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FORUMS Canon Cameras, Lenses & Accessories Canon EF and EF-S Lenses 
Thread started 23 Jun 2011 (Thursday) 09:09
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Resale value of photography gear

 
T-Fish
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Jun 23, 2011 09:09 |  #1

I was just going to post this in the "Deal of a lifetime" thread, but I see it's been locked. I read the thread yesterday on my phone and didn't feel like replying and figured I'd wait until I got home. Anyways, here is what I have to say.

While I don't remember what the OP of that thread bought, I just know it was a good deal. As you can tell, I am new here. Until I looked at the Marketplace on here, I'd have never guessed in a million years that the resale of photography gear is as high as it is. I would have been the guy selling my stuff super cheap. I've bought all of my gear brand new (minus the 50d), so I know what it originally cost me and how much I have into it. In my other hobby, racing motocross (was into car audio about 12 years ago), a person is doing really well if they sell used items for 60% of what they paid. 50% would be more like it in a lot of cases, and even less in others.

Just before I found this place and the marketplace, I had a Canon BG-E2N on Craigslist (mint) for $75, just hoping it'd be worth that. It was on there for a couple of weeks with no bites at all. I thought about dropping the price on it to see if that would help move it. Then I found POTN. I changed my ad, put $150 on it just for kicks. Bam, it sold 2 days later. No haggling on the price either. She met up with me, I put it on her camera for her, and she paid me $150 cash right there.

My first DSLR was a Canon 40d. Less than 4,000 clicks and I was hoping to get maybe $350-$400 for it, since it was so "old". I bought it in July of 2008.

My point is that there are stupid people like myself out there that don't know any better. Well, I'm not that stupid anymore, lol. Every time I go into the Marketplace on here, my jaw drops. I'm still in shock! I keep thinking "Maybe I can get some of my money out of this stuff after all".




  
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Quad
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Jun 23, 2011 10:07 |  #2

At one time you could not get all that much since you were limited to selling locally through want ads. That was some time ago, now with the internet you have a large market to advertise to and used prices are way up.




  
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randy98mtu
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Jun 23, 2011 10:10 |  #3

Quad wrote in post #12644537 (external link)
At one time you could not get all that much since you were limited to selling locally through want ads. That was some time ago, now with the internet you have a large market to advertise to and used prices are way up.

In some cases higher than the price paid new some time ago. I have been thinking about taking my money out of the stock market and buying glass as my retirement plan! :cool:


Canon EOS R + RF 24-105 + RF 35 + 50L + 85L II + 24-70L II + 70-200 f/4L IS + 100-400 L IS II
EOS M6 + EF-M 22mm + EF-M 15-45 IS | Sony A7R iii + 35/2.8 ZA + 50/1.8 + FE 24-240
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pyrojim
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Jun 23, 2011 10:22 as a reply to  @ randy98mtu's post |  #4

A lot of people think that gear just holds its value. I tend to disagree... Now, I do NOT think that gear looses value like a new car would(which is just terrible, but that is the sad truth of it), but gear wears out. I deduct a LOT for scratches and nicks because if it is babied as people claim, then there should NOT be scratches.

I do have a problem with sellers thinking it is a sellers market. No it is not. no one has any extra income to spend. You are plain nuts to think that I am going to pay with in 150 bucks of the new cost on a 24-70mm lens that is more than... a day old(most of the ads that ask for 1200-1250... for a 5 year old lens.... sorry you are out of your f*****g mind. :)


do you know how much a car looses in value after 5 years? imagine if you had an M3 convertible with the SMG transmission... you would cry(they became near worthless)


(going on down the list)


People who buy 5Dii kits, and sell off the 24-105mmL for a 150-200$ profit....

People who bought the 70-200 IS2 online(a good idea) when it first came out, then to resell it later for 2250.....

Now, here is where I contradict myself. I bought a baritone saxophone that is made in Japan. the company only makes a hundred or so every year... and well, this year.... their production is way down. you can bet that my sax has appericated in value(by about 45%)


As far as retirement funding goes.... id never invest in lenses. maybe id buy a saxophone or two in the comming years(like 15).... maybe. Those are hand made, by a very select few individuals. if i had to choose Yanagisawa sax or 800L..... id choose the yanagisawa...

.


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rick_reno
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Jun 23, 2011 10:31 |  #5

Some stuff holds it value well, other stuff doesn't. L glass does good, non L glass not so well.




  
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T-Fish
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Jun 23, 2011 10:39 |  #6

I'm finding out that the used market is an odd one, to say the least.




  
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KVN ­ Photo
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Jun 23, 2011 10:43 |  #7

rick_reno wrote in post #12644673 (external link)
Some stuff holds it value well, other stuff doesn't. L glass does good, non L glass not so well.

Exception to 50 f/1.8 mark I. Resale value may be higher.


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solesupremebeing
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Jun 23, 2011 10:45 |  #8

I recently managed to sell my 40D Body on ebay for £450! I was absolutely stunned to get so much for it! It was over three years old and only cost £800-ish when I bought it.


Jamie ^^
Body: Canon EOS 60D
Lenses: Canon 50mm 1.4, Canon 85mm 1.8, Canon 15-85mm 3.5-5.6, Tamron 70-300mm 4.0-5.6
Dreaming of: Canon EF 70-200mm f/2.8 L IS II USM

  
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BJarocki
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Jun 23, 2011 10:47 |  #9

I ended up making money when I sold my fisheye and I bought it new!


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randy98mtu
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Jun 23, 2011 10:47 |  #10

T-Fish wrote in post #12644276 (external link)
I was just going to post this in the "Deal of a lifetime" thread, but I see it's been locked. I read the thread yesterday on my phone and didn't feel like replying and figured I'd wait until I got home. Anyways, here is what I have to say.

While I don't remember what the OP of that thread bought, I just know it was a good deal. As you can tell, I am new here. Until I looked at the Marketplace on here, I'd have never guessed in a million years that the resale of photography gear is as high as it is. I would have been the guy selling my stuff super cheap. I've bought all of my gear brand new (minus the 50d), so I know what it originally cost me and how much I have into it. In my other hobby, racing motocross (was into car audio about 12 years ago), a person is doing really well if they sell used items for 60% of what they paid. 50% would be more like it in a lot of cases, and even less in others.

Just before I found this place and the marketplace, I had a Canon BG-E2N on Craigslist (mint) for $75, just hoping it'd be worth that. It was on there for a couple of weeks with no bites at all. I thought about dropping the price on it to see if that would help move it. Then I found POTN. I changed my ad, put $150 on it just for kicks. Bam, it sold 2 days later. No haggling on the price either. She met up with me, I put it on her camera for her, and she paid me $150 cash right there.

My first DSLR was a Canon 40d. Less than 4,000 clicks and I was hoping to get maybe $350-$400 for it, since it was so "old". I bought it in July of 2008.

My point is that there are stupid people like myself out there that don't know any better. Well, I'm not that stupid anymore, lol. Every time I go into the Marketplace on here, my jaw drops. I'm still in shock! I keep thinking "Maybe I can get some of my money out of this stuff after all".

Don't pay prices you don't think are fair. Truth is, it kind of is a sellers market right now. Stores are still out of stock on a lot of stuff. Supply and demand. You have something I want, I have to pay what we agree it's worth. If I don't think it's worth that much, I don't have to pay it. If you think it's worth more, you can hold out for another buyer.

I agree this stuff has to wear out in some way, yet people are using lenses they bought 5+ years ago with no problems. So maybe it doesn't. Regardless, as long as people are honest in stating how old something is and estimating its usage (lots of leeway here!) a buyer can decide what they feel is reasonable. Fortunately with L stuff, you can at least tell when it was manufactured.


Canon EOS R + RF 24-105 + RF 35 + 50L + 85L II + 24-70L II + 70-200 f/4L IS + 100-400 L IS II
EOS M6 + EF-M 22mm + EF-M 15-45 IS | Sony A7R iii + 35/2.8 ZA + 50/1.8 + FE 24-240
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duane0524
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Jun 23, 2011 10:47 |  #11

rick_reno wrote in post #12644673 (external link)
Some stuff holds it value well, other stuff doesn't. L glass does good, non L glass not so well.

I don't know if that applies across the board. The are several non-L series lenses as well as non-Canon lenses that just continue to creep up in value.


Canon 50D | Canon 17-55 | Sigma 30 1.4 | Canon 70-200 2.8 IS II| Canon 85 1.8 | 430EXII| 580EX ll | ST-E2 | Canon TC 1.4x II | Benro Travel Angel C1682TB0

  
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Invertalon
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Jun 23, 2011 10:50 |  #12

Much of my gear I sell for break-even if not a slight profit... For example, I buy equipment using rebates (instant Canon rebates, Mr. Rebates, Bing (miss it!), eBay Bucks)... And get a nice percentage off of the normal price. SO when I go to sell it, I already eliminated much of the depreciation.


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GyRob
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Jun 23, 2011 11:06 |  #13

We all like a bargain but sometimes a poit comes were by not paying a higher price we will miss out on takeing shots ,at that point i would pay more.
Rob.


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aboss3
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Jun 23, 2011 11:16 |  #14
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pyrojim wrote in post #12644620 (external link)
A lot of people think that gear just holds its value. I tend to disagree... Now, I do NOT think that gear looses value like a new car would(which is just terrible, but that is the sad truth of it), but gear wears out. I deduct a LOT for scratches and nicks because if it is babied as people claim, then there should NOT be scratches.

I do have a problem with sellers thinking it is a sellers market. No it is not. no one has any extra income to spend. You are plain nuts to think that I am going to pay with in 150 bucks of the new cost on a 24-70mm lens that is more than... a day old(most of the ads that ask for 1200-1250... for a 5 year old lens.... sorry you are out of your f*****g mind. :)


do you know how much a car looses in value after 5 years? imagine if you had an M3 convertible with the SMG transmission... you would cry(they became near worthless)


(going on down the list)


People who buy 5Dii kits, and sell off the 24-105mmL for a 150-200$ profit....

People who bought the 70-200 IS2 online(a good idea) when it first came out, then to resell it later for 2250.....

Now, here is where I contradict myself. I bought a baritone saxophone that is made in Japan. the company only makes a hundred or so every year... and well, this year.... their production is way down. you can bet that my sax has appericated in value(by about 45%)


As far as retirement funding goes.... id never invest in lenses. maybe id buy a saxophone or two in the comming years(like 15).... maybe. Those are hand made, by a very select few individuals. if i had to choose Yanagisawa sax or 800L..... id choose the yanagisawa...

.

Couldn't agree more with!


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aboss3
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Jun 23, 2011 11:18 |  #15
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But during the last 3-4 months, prices on photo gear went up by approximately 30%! It's worth to buy used gear, as one can resell it with zero loss.
I like to buy new depending on what I'm buying....but as far as l-glass goes....it always goes up in price.


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Resale value of photography gear
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