Total cost of the book is split among all the users of the book. If the new book costs $100, and there are 4 users of the book, the net cost of the book to each student will be only $25 each. Making the cost of Sharing cheaper then Renting the books.
Yes, you can list the books you currently own for sharing. When submitting the books for sharing, you will be asked for the price you would like to Share the book. The book will be listed at this list price for the book. As the book it shared further, all past owners of the book will a share from the sale price.
Book Sharing is a new concept where the total cost of the book is split among the users of the book. Each user of the book uses the book for a semester, and then pass it on to another user for sharing. If a book is shared by 4 users, the cost of the book for each user is 1/4th of the price of the book.
You can start sharing by either:
Buying a new book from iShare under the Pre Pay Method or Post Pay Method
List the books you have available for Sharing
Pre Pay book sharing is the method where either the book is purchased New or Used by the first user, or a user of the book lists their book for sharing. As the book is listed for sharing, any other user can purchase the book and the amount collected from the next user is divided among the past users of the book. Following example will provide more details:
Example: Student A purchased a new Textbook for $100
At the end of the semester if the Student is done using the book, they can list the book for Sharing
Another student B can purchase the book for $50,
This $50 is paid to Student A
At the end of the semester Student B can list the book for Sharing
Another student C can purchase the book for $33
This $33 is split and paid to Student A, and Student B This cycle will continue as long as the book is shared, and all the users keep getting paid for the book.
Post pay sharing splits the cost of the book ahead of time. Each user pays their share of the cost of books. Most books are shared among three users. Currently the users can buy the book for 1/3rd the cost of the book. At the end of the semester the book should be shared further with another user. If the book is not shared, the current holder of the book will be responsible for the outstanding liability of the book. Outstanding liability is calculated based on the cost of the book minus the amount of money collectively paid by the users of the book.
Using the Pre Pay Sharing - Amount of money you will save depends on the number of users sharing the book. If the book is shared by 2 users, each user net savings on the book is 50%. If the book is shared by 3 people, the net cost of the book will be 33% of the cost of book for EACH user of the book. If the book is shared by 4 people, the net cost of the book will be 25% of the cost of book for EACH user. As the book is shared, all the past users of the book are reimbursed.
Using the Post Pay Sharing - The sharing is estimated between 3 students, and each student pays 1/3rd of the cost of the book. Each student saves over 66% on the cost of the book.
You can make money by sharing the textbooks you have with other students. You can list the books for sharing at No cost, and as the book is shared all the users of the book make money as the money collected from the book sharing is split among the user of the book. Currently when you are done using a book, if you try to sell the book, you usually will get anywhere from 10-30% of the cost of the book. You can list the book at 50% of the cost of book, and as the book is shared further, you will collect additional share from the sale of book. You can recover as much as 90% of the cost of the book.
Textbook Sharing is similar to buying a book, and selling at the end of the semester or when you are done using the book. Difference is the amount of money you have to spend on getting the book.
Pre Pay Sharing - As a book is shared, the net cost of the book for EACH users goes down.
Post Pay Sharing - Each book is available for 1/3rd the cost of book, with remainder of 2/3 due if the book is not shared with another user at the end of the semester.
iShare Textbooks is not a book seller. But we are working with Book Sellers like Amazon, and Textbooks.COM so when you purchase a Book, the order is full filled by our partner book sellers. iShare Textbooks manage the sharing and money distribution to save money for users.