It seems the last year the buy-in scam has become far more common. Here’s how it works … you are invited to contribute a story or an essay to a compilation book. In return you will be given a percentage of all the sales. The catch? They want cash up front. The amount they ask for can be anything from $100 to as much as $5,000.
Most recently one person was doing a complication of 100 chic-lit stories. All I had to do was give them $500 and they would not only publish my story but also guarantee me a percentage of sales.
A few months before that a publisher was asking only $3,600 from 10 different people. They claimed the money was for the marketing budget, and we would all be given a percentage of sales.
Before that was the 100 Halloween horror story compilation. All I had to do was give them $250 and they’ll publish by Halloween horror story and pay me a percentage of every book sold. The publisher gets $25,000 before the book is even out the door!
Is this a scam? ABSOLUTELY. You don’t need to pay to have your book published and anyone who tries to get you to pay is a scammer.
If you actually start looking into the books they’ve previously released (if they even have any) you’ll see their sales rank at amazon is horrible and that means nobody is buying the book. So you just paid money for a book that will never sale.
What does that do for you?
Don’t fall victim in the buy-in or co-publishing scam.