Archive for July, 2002

Books worth big bucks

Evening Standard
Book advances have skyrocketed in recent years. Barely a week passes without some publisher gambling huge sums on an unknown they hope will be the next JK Rowling, Zadie Smith or Dave Pelzer. Debut children’s novelist Lady Georgia Byng received £1 million for Molly Moon’s Incredible Book of Hypnotism, while Charles Frazier, whose first novel, Cold Mountain, topped the charts worldwide, barely needed to touch his keyboard before publishers paid £5 million for a second novel on the basis of a one-page synopsis.