Used Pricing

[Trever1t]

I am looking on Craigslist and it seems that lenses don't depreciate in value too much...people are asking very close to "new" pricing for their gear, some are asking for more than what can be had new from Amazon!

I'm looking at a Tamaron 90mm f/2.8 SP AF Di Macro, asking price is $400, my offer $300.....should I offer more?


What's a standard percent of depreciation? I'd think for anything to keep a 75% value is pretty darn amazing!

 

[Robin Usagani]

Trever, let me show you my little trick to know how much things should cost.

Go to ebay, log in, do an advanced search for the exact product and check "completed items only".

Now use the average price and reduce it a bit because the seller doesnt have to pay for shipping, ebay fee, and paypal fee.

 

[Trever1t]

great idea! Thanks!

 

[Big Mike]

Lenses, especially good quality ones, hold their value very well.

Probably because they are still just as useful as brand new lenses, and also because there are millions of 'photographers' who will bend over backwards to save a few bucks while still fueling their addiction to photo gear.

If you can take care of your gear, and are savvy at the whole buy & sell thing, you could probably 'rent' lenses for next to nothing....buying (new or used) and then selling them later, for close to what you paid for them.

 

[Trever1t]

Yeah, I understand but personally for me, I'd rather spend the additional 25% and buy new just for the POM of warranty. Used needs to take into consideration there's no bringing it back if it malfunctions, eh?

Ebay has that Tam 90 selling used at $300 or less and this seller didn't want to accept my offer

 

[Robin Usagani]

yup.. thats how it is. Checking local CL is part of my rituals everyday. Youll see one pop up later.

 

[Big Mike]

Whenever I check my local listings, I always see some funny things. Some people seem to think that a 15 year old (film) Rebel, with a cheap lens or two, is worth $200-$400 dollars. Or maybe their dads old AE-1, with three cheap lenses and an off-brand flash is worth $500.

Most things do depreciate, and once their technology becomes mostly obsolete, they either become junk or, if your lucky, collector's items....but it's mostly cheap junk.

 

[Overread]

I suspect many of those high prices on old film gear are the result of people taking the price they paid for it new and then deducting it down to a percentage of that price to reflect its used status. The problem is that these people don't check the current market and the depreciation on film camera gear since digital took over is shockingly big.

 

[Big Mike]

Yes, that's certainly what's going on...and often, I think they are only estimating the original value.

I like to hit up a lot of garage sales in the summer (nobody has them in the winter here)...and it's fairly easy to tell when people 'just don't get it'. They list something at 75% of what they paid for it, when actually, they'd be lucky to get 25% of what they paid for it.

 

[KmH]

.....If you can take care of your gear, and are savvy at the whole buy & sell thing, you could probably 'rent' lenses for next to nothing....buying (new or used) and then selling them later, for close to what you paid for them.

Yep.

Keep a close eye on the used market and be ready to jump on an item in good condition that is priced below market value.

If you buy used gear, sometimes you can sell it for more than you paid for it.

 

[djacobox372]

CL prices for electronics are nearly always inflated. A completed items search on ebay will tell you what something is SELLING for, not just what they're asking for.

$250 is a good price for that lens, and I wouldn't pay more then $300.

 

[Trever1t]

agreed!

 

[Sportsphotoguy]

I say, don't offer more.

My entire setup comes from Craigslist. Photography is expensive enough as it is, but it doesn't have to be. With this economy, plenty of people are either letting their stuff go on CL due to financial hardship or they lose interest in photography. Those are the ads you want to look at and ignore the rest. I agree with cross-referencing on ebay and practice that myself.