THE CAREER NOVELIST
Pictures, a Disney division, for $3 million. Would the book advance
have soared so high if it were not certain that Disney would be help-
ing the book's sales by pumping money into promotion of their
film? You tell me.
The mechanics of auctions are actually fairly simple. Generally, a
floor bid is first set. This is a minimum advance that one publisher
guarantees to pay. In exchange for getting the ball rolling, that pub-
lisher usually obtains a topping privilege, that is, the option to better the
highest bid by 10 percent (or perhaps by 5 percent at high levels).
Finally, a closing date is set and on that day publishers are called
according to preset rules. Bidding proceeds in rounds. The winner is
the highest bidder. That is terrific—if money is all you want. But
what if it is not?
Suppose you want the option to choose your publisher? If so,
you will need to select another marketing route over the auction. A
multiple submission is the next strategy down the scale. While not
as hot as an auction, a multiple submission can still put some heat
under a novel. It is competitive, but less so.
In a multiple submission the manuscript is sent to several pub-
lishers at once. There is no floor bid. In some cases there is no clos-
ing date. There is pressure upon the publisher since competitors are
involved, but generally the pressure is less.
The lower temperature of this situation is intentional. Publishers
are less likely to be scared off. The effort involved in putting togeth-
er an auction position is reduced. The personal stakes are lower.
Whereas an auction forces publishers into (or out of) the game, a
multiple submission coaxes them in.
Unfortunately, the multiple's less formal structure can also make
it harder to manage. With fewer rules, publishers are freer to try
strategies such as the preemptive bid, a high offer that, if accepted,
means the agent and author involved will not entertain other offers.
The preemptive bid can be an exciting result, but it can also leave
the seller with enemies.
Most of the time I employ the multiple submission for properties
for which I want some combination of fast action and choice. Since
marketing can be painfully slow, it might seem that multiple sub-
missions are a panacea, the best of all worlds.