author's copies you get. I nearly always run out, and it just ticks me off to have to buy copies of my own book.

-Cover and title consultation. You'll rarely get "cover approval," but "consultation" is fair. I've had it happen several times that I didn't see my cover until it landed on Amazon, and... it hasn't always been a happy surprise.

-When the advance is paid. Most houses pay it in thirds (on signing, on halfway mark, on completion, or other variations), but some try to drag out that last advance payment until after publication, which can be a crazy wait.

-First look on the next book. If the clause is there, your agent will most likely strike it-- but just in case, make sure it's as limited as possible (they can have first look at your next book manuscript in the same genre, but they only get a limited time to make an offer, and you don't have to accept it. NOT that it's automatic that you'll accept the same terms for the next book).

gerrydodge · Nov 16, 2007

First, congratulations!!! Also, Will Lavender's novel went out for auction, and he is gracious and very smart. I think you should contact him as well. The advice here has been great, but the more the merrier. Congrats!!!

Garpy · Nov 16, 2007

My advice....go for the highest bid (which means balancing the advance offer against the rights they're asking for). The more money a publisher stumps up, the more committed they'll be to making sure they get that money back.....which means a better chance of getting some decent marketing spend, more aggresive placement in bookstores.

The counter argument to that is...'but what happens if my sales aren't enough to earn out a particularly large advance? Won't my reputation forever be mud?' The answer is 'yes'. But the alternative is worse...a publisher buys your book with a very modest offer and they throw it out into the market place without any fanfare whatsoever to fend for itself with all the thousands of other un-announced releases. If it falls flat and sells nothing (like most of those other unmarketed books) so what? They won't have lost that much. Meanwhile, the one book by an unknown author they paid a fortune for (hopefully you) will be marketed to the hilt, sell bucketloads, and the profit will cover the loss on all those other published-once-and-forgotten novels.

So...get as big an advance as you can, that'll guarantee loads of publisher support. And just make sure you keep 'em happy with one good book after the next.

So, my manuscript is up for auction, any advice?

bluemoonscribe

Don Allen

Seeking a Sanctuary of Intelligence

bluemoonscribe

DeadlyAccurate

Absolutely Fazed

Stew21

Ziljon

Tortilla di Patate

bluemoonscribe

bluemoonscribe

Judg

DISENCHANTED coming soon

rugcat

Lost in the Fog

ORION

Sailed away years ago

MacAllister

Tired and worried.

bluemoonscribe

triceretops

job

In the end, it's just you and the manuscript

James D. Macdonald

Your Genial Uncle

Madison

summertime...

Toothpaste

THE RECKLESS RESCUE is out now!

Bo Sullivan

blacbird

jasperd

Enzo

JennaGlatzer

wishes you happiness

gerrydodge

Garpy

keyboard monkey