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A vanity press prints and binds a book at the writer's sole expense. Costs include the publisher's profit and overhead (vanity publishing is usually more expensive than self publishing). The completed books are the property of the author, and the author retains all proceeds from sales.
Vanity publishers do not screen for quality - they publish anyone who can pay - and typically provide no book editing, book marketing/promotion, or book warehousing services. They are a book publishing company not a self publishing company.