Trying to sell a lens on craigslist and I think I'm being low-balled.

Stilltime · Mar 18, 2009

So I got my rebel kit back in December with the EF-S 18-55mm IS lens. I've since gone on to buy two new lenses, and realized I don't use the kit lens anymore, so why not sell it and put it toward another lens?

So I did a bit of research on the lens and what it goes for used, and this is what I found...

Adorama $124:
http://www.adorama.com/US%20%20%20%20332747.html

B&H, $129.00:
http://www.bhphotovideo.com/c/product/519475-GREY/Canon_2042B002_EF_S_18_55mm_f_3_5_5_6_IS.html

Amazon $114-158:
[ame="http://www.amazon.com/gp/offer-listing/B000V5K3FG/sr=8-1/qid=1237428580/ref=olp_pg_used?ie=UTF8&coliid=&startIndex=0&me=&qid=1237428580&sr=8-1&seller=&colid=&condition=used"]http://www.amazon.com/gp/offer-listing/B000V5K3FG/sr=8-1/qid=1237428580/ref=olp_pg_used?ie=UTF8&coliid=&startIndex=0&me=&qid=1237428580&sr=8-1&seller=&colid=&condition=used[/ame]

So I listed the lens for $100 as "firm" (ie, no padding to take lesser offers). I got an email tonight offering me 80 bucks, and I politely declined citing the sources where I got my asking price from.

This was the response I got:

Sir, you own the lens, that makes it used, anything used is worth half of original price along with being in excellence condition. I have offered you more than half. One bird in the hand is better than two birds in the bush.

For what it's worth, it's less than 3 months old, and is in perfect condition (stored with the caps, in a padded bag.. the whole nine yards). I can provide a reciept and proof of date of purchase.

I don't want to scam anyone, I just want to sell something I don't use and put it toward more equipment that I will use. I thought I did the right thing by researching the resell value of the lens.

Am I missing something here? Since when does a 3 month old canon lens automatically depreciate by 50%? If that's the case, why the hell can't I find my 70-200mm f/2.8L IS USM that's 3 months old for only 700 bucks?

Help a noob out. Is my price too high or what?

Tolyk · Mar 18, 2009

By all accounts your price isn't too high, lenses do NOT depreciate 50% by any stretch of the imagination. 75% maybe, that's pushing it. Pro lenses, in good condition retain about 90% of their value. (On average of course)

Kit lenses are different. Most places package that lens with the Rebel for an addition 50ish dollars. The resellers you found, in all honesty, are asking too much for that. 114 being the highest I'd expect to see that lens for used. Your price of 100 isn't bad though, but don't expect to sell it quick.

kundalini · Mar 18, 2009

I'm not sure on Canon prices and lenses, but as Tolyk said, your price is somewhat reasonable. Now the person sending that response may have been a bit curt, but that is part of the negotiating process. You don't need the lens, he has made an offer.... try to meet somewhere in the middle, if you are willing of course.

Good luck.

Stilltime · Mar 18, 2009

kundalini said:
You don't need the lens, he has made an offer.... try to meet somewhere in the middle, if you are willing of course.

That's the thing. While I don't need it, I'm also not in a hurry to sell it. I was going to put the money "back in the pot" so to speak, so, no hurry.

I already politely declined, but I wanted to make sure I wasn't asking something ridiculous. I think I'll sit on it for a bit and see what happens.

I was more curious about the depreciation factor more than anything else.

Thanx guys!

Tolyk · Mar 18, 2009

I'm also basing my price for that lens off Canadian dollars, I don't know what it is in the US market. Here it's 240ish new. I'm just guessing it's about 170ish US, didn't look it up.

Stilltime · Mar 18, 2009

Close. On the sites I linked above it was about 150 new.

kundalini · Mar 18, 2009

Stilltime said:
I already politely declined,

That's good to know. There's nothing wrong with sticking to your guns, but respect will always be appreciated. (excuse me while I look up the definition of respect again......)

I'm sorta in the same boat trying to come up with a price for a D80, a couple of lenses, a few accessories and still not take a bath with the price. It's a hard business, this camera stuff.

AlexColeman · Mar 18, 2009

I would say drop it to 90, anything over 100 for a kit lens is too much, especially when trying to ell it on such things as craigslist.

Stilltime · Mar 18, 2009

kundalini said:
That's good to know. There's nothing wrong with sticking to your guns, but respect will always be appreciated. (excuse me while I look up the definition of respect again......)

Ha. Craigslist brings out the craxy in people.

blash · Mar 18, 2009

$100 sounds like an average price. B&H and Adorama along with other sites like KEH overprice slightly on used prices because a) people know they're dealing with someone reliable who isn't going to try to scam them and b) overhead that individual sellers don't have to deal with. I think, for cheaper (just in cost, not necessarily quality, since short primes are nice glass) lenses, 70% of whatever the cost of the lens is, new, is a good price if the used lens is in good condition - maybe I'd pay a little more than that if I wanted something sooner than later, or if it was rare or discontinued.

The inherent problem you're going to have with selling a kit lens on Craigslist though, is Craigslist tends to have buyers more on the amateur side of the spectrum - your market for the kit lens will be people who already have (for example) a rebel, and thus probably already own a kit lens.

CW Jones · Mar 18, 2009

I would say stick to it. Camera lenses don't really lose too much value... I would send a message back to him telling him that you are fully aware of what camera lenses sell for and how they do not depreciate to %50 of there value when used. If I could find a XS or XSi body for cheap enough without a lens... I would buy it, unfortunatly no such luck!

Like said above, stick to your guns. You want $100 then keep it at $100 and dont worry about what people try to low-ball it for, either tell them no deal or ignore them like most people do on craigslist haha

anubis404 · Mar 18, 2009

If it was L glass, then maybe it would hold its value that well, however it is a kit lens. Keep in mind that the demand for kit lenses is very low, and that they are cheap, plasticy, and break easily. There are plenty of people trying to rid themselves of their kit lenses because of upgrades, but not many people looking to buy kit lenses (or at least not as many). The only kit lens you're going to get a decent amount of money for is the Nikkor 18-70, but that is only because it is fast, durable, and sharp.

$80 is a good deal. I was surprised that you even were offered that much. I'm not saying you don't deserve more for the lens. I'm saying that in all likelyhood, you're not going to get what you deserve. In this case your potential buyer is right, a bird in that hand is worth two in the bush.

HelenOster · Mar 19, 2009

blash said:
$100 sounds like an average price. B&H and Adorama along with other sites like KEH overprice slightly on used prices because a) people know they're dealing with someone reliable who isn't going to try to scam them and b) overhead that individual sellers don't have to deal with.

FYI - when we buy in lenses, we offer 70% of the book value, to cover departmental overheads, advertising costs etc. We also need to cover the other costs we incur as we provide a pre-paid label for sellers shipping items in for appraisal, and if a seller decides against selling to us, we ship his or her item back at our cost.

In addition, we offer a 90-day guarantee if a product is faulty - as we are unable to field test thoroughly all items that we purchase from customers.

I hope this helps.

Sincerely

Helen Oster
Adorama Camera Customer Service Ambassador

[email protected]
www.adorama.com

Mike_E · Mar 19, 2009

The big retailers also guaranty their wares for a time. Call them up and see what they will give you for your lens.

Chances are that if you wait long enough you'll get your price but a thing is only really worth what someone will pay for it.