Community Pricing—You Set the Price!
Community Pricing offers some amazing deals on classic works. Thousands of Community Pricing insiders have walked away with books for less than the price of a latte.
To participate in our Community Pricing Program, simply view the available titles and place your bid at the highest price you’d pay for a title. As soon as we have enough orders to cover production costs, we’ll enter your order at the lowest possible price.
Publishing by the Numbers
Cover production costs—and nothing more.
We’ve asked our customers: “What’s the most you would pay for an electronic edition of this title?” By multiplying the number of people who would pay a specific price (or less!) by that specific price, we can estimate revenue at every price point—and, at a glance, see where we cover 100 percent of production costs.
If it costs $4,000 to produce an electronic edition of a book, 4 people can cover costs at $1,000 each, or 1,000 people can do it at $4 each. More likely, no one will want to pay $1,000 and, even at $4, there won't be 1,000 people interested in the title—but maybe 400 people would each pay $10.
What Does the Chart Mean?
We graph the progress for each book. The lowest price that reaches 100 percent is the price you’ll pay. Everyone who bids pays the same final price—provided their bid was equal to or higher than the final price.
To bid, simply click a dollar amount on the graph.
Once the peak of the graph crosses 100 percent, bids lock in on the following Friday.
How Should I Bid?
In the example chart, the book crossed the production threshold at $12. If your bid was $12 or more, you’re set. Even if you placed a bid of $20 or $30, you’ll still get the book for $12—or even less, if other bidders keep driving the price lower.
But if your bid was less than $12, it won’t be successful.
The bottom line? Bid the maximum 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 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 our post on Community Pricing bidding strategy.
And if you like working with numbers and want all the details, click here.
- Everyone pays the same price. As long as you don't undercut the final price, as soon as a title covers costs, you get the same price as every other successful bidder—no matter how high you bid. Until then, you can change your maximum bid as often as you want.
- The more interest in a title, the lower the price. You can lower the price for a title by encouraging friends to bid on it—even at low prices. The Logos customer base is large enough that with $5 from everyone, we could produce just about any title.
- You can cancel any time before you’re charged. We won’t charge you until we finish the book—four to eight weeks, usually. Once the best price locks in and the title goes into development, we’ll send you an email with the price and the change in status—and, even weeks into development, you'll still be able to cancel your pre-order if you want.
How It Works
- You must add a credit card for your account—without it, you can’t place bids.
- You review the list of titles. When you find books you want, you bid on them by selecting the highest prices you’d pay.
- You watch the real-time revenue charts. When any point on the revenue curve breaks 100 percent, we email every bidder with the good news and the specific price.
- On the first Friday at least two days (48 hours) past a title's breaking 100 percent, we end Community Pricing and confirm pre-orders at the current best price. We move the title to the Pre-Publication page and mark it as “Under Development,” and we set a new, higher price through the Logos Pre-Publication program. (People who didn't participate in Community Pricing can still save by placing Pre-Pub orders before we ship it at full price.) Also, we send you a second email if your bid equaled or exceeded the best price and let you know that your pre-order went through. If your pre-order was too low, you get bad news instead.
Participating in Community Pricing ensures that you get the best price and lets you decide which titles are produced first!
Frequently Asked Questions
Q. How does Logos profit from this program?
- Logos’ production estimates include a small profit and leave room for unforeseen production costs. More importantly, Logos gets to sell Community Pricing books once we make them—the real benefit for us is taking care of production costs.
Q. Why should I enter a high price?
- You don’t have to. You can pick the lowest price for every title—but if there aren’t enough people interested, the title will never break 100 percent. If you want to see a title completed, the best way to make it happen is to pick whatever true maximum price you’d be happy to pay.
Q. Why does the production cost look the same for every title?
- We don’t reveal the actual production cost or number of pre-orders. The revenue curves and production cost lines are accurate—but shown at such a scale that the 100 percent line is the same size on every graph.
Q. How frequently are the graphs updated?
- We update graphs in real time. After you place your order, press F5 to refresh the page—you might see a corresponding change in the graph. (This depends, of course, on both the amount you bid and the cost of production.)
Q. What kinds of books are offered through the Community Pricing Program?
- The model is best suited to public domain and out-of-print titles—titles for which a 'market value' is difficult to establish and to which no licensing restrictions apply.
Q. Will the electronic editions of Community Pricing titles be any different than other Logos electronic editions?
- No—these will be fully equipped full-text electronic editions. For some titles, we’ll be working from scans generated by our book scanner rather than from print editions—but the production process and the end result will be exactly the same as if we were working from a print copy.
Q. Are all the titles listed guaranteed to go into production?
- No. Only titles that get enough pre-orders to break 100 percent will go into production.
Q. After submitting a bid, I want to change it. Can I change my selection?
- Of course. Until bidding closes, you can change your bid at any time. Every time you click a price circle, in fact, you change your bid—the green shaded arrow on the graph shows your current price. You can see all your current and former bids and orders on the Community Pricing orders page.
Q. What if I bid $50 for a title, but the bid that succeeds (the “best price”) is $80? Can I then place an order at the $80 price?
- Yes—but only if you hurry. Place your new bid before the title changes status to “Under Development” and enters the Pre-Pub program. Status changes occur on Fridays at noon (PST). On the day the best price is established, you’ll receive an email telling you that your bid was too low and giving you the option to raise it. You’ll always have at least two days (48 hours) to change your bid before the bid closes and the title moves to Pre-Pub at a higher price.
Q. How do I know when I’ll be charged?
- Once a title receives enough pre-orders to go into production, we’ll notify you by email. The production process usually takes at least four to eight weeks for any title, giving you plenty of notice before your order is charged. You can cancel your pre-order at any time during the production process.