Does anybody think the 1dx price will come down for the holidays...why?

[RustyTheGeek]

Just don't forget that your plans to sell in the future are still dependent on the camera not getting damaged, stolen or lost in a fire. Don't forget to cover those contingencies.

That's what insurance is for...

Yeah, I knew that was probably coming. Insurance is a given and why I added 'And I assume you have' after that statement. It's all good.

You would be amazed at how often I hear how something wasn't insured because either the insurance was too expensive and lapsed or the policy wasn't reviewed often and it didn't actually cover the loss when the claim was made. Then there is the cost of the deductible. And finally, damage may not be covered at all unless there is a rider on the policy or it's a policy specifically written to cover damage. (Observe premium and deductible rising as I type.) In general, insurance is for large losses, not small ones. Most small repairs or losses are out of pocket because the deductible is too high and the claim will raise the premium anyway. Possible repair on the 1DX could be $400 or $4000. Either way, it will cost $400 - deductible. And that increases the $2000 projected cost at the end when Northstar sells it used. (I probably should have left 'fire' out of the list and then insurance isn't always the best option.)

I wasn't trying to negate his strategy, in fact I applaud his thinking it out that far. I do the same thing. I just wanted to say that that time period between purchase and resale is a big gray area full of risk and possible pitfalls to the outcome. Just like any investment. One must be careful to base a buying decision on the future resale value. I think buying cameras is a lot like buying cars, either new or used. You're buying it to use and eventually you will sell it. Almost like an extended lease or rental except you own the equity. And that is exactly what I think Northstar illustrated with his strategy. The big question is what happens along the way to affect that final cost number at the end. Obviously, it's a rough guess. Here's hoping it becomes a classic collectors' item by then and is worth more than was paid for it!! ;D

 

[RustyTheGeek]

....the only cost is the $2000, and up until a year ago i was spending that amount monthly for my kids in daycare.

BTW, been there, done that!! When it comes to the money side of things, I really envy all those folks with income and no kids. Wow. And that daycare must have been one of those upscale daycare spas I've heard so much about!

Nah, kidding aside, decent daycare/preschool is really expensive. Which is why we would just put 'em in the back yard with chew toys and water. No wait, that wasn't the kids! Ooops. Sometimes I wonder if there's a difference. Oh yeah, I usually don't want to beat disown scream at the dog as much. Did I mention my kids are teenagers now?

 

[Loswr]

@RustyTheGeek - great points!

You would be amazed at how often I hear how something wasn't insured because either the insurance was too expensive and lapsed or the policy wasn't reviewed often and it didn't actually cover the loss when the claim was made. Then there is the cost of the deductible. And finally, damage may not be covered at all unless there is a rider on the policy or it's a policy specifically written to cover damage.

Sadly, I would not be surprised. Many people think their homeowner's or renter's policy will cover their gear - and it will, to a point, and subject to a deductible.

But most insurers offer riders or supplemental policies (e.g. State Farm calls it a 'Personal Articles' policy, can cover camera gear, jewelry, fine art, etc.). Always read the policy! Mine applies worldwide, covers damage, theft, loss, etc., and has no deductible. I pay $7.60 per year per $1000 gear covered.

One other common omission is not notifying your insurer when you get new gear. Usually, a serial number of documentation of purchase is required. For me, I have 30 days from purchase as a 'grace period' when the new item is covered, by then I need to have notified them.

Most small repairs or losses are out of pocket because the deductible is too high and the claim will raise the premium anyway. Possible repair on the 1DX could be $400 or $4000. Either way, it will cost $400 - deductible. And that increases the $2000 projected cost at the end when Northstar sells it used. (I probably should have left 'fire' out of the list and then insurance isn't always the best option.)

As I said, no deductible for me, and in fact from what I've seen here and on other boards about multiple insurers (at least in the US), most such policies have no deductible, at least the personal ones (people who earn $ from photography are generally not eligible for such policies, and would need liability coverage, etc.).

I think the rise of premiums following a claim is a concern, but even more than that, many people don't realize that all such claims are reported to a centralized database (CLUE) that can affect eligibility for coverage in general. Too many camera gear claims, and you may lose your home insurance.

 

[Northstar]

....the only cost is the $2000, and up until a year ago i was spending that amount monthly for my kids in daycare.

BTW, been there, done that!! When it comes to the money side of things, I really envy all those folks with income and no kids. Wow. And that daycare must have been one of those upscale daycare spas I've heard so much about!

Nah, kidding aside, decent daycare/preschool is really expensive. Which is why we would just put 'em in the back yard with chew toys and water. No wait, that wasn't the kids! Ooops. Sometimes I wonder if there's a difference. Oh yeah, I usually don't want to beat disown scream at the dog as much. Did I mention my kids are teenagers now?

years of spending for daycare and other kids expenses loosened up my wallet quite a bit when it comes to my spending attitude....of course it also lessened my wallet quite a bit too.

I'm pretty excited for Friday...I'm expecting the X and the new hero gopro 3 to both arrive that day. I have a feeling that the gopro is going to be whole ton of fun.

insurance is a must...thanks for reminding me to call my guy.

 

[Northstar]

+1.....Count me in for that. I have over 10,000 reward points($500ish cash value) with Crutchfield, that will bring the 1D X down to $5500ish. If this is happen, I might believe in Santa Claus all over again

dylan...$5500 would be a damn good price...good luck on that....as I said $5999 wouldn't surprise me.

 

[Northstar]

@RustyTheGeek - great points!

You would be amazed at how often I hear how something wasn't insured because either the insurance was too expensive and lapsed or the policy wasn't reviewed often and it didn't actually cover the loss when the claim was made. Then there is the cost of the deductible. And finally, damage may not be covered at all unless there is a rider on the policy or it's a policy specifically written to cover damage.

Sadly, I would not be surprised. Many people think their homeowner's or renter's policy will cover their gear - and it will, to a point, and subject to a deductible.

But most insurers offer riders or supplemental policies (e.g. State Farm calls it a 'Personal Articles' policy, can cover camera gear, jewelry, fine art, etc.). Always read the policy! Mine applies worldwide, covers damage, theft, loss, etc., and has no deductible. I pay $7.60 per year per $1000 gear covered.

One other common omission is not notifying your insurer when you get new gear. Usually, a serial number of documentation of purchase is required. For me, I have 30 days from purchase as a 'grace period' when the new item is covered, by then I need to have notified them.

Most small repairs or losses are out of pocket because the deductible is too high and the claim will raise the premium anyway. Possible repair on the 1DX could be $400 or $4000. Either way, it will cost $400 - deductible. And that increases the $2000 projected cost at the end when Northstar sells it used. (I probably should have left 'fire' out of the list and then insurance isn't always the best option.)

As I said, no deductible for me, and in fact from what I've seen here and on other boards about multiple insurers (at least in the US), most such policies have no deductible, at least the personal ones (people who earn $ from photography are generally not eligible for such policies, and would need liability coverage, etc.).

I think the rise of premiums following a claim is a concern, but even more than that, many people don't realize that all such claims are reported to a centralized database (CLUE) that can affect eligibility for coverage in general. Too many camera gear claims, and you may lose your home insurance.

neuro...I also use State FArm and I agree...it's very affordable and makes tons of sense. no deductible.

 

[bkorcel]

For a numbers of reasons I suspect (including just being Canon), I would expect the 1DX price to go up or hold steady. Not necessarily due to any internal Canon factors but simply due to currency exchange. If our dollar in the US continues to be devalued, it will take more of them to purchase imported products. the current political extension here should continue to dictate printing more money as a "solution" to ongoing financial crisis.

I would buy now and as one person pointed out, try to use a credit card with price protection. However be careful, any savings you might get from such protection may get lost in interest payments if you use a high interest rate credit card. You need to do the math for you particular situation, particularly if you do not intend to pay off the balance incurred before interest starts stacking up on you.

You can also use a rebate credit card and get some of that back. Even 1% might make up any online discount price offered to move inventory.

 

[Northstar]

Can't wait to hear you got a great deal. Wish you were local, I'd buy you a beer. Have a good day.

Rusty...

I haggled with three of them(online retailers) over the phone but the best deal I could get was a couple 16GB CF SNDisk Extreme pro's.

I'd take you up on that beer...I'm a fellow geek.

 

[RustyTheGeek]

Ditto, we have State Farm too!

That firehose of cash your kids require won't trickle for long, it will likely flow faster soon enough. And as they get older, you will progressively lose more and more of your personal time to them. That's why I shoot boy scouts, school swim meets, choir, church, etc. It's really just a way do enjoy my hobby while I spend time with them. (And hopefully provide others with meaningful pictures while I try to improve my photography with a lot of shooting material.)

Northstar, let me know how the GoPro works for you! Keep in mind it's strength is video, the stills will be only fair at best. I have the Canon D10 and D20 rugged cams and love them for hiking but have considered the GoPro at some point to mount somewhere and get some occasional video. As big and heavy as the 1DX is, just mount the GoPro to the hotshoe and use it to get companion video and sound to go along with your stills. Here's what that tackle sounded like when he broke his clavicle! Ouch! (Ha!)

 

[Mt Spokane Photography]

The thing about the Holidays and December(in the USA) is this....people are in the buying mood/mode for large ticket items. Canon (and retailers) know these well documented buying behaviors/attitudes. A price drop for the 1dx and 5d3 would totally make sense IMO.

Also...December is that month where a business owner or manager might have a little extra money in the budget that can (or must) be spent before year end..."spend it or lose it" happens in business...very common.

You can sometimes negotiate by calling a large dealer (No e-mail, they will not put discounts in writing). Try calling a few who have them in stock.

Mt Spokane...your advice was worth two Sandisk 90mbs 16 gb CF cards....thanks.

Did you check the link I posted??
Now there are 4 dealers that have dropped their price by a few hundred. Down to $6348 or $6445 from PMI, a authorized dealer. Did you call PMI??

http://www.canonpricewatch.com/product/03792/Canon-EOS-1D-X-price.html

 

[RustyTheGeek]

Can't wait to hear you got a great deal. Wish you were local, I'd buy you a beer. Have a good day.

Rusty...

I haggled with three of them(online retailers) over the phone but the best deal I could get was a couple 16GB CF SNDisk Extreme pro's.

I'd take you up on that beer...I'm a fellow geek.

That sounds pretty decent to me! 12 fps is going to have to go somewhere very quickly. Since your 5D3 seems to work well, let me know when you sell it.

BTW, where does 'Northstar' come from? Because FSR I can't get Spaceballs' Bill Pullman out of my head every time I read it! Please tell me you resemble Bill Pullman! Ha, ha! ;D

 

[Jay Khaos]

I think the price of the 5D mkiii was pushed down quicker than it might have been if the D800 did not exist for $500 less (originally anyway) and the high megapixel sensor. The 1dx does not have as clearcut of a rival from Nikon, so I think the price will stay for a while..

 

[dolina]

The 1D4 never went below $5,000 on BH through the life of the product.

 

[jcns]

Like asking if you can afford the monthly payments on Porsche 911.
or
if you have to ask, you can't afford it

 

[Northstar]

Can't wait to hear you got a great deal. Wish you were local, I'd buy you a beer. Have a good day.

Rusty...

I haggled with three of them(online retailers) over the phone but the best deal I could get was a couple 16GB CF SNDisk Extreme pro's.

I'd take you up on that beer...I'm a fellow geek.

That sounds pretty decent to me! 12 fps is going to have to go somewhere very quickly. Since your 5D3 seems to work well, let me know when you sell it.

BTW, where does 'Northstar' come from? Because FSR I can't get Spaceballs' Bill Pullman out of my head every time I read it! Please tell me you resemble Bill Pullman! Ha, ha! ;D

Rusty...."Northstar"...did you ever follow a NHL hockey?

 

[RustyTheGeek]

Like asking if you can afford the monthly payments on Porsche 911.
or
if you have to ask, you can't afford it

Jcns...such an inaccurate post....you must be young and/or lack the wisdom to know that often times the wealthiest people MAKE SURE they know all about the price. Read the book "millionaire next door" and you'll understand what i mean.

I've read it. Now I see why we think alike. Make that two beers I'll buy you. But after that it's your turn!

 

[Northstar]

Like asking if you can afford the monthly payments on Porsche 911.
or
if you have to ask, you can't afford it

Jcns...such an inaccurate post....you must be young and/or lack the wisdom to know that often times the wealthiest people MAKE SURE they know all about the price. Read the book "millionaire next door" and you'll understand what i mean.

I've read it. Now I see why we think alike. Make that two beers I'll buy you. But after that it's your turn!

funny..when we get to six beers just send me a six pack ;D

i hope your next 5d3 performs as good as mine does. i've never sent anything back that i've bought online, how has that gone? do they wait to send the new one until after they receive the returned camera?

 

[Mt Spokane Photography]

The 1D4 never went below $5,000 on BH through the life of the product.

 

[Northstar]

The thing about the Holidays and December(in the USA) is this....people are in the buying mood/mode for large ticket items. Canon (and retailers) know these well documented buying behaviors/attitudes. A price drop for the 1dx and 5d3 would totally make sense IMO.

Also...December is that month where a business owner or manager might have a little extra money in the budget that can (or must) be spent before year end..."spend it or lose it" happens in business...very common.

You can sometimes negotiate by calling a large dealer (No e-mail, they will not put discounts in writing). Try calling a few who have them in stock.

Mt Spokane...your advice was worth two Sandisk 90mbs 16 gb CF cards....thanks.

Did you check the link I posted??
Now there are 4 dealers that have dropped their price by a few hundred. Down to $6348 or $6445 from PMI, a authorized dealer. Did you call PMI??

http://www.canonpricewatch.com/product/03792/Canon-EOS-1D-X-price.html

I only felt comfortable at this price level dealing with the most respected online retailers like Ad, BH..etc. I didn't check PMI.

I appreciate your post though because I wasn't aware of the canonpricewatch website...now i have it saved.

 

[RustyTheGeek]

Like asking if you can afford the monthly payments on Porsche 911.
or
if you have to ask, you can't afford it

Jcns...such an inaccurate post....you must be young and/or lack the wisdom to know that often times the wealthiest people MAKE SURE they know all about the price. Read the book "millionaire next door" and you'll understand what i mean.

I've read it. Now I see why we think alike. Make that two beers I'll buy you. But after that it's your turn!

funny..when we get to six beers just send me a six pack ;D

i hope your next 5d3 performs as good as mine does. i've never sent anything back that i've bought online, how has that gone? do they wait to send the new one until after they receive the returned camera?

I got it through eBay on one of those steal deals from Beach Camera. I've never purchased from Beach before but when I called them directly, their phone rep was extremely helpful, no BS and sent a RMA and FedEx barcode to my email while we spoke. I sent it back that Monday, it arrived there today and he said he would try to get the replacement sent back out to me same day. I had the option of buying another on on Monday and getting a refund when they received the defective one on return but since I paid such a good price, he couldn't do the refund without me losing the difference. So it is just a straight exchange. So I'm halfway through this but so far, they have been as good with it as you could hope/expect. My fingers are still crossed.