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Peter James: 'I made £25k on bitcoin reesearching a Grace book'
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The good life: Author Peter James
Award-winning crime writer Peter James has sold 21 million books. The 75-year-old author grew up in Brighton with his sister Genevieve and parents Cornelia and Jack - former glovemakers to Elizabeth II.
His books are set in the resort and have been turned into the hit ITV drama series, Grace, starring John Simm.
James tells York Membery how the series - for which he gets seven per cent of the overall profits - has boosted international sales of his books.
He lives in Jersey with second wife Lara, 44, and their two dogs, Wally, a goldendoodle, and Spooky, a labradoodle.
What did your parents teach you about money?
My dad always told me to buy 'quality' because he warned: If you buy cheap, you buy twice. Unfortunately, I initially didn't follow his advice and while at boarding school, aged 18, I bought a clapped-out Triumph 250cc motorbike for £25.
A tyre blew out late one night and I lay on the centre white line of the Hog's Back road on the North Downs as lorries roared by either side of me. I bought cheap and it nearly killed me - since then I've always bought the best I could afford.
Did you ever consider following your parents into glovemaking?
My mother Cornelia, a refugee from Nazi Europe, and my father Jack founded the glovemakers Cornelia James, which counted the late Queen among its clients, and still holds a Royal Warrant.
I did join the firm in my 20s, but my heart just wasn't in it, and when a sales rep said to me: 'Only 12 years to go until I retire!' I thought: 'What am I doing here?' So I left to try my luck writing full time and my sister Genevieve now runs it successfully... fortunately without me.
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HOW THIS IS MONEY CAN HELP
What you need to know about money every week: This is Money podcast
Have you ever struggled to make ends meet?
As a student I had to survive on £8 a week, just enough to cover the rent on the converted garage I was sharing in Chelsea, pay the rail fare and feed myself. I needed to earn extra to take a girl I fancied out to dinner, and got a job as a cleaner on ten shillings an hour. But after four weeks my employer told me, politely, that 'I wasn't cut out for the job' so I was let go. Things didn't work out with the girl either!
Did you make money from your first book deal?
No, I signed a two-book deal - £2,000 for my debut and £3,000 for the follow-up for a couple of spy novels in the early 1980s. But that first book, Dead Letter Drop (1981) sold just 1,800 copies in hardback, and the sequel didn't do much better. Then my fortunes changed overnight with the publication of my first Roy Grace crime thriller.
Dead Simple was published in 2005 and the third in the series became my first No 1. I now write a book a year - I'm currently writing the 20th Grace novel - and 18 months ago negotiated a new, five-book deal.
Ever been sent anything valuable by a fan?
No, but I was once sent a fan letter written on a piece of wood from a coffin - after Dead Simple came out.
Has the TV adaptation of Grace proved a money-spinner?
The TV series - with the brilliant John Simm in the title role of DS Grace - has been sold to more than 20 countries and is returning for a fourth series in 2024. I get 10 per cent of the production fee and 7 per cent of the overall profits. It's also given my books, which have been translated into 38 languages, a big international sales boost. Lara and I had cameo roles as coppers.
By the book: John Simm as Brighton-based DS Grace
What is your biggest money mistake?
Buying an old Jaguar E-type for £10,000 in 1988 as a 40th birthday present for myself. It was a wreck and I spent another £60,000 restoring it. But I had to sell it when my first wife and I got divorced. Unfortunately the classic car market had temporarily collapsed so I sold it for a measly £20,000. That hurt.
Your best ever money decision?
Firstly, setting up the third internet service provider in the UK, Pavilion Internet, when there were just 50,000 people online; my two business partners and I sold it in 1998 for a seven-figure sum. Secondly, investing in Animas, which developed a wearable patch enabling diabetics like myself to get an instant insulin read-out on their mobile. That netted me a 20 times return on my six-figure investment.
Do you save into a pension?
No, I've seen so many swings and roundabouts in pensions. My properties, my classic cars - I've got a 1962 American Racing Chevrolet Corvette, a 1964 Mini Cooper S and a 1987 Mercedes 500 SL among others - and my modern art collection are my pension.
Do you invest in the stock market?
No, but I bought £15,000 of bitcoin investment facts [https://bitdouble.net/] as part of my research for a Grace novel. It jumped to £70,000 then dropped. I sold for £40,000, not a bad return.
Do you own your own home?
We have a 17th Century detached house in Jersey with a 75ft tower where I write. The view from the top is fantastic, and I can see the coast of Saint Malo in France. My wife Lara and I are passionate about animals and we have more than one hundred in the grounds.
Do you donate money to charity?
Lara and I have our own charity, The Really Scary Books Charitable Foundation, and donate to mainly small charities such as Martlets Hospice, in Brighton, which cared for my mother. Another one I'm passionate about is the Sussex Police Charitable Trust. I'm also a patron of the RSPCA.
Stop Them Dead (Roy Grace 19) is published by PanMacmillan and is out in hardback.
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Award-winning crime writer Peter James has sold 21 million books. The 75-year-old author grew up in Brighton with his sister Genevieve and parents Cornelia and Jack - former glovemakers to Elizabeth II.
His books are set in the resort and have been turned into the hit ITV drama series, Grace, starring John Simm.
James tells York Membery how the series - for which he gets seven per cent of the overall profits - has boosted international sales of his books.
He lives in Jersey with second wife Lara, 44, and their two dogs, Wally, a goldendoodle, and Spooky, a labradoodle.
What did your parents teach you about money?
My dad always told me to buy 'quality' because he warned: If you buy cheap, you buy twice. Unfortunately, I initially didn't follow his advice and while at boarding school, aged 18, I bought a clapped-out Triumph 250cc motorbike for £25.
A tyre blew out late one night and I lay on the centre white line of the Hog's Back road on the North Downs as lorries roared by either side of me. I bought cheap and it nearly killed me - since then I've always bought the best I could afford.
Did you ever consider following your parents into glovemaking?
My mother Cornelia, a refugee from Nazi Europe, and my father Jack founded the glovemakers Cornelia James, which counted the late Queen among its clients, and still holds a Royal Warrant.
I did join the firm in my 20s, but my heart just wasn't in it, and when a sales rep said to me: 'Only 12 years to go until I retire!' I thought: 'What am I doing here?' So I left to try my luck writing full time and my sister Genevieve now runs it successfully... fortunately without me.
RELATED ARTICLES
Previous
1
Next
Fashion designer Karen Millen talks to ME & MY MONEY 'The Beatles played music in my house': Johnny Ball on... 'I'm lucky - I can create a £1m book with a £3.50 pad of... The Snowman music writer HOWARD BLAKE says: I've made three...
Share this article
Share
25 shares
HOW THIS IS MONEY CAN HELP
What you need to know about money every week: This is Money podcast
Have you ever struggled to make ends meet?
As a student I had to survive on £8 a week, just enough to cover the rent on the converted garage I was sharing in Chelsea, pay the rail fare and feed myself. I needed to earn extra to take a girl I fancied out to dinner, and got a job as a cleaner on ten shillings an hour. But after four weeks my employer told me, politely, that 'I wasn't cut out for the job' so I was let go. Things didn't work out with the girl either!
Did you make money from your first book deal?
No, I signed a two-book deal - £2,000 for my debut and £3,000 for the follow-up for a couple of spy novels in the early 1980s. But that first book, Dead Letter Drop (1981) sold just 1,800 copies in hardback, and the sequel didn't do much better. Then my fortunes changed overnight with the publication of my first Roy Grace crime thriller.
Dead Simple was published in 2005 and the third in the series became my first No 1. I now write a book a year - I'm currently writing the 20th Grace novel - and 18 months ago negotiated a new, five-book deal.
Ever been sent anything valuable by a fan?
No, but I was once sent a fan letter written on a piece of wood from a coffin - after Dead Simple came out.
Has the TV adaptation of Grace proved a money-spinner?
The TV series - with the brilliant John Simm in the title role of DS Grace - has been sold to more than 20 countries and is returning for a fourth series in 2024. I get 10 per cent of the production fee and 7 per cent of the overall profits. It's also given my books, which have been translated into 38 languages, a big international sales boost. Lara and I had cameo roles as coppers.
By the book: John Simm as Brighton-based DS Grace
What is your biggest money mistake?
Buying an old Jaguar E-type for £10,000 in 1988 as a 40th birthday present for myself. It was a wreck and I spent another £60,000 restoring it. But I had to sell it when my first wife and I got divorced. Unfortunately the classic car market had temporarily collapsed so I sold it for a measly £20,000. That hurt.
Your best ever money decision?
Firstly, setting up the third internet service provider in the UK, Pavilion Internet, when there were just 50,000 people online; my two business partners and I sold it in 1998 for a seven-figure sum. Secondly, investing in Animas, which developed a wearable patch enabling diabetics like myself to get an instant insulin read-out on their mobile. That netted me a 20 times return on my six-figure investment.
Do you save into a pension?
No, I've seen so many swings and roundabouts in pensions. My properties, my classic cars - I've got a 1962 American Racing Chevrolet Corvette, a 1964 Mini Cooper S and a 1987 Mercedes 500 SL among others - and my modern art collection are my pension.
Do you invest in the stock market?
No, but I bought £15,000 of bitcoin investment facts [https://bitdouble.net/] as part of my research for a Grace novel. It jumped to £70,000 then dropped. I sold for £40,000, not a bad return.
Do you own your own home?
We have a 17th Century detached house in Jersey with a 75ft tower where I write. The view from the top is fantastic, and I can see the coast of Saint Malo in France. My wife Lara and I are passionate about animals and we have more than one hundred in the grounds.
Do you donate money to charity?
Lara and I have our own charity, The Really Scary Books Charitable Foundation, and donate to mainly small charities such as Martlets Hospice, in Brighton, which cared for my mother. Another one I'm passionate about is the Sussex Police Charitable Trust. I'm also a patron of the RSPCA.
Stop Them Dead (Roy Grace 19) is published by PanMacmillan and is out in hardback.
THIS IS MONEY PODCAST
Have interest rates finally peaked - and what happens next?
How much will frozen income tax bands suck out of your pay?
How much further could house prices fall?
Will your energy bills rise this winter despite a falling price cap?
Have interest rates peaked or will they rise again?
Should we keep the triple lock or come up with a better plan?
Should we gift every newborn £1,000 to invest?
Are you on track for a comfortable retirement?
Where would YOU put your money for the next five years?
Mortgage mayhem has stalled but what happens next?
Taxman customer service troubles and probate problems
Energy firms rapped for bad service while making mega profits
Inflation eases - what does that mean for mortgage and savers?
Could your bank close YOUR current account with little warning?
Energy price cap falling and savings rates race past 6%
Was hiking rates again the right move or is the Bank in panic mode?
Mortgage mayhem, savings frenzy: What on earth is going on?
Money for nothing: Is universal basic income a good idea?
Inflation-busting savings rates of 9% and cash Isas are back
When will energy bills fall, and could fixed tariffs finally return?
Should we stop dragging more into tax designed for the rich?
How high will interest rates go... and why are they still rising?
How can we build the homes we need - and make them better?
Home improvements: How to add - or lose - value
It's easier to win big on Premium Bonds but should you invest?
How long should you fix your mortgage for - and what next?
State pension goes above £10,000 - has something got to give?
April bill hikes - and is it time we ditched the tax traps?
Pensions, childcare, bills and recession: Budget special
Can you trust the state pension system after these blunders?
Are we on the verge of a house price crash or soft landing?
How to make the most of saving and investing in an Isa
Why is food inflation so high and are we being ripped off?
Could this be the peak for interest rates? What it means for you
Will we raise state pension age to 68 sooner than planned?
Could an Isa tax raid really cap savings at £100,000?
Will you be able to afford the retirement you want?
Will 2023 be a better year for our finances... or worse?
The big financial events of 2022 and what happens next?
Would you be tempted to 'unretire' after quitting work early?
When will interest rates stop rising and how will it affect you?
Could house prices really fall 20% and how bad would that be?
Do you need to worry about tax on savings and investments?
Have savings and mortgage rates already peaked?
What does Hunt's tax raid mini-Budget mean for you?
The everything tax raid! Will all these threats backfire?
Have we come down too hard on buy-to-let and hurt renters?
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