Inflation

The Price We Pay – Ten Year Edition!

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You know, now that I’ve reached this point I almost don’t know what to say.

Technically I’m not at my ten year anniversary of publication just yet. But I’m long past it in writing. Even if one only counts my career as “starting” when I first wrote One Drink all those years ago, I’d be past the point of a ten-year anniversary there, and I was writing long before One Drink came along.

But … we’re close. February 20th, 2023, to be exact, will mark the ten-year anniversary of the publication of my first book, and my foray into making a living as an author.

It’s been a long road. But I’m not hear to talk about that today. Instead I’m here to talk about something else, actually. My pricing. See, here’s the thing … I sort of haven’t updated most of my prices since I started ten years ago.

Axtara reflects a more modern price point. As does Starforge. But the rest of my library? Well, if you remember the classic (and still quite popular) post on book prices, The Price We Pay – Are Book Prices Too Much? from a few years back, I broke down the pricing points of my books and showed how they were chosen to reflect a price point below that of a 1994 paperback book.

It’s a pretty popular post for a reason, since it not only discusses my prices, but also those of the book industry in general, showing how people’s memories of prices—especially with regards to how inflation and the changing value of the dollar fluctuate over time and impact the price of goods.

But here’s the thing: That post? It’s out of date. Especially in the wake of the last several years, which has seen the US economy—and the value of the dollar—fluctuate wildly as the economy did its best to represent a Six Flags roller coaster. Combined with the fact that I’d not bothered to modify my price points since One Drink came out ten years ago, plus the drop in price as the “long tail” goes into effect … and my books have been rapidly dropping below market value.

Which brings us to today. Starforge has just released, at a newer price point, and the time has finally come. Starting today, as of this post going up, I will be updating book prices for (hopefully) the next ten years alongside updating the usual manuscript updates and whatnot to the latest editions. The prices will then go live over the next day or so.

I’ve been talking about it for weeks, so it shouldn’t be a surprise to any of you. And if it is … well, I really can’t be blamed for that.

The big gist of it is that book prices are being updated today. But … if you want a more detailed breakdown of what the new prices are, what the values look like compared to their prior price, and how that is modeled compared to the prices from 1994 … then hit the jump.

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The Pricing of Axtara – Banking and Finance … in 1994

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Here’s a fun one, folks! About two years ago I wrote a post called The Price We Pay – Are Book Prices Too Much? which investigated a (still) common complain that books were needlessly expensive—yes, even indie books—and that the prices needed to return to what many online remembered them being when they were younger, circa 1994.

This post took that declaration to task, examining it, breaking it down, looking at how the industry operated, then using math the readers could verify themselves to show that memory and nostalgia don’t always line up, and then from there showing that a wide range of books—Indie titles especially—are cheaper than ever thanks to advancements in technology.

The post also noted that where that isn’t true, IE where prices are higher it tends to be the big Trad Pubs who have deliberately eschewed modern advances and then as a cherry on top have sent their prices even higher just because they want more money.

To this day, this post remains one of the most popular on the site, collecting a regular daily stream of readers usually arriving from a Google search like “Why are books so expensive?” or the like.

But there was another factor in that post that made it, at least to me, quite memorable. It was when I went and adjusted the (then—tail prices have since taken effect with a few) prices of my own books back to 1994 cash to see what they were worth. And we got these two nifty little charts:

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The Price We Pay – Are Book Prices too Much?

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UPDATE: This post has now seen an update to reflect 2023 changes in inflation. You can see that post—with updated charts—here. Link will also be at the middle and bottom of the article.

Honestly, I was going to hold off on a second post this week until Thursday (I’m blitzing through edits on Jungle right now) but this post had already been on my mind, and then a discussion yesterday online regarding MacMillan’s continued crusade against libraries basically poured gasoline over the spark and, well … Here we are.

Look, something that I see brought up constantly online, including in the very post that kicked this whole chain of thoughts off, is the price of books. It’s a hot topic anywhere. There are a lot of people who see them as too expensive, too overpriced, whether digital or not.

And you know what? I think they’re wrong.

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