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Gear Talk => Canon General => Topic started by: shtarker on January 13, 2013, 11:19:00 AM

Title: refurbished Canon 5d mk iii
Post by: shtarker on January 13, 2013, 11:19:00 AM
I recently purchased a refurbished Canon 5D mk iii from Canon for $22xx.  I received the camera and it has a pin sized hole in the serial number plate that identifies it as a refurbished camera.  So, when I try to resell it, it is obvious that it is a refurb.  How much does this lower the resale value and will I have a harder time reselling?  I still have a week to return it and I am seriously thinking of sending it back and waiting for the price to come down and purchasing new.
Title: Re: refurbished Canon 5d mk iii
Post by: Mt Spokane Photography on January 13, 2013, 12:39:22 PM
Why would you try to conceal that it was a refurb when you go to sell it?  Are you planning to claim you bought it new? 
I'd be much more inclined to buy a camera in its original packageing with a copy of the original purchase receipt, so without that stuff, the resale value will be less, depending on the number of actuations and condition of the camera.
 
 
Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 13, 2013, 01:27:47 PM
I am kind of puzzled why you would think I am trying to sell it as not refurbished.  The box has refurbished stamped on it, so it is kind of hard to hide.  I would not try to conceal it, my concern would be that someone would see the hole and think that there is something wrong with it, making it worth even less.  And when I do sell it, it will probably a few years down the road.  So if it has had no problems in a few years, why would it even make a difference if it was refurbed?  It sounds like the marking is new and not something that they did in the past. 

The original question was "How much does this lower the resale value and will I have a harder time reselling?", not how do I hide that it was refurbed.
Title: Re: refurbished Canon 5d mk iii
Post by: Mt Spokane Photography on January 13, 2013, 03:36:28 PM
Here is the part I read.
"So, when I try to resell it, it is obvious that it is a refurb.  How much does this lower the resale value and will I have a harder time reselling?"
 
Sorry if I mis-intrupreted what you were trying to say.  Don't worry about the hole in the serial number, just expllain its a refurb.
Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 13, 2013, 04:27:41 PM
If I sell it 2 years from now, how much less would one expect to pay (or be willing to pay) for a used refurbished camera vs a used camera?  Knowing that it was refurbished 2 years ago and it has not had a problem since?  I have searched ebay and the web and there are very few hits on used refurbished cameras for sale or have sold.  My guess is since it wasn't marked in the past, it was not an issue.
Title: Re: refurbished Canon 5d mk iii
Post by: Dylan777 on January 13, 2013, 05:08:57 PM
Would you buy a used-salvaged-car? Some people will have no problem buying it. And there are people(like me), would never buy a used-salvaged-item

For resale value, I doubt you will get same value as normal camera.

Title: Re: refurbished Canon 5d mk iii
Post by: nebugeater on January 13, 2013, 06:03:10 PM
My guess is that if you saved say 400 over new retail you would never get less than that same difference on a resell.  My opinion is make the decision based on what you are comfortable with an not the future resale.  IT soulds like that at some leve you are OK with it so keep it.  I know I would have and have had no issue with Referb on things I buy including electronics.

Title: Re: refurbished Canon 5d mk iii
Post by: brad-man on January 13, 2013, 06:23:30 PM
I recently purchased a refurbished Canon 5D mk iii from Canon for $22xx.  I received the camera and it has a pin sized hole in the serial number plate that identifies it as a refurbished camera.  So, when I try to resell it, it is obvious that it is a refurb.  How much does this lower the resale value and will I have a harder time reselling?  I still have a week to return it and I am seriously thinking of sending it back and waiting for the price to come down and purchasing new.


Why are you even thinking of this? If you intended to resell the camera at maximum profit, you lost that chance when you opened the box. You paid at least $600 less than new and you are not satisfied? You could sell the 5D right now for at least what you paid for it. Again, why are you even thinking of this?
Title: Re: refurbished Canon 5d mk iii
Post by: unfocused on January 13, 2013, 06:32:33 PM
You are asking a question that no one can answer.

No one knows what the re-sell value of a 5DIII might be in two-three years, refurbished or otherwise. Based on recent past, DSLR bodies depreciate rapidly once a new model comes out. Will that be the case with the 5DIII? Probably, but it depends on what features the 5DIV has or if you wait until the 5D V to re-sell it.

I don't understand why anyone cares about the re-sell value of their camera bodies. Camera's aren't investments, they are tools. When it's time to replace one, replace it. If you choose to sell the old body, you'll get whatever the market it commanding at the time. If you want to increase the re-sell value at that point, send it in to Canon before you sell it and have them give it a thorough going-over and cleaning.
Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 13, 2013, 07:10:28 PM
Why are you even thinking of this? If you intended to resell the camera at maximum profit, you lost that chance when you opened the box. You paid at least $600 less than new and you are not satisfied? You could sell the 5D right now for at least what you paid for it. Again, why are you even thinking of this?

I'm not thinking about maximum profit, I'm wondering if there is a market if I decide to sell it.  I have about a week to return it, so having last minute second thoughts.  I wasn't expecting the pin hole in the bottom of the camera.  It doesn't affect the operation of the camera, but it says "I'm special" and may cause problems when trying to sell it.  I have read some online articles on Canon factory refurbs and it sounds like the odds are very good that there never was any sort of problem with it and if there was, odds are that Canon has fixed it.  A lot of people have bought refurbished and never had a problem.

But if something happens and I need money now or in the future and I am unable to sell it, I've just thrown away $2200.  I keep going back and forth on returning.  Especially when I see comments like "there are people(like me), would never buy a used-salvaged-item".
Title: Re: refurbished Canon 5d mk iii
Post by: Stephen Melvin on January 13, 2013, 07:19:43 PM
I'm not thinking about maximum profit, I'm wondering if there is a market if I decide to sell it.  I have about a week to return it, so having last minute second thoughts.  I wasn't expecting the pin hole in the bottom of the camera.  It doesn't affect the operation of the camera, but it says "I'm special" and may cause problems when trying to sell it.  I have read some online articles on Canon factory refurbs and it sounds like the odds are very good that there never was any sort of problem with it and if there was, odds are that Canon has fixed it.  A lot of people have bought refurbished and never had a problem.

But if something happens and I need money now or in the future and I am unable to sell it, I've just thrown away $2200.  I keep going back and forth on returning.  Especially when I see comments like "there are people(like me), would never buy a used-salvaged-item".

You bought a $3,500 camera for $2,200 and you're worried about the effect your $1,300 savings will have on the camera's resale value? Is that what you're saying?
Title: Re: refurbished Canon 5d mk iii
Post by: Mt Spokane Photography on January 13, 2013, 07:25:42 PM
I've sold a refurb 7D and a refurb 5D MK II.  The sales price was about the same.  The number of actuations and the condition of the camera are a buyers first concern.  A refurb camera is not salvage.  Most of them were demos or new returns, and have very low actuations.  Check the actuations on your camera, its likely under 1K.
Salvage cars are ones that have been totalled, from a accident or even a flood, and have a high likelyhood of having serious problems as opposed to a ordinary used car.
Title: Re: refurbished Canon 5d mk iii
Post by: DBCdp on January 13, 2013, 07:32:11 PM
I don't understand why you're worried about it at this point. You decided that a refurb was worth the savings when you placed the order. You had already decided you needed this level of camera when you went about spending that $2200.  Use it for what you bought it for and don't look back!

Depreciation is an ever-present fact of business. Regardless of new/used/refurbished...you're going to use the product for a period of time, then move it on towards the next product. It's very basic accounting principle in play, and once you buy the product you've accepted the facts.

Second guessing your purchase will do nothing more than keep you discontented. Be happy for the deal you made, take much delight in the product in your hand, and have fun in the use of a top tier camera. If I'd seen one at that price, you might not have had to worry about it!! :)

Has anyone else noticed Amazon selling it new for $2975??
Title: Re: refurbished Canon 5d mk iii
Post by: MacroBug on January 13, 2013, 07:33:05 PM
I purchased a used 5DII in the past year. My considerations were (1) is it at or below below market price (2) excellent condition (3) low actuations (4) 100% positive feedback on Ebay. Nice to haves were original packaging and receipt. I would not have had an issue purchasing a refurb body if the considerations were met. I have purchase refub lenses and P&S and have had no issues at all.
Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 13, 2013, 07:35:03 PM
You bought a $3,500 camera for $2,200 and you're worried about the effect your $1,300 savings will have on the camera's resale value? Is that what you're saying?

Nope, I'm wondering if I will be able to sell it and how much I actually could get for it when I do. 

On the price side, the camera is occasionally on sale for less than $3500 and you can get it bundled with printers and lenses that you could sell and bring the cost way down (but that is a hassle).  So, I see the price of new as more like $2900.  The refurb is a good deal, but if it has no resale value or resale market does it matter?
Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 13, 2013, 07:38:46 PM
I purchased a used 5DII in the past year. My considerations were (1) is it at or below below market price (2) excellent condition (3) low actuations (4) 100% positive feedback on Ebay. Nice to haves were original packaging and receipt. I would not have had an issue purchasing a refurb body if the considerations were met. I have purchase refub lenses and P&S and have had no issues at all.

Did the 5Dii have a pin hole in the serial number plate on the bottom of the camera?  Just curious, it sounds like this is something new by Canon and if so, wondering why they decided to do it?

Keeping the original receipt is a good idea, I will be sure to keep it if I decide to keep the camera.

Thanks for the tip!!
Title: Re: refurbished Canon 5d mk iii
Post by: brad-man on January 13, 2013, 07:42:50 PM
Why are you even thinking of this? If you intended to resell the camera at maximum profit, you lost that chance when you opened the box. You paid at least $600 less than new and you are not satisfied? You could sell the 5D right now for at least what you paid for it. Again, why are you even thinking of this?

I'm not thinking about maximum profit, I'm wondering if there is a market if I decide to sell it.  I have about a week to return it, so having last minute second thoughts.  I wasn't expecting the pin hole in the bottom of the camera.  It doesn't affect the operation of the camera, but it says "I'm special" and may cause problems when trying to sell it.  I have read some online articles on Canon factory refurbs and it sounds like the odds are very good that there never was any sort of problem with it and if there was, odds are that Canon has fixed it.  A lot of people have bought refurbished and never had a problem.

But if something happens and I need money now or in the future and I am unable to sell it, I've just thrown away $2200.  I keep going back and forth on returning.  Especially when I see comments like "there are people(like me), would never buy a used-salvaged-item".
There are not many people like him :) I happen to be one of those people who would rather buy a refurbished (by Canon) product as opposed to a used or even new one. The Canon techies test the camera/lens to make sure it is within spec. I believe their QC for refurbs is better than it is for new. It may only have a 90 day warranty, but at least it has been thoroughly inspected and brought into spec.

Earlier this year, during one of Canon's refurb sales, I bought an EF-S 15-85mm f/3.5-5.6 IS for my old T2i that I leave in the car. It is truly a great single lens solution for an APS-C camera. It is sharp at all apertures and at all focal lengths. From the reviews of this lens, there are apparently copies of varying quality for this lens. My refurb is perfect, probably because it was gone over by Canon.

Anyway, unless you simply spent more than you wanted to in the heat of the moment and have buyer's remorse, enjoy your camera and don't worry about resale. As was pointed out earlier, bodies (unlike L glass) are not investments. As long as you take care of your new toy, your resale value will never be less than the amount you saved on purchase relative to the going rate for a used 5Dlll. Happy shooting!

Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 13, 2013, 07:46:11 PM
Happy shooting!

Thanks, makes me feel better about the purchase.
Title: Re: refurbished Canon 5d mk iii
Post by: MacroBug on January 13, 2013, 07:50:20 PM
I purchased a used 5DII in the past year. My considerations were (1) is it at or below below market price (2) excellent condition (3) low actuations (4) 100% positive feedback on Ebay. Nice to haves were original packaging and receipt. I would not have had an issue purchasing a refurb body if the considerations were met. I have purchase refub lenses and P&S and have had no issues at all.

Did the 5Dii have a pin hole in the serial number plate on the bottom of the camera?  Just curious, it sounds like this is something new by Canon and if so, wondering why they decided to do it?

Keeping the original receipt is a good idea, I will be sure to keep it if I decide to keep the camera.

Thanks for the tip!!

My camera does not have the pinhole in the serial number plate, and I would not have even known to check it.
Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 13, 2013, 07:52:52 PM
I purchased a used 5DII in the past year. My considerations were (1) is it at or below below market price (2) excellent condition (3) low actuations (4) 100% positive feedback on Ebay. Nice to haves were original packaging and receipt. I would not have had an issue purchasing a refurb body if the considerations were met. I have purchase refub lenses and P&S and have had no issues at all.

Did the 5Dii have a pin hole in the serial number plate on the bottom of the camera?  Just curious, it sounds like this is something new by Canon and if so, wondering why they decided to do it?

Keeping the original receipt is a good idea, I will be sure to keep it if I decide to keep the camera.

Thanks for the tip!!

My camera does not have the pinhole in the serial number plate, and I would not have even known to check it.

Sorry, I thought you said it was ar efurb.  But after reading again, see that you said it was used, not a refurb.
Title: Re: refurbished Canon 5d mk iii
Post by: fonts on January 13, 2013, 08:04:25 PM
Would you buy a used-salvaged-car? Some people will have no problem buying it. And there are people(like me), would never buy a used-salvaged-item

For resale value, I doubt you will get same value as normal camera.

A refurb is not equal to a salvaged vehicle though. It's a certified used car, and in those terms than you wouldn't have any problem selling it, and it would be better in the long run cause you lose less difference from New to Used vs Used to Used...
Title: Re: refurbished Canon 5d mk iii
Post by: fonts on January 13, 2013, 08:17:54 PM
You bought a $3,500 camera for $2,200 and you're worried about the effect your $1,300 savings will have on the camera's resale value? Is that what you're saying?

Nope, I'm wondering if I will be able to sell it and how much I actually could get for it when I do. 

On the price side, the camera is occasionally on sale for less than $3500 and you can get it bundled with printers and lenses that you could sell and bring the cost way down (but that is a hassle).  So, I see the price of new as more like $2900.  The refurb is a good deal, but if it has no resale value or resale market does it matter?


No it doesn't matter. Not trying to be rude, but you saved a lot. It works and you will be able to do great things with it. To answer your question, yes there is a market for it. I would buy a used camera that was reburished. The difference from selling it would be less than buying a New and selling it. So you have a good deal, don't stres out too much, actually don't stress out at all.
Title: Re: refurbished Canon 5d mk iii
Post by: jp121 on January 13, 2013, 09:17:20 PM
I've been led to believe that refurbished is better than new. Because each item has been individually inspected by Canon to be within specified tolerances. As versus, to brand new where only a small percentage of products are examined for quality control.

Please correct me if I'm wrong.

The only downside with refurbished is it may come with a shorter warranty period, which I personally find very odd.
Title: Re: refurbished Canon 5d mk iii
Post by: katwil on January 13, 2013, 10:39:07 PM
I would think the impact on resale value will be slight over time.  A year from now the market value of a used refurbished MK III will probably be very close to that of a used MK III, provided the number of actuations and condition are equal.  However, the market for used, refurbished MK III’s may be thinner, i.e., some folks won’t be willing to buy a refurb.  It sounds like you have a good deal in your hands, so congratulations.  That said, I would use the one-week return period to verify that everything works as it should on the camera- things like light metering, focus-point sharpness, HDR, and whatever other features you plan to use.
Title: Re: refurbished Canon 5d mk iii
Post by: subashseo on January 16, 2013, 12:55:45 AM
Canon is offering some good prices on refurbished DSLR models. Anyone have an experience with Canon refurbished equipment?
Title: Re: refurbished Canon 5d mk iii
Post by: sagittariansrock on January 16, 2013, 01:43:38 AM
I've sold a refurb 7D and a refurb 5D MK II.  The sales price was about the same.  The number of actuations and the condition of the camera are a buyers first concern.  A refurb camera is not salvage.  Most of them were demos or new returns, and have very low actuations.  Check the actuations on your camera, its likely under 1K.
Salvage cars are ones that have been totalled, from a accident or even a flood, and have a high likelyhood of having serious problems as opposed to a ordinary used car.

Don't mean to hijack the thread, but I think I can use some advise from you based on your experience and your 2 previous posts-
I plan to sell my 7D, which was bought new but I don't have the box (I relocated over 2500 miles from Oregon to Texas and boxes weren't a priority) or the receipt (threw it away after the 1 year of Canon warranty was over). The body was bought in October 2011. Can't exactly remember the price but was in the $1400's. I did add a Mack Gold warranty though and I have it up to October 2014.
Now, how do I furnish the proof of actuations? I know it's less than 3000 because of the span in the file name between the first shots and the last ones, but that doesn't mean diddly squat to a prospective buyer.
Secondly, how do I prove it's a non-refurb, US copy? I don't have a lack of pinhole or anything to show, nor do I have the box or receipt (on second thoughts should have bought this online :( ). I do have it registered with Canon but I don't know if it means anything.
Finally, how much do you think I can ask for an unblemished 7D in this condition? I don't want to ask something unreasonable but then I don't want to undersell since I am not particularly desperate.
Any advise from the forum members will be greatly appreciated.
Title: Re: refurbished Canon 5d mk iii
Post by: mingyuansung on January 16, 2013, 02:33:30 AM
I use http://eoscount.com/ (http://eoscount.com/) to get my 7D shutter count. It seems accurate.  And a used 7D right now is around $900 - $1000 depend on your luck.
Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 16, 2013, 08:29:52 AM
I use http://eoscount.com/ (http://eoscount.com/) to get my 7D shutter count. It seems accurate.  And a used 7D right now is around $900 - $1000 depend on your luck.

Just an FYI, eoscount costs almost $2 ($1.80?) per use.
Title: Re: refurbished Canon 5d mk iii
Post by: shtarker on January 16, 2013, 08:35:38 AM
I've sold a refurb 7D and a refurb 5D MK II.  The sales price was about the same.  The number of actuations and the condition of the camera are a buyers first concern.  A refurb camera is not salvage.  Most of them were demos or new returns, and have very low actuations.  Check the actuations on your camera, its likely under 1K.
Salvage cars are ones that have been totalled, from a accident or even a flood, and have a high likelyhood of having serious problems as opposed to a ordinary used car.

Don't mean to hijack the thread, but I think I can use some advise from you based on your experience and your 2 previous posts-
I plan to sell my 7D, which was bought new but I don't have the box (I relocated over 2500 miles from Oregon to Texas and boxes weren't a priority) or the receipt (threw it away after the 1 year of Canon warranty was over). The body was bought in October 2011. Can't exactly remember the price but was in the $1400's. I did add a Mack Gold warranty though and I have it up to October 2014.
Now, how do I furnish the proof of actuations? I know it's less than 3000 because of the span in the file name between the first shots and the last ones, but that doesn't mean diddly squat to a prospective buyer.
Secondly, how do I prove it's a non-refurb, US copy? I don't have a lack of pinhole or anything to show, nor do I have the box or receipt (on second thoughts should have bought this online :( ). I do have it registered with Canon but I don't know if it means anything.
Finally, how much do you think I can ask for an unblemished 7D in this condition? I don't want to ask something unreasonable but then I don't want to undersell since I am not particularly desperate.
Any advise from the forum members will be greatly appreciated.

I recently sold a 50D on ebay.  What seemed to help was a screen capture of eoscount, and a lot of up close pictures of the camera and extras.  I didn't have the original sales receipt, but I did have the box and all items originally included in the box.

I did not set an initial price ($0) and that seemed to attract a lot of attention.  It ended up selling for more than the buy it now price, which I was very happy about.
Title: Re: refurbished Canon 5d mk iii
Post by: emag on January 16, 2013, 09:52:57 AM
Look at it this way - you now have a camera that has been through Canon's QC twice!  Forget those last minute second thoughts; keep, use and enjoy your camera.  I for one have no reservations buying refurb, it fits my wallet quite nicely.  Adorama stands behind refurb quality as evidenced by the warranty period.  I'm a moderately-heeled hobbyist, but much of my astronomy and photo equipment is used or refurb, I've had some of it for decades.  Over the years most of what I no longer have has been donated to my local rescue mission second hand store, my astronomy club for everyone to use and to people I know who can still find use for it even if I can't (not talking 600/4 lens type stuff here, of course).  The only time I think "What will this be worth in the future" is when making investments.
Title: Re: refurbished Canon 5d mk iii
Post by: dadgummit on January 16, 2013, 10:28:37 AM
I sold my refurb 7D to fund a new 5d3.  I got probably about $100 less than an equal non refurb camera.  all in all I came out way ahead. 
Title: Re: refurbished Canon 5d mk iii
Post by: tpatana on January 16, 2013, 11:55:31 AM

A: Don't worry

B: If you live close here, I'll buy it for $22xx
Title: Re: refurbished Canon 5d mk iii
Post by: Mt Spokane Photography on January 16, 2013, 12:02:28 PM
I purchased a used 5DII in the past year. My considerations were (1) is it at or below below market price (2) excellent condition (3) low actuations (4) 100% positive feedback on Ebay. Nice to haves were original packaging and receipt. I would not have had an issue purchasing a refurb body if the considerations were met. I have purchase refub lenses and P&S and have had no issues at all.

Did the 5Dii have a pin hole in the serial number plate on the bottom of the camera?  Just curious, it sounds like this is something new by Canon and if so, wondering why they decided to do it?


Thanks for the tip!!
Canon started marking the serial number of refurbs about 1-1/2 year ago, but not all the refurb stuff I've bought has a defaced serial number.  I suspect that they are more diligent about marking new products like the 5D MK III which only came out last spring, and would still be covered by warranty at least until may or so for those with no bill of sale.
Title: Re: refurbished Canon 5d mk iii
Post by: Midphase on January 16, 2013, 12:33:35 PM
Canon started marking the serial number of refurbs about 1-1/2 year ago, but not all the refurb stuff I've bought has a defaced serial number.

Just for the record, the pinhole we're talking about is really tiny. This is not like someone took a hole-puncher to the bottom of the camera. I'm not sure a pin needle would fit in it...hardly noticeable unless you know what to look for.
Title: Re: refurbished Canon 5d mk iii
Post by: Wildfire on January 17, 2013, 05:37:44 PM
Would you buy a used-salvaged-car? Some people will have no problem buying it. And there are people(like me), would never buy a used-salvaged-item

Depends on who salvaged the vehicle. If it was the original vehicle manufacturer, who salvaged it with authentic OEM parts at the factory and ran it through the same tests as a new vehicle would before hitting the dealer lots then yes, I would buy that car. And I'd be willing to pay pretty much the same price as I would for that car as an actual brand new one, because unlike a brand new one, I know that a problem has been corrected with the refurbished vehicle and no longer needs worrying about whereas the new one may have some yet-to-be-discovered defect.

I sold my refurbished 5D2 for $1600 last month, only ~$65 less than what I paid for it from the Canon Loyalty Program earlier last year.