The pricing for resale Canon equipment

[hori]

How do one determine the resale price of a Canon camera body, lens, speedlite, etc?

After some buying and selling on clubsnap B&S section for 4 years, I noticed that the following "criteria" seem to more or less determine the resale value.

- item condition (cosmetic appearance, shutter counts, fungus presence, etc)
- age of item + number of current successors (e.g. a 30D has two successors)
- Is it still in production? (linked to previous)
- any warranty left
- any competing sellers

A couple of months ago, I bought a speedlite from an expatriate. He was selling lower than most of the current sellers (15-50% lower) and when I got the speedlite, it was almost as good as new. Before concluding the sale, I told him that the other sellers are selling higher than him and asked him why did he sell at such a low price. He said he bought the speedlite a year ago and so priced it about 50%. His depreciation value was 50% per year (of course there is a base price of sorts, if not it will be close to zero after 5-10 years!)

Another recent buyer (Brad) of my 10D mused about how some buyers would purchase a second-hand 50mm F1.8 lens for $100 when a brand-new one costs $130. He was puzzled at the behaviour of buyers in the resale market. He thinks that the reason for purchasing resale is to get a really good price for a old piece of equipment (Maybe if the 50mm was selling at $50, he would consider that a good buy)

So what do you think is the depreciation value of Canon equipment (seems to be much higher than Nikon's)? 50%, 20% or 10%? And do you agree with Brad's comments?

 

[Rashkae]

I think this post would belong more in the canon section rather than "General".

 

[maverickliew]

Maybe he is thinking along the line as a general discussion with no disrespect to other brands.

For the price of used equipments, i guess it is like demand/supply ecosystem going everywhere.
This do not apply just here but oversea as well. Generally 10-20 percent of difference from the retail price should there be warranty left. More if it is out of warranty. Less if the piece of equipment is rare or out of stock everywhere.

Bottomline, buyers/sellers should be aware of the market and adjust the price accordingly or buy it from somewhere else more worthy.

 

[hori]

Hi Maverick,

You got my post correctly. As I am more familiar with Canon equipment, I don't want to pretend to be an expert in Nikon, Sony, Olympus resale market expert. I'm of the opinion, that the resale price is a little overvalued for Canon products (i.e. market price is slightly over-valued).

I think even with warranty left, it should be a higher percentage of difference (perhaps 20-30%). Perhaps again, if it is a high-value item such as a $2k lens with 10 months warranty left, a 10% discount would be quite good.

 

[tjhan]

Indeed, I can buy a 2nd hand lens and still sell it after a few months or a year, for the same or slightly less than that of what I got it for.

The mentality of 2nd hand buyers are strange for only certain lenses like 50 mm f1.8.

 

[maverickliew]

Hi Maverick,

You got my post correctly. As I am more familiar with Canon equipment, I don't want to pretend to be an expert in Nikon, Sony, Olympus resale market expert. I'm of the opinion, that the resale price is a little overvalued for Canon products (i.e. market price is slightly over-valued).

I think even with warranty left, it should be a higher percentage of difference (perhaps 20-30%). Perhaps again, if it is a high-value item such as a $2k lens with 10 months warranty left, a 10% discount would be quite good.

Glad i understood where are you coming from.
Personal thought: stated value from most of the deal in B/S are "overvalued" somehow (in buyer's context) while the seller is trying to minimize losses. "Safe practice" is to leave the price a little higher for bargaining margin (thinking from the point of view in a seller's shoe).

It is a known fact that most if not all buyers will tend to bargain (nothing wrong actually, i mean who don't?) but some are really persistent in getting the value down to rock bottom. This situation happens a lot especially to those who have stated honestly in their sale "need money urgently". Personally, i feel for those who have such encounter.

So going back to the same line as i have mentioned earlier. Buyer/seller should know where they stand and maybe reach a compromise at some point for ease of deal and a good experience. Personally, i do sell my used items at a "way below market value" price. To me, it is used at the end of the day. Set a lower target price and let the thing go fast and enjoy the money back while the buyer can enjoy the item purchased. If it is an honest deal, i guess the deal will be closed happily.

I hope my words do not offend anyone in any way. If so, please accept my sincere apologies...