5D Price Crash?

I'm sitting here biding my time, waiting to see what happens with existing 5D prices once the MkII is released.

Do you think there will be a significant drop in prices for second hand 5Ds, or will the current global financial climate keep the values up due to people hanging on to original 5Ds instead of upgrading to the MkII?

In the UK a 5D would cost around £850 second hand, which is too much for me. £500 is closer to my budget! Am I in with a chance here, or will I have to sell another kidney?

Mike

Don,t think you will see a second hand price drop to £500 for a while, we might see the the mark I come down to a £1000 which might bring the second hand price down to £700 for a minter.
The 5D is very much a cult status camera, I will be looking for a mark II next year when the price drops to around £1700, as for my mark I, I will keep it as a momentum to what Canon have achieved in bringing full frame to the masses.

Hmmm, that's not too bad then. I might be able to stretch to £700 if prices end up around that level. I could always sell my 20D to raise some extra money.

Mike

Mike-DT6 wrote in post #6476111
Hmmm, that's not too bad then. I might be able to stretch to £700 if prices end up around that level. I could always sell my 20D to raise some extra money.

Mike

No, keep your 20D its still good enough (1.6 crop) for those close up wildlife/sports shots. Do,nt eat or drink for 30 days then you will have the budget for the 5D. Best of Luck.

Once the 'II is fully out and available might see a slight bit more drop.

I was looking at buying the MKII from the US but now with the Aussie dollar dropping so much it is out of my price range so I am hoping to get a 5D around christmas instead.

cookey wrote in post #6476176
I was looking at buying the MKII from the US but now with the Aussie dollar dropping so much it is out of my price range so I am hoping to get a 5D around christmas instead.

I was looking at a 5D Mark II as well until our dollar died (adding around AU$1,000 to the price). My new 5D MKI should arrive by wednesday. Ended up cheaper to get the Mark I AND a 100-400 L for the same as they now want for a Mark II.

Judder Man wrote in post #6476125
No, keep your 20D its still good enough (1.6 crop) for those close up wildlife/sports shots. Do,nt eat or drink for 30 days then you will have the budget for the 5D. Best of Luck.

Thanks, I'll need a lot of luck if I'm going to last 30 days without my dinner! Ideally I would like to keep my 20D as a back-up, but if I have to I'll sell it to get a 5D.

Mike

Mike-DT6 wrote in post #6486187
Thanks, I'll need a lot of luck if I'm going to last 30 days without my dinner! Ideally I would like to keep my 20D as a back-up, but if I have to I'll sell it to get a 5D.

Mike

Well if you are eating $90 in food a day now I know you wont make it 2 days without eating

It looks as if prices might be on their way down now. They seem to be in the £700-£800 range, down from the £800-£900 range that they were going for when I first started looking.

Here are the selling prices for the last six 5Ds (bodies only, boxed with all associated items, unless stated) that I have watched on eBay, in date order, most recent towards the bottom:

£845 - Four months old; 200 actuations.
£832 - One year old; light use.
£790 - Eleven months old; 5500 actuations.
£760 - Seventeen months old; 14,000 actuations.
£720 - 9934 actuations.
£774 - Eight months old; 3922 actuations (manuals/CDs, but no box).

Mike

I don't think that prices will fall much. Anyone who is shopping around for a 5D knows that the new version will be hitting stores shelves soon so prices for used bodies have already adjusted. This effect is what economists call the "announcement effect" . even though new bodies are not yet available their announcement by Canon caused an adjustment in price. For people who follow the financial markets you see this effect all the time; especially in the bond markets where prices adjust in anticipation of a interest rate cut and then when the actual rate cut occurs there is no futher price movement.

That said, I recently picked up a mint condition used 5D with all accessories and box, BG-E4 grip, four genuine BP411A batteries, E1 hand strap, and a RRS L-plate for $1,500. That means the camera alone is probably valued at about $1,250.

I wasn't sure about what effect the MkII would have on MkI prices, but I'm pretty sure the recession is going to take its toll on prices whatever else happens. I'm not sure what it's like over there in the US, but it's all doom and gloom over here at the moment and we're in the early stages of a recession.

$1250 for a 5D is about £775 at the current exchange rate. Very recently though, it would have been only £630 as the exchange rate was nearly $2.00 to £1.00.

Mike