Did canon just have a price increase?

[mikehaugen]

I know that they just had one a few months ago, but I have had my eye on the 50mm f1.4 and I swear it was like $390 on amazon about a week ago, and when I looked today it is $550. Was there another increase or is it just Amazon? I see on Adorama, it is still $399 for the USA model do I need to grab it before it goes up. Really hate to because I don't really have the cash now, but to save $150 I just might.

Or hell, maybe I will just just buy the Sigma, I've heard it's better anyway.

 

[e.rose]

My friend said she saw a news report that because of what was happening in Japan, all the prices were going up. Holy Jesus, I got my 50mm f/1.4 for something like $350. Granted it was on sale for like $40 I think... or there was a rebate... or I'm not sure... but the girl wasn't kidding! :shock:

Guess I'm gonna be waiting on that wide-angle for a while. It was $500 *before* the price jump.

 

[Overread20]

Canon did recently raise their US prices to reflect the falling $ against the Yen - however the recent disaster in Japan will also see price rises as stock held dwindles because of the stopping of shipping and production in Japan. Quite how big this effect is is hard to say at this stage.

 

[HelenOster]

As retailers we are controlled by the manufacturers and distributors in more than simply accessibility to the products; discounts that we have previously been offered are being withdrawn on a daily basis as both Canon and Nikon struggle to recover from the earthquake and tsunami. In addition, with projected business being down for the foreseeable future, the ability of retailers to absorb the increased prices of Japanese imports will be severely reduced.
Many products are not purchased directly from the manufacturers, but from distributors eg Nikon, Inc. (USA). Orders in process that retailers would have been expecting to be filled by incoming shipments, will be charged at the increased rates set by the manufacturer / distributor, not those rates which were effective when those orders were placed - even if the retailer honors the price of back-orders to customers.

Unfortunately, the Japanese Yen is at an all time high against the dollar (as it was following the Kobe earthquake in 1995), as Japanese businesses withdraw funds from overseas markets, thus increasing the cost of everything imported from Japan, and as this chart indicates: http://finance.yahoo.com/echarts?s=u...urce=undefined the US Dollar is becoming weaker mainly due to the Federal Reserve's QE2, which is devaluing the currency.

Retailers' overheads and running costs are fixed (unless employees are laid off). With projected business being down for the foreseeable future, the ability of retailers to absorb the increased prices of Japanese imports will be severely reduced.

The source of the funds used to purchase stock can have a huge impact, which is the main reason why MAP agreements are so very powerful.
The financial agreements between retailers and the manufacturers / distributors are complicated; it isn’t a clear case that all the items on our shelves or in transit to us are necessarily owned outright by us at the point of sale to the customer.

I hope this sheds some light on the current price instability, but more than this I cannot say.

 

[Drake]

Well, I suppose it has also something to do with the market. Modern markets are getting more and more prone to speculation. After the earthquake in Japan people expect Japanese manufacturers to have problems with supplying their goods, and to raise their prices (also because of the JPY/USD exchange rates). So we all go to the stores and buy hoping we get our stuff before the stores run out of supplies and the prices are too high. This way we create more demand than usual, which with the supply being the same, or lower than usual, leads to further price increases. That's the power of speculation which is present on all markets today, not just on financial ones.

 

[Taiowl]

I checked the prices at Canon's website (USA). The prices for all camera remain the same. I visited Hong Kong just 2 weeks ago. There was no price hike. I called Canon (in the US). The sale representative indicated that they have sufficient supplied. I truly do not like "greedy" merchants such as Adorama that try to take advantage of Canon's loyal users.

 

[HelenOster]

I checked the prices at Canon's website (USA). The prices for all camera remain the same. I visited Hong Kong just 2 weeks ago. There was no price hike. I called Canon (in the US). The sale representative indicated that they have sufficient supplied. I truly do not like "greedy" merchants such as Adorama that try to take advantage of Canon's loyal users.

I can only assume that you didn't read my posting, above which explains the position and restrictions currently affecting US retailers.

It is well known that under normal conditions if a consumer finds a price for photographic equipment from a retailer in the US which is significantly less than Adorama (or, I believe, B&H), then there may be cause for concerns.