The Best Translated Book Award is an American literary award that recognizes the previous year's best original translation into English, one book of poetry and one of fiction. It was inaugurated in 2008 and is conferred by Three Percent, the online literary magazine of Open Letter Books, which is the book translation press of the University of Rochester. A long list and short list are announced leading up to the award. The award takes into consideration not only the quality of the translation but the entire package: the work of the original writer, translator, editor, and publisher. The award is "an opportunity to honor and celebrate the translators, editors, publishers, and other literary supporters who help make literature from other cultures available to American readers."In October 2010 Amazon.com announced it would be underwriting the prize with a $25,000 grant. This would allow both the translator and author to receive a $5,000 prize. Prior to this the award did not carry a cash prize. Source: Wikipedia (en)