November 26, 2014, 08:21:50 AM

Author Topic: Loss in Resale Value of 5D Mk3  (Read 10486 times)

Positron

  • Rebel T5i
  • ****
  • Posts: 129
    • View Profile
Re: Loss in Resale Value of 5D Mk3
« Reply #15 on: May 17, 2012, 12:06:50 AM »
Even though I can understand the sentiment of wanting an item you buy to maintain its resale value well, the idea of "selling it next month" voids any such argument.

I get a literal churning feeling in my stomach every time I see someone list a "brand new in box" item that has been removed from the box for pictures. unfocused's point about driving a car off the lot hits the nail on the head. Once you've opened the box, as a seller you should expect, and as a buyer you should probably demand, that the value decreases by about 15-20% immediately. It is at that very moment and no later that the item is "used", and resale value has everything to do with rate of depreciation, and almost nothing to do with its value after being removed from the packaging. The only, only thing for which that is not true is real estate, which is etymologically exactly why it has "real" directly in the name.

When a 5D1 is for sale, it's extremely common to hear potential buyers ask if it's had the mirror fix done. If the answer is yes, they are happy to buy it. NOBODY says "oh, it had the mirror fix, so it was a defective unit, and therefore I won't buy it".

A more extreme example is when people post MacBook Pros for sale on Craigslist, and the post says something like "2009 MBP 15", perfect condition, just needs a new LCD and hard drive and it will be good to go. $750". It sounds like a joke to any reasonable person, which is probably why I see the same posting still up a month later.

I know this was an incredibly roundabout way to say it, but buy the camera you want for yourself, use it well, and when you're ready to sell it, consider what you get for it a bonus. You'll be a lot happier than if you consider whatever you fail to recoup a loss.

canon rumors FORUM

Re: Loss in Resale Value of 5D Mk3
« Reply #15 on: May 17, 2012, 12:06:50 AM »

Richard8971

  • Canon 6D
  • *****
  • Posts: 382
  • "There is no spoon" - Neo
    • View Profile
Re: Loss in Resale Value of 5D Mk3
« Reply #16 on: May 17, 2012, 12:12:35 AM »
Cameras, cars, computers... whatever. Anytime you buy a NEW product as soon as it is released, expect product fixes, recalls and updates. The 5D2 went through changes as well... The fact that Canon is willing to fix it solves the issue. That does not make your fixed 1 series 5D3 worth less than a "current" model.

D
Canon 5D2, 7Dv2.03, 50D, 40D, T1i, XTi...XT (& lenses, flahses), various powershots... You get the idea... I have a problem. :)

Wife shoots Nikon, D7000, D7100, (lenses and flashes)... we constantly tease each other that our cameras are better than each others!

smithy

  • Canon 70D
  • ****
  • Posts: 290
    • View Profile
Re: Loss in Resale Value of 5D Mk3
« Reply #17 on: May 17, 2012, 12:17:30 AM »
Before I purchased the 5D Mark III, I considered purchasing a second hand 1D Mark III.  These had an autofocus issue which Canon fixed early on with a mirror adjustment/replacement.  In the second hand market, the question would always be asked "has the AF been fixed".  The answer was usually "yes" and the potential buyers were 100% satisfied.  The 5D Mark III should be no different.

The difference is that the AF problem on the 1D actually had an impact on sports photography - one of the most common uses for this body.  The 'light leak' issue on the 5D requires such unique shooting circumstances that most people wouldn't encounter the issue under 99.9% of situations.
5D Mark III, 40D, 1V.  Bunch of strobes, lenses and other bits.
They're, their, there, it's, its, too, to, than, then, you're, your.  One lens, two lenses, the lens's aperture.

V8Beast

  • 1D X
  • *******
  • Posts: 1045
    • View Profile
    • Stephen Kim Automotive Photography
Re: Loss in Resale Value of 5D Mk3
« Reply #18 on: May 17, 2012, 12:39:30 AM »
The 'light leak' issue on the 5D requires such unique shooting circumstances that most people wouldn't encounter the issue under 99.9% of situations.

Speak for yourself. I enjoy pushing the creative boundaries of lens-cap-on photography every day. You should try it sometime. Interestingly, although the metering does change on my 5D3 with the lens cap and LCD backlight on, I don't notice any visible change in image exposure with my lens-cap-on shots. Do you think it's because of the 5D3's pathetic dynamic range?

squarebox

  • EOS M2
  • ****
  • Posts: 240
    • View Profile
Re: Loss in Resale Value of 5D Mk3
« Reply #19 on: May 17, 2012, 01:08:56 AM »
I have a better word that describes this: "kyosei". (Japanese for F%$# every last cent from your most loyal customers).

I don't know if you have noticed this, but product in Japan is being price-gouged because of oligopolies, monopolies, and the sheer stupid amount of middle men leading to Japanese products(not just cameras) to being cheaper in the states than in Japan.  Japanese companies are totally screwing people over on product prices is par for the course.   
5Dmk3 - 16-35L - 24-105L - 70-200L F2.8 mk2 - 35L - 50mm 1.4 - 100L - 600xt-rt

briansquibb

  • Guest
Re: Loss in Resale Value of 5D Mk3
« Reply #20 on: May 17, 2012, 01:34:31 AM »

Speak for yourself. I enjoy pushing the creative boundaries of lens-cap-on photography every day. You should try it sometime. Interestingly, although the metering does change on my 5D3 with the lens cap and LCD backlight on, I don't notice any visible change in image exposure with my lens-cap-on shots. Do you think it's because of the 5D3's pathetic dynamic range?


 ;D ;D ;D

Hesham

  • Guest
Re: Loss in Resale Value of 5D Mk3
« Reply #21 on: May 17, 2012, 07:51:06 AM »
Shouldnt Canon be somehow more responsible in this Light Leak issue - even if its not an major issue - they have made it a big enough issue by statements they have issued along with affected serial numbers. New buyers dont seem interested in purchasing any of the 1X or 2X serial models. So we early adopters have been penalized by what something Canon is totally responsible for. If you tried to resell your camera that you bought last month you may have already lost a couple of hundred dollars because of the light leak issue. Apart from setting the price of the new Mk3 out of the reach (esp when compared with the D800) they have now reduced our investment, and dont seem to care.

Strange when I posted about this a month ago when I returned my 5DM3 kit, almost everybody thought my decision is wrong since the light-leak is a non-issue. Now when the new bodies started to ship, when they realized that Canon played it the safe way knowing how "loyal" (I did not want to use an offensive word) canon users. People statrted to feel sorry they did not make the right decision.

I recieved my serial 3 5DM3  a week ago, and even though it is fixed, I am sure I will not used the LCD so often. In otherhand, when i offer it for sale, I will clearly indicate that it is NOT serial 1/2  ;D

canon rumors FORUM

Re: Loss in Resale Value of 5D Mk3
« Reply #21 on: May 17, 2012, 07:51:06 AM »

Jakontil

  • PowerShot G1 X II
  • ***
  • Posts: 35
    • View Profile
Re: Loss in Resale Value of 5D Mk3
« Reply #22 on: May 17, 2012, 07:55:36 AM »
agreed with dsiegel5151

just keep using it if u r a photographer like what i'm doing... dont worry bout its resale value as long as i'm happy

and i dont think i will trade mine so soon either :)
1DX - 16-35 II, 24-70L II - 85L II - 70-200L II

Dylan777

  • Canon EF 400mm f/2.8L IS II
  • *******
  • Posts: 4276
    • View Profile
Re: Loss in Resale Value of 5D Mk3
« Reply #23 on: May 17, 2012, 09:18:57 AM »
Canon acknowledged the 'issue' (I'll stop short of calling it a bona fide problem).  They offered to fix it, for free.  What, you now expect them to refund part of your payment as well?  New buyers here probably care a lot more about 'affected' bodies - even then, a significant number of people indicated that they have no intention of send their camera in for the fix.

Do you have a 5DIII?  If so, are you planning to sell it next month?  Most people will keep a body for a few years.  By then, not many buyers will know or care about it (yes, some will, but it's unlikely to have any impact on selling the camera).

Since you mentioned cars, an industry where recalls happen all the time, do you check if the used car you wish to buy was manufactured before a recall date or afterwards? Or do you simply check if the recall was done or not?

Cameras, cars, computers... whatever. Anytime you buy a NEW product as soon as it is released, expect product fixes, recalls and updates. The 5D2 went through changes as well... The fact that Canon is willing to fix it solves the issue. That does not make your fixed 1 series 5D3 worth less than a "current" model.

D

Totally agreed...I'm 15mins away from Canon Service Center, in Irvine CA. Did I bring my camera down for "light leak issue"?.....NO

I plan to keep my camera until CRs shows me 5D mrk 4 is on the way. By then....I would be more than happy to sell my 5D III around $2000 - $2500. Do you think people would still ask if my 5D III has "light leak issue"?   


Body: 1DX -- 5D III
Zoom: 16-35L f4 IS -- 24-70L II -- 70-200L f2.8 IS II
Prime: 40mm -- 85L II -- 135L -- 200L f2 IS -- 400L f2.8 IS II

PhilDrinkwater

  • Guest
Re: Loss in Resale Value of 5D Mk3
« Reply #24 on: May 17, 2012, 09:52:20 AM »
Do you have a 5DIII?  If so, are you planning to sell it next month?  Most people will keep a body for a few years.  By then, not many buyers will know or care about it (yes, some will, but it's unlikely to have any impact on selling the camera).

Totally. In 6 months no one will even remember.

Harv

  • EOS M2
  • ****
  • Posts: 244
    • View Profile
    • My SmugMug Web Location
Re: Loss in Resale Value of 5D Mk3
« Reply #25 on: May 17, 2012, 10:11:17 AM »
Good Heavens!  Just go take some pictures and stop whining about something that may or may not happen some time in the future.
Looking at life through a 1D4 and a 5D3 plus lots of red rings.

http://www.harveyg.smugmug.com

Maui5150

  • Canon 7D MK II
  • *****
  • Posts: 467
    • View Profile
Re: Loss in Resale Value of 5D Mk3
« Reply #26 on: May 17, 2012, 10:19:12 AM »
Shouldnt Canon be somehow more responsible in this Light Leak issue - even if its not an major issue - they have made it a big enough issue by statements they have issued along with affected serial numbers. New buyers dont seem interested in purchasing any of the 1X or 2X serial models. So we early adopters have been penalized by what something Canon is totally responsible for. If you tried to resell your camera that you bought last month you may have already lost a couple of hundred dollars because of the light leak issue. Apart from setting the price of the new Mk3 out of the reach (esp when compared with the D800) they have now reduced our investment, and dont seem to care.

Its a CAMERA... Not an "Investment"

How many cars have "recalls"?  Do they replace the car?  Give the owners cash and a fix... They do a repair (like what Canon has offered)

Enough said. 

Worry more about being a better photographer and getting the most out of your tools than what the resale value of your camera is 300+ shutter clicks in. 

If you were really "worried" about resale value, you would NEVER buy a newly released product, because it generally will sell for less a year out

awinphoto

  • Canon EF 300mm f/2.8L IS II
  • *******
  • Posts: 2010
    • View Profile
    • AW Photography
Re: Loss in Resale Value of 5D Mk3
« Reply #27 on: May 17, 2012, 10:38:28 AM »
The 'light leak' issue on the 5D requires such unique shooting circumstances that most people wouldn't encounter the issue under 99.9% of situations.

Speak for yourself. I enjoy pushing the creative boundaries of lens-cap-on photography every day. You should try it sometime. Interestingly, although the metering does change on my 5D3 with the lens cap and LCD backlight on, I don't notice any visible change in image exposure with my lens-cap-on shots. Do you think it's because of the 5D3's pathetic dynamic range?

Hahaha....  For me with my lens cap on photography, I like to use the light from my LCD to add a cool accent light on my subject, how about you?  haha It's just a pain that that light doesn't travel far!
Canon 5d III, Canon 24-105L, Canon 17-40L, Canon 70-200 F4L, Canon 100L 2.8, Canon 85 1.8, 430EX 2's and a lot of bumps along the road to get to where I am.

canon rumors FORUM

Re: Loss in Resale Value of 5D Mk3
« Reply #27 on: May 17, 2012, 10:38:28 AM »

awinphoto

  • Canon EF 300mm f/2.8L IS II
  • *******
  • Posts: 2010
    • View Profile
    • AW Photography
Re: Loss in Resale Value of 5D Mk3
« Reply #28 on: May 17, 2012, 10:40:41 AM »
Its a CAMERA... Not an "Investment"

Yep, if you want an investment, buy a house, err.... ummm maybe not now, uhhh nevermind.
Canon 5d III, Canon 24-105L, Canon 17-40L, Canon 70-200 F4L, Canon 100L 2.8, Canon 85 1.8, 430EX 2's and a lot of bumps along the road to get to where I am.

Jamesy

  • 5D Mark III
  • ******
  • Posts: 726
    • View Profile
Re: Loss in Resale Value of 5D Mk3
« Reply #29 on: May 17, 2012, 10:45:11 AM »

Hahaha....  For me with my lens cap on photography, I like to use the light from my LCD to add a cool accent light on my subject, how about you?  haha It's just a pain that that light doesn't travel far!
What WB setting would I use for this? The LCD is kinda amber so I am thinking tungsten might fir the bill  ;)

canon rumors FORUM

Re: Loss in Resale Value of 5D Mk3
« Reply #29 on: May 17, 2012, 10:45:11 AM »