If anyone tells you that all markets are perfectly efficient, (no one will), then refute them thusly: used books don't always sell for what they are worth. Case in point: My senior year at the U of C, I went to the University of Chicago Regenstein Library Annual Sale (or whatever they call it). The books for sale were not only library discards, but also books donated from various corners of the university community. They do a preview sale for library staff, and then they open up to the whole university for a couple of days. Prices go down. Towards the middle or end of the sale, I forget which, hardbacks were $1 and paperbacks were 50 cents. I bought several David Eddings paperbacks and boy am I happy about those - I've since read and thoroughly enjoyed them. But also, I picked up a hardback book by a noted language commentator, William Safire. The book was in terriffic shape, and I peeked inside to see whether it could be so pristine and also be a library discard. It wasn't a library discard. I learned from the title page that it had belonged to the late Professor James D. McCawley, of the University of Chicago and fairly well known in the linguistics community. Impossible to overlook farther down on the title page was the inscription in blue ink, to said Professor. I hoped it was signed and inscribed by the author, but when I saw that the first name started with a big B, I was discouraged. Then I realized that the last name looked about right. The signature was Bill Safire. The author. And of course, it's a first edition (1988). For $1. End of story.
"Is sloppiness in speech caused by ignorance or apathy? I don't know and I don't care." --William Safire
Books by William Safire(O=own, R=read, E=enjoyed)
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