A book deal for the memoirs of former US president Barack Obama is expected to set a record, with a price tag as high as $US20 million ($27 million).
The US trade publication The Hollywood Reporter has tipped Obama's recollections of his eight years in office will do brisk business once bidding opens.
More World News Videos
- Video duration
- 03:55
The Obama years
The Obama years
A look back at the key moments from President Barack Obama's two terms in the White House.
Up Next
Trump and Kim impersonators kiss, make up
- Video duration
- 01:28
- Video duration
- 01:28
Trump and Kim impersonators kiss, make up
Trump and Kim impersonators kiss, make up
Donald Trump and Kim Jong-un look-alikes walk around Hong Kong, causing a buzz amongst residents and tourists.
Up Next
Wildfires destory Chilean vineyards
- Video duration
- 01:06
- Video duration
- 01:06
Wildfires destory Chilean vineyards
Wildfires destory Chilean vineyards
Some vineyards will have no vintage this year after wildfires consumed more than 100 vineyards.
Up Next
Trump to investigate voter fraud
- Video duration
- 01:18
- Video duration
- 01:18
Trump to investigate voter fraud
Trump to investigate voter fraud
President Donald Trump, still claiming voter fraud cost him the popular vote despite a lack of evidence, tweeted that he is calling for an investigation into the matter.
Up Next
Trump acts on Mexico border wall
- Video duration
- 01:16
- Video duration
- 01:16
Trump acts on Mexico border wall
Trump acts on Mexico border wall
US President Donald Trump has signed documents to build a wall along the US border with Mexico, boost the numbers of agents policing illegal immigration, and put an end to sanctuary cities.
Up Next
Trump could reopen CIA 'black site' prisons
- Video duration
- 01:46
- Video duration
- 01:46
Trump could reopen CIA 'black site' ...
Trump could reopen CIA 'black site' prisons
US President Donald Trump is expected to sign an executive order opening a review of US intelligence needs and possibly reopening secret CIA prisons overseas used to detain terror suspects.
Up Next
Monster sinkhole nearly swallows pickup
- Video duration
- 02:05
- Video duration
- 02:05
Monster sinkhole nearly swallows pickup
Monster sinkhole nearly swallows pickup
A massive sinkhole has opened up in front of a house near Philadelphia, swallowing the driveway and sidewalk.
Up Next
Dow takes first-ever leap above 20,000
- Video duration
- 01:06
- Video duration
- 01:06
Dow takes first-ever leap above 20,000
Dow takes first-ever leap above 20,000
The Dow surged above the 20,000 mark for the first time in history as a solid earnings season and optimism over possible Trump policies fueled investor optimism.
The Obama years
A look back at the key moments from President Barack Obama's two terms in the White House.
The most previously paid for a presidential memoir is the $US15 million paid to Bill Clinton for his 2002 memoir My Life. (It sold 2.2 million copies.)
Clinton's windfall was also, at the time, the largest book advance in publishing history.
Related Content
In a distant second place is the $US7 million paid to George W Bush for his 2010 memoir, Decision Points. (It sold 2.6 million copies.)
The Hollywood Reporter also speculated that a memoir from former first lady Michelle Obama could rival that of her husband in commercial terms.
She was an immensely popular first lady and, in the last days of the Hillary Clinton election campaign, became the subject of discussion as a future presidential candidate in her own right.
Former first lady Mrs Clinton has published two memoirs.
The first, Living History, which followed her term as first lady, Clinton was paid a $US8 million advance.
The second, Hard Choices, followed her term as US secretary of state; that book earned her a reported $US14 million advance.
There is no question an Obama memoir is coming: most US presidents in history, and every president since Herbert Hoover, has published a memoir of their time in office.
The 55-year-old former president has already published two books: 1995's Dreams from My Father: A Story of Race and Inheritance and 2008's The Audacity of Hope: Thoughts on Reclaiming the American Dream.
According to reports, the two books sold more than five million copies combined.
Obama has already hired former White House speechwriter Cody Keenan to work on the book.
The planned presidential memoir has no publisher attached, however both Dreams from My Father and The Audacity of Hope were published by Random House.
Random House is a subsidiary of Penguin Random House, which is jointly owned by the media companies Bertelsmann and Pearson.