Could Your Old Books Be Worth Lots of Money - Even in a Recession?

In an age of ebook readers like Kindle and Nook, actual books may seem almost old-fashioned. But collectible and rare books still get significant interest from book collectors. I know. I've sold books full-time and still occasionally buy and sell some. It isn't my main occupation now but I've kept track of book prices through the years.

That's why I know that it is entirely possible you could own a book which is worth a small (or large) fortune. Even in a recession, people are still paying plenty for select books. Some valuable books aren't even old. Others could be volumes you've inherited from family members and lugged from one home to another.

Maybe you'll be as lucky as the Ebay seller who sold a first edition of The Joy of Cooking for $4,475 on June 25, 2010, proving that even in tough economic times, there is a market for collectible books. That same book or one worth just as much could be lurking in your attic or bookshelves. Don't assume it is impossible.

Okay, so maybe you don't have an old copy of The Joy of Cooking? Then maybe you have a first edition of To Kill a Mockingbird, published in 1960 (not exactly the Dark Ages). I've seen this exact book and am still kicking myself for not trusting my instincts and buying it for a song. One sold on Ebay for $3,805 on June 10, 2010. The book wasn't even in prime condition and had some rips and tears.

Online resources can help you find out how much your books are worth

So how do you figure out the value of your books? In many cases, it isn't all that hard, as long as you have a few basic guidelines. Online resources can be an excellent start. But not all online sites are the same. I use them in a certain order to try and narrow down a book's possible price range.

Ebay should be your first online resource for getting a rough idea of a book's value

Yes, some book collectors don't think much of Ebay when it comes to determining a book's value. They believe the auction site is hit or miss. But a book is only worth what someone is willing to pay for it. Lots of experienced book collectors check Ebay prices regularly.

Collectors also pore over the auctions, hoping for a bargain. To some buyers, $3000 can be a bargain if they think the book will soar in value - as some books do. Experienced sellers on Ebay not only show photos of books but list their identifying points, the details that separate out a first edition or rare book from imitations. One risk of Ebay is that some final auction prices can be highly inflated when bidders get in a bidding war. But astute book collectors know how much a book is truly worth and won't bid above a certain price limit.

Next, check out Addall to discover help figure out how your book's value

When you go to Addall, found here, you need to be a bit careful. You'll have a choice of checking for recent or used books. Unless you bought the book in the last few years, opt for the Used book column. You also have to spell the book title correctly. Get one letter wrong and you won't have an accurate search and may mistakenly assume no copies of your book exists and that it is extremely rare. I've made this mistake.

It also helps if you include any special information. Perhaps the book is signed by the author. Addall makes it easy, including a box for you to check if your book is signed. Be sure to look for books that match yours exactly. If your book isn't in near perfect condition, don't assume the price for your sun-faded book will match the prices for a book listed on Addall in prime condition.

Even if you see high prices listed for your book, don't assume that the book will sell for that much. Remember...a book is worth only what someone actually pays for it. However, if you have a truly rare book, there is a decent chance that you'll get a closer idea of its worth by using Addall. You can be cautiously optimistic.

Advanced Book Exchange (AbeBooks) is a user friendly site to figure out how much your book is worth

This site lists books from all over the world but prices reflect those asked by booksellers. The home page is found here . But you'll want to stop by the Rare Books Room, a lovely and unique online resource. It can be found here . Even if you don't have any of the copies shown there, you might eventually luck into one at a garage sale, used book store or other location. This section of AbeBooks is also a wonderful way to learn about the history of books and how and why some have become so desirable.

These are only a small sampling of online resources for determining a book's value. They can be excellent starting points for your research. Here's hoping you have a book worth thousands!