Hugely Disappointed In 5D III Price

[Plathora]

Re: Understanding the price increase on the 5DIII

Canon can charge me as much as it wants; that is until the day my lenses start saying 'made in China' on the bottom. I doubt I am alone.

 

[ippikiokami]

http://www.reuters.com/article/2011/03/31/us-toyota-prices-idUSTRE72U75420110331
http://www.forbes.com/sites/greatspeculations/2011/08/12/strong-yen-puts-brakes-on-honda-profits/
http://www.businessweek.com/news/2012-02-05/japan-inc-suppliers-cut-jobs-as-yen-batters-tv-chip-profit.html
http://www.tokyotimes.co.jp/2012/canons-yearly-profit-reduced-by-strong-yen/

To say it didn't factor in at all is probably wrong too.

 

[Meh]

Re: Understanding the price increase on the 5DIII

This is too simpleminded as others have pointed out. Global companies such as Canon have complex finances that aren't subject to simple rules like you showed. For starters, money if fungible, which means that a local dollar (a buck collected in the US) doesn't necessarily have to be repatriated, thereby going through the horrific currency exchange you mention. Canon employs people across the world including the US - maybe that buck is 'kept' on US soil and used 'to pay' US Canon employees. Or maybe it's 'kept' on US soil and used 'to pay' for US goods that are shipped to Japan for Canon's manufacturing, or it is spent on US advertising, or a web presence in the US. Or maybe Japan has lenient tax laws and that buck doesn't need to be converted at all.

Who knows? These are all stupid examples, because the answer you gave is nonsensical. The answer to the price increase is because Canon marketing decided this is the price the market will bear.

I've always like the word "fungible" so +1 for that. You are correct about the complex financial structures of multi-national corporations and the fact that dollars generated in the US do not have to be actually converted back to Yen. However, Canon USA's financial statements are, every quarter, converted to Yen and consolidated with the parent corporation. You are also correct in stating that Canon has set the price based on what they think they can sell it for but unfortunately, you're incorrectly dismissing the exchange rate. While I have agreed with others that is is overly simplistic to attribute the USD price increase solely on the exchange, I firmly believe that Canon set the price in Yen first and then set the price in other currencies possibly deviating from the straight FX conversion to account for market conditions but not by much. They would not have decided to set the price at 283,000 yen and then "set" US price at say $2700 causing an $800 price disparity.

 

[Terry Rogers]

http://www.reuters.com/article/2011/03/31/us-toyota-prices-idUSTRE72U75420110331
http://www.forbes.com/sites/greatspeculations/2011/08/12/strong-yen-puts-brakes-on-honda-profits/
http://www.businessweek.com/news/2012-02-05/japan-inc-suppliers-cut-jobs-as-yen-batters-tv-chip-profit.html
http://www.tokyotimes.co.jp/2012/canons-yearly-profit-reduced-by-strong-yen/

To say it didn't factor in at all is probably wrong too.

I never said it doesn't play a factor at all. It plays a factor into how much profit Canon can make. They price it to maximize whatever profit they do make.

 

[ippikiokami]

http://www.reuters.com/article/2011/03/31/us-toyota-prices-idUSTRE72U75420110331
http://www.forbes.com/sites/greatspeculations/2011/08/12/strong-yen-puts-brakes-on-honda-profits/
http://www.businessweek.com/news/2012-02-05/japan-inc-suppliers-cut-jobs-as-yen-batters-tv-chip-profit.html
http://www.tokyotimes.co.jp/2012/canons-yearly-profit-reduced-by-strong-yen/

To say it didn't factor in at all is probably wrong too.

I never said it doesn't play a factor at all. It plays a factor into how much profit Canon can make. They price it to maximize whatever profit they do make.

My post wasn't aimed at you Terry, but to go along with your example since it plays a factor in how much profit then it is a notable factor especially when the worldwide economy isn't in it's best place right?

 

[Terry Rogers]

http://www.reuters.com/article/2011/03/31/us-toyota-prices-idUSTRE72U75420110331
http://www.forbes.com/sites/greatspeculations/2011/08/12/strong-yen-puts-brakes-on-honda-profits/
http://www.businessweek.com/news/2012-02-05/japan-inc-suppliers-cut-jobs-as-yen-batters-tv-chip-profit.html
http://www.tokyotimes.co.jp/2012/canons-yearly-profit-reduced-by-strong-yen/

To say it didn't factor in at all is probably wrong too.

I never said it doesn't play a factor at all. It plays a factor into how much profit Canon can make. They price it to maximize whatever profit they do make.

My post wasn't aimed at you Terry, but to go along with your example since it plays a factor in how much profit then it is a notable factor especially when the worldwide economy isn't in it's best place right?

Yes, I agree. Though my grasp on worldwide economics is very limited.

 

[x-vision]

If the 5D3 can't maintain the 5D2's enormous sales advantage among videographers, I'll have my new camera about as soon as I can afford it.

Hehe, agree.
Very good analysis overall.

I also think that the 5DIII price will erode because of videographers.
In addition to Canon omitting some key video specs from the 5DIII ('clean' HDMI, 60fps 1080p), there are strong indications that Sony will be announcing their A99 model this fall - an SLT camera with 24mp FF sensor.

Sony's A900 and A850 were not very popular for still photography.
However, if Sony plays their cars well, the A99 might become very popular with videographers.

If the A99 has 'clean' HDMI, 60fps 1080p, and is priced around the $2000 mark, it can easily become the video DSLR of choice for many of those who are now buying the 5DII and (potentially) the 5DIII.

The possibility that a large group of buyers might migrate to the competition will surely prompt Canon to lower the 5DIII price.
My prediction is that the 5DIII price will drop to $2600-2400 next summer and stay at that level for a while.

 

[Mark D5 TEAM II]

I just checked Amazon and the $3500 5D3 is the #2 best-selling digital camera on their list, the only DSLR in the Top 10 . The other DSLRs in the #11-20 range are the Rebels. So $3500 doesn't seem to be an issue for those buying in this category of cameras.

 

[Drama79]

I just checked Amazon and the $3500 5D3 is the #2 best-selling digital camera on their list, the only DSLR in the Top 10 . The other DSLRs in the #11-20 range are the Rebels. So $3500 doesn't seem to be an issue for those buying in this category of cameras.

This.

I've just read 4 pages of amateur economics, rants and screeds, and it all boils down to this: the price is $3500. Because Canon say so, and it isn't shifting at the moment. Given the cameras presales are backed out the yaya at every camera shop, it's the no.1 electrical item on amazon.co.uk (or was last night) and no.2 camera on amazon.com, demand is clearly high, and staying there for the forseeable.

it's almost as if Canon put some research and thought into pricing their products....

 

[noodles]

At this moment: March 06, 2012, 04:10:37 PM
it is a win for the Canon 5D MK II

Canon 5D MK III = 118 votes (39,9%)

Keepers 5D MK II + upgraders to 5D MK II = 127 votes (42,9%)

at some point - when the price of the 5D MKIII will go down (next 6 to 9 months) it will be a win for the 5D MK III
New always wins from old

 

[sphax]

Sorry to ask, I don't know if it has been answered before, but : is there any clear and sure price in euros yet ? Is it really 3499€ jusqt as it is in US $ ? Thanks for the answers.

 

[murdock07]

Sorry to ask, I don't know if it has been answered before, but : is there any clear and sure price in euros yet ? Is it really 3499€ jusqt as it is in US $ ? Thanks for the answers.

Here in Austria its € 3299.- = ~$ 4320.-.

I decided to wait a few month till prices start to drop.

 

[FAU4U]

[size=10pt]My fast read for the Canon 5D Mark III camera... A very big improvement "under the hood" for the Canon 5D brand segment... At $3500 it's a bargain. Several years ago, I bought two Canon's 1Ds3 for $7900 a copy, however this 5D3 is better in every regard... So think of this as a 1/2 price sale, with a smaller foot-print... AND, forget buying the 5D2 for $2200. It would be insane IMHO for someone to spend good Money for a device that is 3 years old, although new in box... Years ago, before digital it may have not made a big difference, as we were then buying Mechanical Devices, shutters, optical viewfinder, film-transport systems, into which we could load the NEW Films... Today we are buying an IMAGER and the Digital Imaging Engines and Post image processing in-camera mini-Computers ... Because of the fast moving technology enhancements, we highly recommend buying only the Latest, Newly Released digital gear... OK, you cannot afford $3500 for the 5D2, fine... Then get the Canon 7D... As its is a higher advanced camera than the 5D2, albeit sub-Full Frame imager design... It too is a wonderful camera.... BTW, we sold all of our Canon gear last year, 2011, some $25k in lenses and cameras... In preparation for 2012 year's new offerings... We do this every 2 to 3 years, to keep up wth the best imaging equipment for our clients. Go to [url=http://www.416-1100.com]http://www.416-1100.com[/url].[/size]

 

[kdsand]

As wisely stated before they will charge what the market will bear and definitely not a penny less. Canon is a business not a fairy godmother.


I know that I am the consumer.
Many people here would hate to see that I negotiate when buying a car or house.

So if I state "The price is wrong Dick!" Will Bob launch through the air & beat the snot out of me?

Perhaps there should also be the topic - Hugely satisfied with the price Canon is charging.

 

[ippikiokami]

As wisely stated before they will charge what the market will bear and definitely not a penny less. Canon is a business not a fairy godmother.


I know that I am the consumer.
Many people here would hate to see that I negotiate when buying a car or house.

So if I state "The price is wrong Dick!" Will Bob launch through the air & beat the snot out of me?

Perhaps there should also be the topic - Hugely satisfied with the price Canon is charging.

I think most people's argument against the initial statement is that... it should be made with some context of what the real life situation is. If you make a statement like that as the main subject line of your post. You should also be ready to back it up no?

 

[kdsand]

As wisely stated before they will charge what the market will bear and definitely not a penny less. Canon is a business not a fairy godmother.


I know that I am the consumer.
Many people here would hate to see that I negotiate when buying a car or house.

So if I state "The price is wrong Dick!" Will Bob launch through the air & beat the snot out of me?

Perhaps there should also be the topic - Hugely satisfied with the price Canon is charging.

I think most people's argument against the initial statement is that... it should be made with some context of what the real life situation is. If you make a statement like that as the main subject line of your post. You should also be ready to back it up no?

Back it up?
Likely it is relative to a persons situation, temperament and even education.

Seeing the statement "I will gladly pay" seems a bit odd.

 

[sphax]

Sorry to ask, I don't know if it has been answered before, but : is there any clear and sure price in euros yet ? Is it really 3499€ jusqt as it is in US $ ? Thanks for the answers.

Here in Austria its € 3299.- = ~$ 4320.-.

I decided to wait a few month till prices start to drop.

It's really insane … I don't care about people who keep telling me that technology moves ahead so fast that I'm forced to invest in the latest shit out here … What I see here is that for the price of the 5D mkIII body I AM GONNA buy a new 5DmkII, a new 24-105F/4L IS and a new 70-200F/2,8 … unbelievable !!

 

[briansquibb]

[size=10pt]My fast read for the Canon 5D Mark III camera... A very big improvement "under the hood" for the Canon 5D brand segment... At $3500 it's a bargain. Several years ago, I bought two Canon's 1Ds3 for $7900 a copy, however this 5D3 is better in every regard... So think of this as a 1/2 price sale, with a smaller foot-print... AND, forget buying the 5D2 for $2200. It would be insane IMHO for someone to spend good Money for a device that is 3 years old, although new in box... Years ago, before digital it may have not made a big difference, as we were then buying Mechanical Devices, shutters, optical viewfinder, film-transport systems, into which we could load the NEW Films... Today we are buying an IMAGER and the Digital Imaging Engines and Post image processing in-camera mini-Computers ... Because of the fast moving technology enhancements, we highly recommend buying only the Latest, Newly Released digital gear... OK, you cannot afford $3500 for the 5D2, fine... Then get the Canon 7D... As its is a higher advanced camera than the 5D2, albeit sub-Full Frame imager design... It too is a wonderful camera.... BTW, we sold all of our Canon gear last year, 2011, some $25k in lenses and cameras... In preparation for 2012 year's new offerings... We do this every 2 to 3 years, to keep up wth the best imaging equipment for our clients. Go to [url=http://www.416-1100.com]http://www.416-1100.com[/url].[/size]

Had a play with one today - looks like a replacement for the 1Ds3, seems to have all the functions plus a bit more. The only thing missing is the weatherproofing - looks like good value to me!!

Also had a play with the 200-400 lens. Rather on the large size!

 

[smirkypants]

Had a play with one today - looks like a replacement for the 1Ds3, seems to have all the functions plus a bit more. The only thing missing is the weatherproofing - looks like good value to me!!

Also had a play with the 200-400 lens. Rather on the large size!

Grand theft. Think about it. Sometimes you just gotta go for the five-finger discount.

 

[briansquibb]

Had a play with one today - looks like a replacement for the 1Ds3, seems to have all the functions plus a bit more. The only thing missing is the weatherproofing - looks like good value to me!!

Also had a play with the 200-400 lens. Rather on the large size!

Grand theft. Think about it. Sometimes you just gotta go for the five-finger discount.

I suppose you have just jumped to Nikon then??