A few more questions about submission

[GennAlbin]

I'm out on my first round of submissions and there's a few things that I want to hear your experience with.  If you went to auction, what was it like?  I hear terms like rules, but there's very little info on what takes place. (I am not going to auction, I'm just curious).  And when you do finally get that deal, when do you get to announce?  I've seen authors have to wait months.

Like I said, I'm just curious.  I really like to know what to expect, and there's not a lot of info on this step of the process.  Thanks.

[bodwen]

Ha, I wish I could help you!   

I'd ask your agent, then let me know what she says.

[dzolidis]

So far, being on submission has been exactly like querying. Obsessive email checking, constantly looking at your cell phone to see if someone might have called, imagining what editors must be thinking as they pore over your book, the continuous pull of high expectations, and the crushing news of rejection. At least now you have someone in your corner going through it with you.

As I understand things, (and my understanding is small, I know) - different editors have different capabilities. In that, some can put in an offer without getting approval from other people, other editors have to have approval of a board. So far, I've gotten one rejection from an editor, and a revise and resubmit after a meeting in which they all discussed the merits of my book.

Auction is simply when several editors are interested at the same time. It goes back and forth, and can take weeks. (Each new offer probably has to be approved by a number of people, so it's not like an actual auction.) I've heard that after an initial offer is made, it can take weeks to sort out and negotiate all the particulars as well.

As far as announcing goes, that might have to do with the terms of the contract. I wouldn't say anything until it's finalized, but then I'd shout it to the high hills and crack a bottle of champagne. (I bought a bottle of champagne yesterday, just to have it handy. Always a good policy in my view.)

GOOD LUCK!

[GennAlbin]

Champagne!  Great idea -- that's something I can actually do while I wait and wait and wait...lol

[Kimmy]

Jen, go to Kristin Nelson's blog pubrants - she gives a lot of straight up info and you can search her posts for just this kind of thing.

[GennAlbin]

Ah, Kimmy!  Great idea!  I didn't think to check there.

[Kimmy]

OMG Jen she is the first agent blog I ever followed. Let me see if I can scare up a good post or two:

[Kimmy]

If the copy and paste works, here are her 9 posts on auctions alone - she really is a wealth of good, honest info:

1) What happens if you can’t sell a book to a publisher?
If we have exhausted all possibilities, I’ll put aside and concentrate on the author’s next work. If the next sells, that always allows us to revisit the prior novel. Sometimes the decision is made to let the past be the past and simply move forward.

2) How do you know if a writer’s idea is a good one?
Not a clue really. All I know is what I like and what really resonates with me. I’ve had the good fortune of having what I like generally match up with what editors like and are willing to buy. Just like every other agent in the world, I’m not 100% right all the time. Sometimes I love a book and can’t sell it.

3) If Hollywood has bought the film rights, does the author get a share in the profit?
The sad news is that in general, the author does not get a share in the profit. Although all film deals will have the standard “5% of 100% of net,” most Hollywood films will never show a profit because of how studios manipulate the accounting. It’s worse than the mafia. So agents often build in a lot of ways for the author to make money on the film deal that aren’t tied to “profit” so loosely defined. The option price, the purchase price, bestseller bonuses, box office bonuses etc. These are payments that are not contingent on the film making money.

However, some authors do get a share in the profit. That is not a percentage based on net but a percentage based on a cashbreak point on gross.

A very different thing. Also, it is possible to put merchandizing in a separate pool with a separate percentage. Good money to potentially be made there as well.

4) Can you publish your book yourself or do you have to have a publisher?
Of course you can publish a book yourself! That’s not the right question though. Anyone can self publish; the question is distribution and how to get folks to read what you self publish.

5) How do you decide if the cover art is good?
I have to say that cover art is not my strength as an agent. I have no background in art and not much of a creative vision. However, I do know what I like and what I don’t like. If I don’t like it and neither does the author, I fight like crazy to get it changed.

6) Do publishers show animation for cover concepts?
No. But wouldn’t that be cool?

7) What happens if more than one publisher wants the book?
Then you have an auction my friend! As an author, it’s always the best place to be. However, I do think that writers have a misconception that all auctions equal big money. That is not necessarily true. You can have modest auctions that are in low five figures.

    
    Buy MP3
    
    Is This Love by Bob Marley

More Bob Marley music on iLike
Posted by Agent Kristin at 8:38 PM 12 comments
Labels: auctions, covers, film, movies, QandA, self publishing, submission
Tuesday, May 04, 2010
In-Depth 30-Page Critique Once A Year
STATUS: I got one major contract off my desk and on to somebody else’s at the publishing house. Always a great feeling.

What’s playing on the XM or iPod right now? SOMETIMES YOU CAN'T MAKE IT ON YOUR OWN by U2

Yesterday I was explaining that agents don’t often have time to give detailed feedback because that would entail a critique of the manuscript and doing so is time-consuming.

Well, I should have clarified. Once a year, I always take the time to do exactly that for one lucky auction winner.

I read the 30 pages twice. First read to familiarize myself with the submission and the second read to actually write in-depth critique feedback in track changes of the Word doc. Just like I do for my clients when I read before submitting their material.

So if you want in on that action, it’s time to head over to Brenda Novak’s yearly auction to raise money for diabetes research. My critique page is here. Since I have a good friend plus a brother–in-law with diabetes, this auction is close to my heart.

Happy bidding!

And don’t forget to check out some other great items like a read/critique from Sara Megibow, lunch with Jamie Ford, and if you are a Nathan Bransford fan, he’s offering a critique with a follow up consultation.
Posted by Agent Kristin at 4:09 PM 9 comments
Labels: agents, auctions, Beginning writer mistakes, charity, opening pages, requesting material
Wednesday, August 26, 2009
What Agents Talk About When We Talk about Auctions
STATUS: Finishing up a client manuscript tonight.

What’s playing on the iPod right now? ME AND BOBBY MCGEE by Janis Joplin

Truly a scintillating topic. Kind of like watching golf. Earlier this week, one of my agent friends was conducting an auction so of course that got the whole discussion going about what we preferred—round robin or best bids auctions?

Funny enough, it’s not an either/or question because what is preferred (or what is conducted) always depends on the situation that is unfolding around any given project.

Now what I can say to you for sure is that most editors hate best bid auctions.

Why? Because there is only one round of bidding. That’s it. And if your bid doesn’t come in the ballpark of what other houses are bidding, then you’re knocked out of the running early. I can see why that would be frustrating for editors if they are really keen on a book.

So why do them? It’s a great way to shorten up an auction when the agent has already done a lot of talking to the various editors interested in the work. In other words, a lot of the pre-auction elements are already clear (like the level of excitement, the anticipated advance, what the agent’s expectation is). Then the best bid auction is to simply see all offers at once and then allow the author to choose the best house (and not necessarily a winner based on something like advance alone). Saves a lot of time and energy. Best bids can also work effectively if there is uncertainty on how many houses might participate in the auction. Everyone who attends is supposedly putting best offer forward. Can save a lot of headache if a publisher doesn’t show up to the auction.

Most auctions are probably round robins. This is an auction with subsequent rounds of bidding by multiple publishers until either a clear winner is declared or all houses hit their bid ceiling and only one publisher is still willing to go forward. Round robins work most effectively when there are numerous houses bidding. Not as great a structure if the auction is small—like with only 2 houses bidding. Still, it can be done.

Not to mention round robin auctions can last for days (which is exhausting for everyone involved as nothing else can really be accomplished if an auction is going on). Also, if an author has a clear choice for the editor he/she wants to work with, round robin might knock out the favored house too early in the process. That wouldn’t be good.

Interestingly enough, I have done round robin auctions that then evolved into a final round best bid. Basically when the auction had gone on and on, I let all the editors know that I’m only going to entertain one more round of bids so make it your best and final offer. I think my Grandmother would call that **** or get off the pot bid.

For the most part, I like to negotiate elements of an offer even within an auction and that’s hard to do in a best bid situation so I don’t tend to favor that auction approach. I think a better idea is what I call a two-round best bids. Each house involved in the auction knows it will get 2 rounds of bidding. The first round is for everyone to feel out the field (and it also allows me to say where I think their offer might be lacking). The second round is for everyone to truly get serious about the next offer as this will be the final round of the auction. It feels more effective to me.

And here I’m just touching on the tip of the iceberg but all these different strategies is what we agents talk about when we talk auctions.

Are you still awake? Didn’t think so but if you want to see a group of agents get lively, this is a good topic.

Posted by Agent Kristin at 8:46 PM 29 comments
Labels: auctions
Thursday, April 30, 2009
Brenda Novak Auction to Start and Final London Wrap Up
STATUS: Getting ready to head out the office door. I do plan to do reading tonight from home.

What’s playing on the iPod right now? LUSH LIFE by Natalie Cole

It’s that time of year again! Time for the Annual Online Auction to Benefit Diabetes Research by the indomitable force of nature and wonderful author, Brenda Novak.

And I’m here to highlight that Nelson Literary Agency really stepped up to the plate this year and is offering a WHOLE page of items to be auctioned off.

Just to whet your appetite, I’m giving away breakfast with me at RWA and a writing critique with a 24-hour turnaround time. I will spend several hours on this critique—editing it just like I would a client’s manuscript.

Sara is offering a query-free submission.

NYT Bestselling author Jamie Ford is answering 10 Questions.

Sherry Thomas, query writer extraordinaire, is offering to help you whip your query into shape.

Mari Mancusi and Courtney Milan are offering opening chapters critiques.

Hank Ryan has her own page of good stuff!

And that’s just a brief glimpse of what is available. You might want to check it out.

But back to my London list as promised. I’m skimming through my notes and typing up what I see.

Germany
Looking for upmarket commercial fiction—not too literary
Crime fiction
Exotic and/or generational saga
Boy meets Girl with a literary voice
Commercial historical fiction

Finland Children’s
Literary fic as the market is strong
Fantasy
Science fiction is working

France
Fantasy
Chick lit
Historical romance
Historical fiction


UK
Romantic comedy with lit voice
Jackie Collins type novel
Literary vampires—like the Abraham Lincoln Vampire hunter or literary zombies
Books good for reading groups
Commercial women’s fiction
Mystery that is slightly cozy but has a dark edge
Urban fantasy
Paranormal romance
Horror (must be sophisticated)
Big historical fiction
Literary thriller

That’s all else she wrote.
Posted by Agent Kristin at 6:28 PM 14 comments
Labels: auctions, book fairs, charity, editors, foreign rights, UK
Monday, September 15, 2008
If You’ve Ever Wondered About “The Call”
STATUS: Manic Monday. I should be playing the Bangles.

What’s playing on the iPod right now? RESPECT by Aretha Franklin

Ever wondered about “the Call” or how it all works? My author Kristina Riggle shares the moment she heard her book was going to sell and she has given me permission to share the story.

I’d dreamed of The Call, as I suppose all aspiring writers do. I programmed into my mobile phone the office and cell phone numbers of my agent (the very talented Kristin Nelson), and gave those numbers their very own ringtone. I was sure that’s how the call would come. I’d be out and about somewhere, and I’d hear that special ring, and I’d know right then my dream had come true.

As with every step on my publishing path, reality had little to do with my fantasy. In this case, however, it was even better.

“The Call” turned out to be a series of calls and e-mails. First, there was the innocuous subject line in my e-mail from Kristin inquiring about my next project. No big deal, right? Then I opened the e-mail. She was asking so she could prepare for a potential two-book deal, because the book was already being passed around for “second reads” at one publishing house. This was six days after the book went on submission.

The next “Call” was Kristin telling me…

Have I got you hooked? Then click on the link for The Debutante Ball blog to hear the rest of the story.

Enjoy!
Posted by Agent Kristin at 6:24 PM 14 comments
Labels: auctions, client books, submission

[Kimmy]

and the rest ( it exceeded characters!)
Tuesday, April 29, 2008
Brenda Novak’s Diabetes Auction on May 1!
STATUS: Today I analyzed specifically how I spend my time (mainly because I believe I’m not quite getting enough done during the day). I realized that this morning alone, I spent over 2 hours simply answering emails, handling questions, issues, etc. It might have been closer to three. I wonder if I should start in on my first task in the early morning and then wait until noon to start in on the emails. It will still take me 2 hours but maybe I’ll feel like I accomplished more if I reverse the order.

What’s playing on the iPod right now? BELIEVE by Cher

Today I promised to tackle character elements but I’m actually going to grapple with that tomorrow. I also have a task for you readers. In the next day or so, I want you to read some of your favorite back-cover copy from already published books in a variety of genres. Recently published preferred. I think it would be fun to analyze them together. So, if the copy is available online (such as at Amazon or B&N.com), provide the link and I’ll go give them a look and choose some examples for possible discussion on the blog.

Here’s why I’ve pre-empted today’s entry. You readers need to get ready. Why? Because Brenda Novak is just about to open her yearly auction for Diabetes research. There are some amazing items to bid on—including a “respond in 24 hours” read and critique of sample pages by yours truly.

Ack. It’s probably going to kill me to meet that deadline but I am determined because it’s all about raising lots of dollars for this charity event.

Bids begin May 1, 2008 (only a day and a half away) so bookmark the page and mark you calendars.

Just to give you a sampling of some of the great items that are available.

A weekend getaway with Susan Wiggs

An Amazon Kindle (squeak!) plus $100.00 gift certificate

If you are interested in agent evaluation stuff, here are just a few agents who have contributed read & critiques that you could bid on.

Lois Winston
Donald Maass
Robin Rue
Meredith Bernstein
Susannah Taylor
Elaine Spencer
Annelise Robey
Elaine English
Ethan Ellenberg
Steven Axelrod
Eileen Cope
Paige Wheeler
Rachel Vater

And the list goes on…

There is even a breakfast with Deidre Knight. I haven’t even mentioned the editor evaluations that are available.

I, myself, might go after the “Day of Bridge with a World Class Player.” I’m a bridge fanatic but alas, not a master level player. Not even close actually. I might be too scared to actually play with this person in a tournament but I wouldn’t mind spending a couple hours in a tutorial!

So get ready…
Posted by Agent Kristin at 4:39 PM 13 comments
Labels: auctions, news
Wednesday, April 16, 2008
The Email That Started It All
STATUS: Blogging late. No particular reason other than it has been a rather busy day.

What’s playing on the iPod right now? THICK A** STOUT by Skankin’ Pickle

It never gets old. When Wednesday comes and the NYT bestseller list for the next week is released and Ally Carter is still on it, holy cow. You’d think the thrill would die down but it really doesn’t.


And this is what gets me. Three years ago, I didn’t even represent young adult or anything in the children’s world. In a sense, Ally has my author Jennifer O’Connell to thank for starting me down the children’s world road (which I absolutely love, is totally a natural fit, and I can't imagine why I didn't rep it to begin with).

Jennifer was the person who started it all when she wanted to write for the YA market and asked me if I could sell it. Of course I said sure (even though I didn't know any children's editors at the time), and got on the phone immediately with a good agent friend who only reps children’s books to get the scoop. Then I went to New York to meet the people I needed to for Jennifer’s submission. And that’s how my repping YA began.

Her first young adult, PLAN B, sold at auction in less than a week. Thrilled, all I could think of was that I love YA and where could I get more to sell.

That inspired an email to all my current clients asking if any of them had ever thought of writing for the young adult market.

Ally immediately emailed me back with a list of ideas—which I promptly shot down (Ally tells a more colorful story on her website if you want to check it out). But it inspired her to come up with 3 more ideas and I’D TELL YOU I LOVE YOU BUT THEN I’D HAVE TO KILLYOU was the second on the list. It hit me immediately that that was the novel she had to write so I called her to tell her so.

She did. And here we are on the NYT bestseller list for 14 weeks running.

So thank you Jennifer! I think it’s her turn to hit the list so mark your calendars for June as LOCAL GIRLS and RICH BOYS hit the shelves and these two books seriously rock. It’s her best stuff yet (and I want that girl's abs...).
Posted by Agent Kristin at 9:13 PM 5 comments
Labels: auctions, client books, genres, news, young adult
Monday, February 11, 2008
Prelude to An Auction
STATUS: It is really freakin’ cold here in New York City. They think we have winter in Denver. Oh please. It’s six degrees. Wet. And the wind is blowing like 30 knots or something crazy like that. It’s never that cold in Denver or if it is, the sun is shining and everyone is happy. Although we went on a walk today, Chutney was unwilling to pose.

What’s playing on the iPod right now? DANCING WITH MYSELF by Billy Idol
(uh, I actually don’t own this song but the radio is playing at the moment…)

I know that blog readers love to hear the inside skinny on agent stuff. So how does an agent know that an auction might potentially unfold?

Easy. When a manuscript is sent out, some editors will take a look right away (especially those editors who know me and have had the experience of submissions from me moving fast). They tend to get on it quickly.

And if they like what they see, they email or call almost immediately to say that they love what they are reading and that they are either going to finish soon (like over the weekend) and get second reads or they are already doing so. They want me to keep them abreast of any new information regarding the project (as in other interest, an impending offer, etc.)

When this kind of communication happens from more than one house (and it has to be different houses because in-house imprints can’t bid against each other), then the agent knows it’s shaking. The project has it going on and an auction might unfold.

Now, that doesn’t always happen. Sometimes multiple editors from different houses show interest and those editors aren’t able to get the support to buy (support being other readers who love it as much as they do or an editorial director or publisher on board). And yes, I have had that happen.

But when there is a lot of interest early on, it usually means multiple offers and the agent has time to get her deal game plan in place.
Posted by Agent Kristin at 6:04 PM 19 comments
Labels: auctions
Wednesday, December 05, 2007
MISTS Auction: The Lowdown
STATUS: I’m feeling good because I’m actually tackling the big items on my TO DO list.

What’s playing on the iPod right now? THE CHRISTMAS SONG by The Carpenters

I can finally talk about my big day from last week or should I say my big days since the auction lasted for two days.

Here’s the announcement from Deal Lunch:
FICTION: MIDDLE GRADE
Helen Stringer’s debut HOUSE OF MISTS, about a girl who lives with the ghosts of her parents in the north of England and when they disappear, along with all the ghosts in the world, it’s up to her, an always-in-trouble classmate named Steve, and the one remaining ghost (from 1912) to find out why, to Jean Feiwel at Feiwel & Friends, in a significant deal for two books, at auction, by Kristin Nelson of Nelson Literary Agency (NA).

This is the very first middle-grade project I’ve ever taken on so I was rather heartened that it caused quite a stir and lots of interest. As an agent I probably shouldn’t admit this but because it was my first middle-grade ever, I was kind of nervous when I submitted it. I obviously feel quite confident about my YA abilities but middle-grade is a whole other ball of wax so to speak. Now I can rest easy. At least in this case, I got what it takes!

So here’s how the auction went down.

1. Project was sent out on Wednesday. The first offer came a week and a day later.

2. All editors were notified of the offer on the table.

3. Several editors expressed serious interest, which signals that an auction might be imminent.

4. Another house makes an offer (but not a pre-empt), so now there are two offers on the table. Auction date is scheduled and that information is sent to all editors interested in participating.

5. A house with an offer already on the table attempts to pre-empt with a new offer. The Interest at this point is too high, the pre-empt is declined.

6. Agent sets auction rules and asks all interested parties to declare if they plan to attend or not. The rules are emailed to all auction participants.

7. Auction day comes and it’s a round robin one (which means participants can bid in subsequent rounds). Four participants are bidding. Auction continues until there is a winner but in this case, it came down two main bidders. As the auction continued on Friday, the publishers were asked if they wanted the option to put their best offer forward instead of doing subsequent round robin bidding that might last several more hours. Participants preferred that. Final offers were presented to the author and ultimately a final choice was made.

There can only be one publisher after all. Although I have to say, when all parties are excellent, it’s tough to call the “losing” publisher and potentially break that editor’s heart when he/she obviously has tons of enthusiasm for the project.

[JRo]

As far as announcing the deal, you usually have to wait until it's officially announced. This may not be the case for every single book deal, but the vast majority of authors do not announce until it's been announced in Publisher's Marketplace Deal section. This may just be a coincidence that they announce right after their Publisher Marketplace does their daily deal rundown.

I, myself, am still waiting to announce a deal. It's a slow process. Even if you get that pub contract a week later, I'd expect some time before you can share it with the world. Waiting sucks but it's the name of the game in publishing.


 

[MaryL]

I agree with JRo.  Usually deals are kept quiet until all the details are agreed upon by both parties. This sometimes deals with re-titling the project.

In my case, I agreed to the new title proposed before agreeing to the sale, so it didn't hold us up. My agent put the blurb up, with the wording approved by Penguin, and the news was okay to blabber within 24 hours of the agreement. The contract was finalized many months later. Some agents wait for the contract. I know of lots of authors who have to sit on deals for weeks.

Picture book authors almost always have to wait a long time because an illustrator has to be assigned, negotiated and approved before the announcement can be made.

[Kimmy]

Just hearing about all this waiting is giving me a headache!

[stephcamp]

I think it was (the uber fab) Tahereh Mafi who couldn't announce her major book deal for over 2 months? I can't imagine how frustrating that is!

[KalenO]

I think it was (the uber fab) Tahereh Mafi who couldn't announce her major book deal for over 2 months? I can't imagine how frustrating that is!

True, but she got a release date of less than a year from when she got her deal, so I imagine that helped mitigate the frustration somewhat.  ;)

[stephcamp]

Agreed, Kalen!! Good point!!