New lenses will be priced significantly higher in USA from now on

[TokyoDekopon]

A friend of mine working at Canon MJ confirmed me that from now on, new lenses will be priced higher in US like 24-70L II since Canon decided to reflect the exchange rate on their RR price in USA.
In the last 10 years, US Dollar has lost about 40% of its value against Yen (1$ was worth 125 yen in 2002 when 24-70L Mark I was released, today 1$ is worth only 75 yen. In Japan, RR price of 24-70L Mark I and Mark II are almost the same) and they have been trying not to reflect the exchange rate on the American prices. However, their loss from the devalued US dollar was way too much in the last 3 years that they finally decided to reflect the exchange rate on the American prices.

He thinks this new pricing scheme for the American market could raise prices of used lenses in US, maybe even globally. :'(

 

[mathino]

I did a little calculation with your numbers and this is what I've found out:

230 000 yen = 1840 USD (if you assume 1 USD = 125 yen - 2002 exchange ratio)
230 000 yen = 2987 USD (if you use todays ratio between USD and yen)

On the USA Canon page there is MSRP price 2299 USD (which equals to 177 023 with todays ratio). So actually USA price is lower then Japan price for 24-70 II.

So first thing is that when this new lens will be available (in stock, not pre-orders) price will be actually lower then 2299 USD. Also it is only MSRP. My guess is that around summer time price will be +- 1800 USD from resellers.



...and a little thought an the end. If you check japanese page you will find out that MSRPs are:

EF 24-70 f/2.8L - 220 000 yen
EF 24-70 f/2.8L II - 230 000 yen

So the difference between them is only 10 000 yen = 129.87 USD (todays ratio). Current price for Mk I is 1 369 USD (B&H), 1399 (Adorama) - ofc without rabates that are actually on Canon stuff.
If my calculations and assumptions are right (let's take 1500 USD as highest price tag for Mk I) then Mk II should be around +-1800 USD (including that this is a new item, new tech, coatings, lens elements and so... also when in full production and available at stores and resellers). I think we should wait, let's say until summer, and the price will drop. Just my 0.02 cents to discussion.

 

[Maui5150]

Yup, and expect the prices to continue to go up with another round of Quantitative Easing on the horizon (i.e the Fed printing more money)

My grocery bill has more than doubled in the last 5 years.

Gasoline?

Cable Bill?

This is what you get with a devalued dollar.

 

[Caps18]

Yup, and expect the prices to continue to go up with another round of Quantitative Easing on the horizon (i.e the Fed printing more money)

My grocery bill has more than doubled in the last 5 years.

Gasoline?

Cable Bill?

This is what you get with a devalued dollar.

And you also get a higher stock market, and people aren't rioting because their 401k's aren't high enough to retire on. Even though, you aren't going to be able to afford a $40,000 new car that used to be $20,000.

You also get people working past 65 instead of training the younger generation and lowering their unemployment rate.

That is why I am buying lenses and camera gear. There might be some improvements in the future, but sharp pictures will still be sharp 20 years from now.

 

[AprilForever]

Yup, and expect the prices to continue to go up with another round of Quantitative Easing on the horizon (i.e the Fed printing more money)

My grocery bill has more than doubled in the last 5 years.

Gasoline?

Cable Bill?

This is what you get with a devalued dollar.

And you also get a higher stock market, and people aren't rioting because their 401k's aren't high enough to retire on. Even though, you aren't going to be able to afford a $40,000 new car that used to be $20,000.

You also get people working past 65 instead of training the younger generation and lowering their unemployment rate.

That is why I am buying lenses and camera gear. There might be some improvements in the future, but sharp pictures will still be sharp 20 years from now.

I echo the doubling of the bills. Even restaurants are charging nearly double what they used to cost in 2000.

Gentlemen, the time to buy and hoard Canon lenses is now!

 

[K-amps]

When we say loss, do we mean a net loss per bottom line, or loss on profit? I mean if they consider raising prices, they have probably also considered the price elasticity and lower demand for the lenses. In which case they don't even meet fixed cost coverage unless the lens sells amazingly well in the non-US markets.

So does this mean that the new bodies will also be pricier? That would be a bummer for whoever is wanting the 5D3 for $2700... :-\

 

[Tonttu]

Get this:

Official MSRP in Finland 2803eur

2,803.00 EUR = 3,716.33 USD

You guys in US are lucky ba***rds

 

[liberace]

You guys in America are just being sold a line. The 24-70mm II is setting new pricing records EVERYWHERE. Just look at the RRP of the lens in the UK and Europe and tell me that your own price increase is simply due to differences in the Yen and US Dollar.

 

[pdirestajr]

These top MSRP prices for pre-orders are for the crazy people that "need" this lens first. The price will eventually drop and settle in once it is available.

 

[mathino]

Get this:

Official MSRP in Finland 2803eur

2,803.00 EUR = 3,716.33 USD

You guys in US are lucky ba***rds

Yes they are, as I stated somewhere in this forum. Even if the price will drop there is a common equation that US price = price in Europe in Euro (something like 1:1 relation due to taxes, import etc).

 

[mathino]

These top MSRP prices for pre-orders are for the crazy people that "need" this lens first. The price will eventually drop and settle in once it is available.

It's exactly what I stated in my first comment/reply. Price will drop once these lenses become "in stock" and available at stores.

 

[noodles]

The question is: until what price it will drop? I see a price of 2570 euro at a camerashop in the Netherlands.
So let's say it will drop 300 to 400 euro (I think that's a big drop) the 24-70 will still be sold for 2100+ euro. That's a big difference compared to the current 24-70 selling for 1075 euro.
So, yes, maybe the new 24-70 is a lens for those that make a living with photography or the one that has enough money

What options?
- Look for an alternative Canon lens
- continue to save money for this lens
- look for alternatives like Sigma and Tamron
- be happy with what you have