How Do You Determine the Price of Your Book?

[Gamal]

I just wrote a piece on setting prices for self published work and attracting new readers. Do you think my idea makes sense? http://t.co/YxFDh5Sa

Thanks in advance.

Have fun.
Gamal

[Christine]

Great post. Entertaining and accurate :)

I like to price mine at $2.99 or higher due to the Amazon royalty percentage increase. But one short story should be $0.99 or free.

[Gamal]

I think I have come to the same conclusion Ms. Christine. How many other price points did you try before you settled on $2.99?

[W.H.]

I too have set the price of my second book at $2.99, which seems to be the most common price set for self published books, bext to free or 99c. My first if free, but not on Amazon (unfortunately).

I would recommend downloading "The Secrets of eBook Publishing Success" written by Mark Corker, founder of Smashwords. It contains a lot of useful information based on actual sales on Smashwords, and makes intersting reading.
W. H. Cann

[Lorinda]

I have one novella (18,000 words) priced at $1.99, but the rest of my books are very long and I price them at $3.99. This is for Kindle and Smashwords. This gives me room to reduce the price for specials.
For my print versions on CreateSpace, CS sets a minimum price. It's rather high if you take the Expanded Distribution Channel. I always do take that, because I want people to be able to buy the books through bookstores. You can add as much to the minimum price as you want, but I always add as little as possible. This still gives a reasonable royalty if the sale is through Amazon or through the CreateSpace store. Unfortunately, there is no way to reduce the price for specials.