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FORUMS Canon Cameras, Lenses & Accessories Canon EF and EF-S Lenses 
Thread started 07 Jan 2014 (Tuesday) 18:06
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So Much For L Lens Values

 
mikeinctown
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Jan 24, 2014 10:28 |  #76

Sorry to bump this up but after reading the entire thread, it seems that everyone is focused on two lenses. Those lenses ahve dropped in value on the used market because of over saturation in the market and because of obsolescense with regard to a better product. I bought the Siggy 35 and tested it same day against a CPS 35L loaner. The Sigma was sharper. So why pay $1100 or whatever for a product when I can get something better for a couple hundred less, brand new?

The second thing I noticed was that some people don't care about the depreciation their lenses may take. It seems to me that these people have also claimed their lenses have made them money. It really makes no sense to compare a hobbyist with a business when it comes to rationalization of buying a lens because the business can write the purchase off or depreciate it and build it into their pricing structure. A hobbyist may be more concerned with residual value since they are not making money from their passion, nor are they able to get any tax credit from the purchase.

So I guess what I am trying to say is that people argued apples and oranges.

Overall, I have seen that the Canon versions do hold their value well over third party lenses. Partly because they are great lenses, and partly because the third parties seem to update their stuff a lot more often or change design in order to compete with the more expensive name brand and to gain market share. More updates mean more old product going for a discount as people buy the latest and greatest. If Canon released a new version every three years the old stuff would lose value faster.

I'm thinking of picking up a V2 of the 70-200 but have concerns as the third party people have versions that are relatively close in performance with the L version. So if I buy the L, I am taking a gamble that the resale value will hold, as I don't plan on making money with it. (plus the timing of a purchase can be exerything, considering refurb lenses and rebates)




  
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4100xpb
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Jan 24, 2014 13:32 |  #77

Cubdriver wrote in post #16595907 (external link)
I suppose the reality is that quality lenses, unless somehow rendered truly obsolete, will likely always hold some value. Whether this value matters to someone is really a personal thing - to some it's important, and to others it's not. Additionally, a new lens coming out may reduce the value of an existing lens, but it doesn't cause the old lens to suddenly stop producing acceptable images. The new lens may make BETTER images, but the older one's don't get any worse than they were before.

FWIW.

-Pat

And obsolescence does happen from time to time - with Canon being the most notorious culprit. How much are FD lenses worth now?

That said, I don't see the EF mount going anywhere anytime soon.




  
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stpix
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Jan 24, 2014 18:11 |  #78

I am happy with lower prices. I buy things like camera gear and electronics to use. I have never resold them, I just add to what I have. I don't have the time or patience to buy sell used stuff on the Internet.

Consumer goods of any kind are terrible investments.


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Dillan_K
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Jan 24, 2014 18:22 |  #79

The two lenses you mentioned are especially vulnerable. People buy the 24-105 as a kit, and then upgrade to primes and dump the zoom. The 35mm f/1.4L has been hit by the recent Sigma lens. I think other lenses which might be dropping in value are the 24-70mm f/2.8 (Mk I) and the 24mm f/1.4 Mk I for exactly the same reason. I'd buy L glass with confidence. Once you have a lens, don't worry about resale. Use it and enjoy it.


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mikeinctown
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Jan 24, 2014 18:57 |  #80

Actually the 24-70 v1 is finally coming back down to where it was a couple years back. When I joined POTN the V2 hadn't been announced, or the price hadn't been advertised. A new V1 was selling for $1,200 at several places and they were selling used in the $900 range. When the V2 price was announced, suddenly those people wanted $1,300 for their used lens. Now I see a pile of the V1 here and on FM and because of this, the price is coming down.

The one problem I see with buying an out of date lens is that after a given number of years, it is no longer supported by Canon for repair. This is one reason why I sold my 70-200 V1 when I did. I figured if I hung onto it for a couple more years, the used price would drop considerably as canon stopped supporting it. Since I don't make a living off my stuff, it makes sense to me to get the most value out of it when given the opportunity.




  
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drive_75
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Jan 25, 2014 02:07 |  #81

mikeinctown wrote in post #16632744 (external link)
Sorry to bump this up but after reading the entire thread, it seems that everyone is focused on two lenses. Those lenses ahve dropped in value on the used market because of over saturation in the market and because of obsolescense with regard to a better product. I bought the Siggy 35 and tested it same day against a CPS 35L loaner. The Sigma was sharper. So why pay $1100 or whatever for a product when I can get something better for a couple hundred less, brand new?

The second thing I noticed was that some people don't care about the depreciation their lenses may take. It seems to me that these people have also claimed their lenses have made them money. It really makes no sense to compare a hobbyist with a business when it comes to rationalization of buying a lens because the business can write the purchase off or depreciate it and build it into their pricing structure. A hobbyist may be more concerned with residual value since they are not making money from their passion, nor are they able to get any tax credit from the purchase.

So I guess what I am trying to say is that people argued apples and oranges.

Overall, I have seen that the Canon versions do hold their value well over third party lenses. Partly because they are great lenses, and partly because the third parties seem to update their stuff a lot more often or change design in order to compete with the more expensive name brand and to gain market share. More updates mean more old product going for a discount as people buy the latest and greatest. If Canon released a new version every three years the old stuff would lose value faster.

I'm thinking of picking up a V2 of the 70-200 but have concerns as the third party people have versions that are relatively close in performance with the L version. So if I buy the L, I am taking a gamble that the resale value will hold, as I don't plan on making money with it. (plus the timing of a purchase can be exerything, considering refurb lenses and rebates)

It's just lens. You are making too big of a deal with it. If you want a lens that doesn't depreciate much then buy a rare lens and put it in a bank safe and never touch so the value will be higher. If you want to shoot photo, then buy the best lens you can afford or within your budget and stop worrying about the value of the lens.




  
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Aronis
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Jan 25, 2014 16:57 |  #82

Some reviewers bring up the fact that the newer cameras have the ability to correct the issues caused by less expensive lens.

Given this new technology perhaps lens resale value may drop as the need for a great lens vs a fair lens will change.


1Dx, 10D 28-70 L 2.8, 50 1.4, 28 2.8

  
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Raymond ­ Lin
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Jan 25, 2014 17:13 |  #83

If I were in the market to get a new 35mm, it makes sense to buy the Sigma because you save a lot of money and the IQ is almost indistinguishable. I personally have had my 35L a few years and it has earn me more money than it costs many times over and took some of my favourite images with it. It is still a Class A lens and will continue to be so.

Saying that, I am going to sell my 50/1.4 when the new Sigma 50mm is released.


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16-35L | 24-70L | Sigma 20A | 24LII | 35LII | 45TSE | Sigma 50A | 85LII | 100L Macro | 135L | 600EX-RTs

  
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NWPhil
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Jan 25, 2014 20:47 |  #84

drive_75 wrote in post #16635020 (external link)
It's just lens. You are making too big of a deal with it. If you want a lens that doesn't depreciate much then buy a rare lens and put it in a bank safe and never touch so the value will be higher. If you want to shoot photo, then buy the best lens you can afford or within your budget and stop worrying about the value of the lens.

+1bw!


NWPhil
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mikeinctown
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Jan 26, 2014 09:55 |  #85

drive_75 wrote in post #16635020 (external link)
It's just lens. You are making too big of a deal with it. If you want a lens that doesn't depreciate much then buy a rare lens and put it in a bank safe and never touch so the value will be higher. If you want to shoot photo, then buy the best lens you can afford or within your budget and stop worrying about the value of the lens.

Every purchase someone makes is based on a criteria they have set for themselves. For some people it is the best tool to make money. For others it is a cost limitation, or yes even residual value and for others it is a combination of everything mentioned. Some people will only buy new and then they sell whatever it is after 3-4 years and buy another new one as the latest and greatest comes out. Who cares what the reasoning is, it is their money.




  
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pyrojim
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Jan 26, 2014 15:24 |  #86

stpix wrote in post #16634078 (external link)
I am happy with lower prices. I buy things like camera gear and electronics to use. I have never resold them, I just add to what I have. I don't have the time or patience to buy sell used stuff on the Internet.

Consumer goods of any kind are terrible investments.

Sigh.... please tell that to every person trying to sell a canon 5D mark 2 for over.... $900.

They ALL buy these cameras with so much emotion, and then hold the market hostage. Sorry, NO ONE'S 5D mark 2 is worth more than 1200.


PhaseOne H25
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drive_75
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Jan 26, 2014 15:25 |  #87

mikeinctown wrote in post #16638052 (external link)
Every purchase someone makes is based on a criteria they have set for themselves. For some people it is the best tool to make money. For others it is a cost limitation, or yes even residual value and for others it is a combination of everything mentioned. Some people will only buy new and then they sell whatever it is after 3-4 years and buy another new one as the latest and greatest comes out. Who cares what the reasoning is, it is their money.

You are correct. It's your money and you can do what please you so why are you here asking why and what you should buy and talk about lens being investment? First of all lens is not an investment. I just want to clarify that. You don't need anyone's opinion how to spend your money.




  
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Scatterbrained
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Jan 26, 2014 15:33 |  #88

pyrojim wrote in post #16638841 (external link)
Sigh.... please tell that to every person trying to sell a canon 5D mark 2 for over.... $900.

They ALL buy these cameras with so much emotion, and then hold the market hostage. Sorry, NO ONE'S 5D mark 2 is worth more than 1200.

You can't "hold the market hostage" if they are getting the money they ask for then that means there are people who value the camera at that price. If you don't like it don't pay it. The used 5DII market isn't being held hostage by emotional owners, the prices are being held up by buyers willing to part with their cash.


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pyrojim
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Jan 26, 2014 15:45 |  #89

Scatterbrained wrote in post #16638862 (external link)
You can't "hold the market hostage" if they are getting the money they ask for then that means there are people who value the camera at that price. If you don't like it don't pay it. The used 5DII market isn't being held hostage by emotional owners, the prices are being held up by buyers willing to part with their cash.

Yes you can. If the average owner who is selling their camera happens to have made an emotional purchase, they would be more likely to want as much money back as possible. In my neck of the woods, the average seller of a 5D is NOT someone who uses the camera. It is someone who babies the camera.

Surprisingly, used D800's are cheaper. I should probably pick one of those up instead.


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Scatterbrained
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Jan 26, 2014 15:56 |  #90

pyrojim wrote in post #16638898 (external link)
Yes you can. If the average owner who is selling their camera happens to have made an emotional purchase, they would be more likely to want as much money back as possible. In my neck of the woods, the average seller of a 5D is NOT someone who uses the camera. It is someone who babies the camera.

Surprisingly, used D800's are cheaper. I should probably pick one of those up instead.

No. If no buyers emerge at a given price the price will come down. It's simple supply and demand. So long as demand exceeds supply the price will not come down; i.e., so long as the cameras are selling at the listed price the price will remain stable. You can always check Adorama ($1,400 used), B&H($1,400 used), and K.E.H.($1,500 used). I'm sorry that the current used price of the 5DII annoys you, but I assure you it's simply a matter of supply and demand.


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So Much For L Lens Values
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