AE Monthly

Articles - September - 2008 Issue

Phillip Gennuso Purchases Zobel Inventory

Z3

The Zobel Book Service Inventory Sold Again


By Bruce McKinney

The remaining general stock of Zobel Book Service was recently sold to the Phillip Gennuso Book Company of Cornwall, New York. The company is located at 246 Main Street. The number of books included in the sale has been estimated at between 40,000 and 90,000 volumes. The material has, for decades, been stored in the Zobel's bookbarn, double-shelved on planks extending ten feet into the air. Because of the large quantity of shelves no one is quite sure of the exact number of books. Mr. Gennuso estimates it as north of 50,000. The price was $3,250 and the material advertised on Craig's List. Within an hour of its posting Mr. Gennuso's inquiry was received, within a day the sale completed. Several other inquiries were turned away.

For Miriam Zobel who recently turned 79 the essential requirements were that the books both "move out" and "live on." "This is the remaining inventory of my husband's business. He loved books and I have needed to place them in the hands of a bookseller who will value them." Mr. Gennuso is a computer programmer with a passion for books. His plans for the purchase have not yet been worked out.

This inventory was offered at public auction in October, 2007 and sold to a California entrepreneur who later walked away when confronted with the daunting task of packing and moving the material. For Mr. Gennuso, the issue is more about storage and cataloguing. The distance between Clintondale and Cornwall is only 21.9 miles.

Mrs. Zobel has agreed to rent her barn to Mr. Gennuso for sufficient time to permit him to organize and move the material. She then plans to sell her home and retire.

The method of advertising was unusual. Craig's List is a central network of online communities featuring free classified advertisements. A one-page explanation of the Zobel inventory with a video link, asking price and contact information was posted on the evening of August 4th. A certified check for the full price was delivered on August 6th after an examination of the material on the 5th.

Craig's List has become a staple for the purchase and sale of used cars and increasingly real estate. It appears to have applicability for books as well. Here is a link to Craig's List for the Bay Area: click here. On the right side of the screen are other places in the United States and abroad that are activity hubs. As well, in a separate article Tom McKinney explains how to set up an ad on Craig's list. It's free and, as Miriam Zobel recently learned, effective.

Posting to Craig's List: click here for instructions on posting to Craig's List.

There is a third article on this sale - The Zobel Inventory Sold on Craig's List - a Perspective. The book business is in flux and some of its problems have been exposed and solutions tested in a small town far from the maddening crowd.

AE Monthly


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