24-70 2.8L price jump? (not MM II)

[ss396]

In March with rebates you could buy the 24-70 MK I for $1299. Non Rebate was $1399 which is still the price which shows on Canons website. B&H now shows $1599. Anyone know whats going on?

 

[cliffwang]

In March with rebates you could buy the 24-70 MK I for $1299. Non Rebate was $1399 which is still the price which shows on Canons website. B&H now shows $1599. Anyone know whats going on?

That makes sense to me. People is not going to buy MK1 because MK2 is coming out in July. If Canon doesn't increase the price, people will feel WOW for the 1K difference. Now Canon make it become $600. Thus, buyers will feel okay to spend 600 to upgrade their MK1 to MK2. How smart Canon marketing is.

 

[Random Orbits]

Lens prices go up over time in the long run. This last December/January had the best prices in years, so that 1300 comparison point was low (trendwise). Plus, Canon is probably conditioning folks to think of the Mark II as a 700 upgrade to the Mark I by pushing the price higher.

http://www.canonpricewatch.com/product/00043/Canon-EF-24-70mm-f2.8L-USM-price.html

If you check out the above link, J&R has it for 1399. It's back-ordered, but it's still 1399.

 

[Cornershot]

Makes it a little easier for anybody that's considering the new Tamron 24-70 VC. Sounds like it's getting some decent reviews and that VC will be nice for video.

 

[infared]

The prices are ABSURD.....and we don't even have the lens that was slated for April. At this point..I just want the lens...I sold my 24-105mm back in April anticipating the release of the II and am so hungry I even looked at the Tamron with IS...which was, of course a big let down....I am going to wait to see some serious reviews on the II and see if it is as spectacular as the 70-200mm f/2.8 IS II....and if so ..I will make the plunge.....but c'mon already!!!!!! LOL!

 

[cpsico]

I think it's great! Now I can sell mine for close to the price I paid for it 3 years ago and get the new one ! I paid 1199

 

[Mt Spokane Photography]

I predicted that when the price of the MK II was announced. Same thing happened with the 70-200mm f/2.8L IS MK I.

 

[nebugeater]

Price is treending up but it seems not many have any stock.

Doesanyone know if Canon plans to continue to make and sell the I version after the II version is actually out like it seems they do with the 70-200 2.8?

 

[ss396]

Adorama has the old MKI , not the new lens on ebay for $2199. Bizarre.

 

[Cptn Rigo]

Wow...

I'm tempted to sell it and buy a nice prime...

 

[Loswr]

Canon USA still lists the 'estimated retail price' as $1399. But street price is determined by supply and demand. Supply is short. The impending discontinuation of the MkI means that soon, the $2300 MkII will be the only 24-70/2.8 available new from Canon. That means demand is high. Low supply + high demand = rising prices. Simple, and as many have pointed out, this is exactly what happened with the 70-200/2.8 IS.

The increases trickle down to the used market, too - only recently, two years after the 70-200 II release and after street price has fallen a bit, are used copies of the MkI coming back down into the range where they were before the MkII was released.