USED PRICES

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DougC

DougC

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A friend of mine went to Midwest Camera in Columbus, Ohio and was offered these prices for equipment in excellent condition. One must make a profit but this “offer” is pretty insulting.
I am well aware of the ins and outs of business so no need to try to justify this to me. Just a word of warning to those who are considering trading your equipment to a dealer.

$10 ea. for TC14II and TC17II
$300 for 200-500
$250 for 14-24 f2.8
$250 for 70-200 AF-I
$250 for D810 with battery grip
$300 for D500 with battery grip
$900 for 500PF
 
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I got similar "offers" from both KEH and MPB on some gear I was looking to sell. One offer was $2000 for an absolutely MINT 600mm f4G with accessories (Wimberley foot, LensCoat cover, Zemlin lens cap, drop-in CPL, trunk also in mint condition). Um...no. Similar offers on other lenses. I too understand they need to make money, but I decided I'd rather try to sell it privately, or just keep it!
 
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I think a large part of it is that demand for DSLR cameras and lenses is falling by the day. I'd wager you'd see much better prices if they were selling mirrorless gear. I think these companies know there's going to come a point where DSLR stuff just isn't going to sell anymore. Last time I was at Roberts Camera I was in their used camera warehouse and it's overflowing with DLSR camera and lenses. I think they just don't want any more of them.
 
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Steve said:
I think a large part of it is that demand for DSLR cameras and lenses is falling by the day. I'd wager you'd see much better prices if they were selling mirrorless gear. I think these companies know there's going to come a point where DSLR stuff just isn't going to sell anymore. Last time I was at Roberts Camera I was in their used camera warehouse and it's overflowing with DLSR camera and lenses. I think they just don't want any more of them.
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Yeah, if someone wanted to get started on the wildlife/bird photography hobby and didn't have a lot of money, a DSLR and that generation of lenses would be a good way to go.
 
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Those retailers don't want DSLRs. We are now into third generation MILCs, and what retailers of used equipment are looking for (other than exotic lenses, fad bodies and anything Leica) are second gen MILCs.
 
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Steve said:
I think a large part of it is that demand for DSLR cameras and lenses is falling by the day. I'd wager you'd see much better prices if they were selling mirrorless gear. I think these companies know there's going to come a point where DSLR stuff just isn't going to sell anymore. Last time I was at Roberts Camera I was in their used camera warehouse and it's overflowing with DLSR camera and lenses. I think they just don't want any more of them.
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Understood, but why not simply state the truth up front and say they aren’t interested instead of making what is, to me, an insulting offer. I was in a business that did buying and trading of used items and I would never make lowball offers, just simply stated the market is slow or nonexistent. Lowball offers do nothing but cause bad feelings and ultimately will hurt your business.
 
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DougC said:
Understood, but why not simply state the truth up front and say they aren’t interested instead of making what is, to me, an insulting offer. I was in a business that did buying and trading of used items and I would never make lowball offers, just simply stated the market is slow or nonexistent. Lowball offers do nothing but cause bad feelings and ultimately will hurt your business.
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No idea - maybe they get enough takers that they don't think it's a problem. Who knows? I tend to agree with you though, I think maybe some explanation along with the offer would be nice. They may just not care one way or the other though. Again, who knows?
 
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Nimi said:
Those retailers don't want DSLRs. We are now into third generation MILCs, and what retailers of used equipment are looking for (other than exotic lenses, fad bodies and anything Leica) are second gen MILCs.
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You'd be shocked at the price my dealer quoted for my mint condition Leica 280mm f/4 APO + 1.4x APO Extender. I sold it privately for twice what the dealer offered.
 
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That's the reason that once I decided to go mirrorless, (Dec 2021), I quickly sold all my DSLR gear. I knew DSLR camera and F mount lens prices were going to plummet. I lost a bit of money, but got a LOT more than if I had waited even 6 months. And I sold to private parties since I knew KEH, MPB, etc would not be competitive with making a sale to a private party.

Steve's correct.....a lot of resellers have more used gear than they want to stock. Resellers are offering what they think it is worth to their business. I don't think they are going out of their way to offend potential customers. Many people just aren't aware of what the current valuations are - regardless of what it originally cost.
 
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Used shops don’t give much for big telephotos. It makes sense; they’re expensive, so keeping stock ties up a lot of funds. And look at the long lines of upgraders looking for 800PF’s and the like.

Who’s going to pay a significant portion of new prices for a last gen super tele? There’s only so many people entering the market at once, and there’s lots of entry level options that are cheaper.

Only way to get significant cash back on a used super tele is to sell private party.
 
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Butlerkid said:
That's the reason that once I decided to go mirrorless, (Dec 2021), I quickly sold all my DSLR gear. I knew DSLR camera and F mount lens prices were going to plummet.
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Yeah, definitely. It used to be a truism that professional lenses always held their value. There was a stretch of years where I couldn't really afford to keep a 500 or 600 f4 sitting in my closet most of the year when I only really got use out of it the two weeks in the spring and one week maybe in the fall when I'd go to Yellowstone/Grand Teton, so I would buy a used one and then resell it when I got back. I never lost money and sometimes made money on the lens. When I switched to mirrorless, though, I sold my 1DX, 500 f4L IS and 100-400 VII immediately, though, because I knew the price would tank soon.
 
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DougC said:
Understood, but why not simply state the truth up front and say they aren’t interested instead of making what is, to me, an insulting offer. I was in a business that did buying and trading of used items and I would never make lowball offers, just simply stated the market is slow or nonexistent. Lowball offers do nothing but cause bad feelings and ultimately will hurt your business.
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I don't know... when I look at the offers you listed and the prices you can buy these things for used the offers seem very much in line with what I see retailers paying for used items in different industries. For instance, I had at one time been buying and selling a lot of higher end music equipment and for a synthesize that would sell new for $2500 and used for $2000 I was offered around $800. For an item that would sell used for $500 I may have been offered more like $200. So, seeing for instance a 500pf which are selling in excellent condition used for $1800-$2000 receive an offer of $900 sounds about what I'd expect from dealing with selling to retailers like this. It's always a loss to do so and usually a significant one, but the reason people do it is for the convenience of not having to deal with finding a buyer, sorting out the payment, dealing with the risks involved, etc.
 
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sportmaster said:
Never understood the "insulting" part. If you don't like the offer, just say no.
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I wasn't insulted by my dealer's $500 offer for the Leica 280, I understand the realities of the market and of the dealer's need to make a profit. I just said 'no thanks'. Selling it privately was a bit of a hassle but it netted me more $$$.
 
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nmerc_photos said:
I can't believe anyone sells at these prices, but yet - these businesses are thriving.
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The appearance may be that they are thriving, but what is the reality?

I know two B&M camera shop owners, and both have indicated to me that they feel that they have more used DSLR cameras and commensurate lenses than they'll ever be able to sell for a profit. One said that they will only take in DSLR gear in "sales trades" or if the peice is still in higher demand, or from a long-time customer. One of them also said that they are doing better when selling used film cameras than they are with DSLRs. They both have almost as much "under-counter" sales space devoted to used DSLRs and lenses as they do for everything else. This doesn't include on-aisle open shelf space, though.

Quite often, the gear they've taken in is sold to liquidators, and they get even less for it than they may have paid for it.

That's why I see photo gear as tools, not an investment; or if an investment, one with non-monetary dividends. It's also why I either keep my old gear or give it away to family members or a local school's photo or yearbook club.
 
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Steve said:
No idea - maybe they get enough takers that they don't think it's a problem. Who knows? I tend to agree with you though, I think maybe some explanation along with the offer would be nice. They may just not care one way or the other though. Again, who knows?
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Maybe that would cause more lost customers than the low offers do?

I collected commemorative stamps when I was a teenager. When I tried to sell them years later, the local shop offered me face value minus about 10%. I ended up using almost all of them mailing bills, letters and packages.
 
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Member's gallery
It is striking that new F lenses still sell for 'list price' while used like-new copies can be had for < half the cost. Z lenses OTOH are in a more "normal" range of new vs used pricing. As painful as it is to be hit by the wrong side of F-mount's pricing collapse, the laws of economics and supply/demand remain the cruel masters of this market.

As has been said, it's a great time to enjoy the best of Nikon's F-mount lenses. I still have a 19mm PC and 200mm f/4, and love them. Recently picked up a 105mm f/1.4 and 500mm f/4E, and they are superb. Neither was in my price range a year ago. I'm sure I'll lose $ when selling someday, but I'll enjoy many awesome photo shoots in the meantime!
 
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