The Philosophers Chair » First http://thephilosopherschair.com ... Our views on philosophy Wed, 08 Feb 2012 09:13:05 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 What is the highest FIRST novel advance you know of? http://thephilosopherschair.com/3093-what-is-the-highest-first-novel-advance-you-know-of http://thephilosopherschair.com/3093-what-is-the-highest-first-novel-advance-you-know-of#comments Tue, 07 Feb 2012 10:13:12 +0000 admin http://thephilosopherschair.com/3093-what-is-the-highest-first-novel-advance-you-know-of Question by I Am Legend: What is the highest FIRST novel advance you know of?
I know Stephen King received $ 400,000 for the paperback rights to his first novel, Carrie, in 1976 and Nicholas Sparks got $ 1,000,000 for his first novel, The Notebook, in 1995. And recently, Elizabth Kostova received a $ 2,000,000 advance for her first novel, The Historian. I was just wondering if anyone else knows of any huge advances for a writer’s first novel? Bigger than the two million The Historian got?

Also, I already know of J.K. Rowling’s $ 200,000 advance for Harry Potter and the Sorcerer/Philosopher’s Stone and though is a big number for children’s books, It’s still a small number compared to those listed above.

(Note: I am only interested in knowing about FIRST novel advances, as I know very well that modern authors such as Stephen King and Tom Clancy receive up to $ 10,000,000 per novel these days).

Best answer:

Answer by Frosty Lemmon
I think Kostova broke the record at the time, and that was a legitmate advance against royalties and not a fee for paperback rights, which is a very different thing (see below). BUT you have to consider whether that $ 2 million was for just the one book or part of a multi-book deal. Another big advance, which I think was for a single novel, was the $ 500,000 Jonathan Foer got for “Everything Is Illuminated.”

Charles Frazier didn’t get much for his first novel, but his second novel, which just came out ths fall, was sold for an $ 8 million dollar advance. Pretty huge, considering that all he offered the bidders was a one-page outline.

Paperback rights are not really the same thing as an advance against royalties. Most importantly, the person bidding for paperback rights isn’t taking much of a risk because the book has already been out in hardback, so they can see if it’s already been a success. Also, the licensing fee for paperback rights is almost always a flat fee, not an advance against royalties. That means the author gets that fee, and nothing additional in the future, whether the book sells one copy or 10,000,000.

An advance, on the other hand, means that if the book really performs well then the author will receive additional money eventually, once they’ve “earned back” the advance. For example, Hillary Clinton reportedly got an $ 8 million advance for her autobiography with a royalty rate of 12%. So that means that the publisher pays her 12% of its revenue on the book (revenue, not profits). They already advanced her $ 8 million of that, so she didn’t get anything until the book had sold enough copies to cover the advance. Then she’d start getting her royalties.

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]]> http://thephilosopherschair.com/3093-what-is-the-highest-first-novel-advance-you-know-of/feed 1 Who was the first Greek philosopher? http://thephilosopherschair.com/3020-who-was-the-first-greek-philosopher http://thephilosopherschair.com/3020-who-was-the-first-greek-philosopher#comments Thu, 22 Dec 2011 11:13:56 +0000 admin http://thephilosopherschair.com/3020-who-was-the-first-greek-philosopher Question by : Who was the first Greek philosopher?
Specifically, the first Greek philosopher that is known of in modern times, and has at least some fragment of his philosophy that survives to this day.

Best answer:

Answer by MTR 2.0
http://en.wikipedia.org/wiki/Pre-Socratic_philosophy

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