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2nd hand paperback, mainly because the ebook version will be full of mistakes. Only exception being if the paperback is more expensive or hard to find. Then I'll run it through Stylewriter, so at least some of the mistakes can be fixed before reading.
I do think writers, or more likely the publishers who own them, are missing out on a lot of money by not "competing" with the 2nd hand market. Price them at £3 or less and nobody would bother with 2nd hand paperbacks except the book sniffers.
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