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It might work for an Independent author but I can't imagine any Publisher who holds the distribution rights for a book would sit back for one single second and allow an author to collect funds for that book outside of the normal sales process.
And any author who tried it would likely be forced into being an Independent author for any future books - because who'd give them a book contract after a stunt like that? It's about like the employees at the music store selling bootleg copies of the merchandise out of the trunks of their cars in the store parking lot.
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