Canon confirms price drop on select EF lenses in US

Brian G

Brian G

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It's being widely reported on US photography sites that Canon has confirmed a permanent price drop on selected EF lenses.

Does anyone know if we are going to be given a similar benefit in the UK?
 
There have been some massive price drops recently in the UK. For example I'm aware of £1400 off the 200-400mm f/4 L IS USM and £250 off the 24-70mm f/2.8 L II USM, and I would do more research but I have a zillion other things to do before going on holiday! In both these cases that's about 14%. Check out any of the major retailers for other examples. No idea whether they're permanent though. I hope not. If they are, it's just cost me ££££££ in terms of the value of my stock!
 
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I read on Fred Miranda that it's because of the change in the value of the Yen relative to the dollar
I guess the UK must be a similar situation
apparently they are struggling to hit sales targets so when the exchange rate changed they could drop prices without affecting their income
 
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StewartR said:
There have been some massive price drops recently in the UK. For example I'm aware of £1400 off the 200-400mm f/4 L IS USM and £250 off the 24-70mm f/2.8 L II USM, and I would do more research but I have a zillion other things to do before going on holiday! In both these cases that's about 14%. Check out any of the major retailers for other examples. No idea whether they're permanent though. I hope not. If they are, it's just cost me ££££££ in terms of the value of my stock!
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I know there have been reductions in the UK recently but haven't they been temporary as the result of a "cashback" deal?

Most of the USA reductions are on some of the highest priced items, and I'm not really interested in the 200-400 F4L at any price.
I'm considering the EF 14mm f/2.8L ll and £100 or so off that would be very nice.

I'd also seen the comment that it was due to exchange rate fluctuations.

If the price reductions are permanent are you going to be reducing your rental rates?
 
I doubt we will see any significant price drops in the uk, other than the cashback deals.
 
justingrainge said:
I doubt we will see any significant price drops in the uk, other than the cashback deals.
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Yes, That's usually the way it happens.
We've had a 1 to 1 dollar/pound exchange rate for a long time, now it looks as if the sterling prices will actually be larger than the dollar process.
 
Brian G said:
I know there have been reductions in the UK recently but haven't they been temporary as the result of a "cashback" deal?
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justingrainge said:
I doubt we will see any significant price drops in the uk, other than the cashback deals.
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Check out the retailers, guys. Here's an example. £250 reduction and not a cashback. The only question is whether it's temporary or permanent.
 
Brian G said:
If the price reductions are permanent are you going to be reducing your rental rates?
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I'd have to give it some serious thought. Obviously all our customers always have the option of buying instead of hiring, so our prices have to recognise that. Plus, if I can buy things more cheaply, I can hire them out more cheaply and make the same margins - though that would take a long while to work through because of the massive price inertia arising from the existing stock. On the other hand, I don't think I've raised any prices for about 4 years, so... in short, I need to look very hard at pricing.
 
I often refer to "Camerapricebuster" for guide prices.
There are two other, proper Canon dealers, offering that same lens for £100 less than WEX at the moment.
Furthermore, Pricebuster says that yesterday (2nd Sept) the price was £1019! - presumably one of those whacky 3 - hour reductions that Amazon do from time to time.
According to their long-term price history, I don't see any general downward trend on that particular item, although the EF 24-70mm f2.8L II USM shows several large downward steps in the last few months, as does the EF 14mm f2.8 L II, although the best ever price on that was over 2 years ago (April 2012).
 
Brian G said:
Furthermore, Pricebuster says that yesterday (2nd Sept) the price was £1019! - presumably one of those whacky 3 - hour reductions that Amazon do from time to time.
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That was John Lewis but they had no stock, it's gone back up to £1699 today.
 
Sharky said:
That was John Lewis but they had no stock, it's gone back up to £1699 today.
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I wonder if it was a typnig error or they were price matching?
Funny thing, I was in John Lewis on Tuesday, if I'd known they actually had any at that price I'd have been in like a shot...
£1699 seems to be the norm, but there's a couple of places got it at £1669.
If that second number was a 4 I might just be tempted, but it does seem really overpriced.
Trouble is, I find the more you spend on lenses the less you actually use them.
My most expensive lens is my EF 100-400mm f4.5-5.6L IS and I use it about twice a year.
 
StewartR said:
I'd have to give it some serious thought. Obviously all our customers always have the option of buying instead of hiring, so our prices have to recognise that. Plus, if I can buy things more cheaply, I can hire them out more cheaply and make the same margins - though that would take a long while to work through because of the massive price inertia arising from the existing stock. On the other hand, I don't think I've raised any prices for about 4 years, so... in short, I need to look very hard at pricing.
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I'd say your pricing was spot on, no need to review at all ;)
 
Brian G said:
I wonder if it was a typnig error or they were price matching?
Funny thing, I was in John Lewis on Tuesday, if I'd known they actually had any at that price I'd have been in like a shot...
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General consensus was pricing error which got recertified when they briefly had one in stock earlier today, now OOS again and still £1699.
 
If you take a look around the site you will find that they still have a few of the version 1 lens at £1019 so I assume it was a pricing error.

I was going to call them this morning to see if I could pre order one, but the price had been fixed by the time I got round to it :(
 
StewartR said:
Compared to what? If you're basing your opinion on the Nikon 24-70/2.8, I'd say the Canon one is a good buy.
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Compared to what it is worth, simple really. I wouldnt compare it to the Nikon 24-70mm as thats the most over hyped, over priced piece of crap to hit the shelves, however the link was to the Canon 70-200mm not the 24-70mm

I do get that if its lowered in price that your own business will suffer as you will also have to lower your own rental charges,
 
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Brian G said:
We've had a 1 to 1 dollar/pound exchange rate for a long time, now it looks as if the sterling prices will actually be larger than the dollar process.
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You really need to stop believing everything the Daily Mule tells you.

70-200 f4 IS

WeX = £800 (without tax)
B&H = $1300 (without tax)
 
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