OnlyIndie Wants to Sell Your Book for $0 and a Penny More

Print Friendly

By Jeremy Greenfield, Editorial Director, Digital Book World, @JDGsaid

A new website has an innovative way of selling e-books and intends to become the largest e-bookstore on the Web.

At OnlyIndie.com, every new book starts at $0. The first 15 downloads are free and every download after that is a penny more, up to a maximum of $7.98, a number chosen by the site’s founders in response to what they see as too-high e-book prices at other retailers. If a book isn’t downloaded for 24 hours, its price begins to slowly drop per an algorithm designed to take 100 days to bring the price back to $0.

For instance, if a book had sold 100 copies in its first week, the 101st copy would cost the buyer $0.86. The site calls itself “the world’s first dynamically priced ebook store.”

As for royalties, authors get 50% of the sale price on books priced up to $1.99 and 75% for books from $2 to $7.98. Authors get royalty statements and checks every two weeks and can set their own upper limit on the price of a book as long as it’s below $7.98.

Users can join the site for free, but if they want to buy any books for more than $0, they have to purchase a minimum of $3 of credits using PayPal or a credit card. The site currently has about 750 users, a third of which have set up paying accounts.

While the privately funded OnlyIndie has only sold about 1,000 books in its two month existence and has only 30 books up for sale, the co-founder and CEO of the Miami-based start-up, Karol Gajda, isn’t worried.

“I’m more interested in going slowly and regularly improving,” he said, adding that the site has already broken even on its costs, which are only server time and royalties.

Gajda, 31, and his two co-founders reach out to authors personally to ask them to put their books up for sale on the site. Each book is vetted by hand. The company wants authors to feel as if they are being attended to personally and has no immediate plans to scale the business quickly.

“Right now we’re in a mode of getting feedback,” Gajda said. “If somebody wanted to submit 1,000 books, we could accept it, but it takes approximately five minutes per book, so it would take a while. We’re not interested in automating it just yet.”

One early victory for OnlyIndie was getting businessman Mark Cuban to agree to sell his e-book, How to Win at the Sport of Business: If I Can Do It, You Can Do It, on the site. It’s currently available for $0.46, which could present a problem for OnlyIndie.

Amazon, famous for lowering its prices in response to those on other sites, could get wind of the low price and match to compete. So far, it hasn’t happened. Cuban’s e-book is currently available on Amazon for $2.51.

Beating the world’s leading e-bookseller at its own game – not bad for only two months in operation.

“The hope is that it becomes the largest independent e-book store on the internet,” said Gajda.

The screenshots above were both taken on 6/21/12 at 7:00 PM ET.

Hat tip on this story to Matt Gartland at Winning Editsfor being the first place we saw OnlyIndie written about

Write to Jeremy Greenfield

Related Posts:

4 thoughts on “OnlyIndie Wants to Sell Your Book for $0 and a Penny More

  1. How has it beaten Amazon? The only good thing is it has not gone bankrupt in two month. It certainly is not selling books. Not selling books is hardly a sales innovation.

    • Thanks for the comment, Will.

      As we wrote in the article, OnlyIndie is undercutting Amazon on the price of the Mark Cuban book. Amazon has gotten famous for matching or beating the prices of its competitors. In this case, OnlyIndie had the lower price.

  2. Variable pricing like this is nothing new. It’s been done in the music industry for well over ten years. We’ve been using it at Damnation Books for new releases–coming up on three years. Initially we used the variable pricing model for the first three months but after problems with a few distributors and author objections, we now only do it for the first twenty-four hours a books is released–and from our website only. A book goes live on our website, the first download is free. Then the price rises by twenty-five cents with each ebook download until either the twenty-four hours have passed or the full retail price is reached.

  3. My big hang-up with Only Indie is that they have no published terms of service or acceptable use policy. That rather make sit look like they aren’t serious or professional.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>