January 10, 2015 in 

A process whereby a title is submitted, particularly by a literary agent, to several selected publishers to secure the best offer or highest price. Auctions sometimes run to several rounds and may end with the exercise of topping rights.

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. Auctions are used in various industries but are perhaps most commonly associated with selling antiques, art, and collectibles.

In the publishing industry, these events are sometimes used to sell the rights to a book that has not yet been published. This is known as a manuscript auction, and it can be an effective way for an author to find a publisher for their book. In a manuscript auction, the author will typically submit a synopsis and sample chapters of their book to several different publishers. The publishers will then place bids on the manuscript, with the highest bidder winning the rights to publish the book.

It can also be used to sell rights to books that have already been published. This is known as a rights auction, and it is often used when a publisher is looking to sell the rights to a book they no longer have an interest. For example, if a publisher has acquired the rights to a book that is no longer selling well, they may hold a rights auction to sell those rights to another publisher who may be able to do more with the book.

Auctions can be a helpful tool for both authors and publishers and can be used to find a home for a book that might otherwise not be published.

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About the author 

CJ McDaniel

CJ grew up admiring books. His family owned a small bookstore throughout his early childhood, and he would spend weekends flipping through book after book, always sure to read the ones that looked the most interesting. Not much has changed since then, except now some of those interesting books he picks off the shelf were designed by his company!

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