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It was inevitable. Canon USA has officially increased pricing on most cameras and lenses. There will probably be a period of time that some stores may be selling gear at the pre-tariff price increases.
These tariffs are really going to hurt businesses, even the big retailers. We hope that all of this nonsense will end soon.
The end of August is usually the time everyone announces new products heading into Q4, Canon did most of their announcements last in during Q4. Will this affect product launch schedules? There are certain price points people expect, no one wants to see a $3000 EOS R6 Mark III.
The Biggest Increase: Canon EOS R3
The biggest price inrease? The Canon EOS R3 which has gone from $3999 to $5399, which is a crazy increase. We won't pretend to understand the what and why of tariff based price increases.
The refurbishing price for the Canon EOS R3 also saw a big increase, it is now $4859.
It's really too bad, the EOS R3 is a fabulous camera for sub $4000, and it was probably on the path to hitting $3499 before the year ended.
There are reliable dealers on Amazon still selling the Canon EOS R3 at $3999. Who knows how long that will last?
Canon EOS R1 & EOS R5 Mark II
The Canon EOS R1 saw a $500 price increase, which is also fairly hefty. The EOS R5 Mark II is back to its launch price of $4299. We can live with that one, and the accountants will probably figure out some kind of program in the future to bring prices down a bit.
Again, you can still find the both cameras on Amazon for less than the new MSRPs.
Canon USA Trade-in Trade-Up Program
Canon USA will be launching Trade-in Trade-Up Program on July 7, 2025. We don't know the full details of the program, but we're hoping it will be an aggressive approach to pricing.
Tariff Increases Coming
The current tariff on Japan is the standard 10%. However, there is a scheduled increase to 24% coming soon. We don't think that will happen as Japan and the United States are in active negotiations.
However, the tariffs on China may also be affecting these prices increase. There are lots of parts and whatnot that aren't made in Japan.
Again, we won't pretend to understand how it all works once you dig into it. We don't really want to either. It's better to leave this stuff to the experts.
We do wonder if the price increases have been set in preparation incase the increase does happen. Continued price increases is confusing for consumers. We all want to see rebates instead.
If You're In The Market
If you have been saving your pennies for a major camera or lens purchase, now is probably a good time to buy if you can find the old pricing somewhere. Please, don't put yourself into debt beyond your next statement to do so, those credit card interest rates will definitely bring the purchase price up.
This is crippling America in so many way.
My local grocery store has almost zero American produce anymore.
Q: "In your presentation there is a statement about assuming additional tariff of 145% on China...."
A: "Since most of the products we produce in China is for the Chinese market and the amount exported from China to the United States is very small, we expect virtually no impact."
- Canon's most recent financial documents.
In fact, for grey market purchases, the grey market importer is likely paying the 10% (or however much) tariffs on the full retail price of the camera in the source market. Meanwhile, Canon USA pays the same rate on the transfer price (i.e. the price Canon USA buys the camera/lens from Canon HQ, which is lower than full retail) so any pricing advantage will dissipate.
My shop implies, but would not say outright, that Canon FORCES the sale price on them. So old stock means nothing once Canon says the new price is XYZ.
But, I see some companies, Like Milwaukee tools put the prices up a lot on some items, the one I want is made in Germany, I am in Canada, there are no new tariff conditions on that item.
But, they know the consumer is aware of and expecting price increases, so strike while the iron is hot.
The Canon Australia listprice of AUD6699 for the R5ii is the highest that you will pay.
Local resellers have it today for AUD5370-5699. There are no Canon rebates at the moment.
Equivalent to USD3200 ex tax. Can't help but to mention the 5 year warranty as well 🙂
Come to Australia for a holiday if you need some gear!
FYI a lot of the other bodies seem to be on sale at the moment on their refurbished cameras page (the R3 dropped back down to $3299 for example). So if anyone has been thinking about getting a refurbished camera I would look now.