I recently purchased a refurbished Canon 5D mk iii from Canon for $22xx. I received the camera and it has a pin sized hole in the serial number plate that identifies it as a refurbished camera. So, when I try to resell it, it is obvious that it is a refurb. How much does this lower the resale value and will I have a harder time reselling? I still have a week to return it and I am seriously thinking of sending it back and waiting for the price to come down and purchasing new.
refurbished Canon 5d mk iii
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Why would you try to conceal that it was a refurb when you go to sell it? Are you planning to claim you bought it new?
I'd be much more inclined to buy a camera in its original packageing with a copy of the original purchase receipt, so without that stuff, the resale value will be less, depending on the number of actuations and condition of the camera.
I'd be much more inclined to buy a camera in its original packageing with a copy of the original purchase receipt, so without that stuff, the resale value will be less, depending on the number of actuations and condition of the camera.
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I am kind of puzzled why you would think I am trying to sell it as not refurbished. The box has refurbished stamped on it, so it is kind of hard to hide. I would not try to conceal it, my concern would be that someone would see the hole and think that there is something wrong with it, making it worth even less. And when I do sell it, it will probably a few years down the road. So if it has had no problems in a few years, why would it even make a difference if it was refurbed? It sounds like the marking is new and not something that they did in the past.
The original question was "How much does this lower the resale value and will I have a harder time reselling?", not how do I hide that it was refurbed.
The original question was "How much does this lower the resale value and will I have a harder time reselling?", not how do I hide that it was refurbed.
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Here is the part I read.
"So, when I try to resell it, it is obvious that it is a refurb. How much does this lower the resale value and will I have a harder time reselling?"
Sorry if I mis-intrupreted what you were trying to say. Don't worry about the hole in the serial number, just expllain its a refurb.
"So, when I try to resell it, it is obvious that it is a refurb. How much does this lower the resale value and will I have a harder time reselling?"
Sorry if I mis-intrupreted what you were trying to say. Don't worry about the hole in the serial number, just expllain its a refurb.
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If I sell it 2 years from now, how much less would one expect to pay (or be willing to pay) for a used refurbished camera vs a used camera? Knowing that it was refurbished 2 years ago and it has not had a problem since? I have searched ebay and the web and there are very few hits on used refurbished cameras for sale or have sold. My guess is since it wasn't marked in the past, it was not an issue.
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My guess is that if you saved say 400 over new retail you would never get less than that same difference on a resell. My opinion is make the decision based on what you are comfortable with an not the future resale. IT soulds like that at some leve you are OK with it so keep it. I know I would have and have had no issue with Referb on things I buy including electronics.
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shtarker said:
Why are you even thinking of this? If you intended to resell the camera at maximum profit, you lost that chance when you opened the box. You paid at least $600 less than new and you are not satisfied? You could sell the 5D right now for at least what you paid for it. Again, why are you even thinking of this?
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unfocused
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You are asking a question that no one can answer.
No one knows what the re-sell value of a 5DIII might be in two-three years, refurbished or otherwise. Based on recent past, DSLR bodies depreciate rapidly once a new model comes out. Will that be the case with the 5DIII? Probably, but it depends on what features the 5DIV has or if you wait until the 5D V to re-sell it.
I don't understand why anyone cares about the re-sell value of their camera bodies. Camera's aren't investments, they are tools. When it's time to replace one, replace it. If you choose to sell the old body, you'll get whatever the market it commanding at the time. If you want to increase the re-sell value at that point, send it in to Canon before you sell it and have them give it a thorough going-over and cleaning.
No one knows what the re-sell value of a 5DIII might be in two-three years, refurbished or otherwise. Based on recent past, DSLR bodies depreciate rapidly once a new model comes out. Will that be the case with the 5DIII? Probably, but it depends on what features the 5DIV has or if you wait until the 5D V to re-sell it.
I don't understand why anyone cares about the re-sell value of their camera bodies. Camera's aren't investments, they are tools. When it's time to replace one, replace it. If you choose to sell the old body, you'll get whatever the market it commanding at the time. If you want to increase the re-sell value at that point, send it in to Canon before you sell it and have them give it a thorough going-over and cleaning.
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brad-man said:
I'm not thinking about maximum profit, I'm wondering if there is a market if I decide to sell it. I have about a week to return it, so having last minute second thoughts. I wasn't expecting the pin hole in the bottom of the camera. It doesn't affect the operation of the camera, but it says "I'm special" and may cause problems when trying to sell it. I have read some online articles on Canon factory refurbs and it sounds like the odds are very good that there never was any sort of problem with it and if there was, odds are that Canon has fixed it. A lot of people have bought refurbished and never had a problem.
But if something happens and I need money now or in the future and I am unable to sell it, I've just thrown away $2200. I keep going back and forth on returning. Especially when I see comments like "there are people(like me), would never buy a used-salvaged-item".
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shtarker said:
You bought a $3,500 camera for $2,200 and you're worried about the effect your $1,300 savings will have on the camera's resale value? Is that what you're saying?
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I've sold a refurb 7D and a refurb 5D MK II. The sales price was about the same. The number of actuations and the condition of the camera are a buyers first concern. A refurb camera is not salvage. Most of them were demos or new returns, and have very low actuations. Check the actuations on your camera, its likely under 1K.
Salvage cars are ones that have been totalled, from a accident or even a flood, and have a high likelyhood of having serious problems as opposed to a ordinary used car.
Salvage cars are ones that have been totalled, from a accident or even a flood, and have a high likelyhood of having serious problems as opposed to a ordinary used car.
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I don't understand why you're worried about it at this point. You decided that a refurb was worth the savings when you placed the order. You had already decided you needed this level of camera when you went about spending that $2200. Use it for what you bought it for and don't look back!
Depreciation is an ever-present fact of business. Regardless of new/used/refurbished...you're going to use the product for a period of time, then move it on towards the next product. It's very basic accounting principle in play, and once you buy the product you've accepted the facts.
Second guessing your purchase will do nothing more than keep you discontented. Be happy for the deal you made, take much delight in the product in your hand, and have fun in the use of a top tier camera. If I'd seen one at that price, you might not have had to worry about it!!
Has anyone else noticed Amazon selling it new for $2975??
Depreciation is an ever-present fact of business. Regardless of new/used/refurbished...you're going to use the product for a period of time, then move it on towards the next product. It's very basic accounting principle in play, and once you buy the product you've accepted the facts.
Second guessing your purchase will do nothing more than keep you discontented. Be happy for the deal you made, take much delight in the product in your hand, and have fun in the use of a top tier camera. If I'd seen one at that price, you might not have had to worry about it!!
Has anyone else noticed Amazon selling it new for $2975??
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I purchased a used 5DII in the past year. My considerations were (1) is it at or below below market price (2) excellent condition (3) low actuations (4) 100% positive feedback on Ebay. Nice to haves were original packaging and receipt. I would not have had an issue purchasing a refurb body if the considerations were met. I have purchase refub lenses and P&S and have had no issues at all.
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Stephen Melvin said:
Nope, I'm wondering if I will be able to sell it and how much I actually could get for it when I do.
On the price side, the camera is occasionally on sale for less than $3500 and you can get it bundled with printers and lenses that you could sell and bring the cost way down (but that is a hassle). So, I see the price of new as more like $2900. The refurb is a good deal, but if it has no resale value or resale market does it matter?
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MacroBug said:
Did the 5Dii have a pin hole in the serial number plate on the bottom of the camera? Just curious, it sounds like this is something new by Canon and if so, wondering why they decided to do it?
Keeping the original receipt is a good idea, I will be sure to keep it if I decide to keep the camera.
Thanks for the tip!!
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There are not many people like himshtarker said:
I happen to be one of those people who would rather buy a refurbished (by Canon) product as opposed to a used or even new one. The Canon techies test the camera/lens to make sure it is within spec. I believe their QC for refurbs is better than it is for new. It may only have a 90 day warranty, but at least it has been thoroughly inspected and brought into spec. Earlier this year, during one of Canon's refurb sales, I bought an EF-S 15-85mm f/3.5-5.6 IS for my old T2i that I leave in the car. It is truly a great single lens solution for an APS-C camera. It is sharp at all apertures and at all focal lengths. From the reviews of this lens, there are apparently copies of varying quality for this lens. My refurb is perfect, probably because it was gone over by Canon.
Anyway, unless you simply spent more than you wanted to in the heat of the moment and have buyer's remorse, enjoy your camera and don't worry about resale. As was pointed out earlier, bodies (unlike L glass) are not investments. As long as you take care of your new toy, your resale value will never be less than the amount you saved on purchase relative to the going rate for a used 5Dlll. Happy shooting!
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