Book leasing

Leasing:

In this blog, "book" includes audiobooks and DVDs.

Leasing can be a valuable component of a library's acquisition strategy. Instead of buying multiple copies of best sellers and being left with an excessive number when their luster wanes, libraries can lease copies and return as many as they like when they are no longer needed.

Leasing companies send libraries a monthly list of likely best-sellers, three months ahead of their release dates. The list, which includes brief descriptions, is based on the size of the print run the publisher has ordered, the author's reputation, timeliness, and other factors.

The library director orders one or more copies of each desired book up to the number of books contracted for. Highland's contract is for 240 a year.

The number of books contracted is almost as important as their retail prices. Books retailing under $26.00 count as one book, while $26.01 books (and up to around $35) count as two. So, a library can get twice as many $26.00 books as $26.01 books.

The number of leased books a library can have on hand at any given time depends on the size of the package. For instance, Highland pays $3,625.00 a year for 20 books a month and can keep as many as 400 before some have to be returned.

The leasing company does all the prep work (labeling, bar coding, etc.) so the books arrive shelf-ready at about the same time they hit the bookstores. Prep work takes considerable time and cataloging expertise. So much so that some libraries will not accept donated books. The employee's time is worth more than the book.

Leasing companies pay all shipping costs, to and from.

They also refurbish returned books and offer them at a deep discount. Distributors sell new books at a 40% discount (some more, some less). Baker & Taylor offers refurbished books at a 75% discount. They also allow libraries to keep one book for every 5 leased books returned free. McNaughton also discounts refurbished books but the literature I don't yet have the details.

Leasing is a great way to build a collection if the library, but its is determined largely by the director's level of sophistication in assessing the community's interests, and in evaluating a book's value relative to leasing price strucures.