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The so-called agency model is a "mirage" with Apple dictating to publishers what they can charge for books sold via the iBook Store on Apple's iPad, according to various reports reacting to an email leak from the e-book self-publishing company Smashwords.
According to the email, sent to its authors, Apple has set maximum prices for iBooks based on the price of the print equivalent. For all print books published with a list price of $22 or less, the iBook cannot be greater than $9.99 during the first twelve months after publication. For other prices, a sliding scale comes into operation meaning the price of iBooks can rise to $19.99 for print books priced between $35.01 and $40. For hardcover books priced above $40, publishers can set their own price. If a book is not available in print, any price can be charged.
According to one report, based on this pricing structure, 12 of the 14 New York Times Bestselling Fiction titles currently featured in Amazon’s Kindle store would be priced higher in the iBook Store.
According to Publishers Lunch, there are provisions that move the maximum price down to $12.99 once a hardcover makes the NYT bestseller list, regardless of the print price.
Smashwords leak:
If your price is $22.01-$24.00, the maximum ebook price is $10.99; If your hardcover book is priced above $40.00, you can price your Apple ebook at any price you like.
$24.01-$25.00 is $11.99;
$25.01-$27.50 is $12.99;
$27.51-$30.00 is $14.99;
$30.01-$35.00 is $16.99;
$35.01-$40.00 is $19.99.