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Thread started 20 Jul 2015 (Monday) 17:32
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Where can we talk about resale (used) pricing?

 
mileslong24
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Jul 21, 2015 17:08 |  #46

It's just supply and demand. I let my 7D go for dirt cheap because there were 10 others posted. I knew my only chance for a quick sale was to price below everyone else. While I would've preferred 100-150 more, I knew that I would have to wait possibly weeks and be competing against even more sellers. But others may not need the money and would rather wait for top price. Only reason I sell cheap is because I know I will end up keeping items if the price goes low enough. For example, I was going to sell my T3i couple years back when I bought a 7D. It was mint with only 10k on shutter but people were low balling. I ended up keeping it rather than tAking a few hundred. Fast forward a few years and it's left my bag 3 times. Should've just taken the money since now I will never sell because I'd rather have a backup or one for my kids to play with than the 150-200 I will get for it. I have a really nice 400 5.6L I listed for what I think is a steal and have had no action, so even listing as a bargain doesn't guarantee action.




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CyberDyneSystems
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Post has been last edited over 2 years ago by CyberDyneSystems. 4 edits done in total.
Jul 21, 2015 18:23 |  #47

There are rare times when something happens that drives down the cost of specific items faster than usual, like when a new 7DII comes out, or a new 100-400mm.

This pushes the resale of the 7D down a lot, for several reasons.
The biggest being the "glut" that mileslong mentions.

Likewise, the 100-400mm dropped to resale value of the old version, as well as the 400mm prime.
Some understand this, but many may not realize that the lens they could have sold for $300.00 more a few months ago just dropped that much in value.

( and have pity on the poor people trying to sell the Tamron now that the new Canon and SIGMA super zooms are out? :( )

After people are done "unloading" the price may go right back up.


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DreDaze
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Jul 21, 2015 18:48 as a reply to CyberDyneSystems's post |  #48

the 100-400II dropped the price of every telephoto out there pretty much...with so many 100-400I's going for $800 or so, any lens that was near that price used dropped as well...i don't even know if i could get $500 for my 150-500OS now...which is why i still have it...occasionally you can still see people posting their 100-400L, that think it's worth 1,000 or more...and it's just not going to happen, they're regularly going for sub $800 on ebay now so after fees and all that, the price would have to be closer to $700 here to get any action


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rantercsr
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Jul 21, 2015 21:06 |  #49

nothing wrong with making a profit, as long as no one is scammed in any way

i also notice ,like everyone else the odd asking prices that are only a few bucks away from what new would cost...and find myself struggling to figure out how to figure out value of itemes ive wanted to sell

somethings are worth it in my opinion,, a near new low shutter count with 9 months still left on warranty 5d3 for 100 dollars less than brand new from and BandH might be considered since theres also the tax savings which in NY is 9%

i had the sigma 18-35 1.8 which i sold for about 75 dollars less than i bought it for {800 from BandH if i recall correctly } but that included paypal fees and shipping .. so lets say about 100 less..i was pretty happy about that ,, that was when they would only be in stock at BandH for a few days and sell out..

on the other hand,i've made 2 attempts to sell my 24-70 2,8 mkii..once before price drop and once after i paid $2200 , or 2000 after rebate barely a year ago.. its now about 1800 brand new or about 1550 reburbed..in my opinion if i want to sell it i cant put it up for more than refurb price and i would think less , as i wouldnt buy something used when i could get it for same price refurbed,, that is unless i want it NOW more often than not the more popular refurbed lenses are not in stock,
i think both times i posted for $50 below refurb price.. i thouhgt that was a good place to start as an asking price.. i didnt get much interest.. (maybe its because of my low post count and lack of transactions therefore lack of feedback).. i still use it plenty so its not like its collecting dust while it continues to lose value

There is a point where i'd rather keep something than go so low that i feel i've ripped my self off..its all in my head of course market value is market value.. but its hard to swallow sometimes remembering paying 2000 and a year later taking more than a 600 dollar loss in order to get the item to move .. i suppose thats where alot of the unrealistic asking prices come from


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bumpintheroad
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Jul 21, 2015 21:47 |  #50

Value is always in the eye of the beholder. Like I said before, if buyers are paying the price than the price isn't too high. And if sellers are accepting the price it isn't too low. I'll admit there seems to be a common but intrinsically false belief that lenses hold their value. The reality is that lenses wear just like cameras do, and are just as complex and intricate mechanical devices that can be affected by rough handling. As a buyer I'd like to see disclosure in the listings describing the age and whether the item was bought new or used. It also helps if the seller is offering some kind of reasonable money-back guarantee (I always offer a 7-day guarantee on items I sell).

Being on both the buying and selling end at various times I can appreciate the desire to save money as well as to make as much as you can. Sometimes I've been disappointed in both situations, but patience always yields good results.

For example I wanted a 17-55/2.8 but didn't feel $650 was the right price point. That had nothing to do with the retail price of the lens new, I just felt it was an overpriced lens for being an EF-S. So I used my Tamron 17-50 non-VC until I made a deal on the Canon version for $550.

When I went to sell the Tamron it was selling new for $499, so I listed it at $350. Nobody was interested, not even a low-ball offer. So I looked at the used prices and saw it was selling in the range of $250-300. Since I'd just got mine PM'ed and all internal dust removed I relisted for $299. It still did take a few weeks but ultimately I accepted an offer of $275 through Craigslist, which netted me almost as much as selling here after shipping, handling and PP fees. I included my standard 7-day guarantee and when I followed-up the buyer was very happy and thanked me for the deal.

Ultimately, that's the way I want every transaction to go, with the buyer being thankful for the deal. Particularly when I'm the buyer. ;)


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ptcanon3ti
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Jul 21, 2015 21:50 |  #51

rantercsr wrote in post #17639740 (external link)
nothing wrong with making a profit, as long as no one is scammed in any way

i also notice ,like everyone else the odd asking prices that are only a few bucks away from what new would cost...and find myself struggling to figure out how to figure out value of itemes ive wanted to sell

somethings are worth it in my opinion,, a near new low shutter count with 9 months still left on warranty 5d3 for 100 dollars less than brand new from and BandH might be considered since theres also the tax savings which in NY is 9%

i had the sigma 18-35 1.8 which i sold for about 75 dollars less than i bought it for {800 from BandH if i recall correctly } but that included paypal fees and shipping .. so lets say about 100 less..i was pretty happy about that ,, that was when they would only be in stock at BandH for a few days and sell out..

on the other hand,i've made 2 attempts to sell my 24-70 2,8 mkii..once before price drop and once after i paid $2200 , or 2000 after rebate barely a year ago.. its now about 1800 brand new or about 1550 reburbed..in my opinion if i want to sell it i cant put it up for more than refurb price and i would think less , as i wouldnt buy something used when i could get it for same price refurbed,, that is unless i want it NOW more often than not the more popular refurbed lenses are not in stock,
i think both times i posted for $50 below refurb price.. i thouhgt that was a good place to start as an asking price.. i didnt get much interest.. (maybe its because of my low post count and lack of transactions therefore lack of feedback).. i still use it plenty so its not like its collecting dust while it continues to lose value

There is a point where i'd rather keep something than go so low that i feel i've ripped my self off..its all in my head of course market value is market value.. but its hard to swallow sometimes remembering paying 2000 and a year later taking more than a 600 dollar loss in order to get the item to move .. i suppose thats where alot of the unrealistic asking prices come from


I agree with you here.

I think it is also that a lot of people think of their gear as an "investment" which, in my opinion, is just faulty thinking, especially when it pertains to electronics. Then the "investor" is faced with the reality of electronics depreciation and they are shocked.

Yes lenses depreciate less than camera bodies, possibly because they are updated less often than bodies, but they do depreciate....it's just how it is.

Hanging on to gear because of a matter of conscience...not being able to mentally take a depreciation beating, is up to the seller. If the seller can still get use out of the item then they should use it. If they can't get use out of it then the item becomes an expensive paper weight or the seller will take what they can get for it and run.

I bought my 7D refurbed at B&H with zero clicks on it for $950. I'll be selling it soon...I'll be lucky to get 450 for it. It will be better than keeping a $450 paperweight.


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cacawcacaw
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Jul 21, 2015 21:53 |  #52

Phoenixkh wrote in post #17639256 (external link)
I'm about to post a RRS MH-02 Pro monopod head for sale here. ... I have no idea what a fair price is. ....

The first thing to keep in mind is that how much you "need" out of the deal has absolutely nothing to do with what it's worth.

If this is a commonly sought item, stick it on eBay with a good description, a week long auction, and a starting price of 1 cent. The market will figure out what it's worth and you are likely to even get more than market price, because bidders become attached to the idea of buying the item as the bids go up.

If that kind of hot financial action is too rich for your blood, list it on Amazon, right in the middle of other prices for used copies of the same tripod.


Replacing my Canon 7D, Tokina 12-24mm, Canon 17-55mm, Sigma 30mm f/1.4, 85mm f/1.4, and 150-500mm with a Panasonic Lumix FZ1000. I still have the 17-55 and the 30 available for sale.

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bumpintheroad
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Jul 21, 2015 21:59 |  #53

rantercsr wrote in post #17639740 (external link)
somethings are worth it in my opinion,, a near new low shutter count with 9 months still left on warranty 5d3 for 100 dollars less than brand new from and BandH might be considered since theres also the tax savings which in NY is 9%

But isn't that false thinking?

Either you're a person who pays sales tax or not. If you don't pay sales tax then you would likely buy new from an out-of-state reseller to save that 9%. If you do pay sales tax then you're likely to remit use tax on the used, p2p purchase. I would find it odd that someone has different morals about paying tax on something new versus used. Of course things are different in countries with VAT and a p2p transaction can save a considerable amount of money in tax.


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longbeachgary
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Jul 21, 2015 22:36 |  #54

Just one more example and I'm done.

70-200 2.8 $1900 plus shipping and paypal fees. SOLD AS-IS

New the lens is currently $1999 which includes a $100 rebate ($2099-$100) and a full USA warranty. How does that make sense?


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ptcanon3ti
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Jul 21, 2015 22:41 |  #55

longbeachgary wrote in post #17639865 (external link)
Just one more example and I'm done.

70-200 2.8 $1900 plus shipping and paypal fees. SOLD AS-IS

New the lens is currently $1999 which includes a $100 rebate ($2099-$100) and a full USA warranty. How does that make sense?

It doesnt make sense. Some people are delusional about what their gear is worth.


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bigcountry
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Jul 21, 2015 23:22 |  #56

basically you are price policing.

are you interested in that lens? if so how much would you buy it for?


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DreDaze
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Jul 22, 2015 00:08 |  #57

longbeachgary wrote in post #17639865 (external link)
Just one more example and I'm done.

70-200 2.8 $1900 plus shipping and paypal fees. SOLD AS-IS

New the lens is currently $1999 which includes a $100 rebate ($2099-$100) and a full USA warranty. How does that make sense?

or you can wait for it to come in stock at the refurb store for $1679 + tax with a full one year warranty...


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liupublic
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Jul 22, 2015 00:55 |  #58

Agree that some of the prices do not make much sense. Also agree that we don't need to worry other people's posting.

If there is a buyer at that price, it will sell. If not, seller will drop the price to sell it.

Photographer's value system is kind of screwed up anyway. When I explain to my colleagues about camera gear pricing, they all laugh because most of them will use just an iPhone to take pictures. And honestly, those pictures don't look too bad.


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BlakeC
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Jul 22, 2015 06:48 |  #59

I here what the OP is saying for sure.

Are you frustrated bc people are willing to pay so much or is it bc they are willing to pay more than you? I feel that way sometimes too! Honestly people, I want to buy this item and you are all willing to pay more than me for it! It would be nice if everyone would stop buying the things I am watching before they lower to a price I am willing to pay! Seriously.


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bumpintheroad
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Jul 22, 2015 09:28 as a reply to BlakeC's post |  #60

Lol. But exactly.


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Where can we talk about resale (used) pricing?
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