Mad Max on the Midlist

A hot literary debut bought from Nicole Aragi for $175,000 ends up with ho-hum sales. A "niche market" nonfiction bought from Emma Parry for $50,000 gets a glowing review from Michiko Kakutani of the NEW YORK TIMES and takes off. This according to our anonymous publishing-insider-in-the-know, "Mad Max Perkins." Does slow and steady win the race? Here's Max's take on big advances (by which, I think, he means six figures and up) and how they relate (or don't!) to sales performance.