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- Jun 2, 2008
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Does anyone know how exactly a bidding war works? Say you've written the Great American Novel and your agent has subbed it to a half a dozen houses, each one more determined than the next to get it. What happens then?
Does your agent keep calling you every time there's an offer, giving you advice but with you having the final say?
How long does the/can the process last?
Can houses retract an offer? I know sometimes in Hollywood, there can be a feeding frenzy on a script, then one studio backs out and the rest do as well--you go from turning people down to can't-get-arrested. Does that happen in publishing?
How does a preempt work? Is it like a publisher says, "I will give you one million right now, but you have to say yes before the phone call is over." And is it legally binding on both parties if you do?
Thanks, all.
Does your agent keep calling you every time there's an offer, giving you advice but with you having the final say?
How long does the/can the process last?
Can houses retract an offer? I know sometimes in Hollywood, there can be a feeding frenzy on a script, then one studio backs out and the rest do as well--you go from turning people down to can't-get-arrested. Does that happen in publishing?
How does a preempt work? Is it like a publisher says, "I will give you one million right now, but you have to say yes before the phone call is over." And is it legally binding on both parties if you do?
Thanks, all.