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 (1) It is called in the trade, as Andrew Marr revealed on these pages last week, “spoilt”.
 Once autographed by its author, a copy of a new book cannot be remaindered; it might
 sit for months on the shelves untouched by paying customers, but it still counts as sold.
 
 (2) This is useful information for budding writers, which I was first tipped off about by the
5  gangster Frankie Fraser. Frankie was at the launch party of a book I’d written (I’m not
 sure why he was there, but nobody on the door was going to stop this gatecrasher). He
 took me by the elbow and whispered conspiratorially: “Let me give you a word of advice,
 son, author to author: whenever you pass a bookshop, go in and sign copies of your
 book. That way, even if you never sell a bean, the bastards have still got to pay you.”
 
10  (3) I thought of this when I heard a caller to BBC Radio 5 last week ringing in to say that
 he had just gone out and bought 15 signed copies of a new hardback the day it arrived
 in his bookshop. Not to read them; no, these were to remain pristine in his attic. They
 were, he said, investments.
 
 (4) The book that the caller reckoned was worth this extravagant punt is called Wolf
15  Brother by Michelle Paver. This is not an author who is likely to trouble judges of the
 Booker Prize. Nor will her work feature in the literary pages of the Sunday newspapers.
 The only context in which most of us will have heard of her before is when her name is
 appended to the words “record advance”.
 
 (5) An unprecedented £2.8 million she received from Orion to snaffle up the rights to a
20  five-book series called Chronicles of Ancient Darkness, a sum so vast it is usually
 associated in publishing terms only with the ghosted life stories of Premiership
 footballers. Wolf Brother is the first instalment in pay-back time.
 
 (6) You will find Wolf Brother in the children’s section, but its intended audience is much
 wider. As its rather sophisticated dust jacket suggests, this is the sort of book that could
25  discreetly be read on the train by adults on their way to work. On the inside cover is a
 hand-drawn map of the journey undertaken by Torak, the youthful hero, a boy growing
 up in the world of prehistory, as he makes his way across the Deep Forest and the Ice
 River past the Mountain of the World Spirit.
 
 (7) But the territory that the book is aiming to traverse is more familiar: turn left at
30  Tolkien Peaks, walk for several days across the Pullman Plains, cross the Rowling
 Foothills and there you will find the Money Well, with its inexhaustible torrents of cash.
 
 (8) Not much seems to enrage the traditionalist critic more than the concept of the
 “kidult” book. Why should adults be reading the wearisome adventures of Rowling’s
 Harry Potter, the pompous sword and sorcery of Tolkien’s Lord of the Rings or the
35  GCSE philosophising of Philip Pullman, when they could be engaging with Dickens,
 Trollope or Austen? Or even Martin Amis and Ian McEwan, modern fiction-spinners who
 at least deal with the world of grown-ups? Though in Amis’s case perhaps grown-up is
 pushing it.
 Publishers, on the other hand, love the concept of the kidult book. This is sales terrain
40  without discernible boundaries, where young and old club together, encourage each
 other, producing a market in which there is no age limit. And personally I have nothing
 against J K Rowling. For me, anyone who makes reading a competitive sport among 10-
 year-olds deserves canonisation. No matter how derivative and turgid their prose.
 
 (9) The triumph of Philip Pullman and J K Rowling, though, is that they found their own
45  market against all precedent. In order to play catch-up, to seize some of the ground
 opened up by those pioneers, publishers are obliged to join the race at a much pricier
 entry point.
 
 (10) The cost began, in the case of Michelle Paver, with the advance. That in itself
 became a story. Then with the money came the mystique: we were told that, like J K,
50  she had her tales mapped out in her head years ago; she had known for two decades
 what would appear on her final page. The hype was all in place before a book hit the
 stores, so much so that optimists were punting on first editions becoming collectors’
 items.
 
 (11) But the real gamblers here are the publishers, who are playing with stakes entirely
55  provided by other authors. If this book fails, there will be no money for future projects. If
 it succeeds - and it is, to be fair, a rollicking, easy read - it will only reinforce the growing
 habit of putting resources solely behind those whose work fits into pre-conceived
 marketing boxes.
 
 (12) It is too early to tell which direction Wolf Brother will go. But when I went into my
60  bookshop to pick up a copy, the pile of unsold items was sky high.
 
 (13) What’s more, every single one of them was signed by the author.