Virtual Consignment Shop

Description:
A better way for Logos subscribers or non-subscribers with books and audio books purchased through Logos to sell all or portions of their library for whatever reason. There is a market for this [See Logos Bible Software Resales > page on Facebook] but the sales model is not optimal for the sellers or buyers. Faithlife is also potentially missing a revenue opportunity.

Benefits:

Buyer Benefits
o A secondary market for digital assets purchased through Logos.
o Like a consignment shop, the Buyer would transact through the Logos Portal. Logos would act as the broker for the transaction of digital assets on behalf of the Seller.
o A fixed rate sale price [example 30% (25% Paid or credited to Seller, 2.5% paid to Logos for Transaction Management & 2.5% paid to Authors/Publishers)]
Buyers could be put on a waitlist until specific Resource IDs become available from Sellers.

Seller Benefits
o A known discounted sale price for each book or library sold.
o Seller would not deal directly with the buyer
o Consignment model would naturally generate more demand for sellers assets through marketing of the consignment model as a tile on the home page.

Faithlife Benefits
o A revenue stream for Faithlife [example 2.5%] for managing each transaction and transfer of books from one user to another.
o This could translate into increased interest in general for Logos, especially for potential subscribers on a tight budget.

Potential Requirements:

• Books could be sold as-is with highlights, underlines etc., included, similar to a used book.
• Inventory could be first come/first serve based on Seller interest and volume
• A waiting list for Buyers could be set up [Similar to xxx using similar code to the Pre-order now functionality].
• Sellers would need the option of taking a credit or getting paid through PayPal, or reimbursed on their credit card, etc. because many sellers are doing so due to economic hardship or other catastrophic life events.
• Sellers could offer their books individually or in the library.
• Buyers purchasing series, commentaries, or libraries could end up with books from more than one buyer.

In Scope:

• Digital Books
• Audio Books

Out of Scope:

• Mobile Ed Course Materials