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July 26, 2007

Life For Sale

This morning, I drove into New York City to meet a friend for breakfast and heard this bit of news on the radio:

Call him Jumpin' Jack Cash.

Keith Richards, co-founder of the Rolling Stones, is starting up the bidding war for his life story and is likely to get lots of satisfaction as publishers have already pushed the price tag for the advance to $7.3 million in the hottest biding war of the year.

By late yesterday, the bidding had narrowed down to two houses, HarperCollins and Little Brown.

...

At the outset, Richards' only goal was to beat the nearly $5 million advance that Eric Clapton snagged for his memoir, due out this October.

Richards had an advance of $1.6 million to write his life story for Bantam in the 1980s, but gave it back after he supposedly told the publisher he couldn't recall enough to fill a book.

As I am currently a little strapped for cash, I have decided to officially put my own life story on the auction block. Although I am not a rock legend or one of the living dead, I did once cause such a scene in Wal-Mart that a security guard was compelled to flash his sidearm at me. You know you want to know all of the sordid details. Bidding starts at $7.30.



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comments

Awww. Couldn't we just get the story for free? I'll add you to my technorati favourites.

It's a compelling offer, Imani. If I figure that being in your Technorati favorites will translate into, perhaps, 5 clicks over to BookBlog, it will likely earn me an additional two cents in ad revenue. And that would be two cents more than I have at the moment. Hmm...

You know a good deal when you see one. Think of what all those pennies could do!

(Do these celebrity biographies ever actually make a profit after the publisher showers the person in cash and then splurges its entire budget on marketing? I remember something about the British publishers putting out flop after celebrity flop last year when mega advances turned into meagre sales.)

I've read a bunch of articles about huge advances for celebrity bio flops in the UK, which isn't much of a surprise since the UK has a huge tabloid market. It makes sense for book publishers to want to capture a share, and they wouldn't be able to get celebs to start negotiating without ponying up big money.

On this side of the ocean, I have no idea how the genre performs. It's my understanding, though, that most American multi-million dollar book deals go to politicians and Oprah (although I haven't heard any recent news about whether or not her book is actually forthcoming). Bill Clinton surely made back his mega advance considering it set first day non-fiction sales records and currently has more than 2 million copies in print.

How about...added to my Technorati favorites plus I'll buy your drinks when I visit NYC.

Deal?

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