Advice on Selling 1D Mark IV (unusual situation)

[TexPhoto]

I just bought a nice low shutter count (6500) 1D Mark IV for $3200. I think you might have trouble selling for more than $4000. B&H is selling them for $5000, but you are not B&H. You might do better than $4000, but enough to justify the effort/risk? What is the $ value of your time?

He's an idea: Buy 1 and.... take photos with it.

 

[expatinasia]

This part of the story is enough to stop me. What kind of reputable dealer with many outlets doesn't know how to price expensive merchandise and stays in business?

It has been in business for years, and it is profitable. If you want my opinion they are using the exchange rate that they bought them at to price them today. They are also in a market where perhaps they over purchased the 1D Mark IV because they are not the only reputable company that has them in stock. New and second hand.

I just bought a nice low shutter count (6500) 1D Mark IV for $3200. I think you might have trouble selling for more than $4000. B&H is selling them for $5000, but you are not B&H. You might do better than $4000, but enough to justify the effort/risk? What is the $ value of your time?

Thanks for your reply. As I mentioned previously, I am not looking to sell to the US, as I will be travelling to the UK for work, but most importantly from my research I discovered that they are much more expensive than in the US. I believe new they are around £ 3,600 or US$ 5,600 and nobody - or very few - have stock.

He's an idea: Buy 1 and.... take photos with it.

That's very clever, well done. Here's a sweet.

 

[bdunbar79]

I'm wondering if you lower the price slightly, they may go much quicker. There is a market out there who wants a fast 1D body but don't want to go all the way to the 1D X. In the U.S. right now, used are from $4000-$4500 and new $5000-$5100. In UK I'm sure higher. I think you can make a lot with the 1DX being priced where it is and how good the 1D Mark IV is. Good luck to you.

 

[BobSanderson]

It has been in business for years, and it is profitable. If you want my opinion they are using the exchange rate that they bought them at to price them today. They are also in a market where perhaps they over purchased the 1D Mark IV because they are not the only reputable company that has them in stock. New and second hand.

That sounds like a new story...

 

[expatinasia]

I'm wondering if you lower the price slightly, they may go much quicker. There is a market out there who wants a fast 1D body but don't want to go all the way to the 1D X. In the U.S. right now, used are from $4000-$4500 and new $5000-$5100. In UK I'm sure higher. I think you can make a lot with the 1DX being priced where it is and how good the 1D Mark IV is. Good luck to you.

Thanks, I appreciate your feedback.

I haven't actually said how much I am selling them for, I have only said exactly how much I am buying them for and the only reason for that is because I want complete transparency as I will be giving the person that buys one the receipt so they can get the full warranty without any difficulty.

I can understand the doubts of some but this is not my business, I just saw an opportunity. I will be in the UK to cover some pretty major events and will have at least one or two cameras with me. If I leave them in the UK when I return to Asia then fine, I can just get a new one if needed.

Another reason I prefer the UK (apart from the higher price I can sell them for) is I would very much prefer to hand deliver. Like I say, I want total transparency, I would prefer (if at all possible) the person with the money to see them, make sure they work, check the serial number with Canon (which I may be able to do before I even buy them) and be happy with it. I do not want any surprises. This is not going to be a regular busines venture as I am hardly ever in the UK anyway, but I do want the buyer to be 100% happy.

Then on the other hand, if I do not sell any, I don't care, I won't have lost anything apart from the potential for profit. Just seems a shame that I cannot share my good fortune of tumbling on these 1d Mark IVs with someone who might want one at a great price.

 

[TexPhoto]

Thanks for your reply. As I mentioned previously, I am not looking to sell to the US, as I will be travelling to the UK for work, but most importantly from my research I discovered that they are much more expensive than in the US. I believe new they are around £ 3,600 or US$ 5,600 and nobody - or very few - have stock.

He's an idea: Buy 1 and.... take photos with it.

That's very clever, well done. Here's a sweet.

And thanks for your reply to me.

$5000 in the U.S + 17.5% Vat = $5875, so at $5600, they are cheaper in the UK, unless you are evading taxes. And that's what your asking here correct? How to illegally avoid the taxes that will kill your profits? You could hand carry two, and mail the boxes to yourself. No VAT on empty boxes as far as I know.

 

[briansquibb]

Thanks for your reply. As I mentioned previously, I am not looking to sell to the US, as I will be travelling to the UK for work, but most importantly from my research I discovered that they are much more expensive than in the US. I believe new they are around £ 3,600 or US$ 5,600 and nobody - or very few - have stock.

He's an idea: Buy 1 and.... take photos with it.

That's very clever, well done. Here's a sweet.

And thanks for your reply to me.

$5000 in the U.S + 17.5% Vat = $5875, so at $5600, they are cheaper in the UK, unless you are evading taxes. And that's what your asking here correct? How to illegally avoid the taxes that will kill your profits? You could hand carry two, and mail the boxes to yourself. No VAT on empty boxes as far as I know.

Just for the record - VAT is 20%

 

[expatinasia]

$5000 in the U.S + 17.5% Vat = $5875, so at $5600, they are cheaper in the UK, unless you are evading taxes. And that's what your asking here correct? How to illegally avoid the taxes that will kill your profits? You could hand carry two, and mail the boxes to yourself. No VAT on empty boxes as far as I know.

Actually no. I do not want to carry the box, all the packaging etc., because to be frank it is far easier to carry a camera in a camera bag. Far less cumbersome, and I can carry it on board so I make sure someone does not throw it around.

As for taxes, I have family there checking with customs and excise. I do not want to do anything illegal. If I wanted to do that, I would have kept my mouth shut, given them to my brother in the UK, he sticks them on ebay or wherever, and nobody would be any the wiser.

Like I said before, I know there is very little, to no stock in the UK, and the prices there are about GBP 1,000 more than I can buy them for here so I thought I would give this community a heads up.

Once I have finished my work in the UK I will come back to where I now live, and maybe I will post the name of the shop, etc so whoever is interested can spend a fortune (and a couple of days) flying here and back to pick one up for him or herself.

 

[GuyF]

Expat,

Didn't you know the road to hell is paved with good intentions?

Guy.

 

[smithy]

Just for the record - VAT is 20%

Yikes you're right. As of January 2011 it went from 17.5% to 20%. I visited the UK last year and didn't even notice! Most things are still cheap there though (well, compared with my country).

 

[tt]

Import Duty etc can be high. Might be worth asking some of the folks who bought via Digital Rev - it seems a steal, but they don't include Customs & Excise, VAT, handling charges etc.

The penalties for coming through customs not declaring could be high, wiping out any chance of profit (and flagging you on future trips). Also - for Canon - aren't the warranties region specific? I looked at Gibraltar import, but in the end the tax cost after declaring, and the issue of a non-Europe warranty ruled it out.

 

[nda]

I just bought a nice low shutter count (6500) 1D Mark IV for $3200. I think you might have trouble selling for more than $4000. B&H is selling them for $5000, but you are not B&H. You might do better than $4000, but enough to justify the effort/risk? What is the $ value of your time?

He's an idea: Buy 1 and.... take photos with it.

I also just bought one (30000) shutter count cosmetically perfect for $3200, I don't think I would spend $4000+ especially now that the 1dx is to be shipped, I would expect a flood of used 1d4 on the used market!!!

 

[Mr Simpleton]

So if you want to do it legal 2600 plus VAT 20%= £3120 Do not think there are any duty on digital cameras. So question is: Can you make a fair profit with this?? I.e. selling for sa £3500??

I bet once the 1Dx start shipping you will see a drop in 1D4 prices... you better hurry up :

 

[kdsand]

Selling two bodies with except able risk sounds reasonable but 10 seems to risky :'(- unless you were all ready experienced in these exchange.

 

[expatinasia]

All good points. Thanks everyone.

 

[iaind]

Current UK prices are £3479 new from Calumet 2yr warranty or £2999 refurbished from Canon Outlet on ebay

 

[Bosman]

I wouldn't touch that with a 10ft pole.

 

[kdsand]

I wouldn't touch that with a 10ft pole.

I would touch just wouldn't buy! ;D

Would hate to see someone loose their shirt on the deal.
Wonder how it turned out.