As some may know, publishing goes on a kind of hiatus between Christmas and New Years. I’ve always found this strange since it is also when a lot of books are sold, but I also have stopped trying to figure out the whys and wherefores of this industry that provides my income.
So anyway, my agent planned on January 5th to be the day to provide Rhune to a number of editors she thought might enjoy the series. She already gave them warning it was coming and thought it would “go quickly” so she had her ducks in a row. She was right.
Within a few weeks we had multiple offers in, and a few more saying, “Wait for us, we just need a few more days.” One of the offers was from EXACTLY who I wanted, and for an advance that showed they valued me and my work. There were a few points of clarification regarding how many books, which rights would be sold and which would be held back, but none of those were sticking points.
So we did a “reverse pre-empt.” What’s that you may ask? Well, it’s something I made up, but I think it fits. For those that don’t know…a pre-empt is when a publisher makes an offer (usually a very attractive one) and says to the author…sign this now before any of the other offers come in. It’s usually done to prevent an auction where the price goes up and up as publishers are pitted against one another.
When the offer came in from the publisher we are going to publish with, my agent said, “I like the offer, but I think a few more will still come in. A number of people are rushing to get through the process, and I’ve told others who have made offers that they will have to up their advances.”
My reaction, “Tell them not to bother, we’re going to be taking this one.”
Now that sounds really stupid. Why not hear what others have to say? Why not get the BEST deal you can? Well, to me. I DID get the best deal. I got the publisher I wanted and an advance that I felt was in line with the value of the series. If another publisher came back with a slightly higher (or even largely higher) offer, it wouldn’t change the fact that I wanted to work with THAT publisher. Besides, I have every intention of earning out my advance, and so any other offer wouldn’t mean “more money” it would just mean “more money sooner.”
Bottom line, I had the publisher I wanted, a fair price, retained the rights I wanted (foreign and audio)…in short I already got everything I wanted.
All that being said, we don’t have a signed contract yet, but I’m not overly concerned with that. We ironed out the important points before agreeing to the deal. Sure, there will be some back and forth over particular contract points, but this isn’t my first rodeo, and I know what to expect on that front.
I don’t want to say who the publisher is until they may an official announcement. But I’ve already seen a draft of the “Publisher’s Marketplace” announcement and once it is approved by their PR firm and out publicly I’ll come back and tell you more.
For now, what I can say, is I’m thrilled with the choice, and they are too. Always good to be doing with people who you WANT to do business with. I’m very excited.
Awesome news! Congrats, Michael! I bet I know who it is, and that sounds like a wise choice.
Thanks Tim…I’m curious who you think it is – send me an email 😉
Congratulations michael and robin. Although you said the self publishing route would have gotten the books in my hands sooner I’m super happy for you both!!
Thanks Patrick…yes traditional does mean it will take longer…if we had self-published this series the first book would be coming out in 2015, with it going traditional it will be 2016. But…now that I know when Rhune will be coming out….I can make some more definitive plans about Riyria Chronicles #3. I’m going to do THAT one through self so it will be my 2015 release.
Congrats on the good news!
congrats! Can’t wait for it to hit digital shelves
Thanks! I”m pretty excited too.
Great news, and good for you – pretty sane. Pretty rare, actually. Will the audio come out concurrent with the print? Will it help if I say pretty please? MJ
Hey Mary Jane…Yes I’m sure they will come out simultaneously. I sold the audio rights to this series last year (part of that contract indicate included having Tim Gerard Reynolds do the narration.