used equipment prices

[kanuski]

Greetings all,
I am in a position to do more shooting and upgrade some equipment (considering a 5d miii).
My question is how much does equipment depreciate when you drive it off the lot?
Should I expect to pay 80% of retail value to buy a used body?
I think lenses would retain value better so I am assuming they would be close to 90% of retail value in good condition.
What do you think the numbers should be?

 

[kendalltristan]

70 to 80% of new retail is about what I've experienced when shopping for used bodies. Lenses tend to hold their value better as long as they're in excellent condition. From what I've seen, a couple of blemishes on a lens will more greatly impact the price than a couple of blemishes on a boy. Note that this is only my personal experience in the matter.

 

[cynicaster]

I'm a strong proponent of used gear in this hobby, simply due to the fact that retail prices are so high, and there is so much potential to save money on perfectly decent stuff. So, I’ve struggled with this question before.

I’ve concluded there is no one-size-fits-all answer.

Part of the problem is, in this day and age, electronics are almost treated as disposable items. DSLR bodies aren’t nearly as bad in this regard as, say, smartphones and tablets, but they still get hit with the stigma of obsolescence as soon as the “next big thing” hits the market—even if the “superiority” of the latter is largely just a marvel of marketing.

Recently, I saw an ad in the local classifieds where this guy was trying to sell a 10 year-old Canon Rebel-series DSLR body for $350. In his mind, he’s probably thinking “well gee, I have a receipt that proves I paid a grand for this thing, surely it’s worth $350”.

Due to the break-neck pace of technology evolution and advancement, the monetary value of electronics is always in flux and never allowed to settle into some sort of equilibrium where it becomes clear that X dollars is good for Y functionality. This is further complicated by the fact that different people will attribute different levels of significance to having up-to-the-minute stuff. The end result of it all is that “street value” of slightly older used gear is hard to standardize in the way that you’re asking.

I think the best you can do is learn how to cut through the quick-glance spec sheet ****ery, learn about what really makes a good product a good product, come up with your own “appraisal” system, and make transactions on the used market based on what the stuff is worth to you. Not everybody will agree with you of course, but at least you’ll be able to make informed decisions, regardless of whether you’re buying or selling.

 

[nmoody]

In general the pro or higher end the equipment is the better it keeps its value. This is for name brands, the third party brands typically don't hold their value as much.

The consumer line of equipment varies and isn't as reliable if it will hold its value or not.

 

[Big Mike]

A lot of factors to consider.

For example, the 5DIII is fairly new and hasn't been replaced yet. That will mean that a used one (if you can even find one) will probably command more than a model which as been discontinued / replaced.

And yes, lenses (especially high end ones) will often retain 80-90% of their value....but better deals can still be had for those who know where to look at act fast.

 

[kanuski]

Thanks everyone. I guess there are no easy answers. My problem is that I can see how much people are asking for used equipment but I can't see what it is actually selling for.

 

[CCericola]

I have had luck buying used from rental places like BorrowLenses and LensGiant. You just have to keep going back to look at what they have. For instance, I think it was Lens Giant had a 24-105L for $599. I'm sure it got snatched up.

 

[KmH]

Thanks everyone. I guess there are no easy answers. My problem is that I can see how much people are asking for used equipment but I can't see what it is actually selling for.

Not yet mentioned is seller and buyer motivation.

A seller needing to convert camera gear into cash immediately will need to start with a low asking price, and will likely accept an even lower offer to make that happen.
A seller that has all the time in the world will generally have a higher asking price and a higher selling price.

Sellers that have the original packaging, accessories, manuals, cables, straps, caps, covers, software, photos of the actual item(s) offered, etc often have a leg up on both asking and selling pricing.

 

[David444]

One of the best deals going for the 5DIII @ $2379.33, out of stock right at the moment but keep checking back.

Canon Direct Store- EOS 5D Mark III Body Refurbished

 

[kanuski]

$2379.33 "out of stock":x

Thanks anyway. Refurbished is probably way better than used anyways if I can get it.

Canon USA But there is a Canon Canada site as well, right? Guess what? The Canon Canada store sells pro cameras, the 6D and the 7D. Seriously?
http://estore.canon.ca/eStore/subCategoryHome?&subid=53#19