Canon 24-70mm f/2.8L I - Resale Value?

I've seen this question sprinkled throughout the 24-70II threads, but I believe it needs it's own thread.

What is going to happen to the prices of the 24-70 Mk I? With a rebate ending March 3rd, it'll probably be the last time this lens receives a rebate as it starts to vanish off of store shelves. Having peaked at $1400 as recently as November, this lens is also at the lowest price in 2 1/2 years.

Usually, when a "replacement" comes out for a lens, everyone dumps the original and migrates to the replacement. But, with the price differential of $1000, I can see that effect negated. Many people who want a 24-70 range 2.8 may just buy the Mk I while they can because they look at the $1300 price as a "bargain".

I would not be surprised if the Mk I climbs up to the 1500-1600 price range in the coming weeks/months, until the Mk II drops in price.

looking at the MTF chart, if the MK2 is as good or better than 70-200 MK2 then I would pay no more than $800 for a used MK1, actually I take that back...I would pay $0 for one because the image quality from the old MK1 never impress me. lol

With the very high prices for the new, I think older models of lenses will hold value pretty good honestly. As they still will be about $1K cheaper!

ben805 wrote in post #13841564
looking at the MTF chart, if the MK2 is as good or better than 70-200 MK2 then I would pay no more than $800 for a used MK1, actually I take that back...I would pay $0 for one because the image quality from the old MK1 never impress me. lol

I have paid $0 for a mark i. Mark ii for me, it is that good.

wdwpsu wrote in post #13841328
I've seen this question sprinkled throughout the 24-70II threads, but I believe it needs it's own thread.

What is going to happen to the prices of the 24-70 Mk I? With a rebate ending March 3rd, it'll probably be the last time this lens receives a rebate as it starts to vanish off of store shelves. Having peaked at $1400 as recently as November, this lens is also at the lowest price in 2 1/2 years.

Usually, when a "replacement" comes out for a lens, everyone dumps the original and migrates to the replacement. But, with the price differential of $1000, I can see that effect negated. Many people who want a 24-70 range 2.8 may just buy the Mk I while they can because they look at the $1300 price as a "bargain".

I would not be surprised if the Mk I climbs up to the 1500-1600 price range in the coming weeks/months, until the Mk II drops in price.

i doubt it. i can't see the price moving much unless the shills are right about the tamoron, and they haven't been right since i've been here .

ed rader

It's not gonna move much in price. I'm going to sell my minty 24-70L for the Tamron VC.

I anticipated selling my 24-70 f/2.8 for around $950. I think that price will hold in the used market after the 24-70 f/2.8L II hits retailers.

i think the price will drop... look what happened to the 70-200 is mk i, was going regularly 1500-1600 before, now they go for 1300-1400

bfinta wrote in post #13841910
i think the price will drop... look what happened to the 70-200 is mk i, was going regularly 1500-1600 before, now they go for 1300-1400

But that's after the II's street price dropped to about $2200.

if the tamron 24-70 VC is priced at $800~900 brand new, it will bring down the price of the used canon MK1 even more. The MK1's days is over, fat hope to sell a used one for over $1000.

Around $800-$1000

probably wont move much. Consider the 70-200 Mk1 vs Mk2. Prices have held relatively steady due to the Mk2's price point. Sure, it'll dip a bit, but not much. I highly doubt the improvement for the 24-70 will be as pronounced as the 70-200.

If the difference is around $1k for the new one, then I don't see the old price will change much.

bfinta wrote in post #13841910
i think the price will drop... look what happened to the 70-200 is mk i, was going regularly 1500-1600 before, now they go for 1300-1400

And yet I still sold a 70-200 2.8 IS mk1 last week for $1650 .. so they still fetch real money. Not everyone has $2300 to drop on a lens

I don't think it'd change too much... the 24-70 II is significantly more expensive. Hard to justify.

Maybe drop $100 at most?