2nd hand equipment prices

[markyboy.1967]

Ok, im hunting for this hard to find Nikon 500 VR and its proving a nightmare.I can see the odd AFS and AFS II for sale but even these command really high prices second hand ( often well over 4k for an AFS ).

Are the prices artificially high due to the availability or are the same principals set for all types of Photographic equipment.What i mean is that things like car prices are low, electricals are low as are many many other items but camera equipment hasnt saw the same drop in secondhand prices.

 

[Mud]

The car analogy doesn't really work - a 500mm VR can be used without putting 'mileage' on it. Further, exotic lenses aren't exactly common (by definition), they aren't manufactured in large batches, and have significant periods between batches...so even getting one new can take time. Lenses hold their value well (although take a hit each time there's a further revision), take some solace that you can buy it at a high price and sell it for nearly as much - the net effect being a rental with no major conditions on usage period.

DSLR bodies on the other hand do follow your car analogy, hence you take a serious hit when selling those.

 

[markyboy.1967]

The problem being i want to buy and keep not sell on a while later, so in effect i wont be getting a return ( in cash at least ).

Is it really the case when a new rev. comes out the prices of old rev. drops? Look at the 500 AFS still selling regularly for over 4k when they werent that to buy new.Prices have taken a sharp rise since Dec 08 and people sitting on this type of equipment seem to be taking advantage of that and selling for more than the original cost.

 

[martsharm]

What i mean is that things like car prices are low, electricals are low as are many many other items but camera equipment hasnt saw the same drop in secondhand prices.

Hmmm, not sure where you're getting your facts from here. Used car prices are unusually high due to reduced output from factories, for example waiting time for a new Audi is 6 months. Honest John expands here:

http://www.honestjohn.co.uk/news/item.htm?id=22263

In fact, used car prices have trended upwards by 25% since January 09:

http://www.glassguide.co.uk/Market/?MarketID=1&Other=3

Although apparently there might be a softening of prices over the winter.

Not sure electricals are low either, once old stock of previous generation models has been sold, the next generation look like being significantly more expensive, as you would expect with the exchange rate being so poor. At least that's my experience looking at DVD HDD recorders recently. And the MacBook I bought last year for £580 now costs over £100 more for the same model.

http://www.pixmania.co.uk/uk/uk/3070461/art/apple/macbook-mc240b-a.html?srcid=867

I don't think price rises are restricted to photography equipment to be honest.

 

[Mud]

Is it really the case when a new rev. comes out the prices of old rev. drops? Look at the 500 AFS still selling regularly for over 4k when they werent that to buy new.Prices have taken a sharp rise since Dec 08 and people sitting on this type of equipment seem to be taking advantage of that and selling for more than the original cost.

martsharm nicely summarised the current market whilst I was talking in more general terms. I've watched newer revisions reduce the value of older versions, but this year's economy craziness has been a bigger effect. I think a lot of secondhand prices got over-corrected after the price of new goods spiked at the beginning of the year, probably through opportunism. I see over-priced exotics on the second-hand sites I check every day, and the over-priced ones never sell.

 

[Meeten]

Have you seen the exchange rate over the last year - it may help in explain why the new prices are higher .....

 

[StewartR]

You're not going to find many 500 VRs on the second hand market. Given how expensive they are, most people who buy them are going to be pretty darned sure that's what they want/need before they part with their cash. So, that being the case, why would they want to sell?

And then basic supply and demand economics kicks in. Few sellers, many potential buyers ... and high prices.

Sure, the recession and the exchange rate won't have helped. But big lenses like the 500VR were rare and expensive on the used market last year too. In fact you might expect the recession to trigger more forced sales, which would increase supply and perhaps reduce prices...