Facing the unthinkable. :(. Advice?

Hello everyone. I'm going to cut the long story short and just say that my financial situation has got worse over the past year or so, to the point where my outgoings now outstrip my incomings.

This week I also had to declare my car off the road as I cannot afford the repairs needed for an MOT.

I also have debts which I am trying to clear off.

Now to the point in hand, the only possessions that I have that are worth any sort of money is my camera equipment. Last night I was thinking, that considering times have changed, if I sold my 50D etc, to help get myself back in the green, what camera could I go back to which would now cost me less, but would give me the same sort of features? Or maybe not as much. I don't do photography work much now as I find myself working all week anyway in my current job just to get extra pennies, so my hobby has now suffered as a result and my kit basically just sits there.

I see some good looking camera's on the adverts etc, even some nice bridge cameras, more compact, but with just as much ooomfff!!

Thanks everyone,

Ryan.

I wouldn't even want to imagine a situation like that for myself, but I have considered some financial aspects of owning camera gear previously.
There's a few thoughts that stand out and could potentially be useful to you.

First off, if you are in the position where you have to sell all your gear to get on, you'll have to do it, sad as it might be. If you're only looking to downgrade, camera bodies don't sell for that much, but lenses and flashes, you can pretty much sell and buy back in 6 months to a year for the same price. However, that only really counts for the higher end lenses and flashes, so in your case it's mostly the 70-200 and 430EX, with the 50D to a lesser degree.

If you do sell the entire kit, try to keep an eye on which items won't sell for much and just keep those. Camera bags, filters, spare batteries, after market lens hoods, cleaning accessories, stofen caps/off shoe cords etc don't sell for jack, and you'd be most likely just throwing those in to persuade or bargain with a potential buyer.
I'd try to sell only the items that actually bring up some cash and then take a look at what you're willing to spend.
You could opt for selling the flash, 50D and 70-200 buying a used 400D for example and keep your 18-55 and maybe the 50. That'll be the same price as a mid range compact, and you're not really losing all that much.

Good luck getting back on top of things.

Ryan
Sorry to hear of your situation. I have been there and know what it is like. What I also learned from that experience is, it will pass over time if you work at it. The economy is not going to get much better over the next few years, so sometimes an extreme effort may be needed to work your way through these trying times.

I see your gear list, and I would sell all of it. I would then purchase the likes of a s100 or similar small, but capable camera.
Since you do not spend as much time at present, this type of camera works, and is very cost effective for you.
When times improve, you can then start to work your way back into other equipment as you so choose.

Whatever you decide to do, good luck and hang in there.

40D is a good recommendation. I have a 40D and 50D. You'll save $150-200 and still have a great camera, not much different.

replace 430exii with a yongnuo ETTL, or go manual Ettl - $90/ Manual -$60. works just as well as canons, if not better. i honestly prefer using my yongnuos over my 580 because its easier to adjust and you dont have to push the annoying button to move the head. (i own 580ex, 430ex, (3) yongnuo 560's)

It's a tough choice to split the 7-2, best damn lens in its class for the price. i have the IS version now, but have owned the 2.8 IS and also a sigma 7-200 2.8// you cant really find a substitute for this lens without sacrificing a lot.

But if you need to save more, personally i'd get 2/3 prime lenses. 28mm for landscape. 50mm for 1:1 view, 100mm for reach/portraits.

I'm not rich, and really wanted to get back into photography after a long hiatus because of cashflow, so sort of where you are, I've been. I was into film, which had a ridiculously expensive ongoing cost (film, developing, etc), and just gave it up. I realized that the digital world allowed for the hobby, eliminating a major expense associated with it.

With that in mind, I think right now, your main concern should be getting your highest net in pocket cash. While a financial advisor (of which I am not) would probably tell you to sell it all and give up photography until you get back to a position where it is affordable, I think there are other ways.

Here's what I did to get back into it, and it may give you a way to stay there, and stay afloat.

My wife gave me a very small budget for a camera. That was $150. Hmm... not many Canon Dslr's out there for $150. I had a couple of EF lenses that would carry over from the film days, so I just needed a body. I researched the older digitals, and found that I would be satisfied with a couple of bodies that seemed to sell close to or at my price range (Rebel, Rebel XT, 10D, 20D, maybe one or two more). I watched, and I watched, and found a Rebel XT that I was able to grab for $81 + $9 shipping. Sweet! Is the Rebel XT a 50D? No. Does it take good pictures? Yes. Was I able to get into the Digital SLR world, and not have to sleep on the couch? Yes! So for $90 (plus a couple of bucks for a CF card and reader), I have an 8mp Canon.

If I were you, I'd sell the 50D, the 70-200mm L, and the 430ex, and buy an older body (XT, 20D, maybe even a 30D) the 55-200ef-s, and a Yongnuo flash. Keep the 18-55, as it's a good lens, and the 50 isn't valuable enough to justify selling. You should be able to get $500-$600 for the body, another $500 for the lens, and $200 for the flash. Spend $150 on the new (used) body, $150 on the 55-200, <$100 on the flash and you've netted yourself $800-$900. That's rent, or a decent car repair, or a couple of months worth of groceries. And you still have close to the same equipment (I'm not saying the XT/20D is equal to a 50D).

You sound young (20's). You have plenty of time to buy the best that you can afford. The equipment you have, you didn't need, it was what you wanted. Now you need cash more than you need higher-end photography equipment. Step up and step down so you can stay afloat. Then when things are better, buy the 5D and everything else, because by that time it will be an affordable camera, and pay for it with cash on hand.

Contrary to the very popular belief that you have to spend thousands to take a decent photo, you don't. IMHO, if you aren't making money with your camera, there is no need for the top of the line.

Tough times call for tough measures. Like you I've been there before and while you hate to give up your love for photography something has to give. I dont think selling your 50D and buying a 30D-40D or one of the rebel lineup will yield you much money. Used bodies dont hold there value well. Lenses do much better especially if you have higher end glass. I had to part with my 70-200 IS awhile back when I bought a new house that needed a new furnace and AC.

It sounds like your pretty busy working and trying to make ends meet right now. It doesn't sound like you have much time to enjoy photography and your gear isn't getting used much. If it were me and money was real tight I'd consider selling the entire kit (rather than having it collect dust when you could use the money) and replacing at a later time when finances are more solid. Maybe even buy used gear at first.

Ryan,

Sorry to hear about your state of affairs. If selling your 50D would put you in a better financial position by all means sell it. Replace it with something down the road when things improve. Wish you the best with this, keep a positive attitude and don't let the stress of money - or the lack of it - impact your health.

Thanks for the help everyone. Always guaranteed here! I don't have the time to reply to them individually right now, but I can see where you are all coming from.

Going on what Kirk has said, seems like a pretty decent option. I did own the 350D/Rebel before the 50D and just used it to the point that it was giving me errors and ceased to work, so I did get my moneys worth out of that one, and then hence the upgrade, so I would have no problem going back to something like that because as you say, they are pretty darn cheap now, and I managed to create some of my best pictures using that camera, but obviously I was not as good and confident back then so maybe I will be able to pull it off just fine. Also Kirk, I'm 24! (I also do not live at home, otherwise all this would of be alot easier!)

Pricey wrote in post #14718973
I also do not live at home, otherwise all this would of be alot easier!

Freedom (from parents) comes at a price.

Glad I could help. Good luck to you, it'll get better, it always does!

rick_reno wrote in post #14718863
Ryan,

Sorry to hear about your state of affairs. If selling your 50D would put you in a better financial position by all means sell it. Replace it with something down the road when things improve. Wish you the best with this, keep a positive attitude and don't let the stress of money - or the lack of it - impact your health.

^^^^^^^^^

This guy, in my opinion, seems to have one of the best attitudes on POTN. He's everywhere (landscapes, people, cameras, black and white threads, etc.) and he almost always has something nice to say about everyone and their work.

I like you, Rick. People should be more like you.

To the OP:

Chin up, friend. Every part of the globe, regardless of climate, has to weather storms. They are powerful, intense, and can cause a bit of damage, but because they are so strong their energy doesn't last too long and sunny skies return once more.

So, what you're facing is a storm. It won't last long, and a little while down the road (hopefully sooner than later) the storm will break and you'll be right again.


That said, maybe get a new Rebel XS from Ebay (the bodies are cheap...299 U.S. dollars) and keep that 18-55 lens you have. Sell all the rest and you'll still have a fun camera that can take outstanding photos.

Best of luck to you.

I was able to buy a 20D in perfect conditions (less than 10k shutter by my estimates, seller said ~3k, and I'd believe him) for 180 quid. If you were used to the 350D before, you would be able to get along quite well with a 20D. By now prices should have dropped even further. I'd also sell the 70-200 and get a 55-250 if funds allow. The 430EX II can be replaced with a YN565 or even 468II. You'll still have enough kit to practice your hobby well, and it won't break the bank.

Sirrith wrote in post #14721194
I was able to buy a 20D in perfect conditions (less than 10k shutter by my estimates, seller said ~3k, and I'd believe him) for 180 quid. If you were used to the 350D before, you would be able to get along quite well with a 20D. By now prices should have dropped even further. I'd also sell the 70-200 and get a 55-250 if funds allow. The 430EX II can be replaced with a YN565 or even 468II. You'll still have enough kit to practice your hobby well, and it won't break the bank.

The 55-250 is a shockingly good lens. I think you're in for a surprise when you realize the quality difference isn't as extreme as its always portrayed online.

Sorry to hear about your situation Ryan.

Honestly, If I were you I'd sell it all and pick up a good point and shoot or inexpensive mirrorless once you've clearly got back on your feet. You don't need a lot of gear to be creative

Kuma wrote in post #14718825
If it were me and money was real tight I'd consider selling the entire kit (rather than having it collect dust when you could use the money) and replacing at a later time when finances are more solid. Maybe even buy used gear at first.

same here, that's what I would do

This sucks. BUT sometimes we have to do these painful things to move through a rough spot. Sell your gear, get something to pacify the addiction and when your ready again to start collecting gear again have fun! Just think of all the cool changes coming out in the next few years, and you'll get to look at them objectively and research. Then pick and choose EXACTLY what you want!

We have all been there. I waited till the 60D came out with the plastic body because I have RA and the metal ones are just too heavy for my fingers. I am likely the only person in the world happy about the plastic but with this little break from all the pressures and new equipment zipping out you'll be able to really research and get to know exactly what you want. When your ready you will be in an excellent position to negotiate and cherry pick!