Over the past several weeks I have been negotiating with a book publisher located in the United States.
They offered me $50,000.00 for the rights of all ten of my novels. Sounds good, huh? Every author’s dream coming true! I TURNED THEM DOWN!
It wasn’t a difficult decision to make. Simple math tells me that 10 divided into 50 is only five thousand per title. UNCLE SAP takes $15,000.00 in taxes. That leaves $35,000. BUT, the $50k is an advance against royalties. In essence – a loan on which I have to pay taxes. Now for the major caveat; Robert Hatting would be required to make seven public appearances per title. (70 book signings) Where? In the United States at locations and dates of their choosing, but at my expense. I asked what kind of marketing budget they had allowed for this deal and they responded -- up to 10% of the advance! (swell—up to $5,000 to promote 10 titles.)
I love SKYPE because I was able to laugh at this guy in his face. They wanted ALL rights (including e-book rights) and were willing to pay me 15% royalties twice a year. (e-book royalties are 35% at the very least. Some retailers pay as high as 80%) Currently I receive my royalty’s monthly and with ePrintedbooks I get 80% immediately.
Oh, yeah, as a bonus they were willing to advance me $500 against my eleventh novel, HART RULES (80% complete) and $250 against my twelfth novel, SHOOTER (25% complete).
Although I have a vivid imagination it’s difficult to visualize me leaving this paradise of Panama to sit in some Barnes and Noble store in Boston near Xmas to hawk my wares.
By posting this on my blog I’m sure I’m burning a bridge. However, I suffer from a busted giveashit! (It’s a mental condition that creeps up on you as you get older.)