Lenses hold their value? I'm beginning to wonder!

Hi All -

I have a 17-55mm lenses that I bought in Feb. 2010. It has seen very, very minimal usage and is in A-1 perfect condition. I talked on the phone today with a rep froma camera store that we pretty much all do business with & I asked about trading it for a used E+ lens they have for sale. I paid $1,060 for my lens but he said that tops he would give me $700 for it if it is in as good condition as I say it is. I have everything it came with, even the box that doesn't even look like it was ever opened! Isn't that quite a hit for a lens less than a year old? The lens I was going to purchase was selling for over $1,000 and has a date code of 1992!


I also lost quite a few $$$ on my 300mm f/4 when I sold it out right myself and it was only a couple months old. So I guess to say glass holds it's value ...I'm not quite sure what that means. If it is less than a year old what percentage should I expect to lose? If it's 5 years old?

Denise

Looks like KEH would give you $533 according to their website calculator. They have to be able to turn a decent profit on your lens so they are not going to give you as much as a private sale would bring you. Usually when I have looked at buying used, the asking price is high enough i would prefer just buying new. I guess you just have to be a t the right place at the right time.


Mark

I guess. Maybe in the short term you lose it but in the long term it holds it

Camera stores will never give you nearly as much as you could get selling the lens yourself since they need to pay for their overhead. If you want to get a good value for you lens, you

Trowski - I fully understand and agree with what you are saying. I guess it was just an initial sticker shock when he said the $700. I was hoping I would get $900 for it since I was buying another lens (with markup) from them.


On ebay, I get tired of the ones that try to scam me so this weekend I put a camcorder on my local craigslist and sure enough ...someone wanted me to give them my paypal address and they would send me a mailing label for their relative that lives out of state. So, even craigslist isn

If you

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Originally Posted by ddt0725

Maybe in the short term you lose it but in the long term it holds it's value better.

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Exactly. Sort of like the stock market - more of a long term investment (although the reasons are different). With the better lenses, they continue to be produced for years, and prices rise with inflation. In fact, Canon is hitting us with another increase right now. Simple - you buy a lens, and the longer you have it, the higher the retail price goes.


Here's one example - EF 24-70 f/2.8L,which is selling new for $1300 and has been for several months. Used copiesseem to go for around $1000 right now.So, if you bought it last year, you be looking at a loss of 23%. But, say you'd bought it exactly three years ago. In Jan, 2008 there was an $80 rebate on the lens, bringing the cost for a brand new copy down to around $1050. Selling it today for the going rate, you'd take a $50 loss after getting three years use from the lens.

Don't forget to consider fred miranda for selling the lens. They have a huge buying pool and a lens like that will most likely sell in just a couple hours, assuming you list it at a comparable value to similar lenses. I would imagine $850-890. The website doesn't charge any fees for the sale and it is somewhat common for the sellers to list items for sale and have buyers add 3% for paypal if that is how they pay. So you would get 100% of what you sell it for. I'm pretty sure there is a membership fee to be able to post items for sale (though not to purchase items as this is all I have done so far), but I don't think the fee is too much.


I hope this helps some. If the day comes that I want to sell a several hundred dollar camera item I will most likely use them. I have used them a few times for buying stuff already.


Braden

I sold my 17-55 IS lens on ebay 2 years ago and netted 700 something after the ebay fee and paypal fee. I had the lens hood with it as well. I was just glad to get rid of it but I lost a good chunk of change in the sale. Bought the 16-35II where I will own this lens for my entire lifetime. Popular, must have vocal length L-lenses will have a higher demands advertised on the bigger forums say like photo.net


I try and never use Ebay anymore as their fees have gotten so high and then there is paypal.


When the economies good and people have extra money to spend then used lens prices are higher. Since the economies been in the pooper not a good time to sell.

Denise, I want to add one more thing ----- the price you purchased ------- is in the higher range, I have seen the price was at least $100 lesser.( that was just 3-4 months ago)


for those who bought 70-200 2.8 II for $2500, most likely they will lose money when they sell it no matter what. but usually those people don

I see people selling lenses on ebay and craigslist within 10% of the B&H price all the time (sometimes 10% over). Personally, I

Check out the "buy and sell" forum on Fred Miranda, I always go there for used lens prices. It

If you make a private sale, the end-user purchase is "completed immediately". If you make a sale to a camera store, they have price risk, as they have no way to know what new lenses will be announced by Canon or competitors, or what rebates might come out on existing lenses. Combine that with the need for a profit, and you see more of the picture. :)

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Originally Posted by ddt0725

So I guess to say glass holds it's value ...I'm not quite sure what that means

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I've had pretty good luck with Tamron. I sold one for $80 more than I bought it for in less than a year. The more expensive Canon lens...not so good luck.

Another way to look at it, even if I take a hit ...it still is much, much cheaper than if I would have rented the lenses!

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Originally Posted by ddt0725

Another way to look at it, even if I take a hit ...it still is much, much cheaper than if I would have rented the lenses!

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That's why I never rent, and I really don't see the point of doing so just to try out a lens (although something like renting a supertele for a trip, or an MP-E 65mm for a specific project, etc., makes a lot of sense). Personally, if I want to try out a lens, I buy a used copy. Like Daniel, I never pay more than 70% of the cost of a new copy, that way if it's not the lens I want long-term, I essentially break even on the re-sale (I've resold some for a profit, others for a loss, but it has pretty much balanced out). Renting for 4 days or a week may not enough time to thoroughly evaluate a lens, anyway.

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Originally Posted by neuroanatomist

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Originally Posted by ddt0725

Another way to look at it, even if I take a hit ...it still is much, much cheaper than if I would have rented the lenses!
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That's why I never rent, and I really don't see the point of doing so just to try out a lens (although something like renting a supertele for a trip, or an MP-E 65mm for a specific project, etc., makes a lot of sense).

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I still think this is a theory for wealthy people and so I cannot take the same conclusion. I think renting sometimes is the best option you have. Else...just deal with the lenses you have. However I must also say that I never rented longer than a weekend.


Anyway, it's normal to lose 25-30 percent of the new-price. And if you sell it to a store it might be even worse. I have sold my 17-55 back then with 25% loss exactly. Lens was only a half year old or so. If I had sold it 3 years later, it would probably be about as much loss. So I guess that's where the statement: glass holds value comes from. Long-term value... And honestly on a camera body you could take a much bigger hit than 30 percent...


One more thing though. If you don't really need to sell the lens right away. Wait for spring/summer. Lens-prices in stores go up then and you could also expect a better salevalue then. However buying something obviously would also cost more [:P]


Oh before I forget, I think all lenses go up in price in februari? Wait for that to happen and then try to sell your lens. It might be worth the wait.


Good luck!


Jan

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Originally Posted by Jan Paalman

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Originally Posted by neuroanatomist

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Originally Posted by ddt0725

Another way to look at it, even if I take a hit ...it still is much, much cheaper than if I would have rented the lenses!
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That's why I never rent, and I really don't see the point of doing so just to try out a lens (although something like renting a supertele for a trip, or an MP-E 65mm for a specific project, etc., makes a lot of sense).

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I still think this is a theory for wealthy people and so I cannot take the same conclusion. I think renting sometimes is the best option you have. Else...just deal with the lenses you have. However I must also say that I never rented longer than a weekend.

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This is why I love the Bill Me Later gig. I buy a lens use it for 5 1/2 months, if I find I use it a lot, I keep it. If I don't think it is worthwhile I sell it before the interest free period is up. Like now my 6 months is up on my 50L but I love it and it has replaced my 35L in function. So the 35 will go to cover most of the price of the 50 and all will be right in my universe.

70% of the new price for a clean copy?! this is the deal hard to find IMO especially for L lenses( I know you can find some kit lenses or third party lenses for 30% off or even more), plus if everybody follow this rule, then I don

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Originally Posted by JJphoto

70% of the new price for a clean copy?! this is the deal hard to find IMO especially for L lenses

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I have bought the following lenses used:

• EF 200mm f/2.8<span style="color: #ff0000;"]L II - 59% of new price
• EF 300mm f/4<span style="color: #ff0000;"]L IS - 62% of new price
• EF 70-300mm f/4.5-5.6 <span style="color: #00ff00;"]DO IS - 64% of new price
• MP-E 65mm f/2.8 1-5x Macro - 54% of new price
• EF 1.4x II Extender - 60% of new price

All of them were in excellent condition (the 200mm prime was missing the lens case, not a big deal). These were all off my local Craigslist in the past year, within easy driving distance of Boston, and obviously all are reasonably high end lenses (I certainly don't expect to find a 500/4 or 300/2.8 for that sort of discount...but, you never know!).

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Originally Posted by neuroanatomist

• EF 200mm f/2.8<span style="COLOR: #ff0000"]L II - 59% of new price
• EF 300mm f/4<span style="COLOR: #ff0000"]L IS - 62% of new price
• EF 70-300mm f/4.5-5.6 <span style="COLOR: #00ff00"]DO IS - 64% of new price
• MP-E 65mm f/2.8 1-5x Macro - 54% of new price
• EF 1.4x II Extender - 60% of new price

All of them were in excellent condition (the 200mm prime was missing the lens case, not a big deal).

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From the buyer's point of view, these are awesome deals but from the seller's standpoint IMO, it's pretty disheartening. I don't see how the sellers could havewalked away from the dealwith the reaffirmed opinion that that glass holds their value.

It does make me feel alittle better though about what I sold my 300mm f/4L for!

Denise

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Originally Posted by ddt0725

From the buyer's point of view, these are awesome deals but from the seller's standpoint IMO, it's pretty disheartening. I don't see how the sellers could havewalked away from the dealwith the reaffirmed opinion that that glass holds their value.

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I know...that's one reason I bought them! [;)] But, I don't mean to imply that these are common prices - I check CL frequently and jump on a good deal if it's something I want, since deals that good only come along infrequently.

Denise


Over the years I have come to realize when I am telling myself a story.


The statements "Lenses hold their value" and "Lenses are a good investment" are things we tell ourselves when we want to buy another lens. It makes us feel better to think we might be able to get our money back. They are just little white lies we tell ourselves, that have a grain of truth to them.


How true are those statements? In comparison to a digital camera the lens will hold its value better sure. In comparison to shares of stock in World Com that a person bought in 1999 both the camera and lens will hold their value better. Compared to cash in your savings account, you will make more on your cash. For most hobbyest its not an investment. Were not looking to make money with it. Those statements are our security blanket.


I also kenw when I bought my lenses, that it would be difficult to sell them if I wanted to. Sure they sell at stores for 80% of the new value. I knew that meant the store would give me 50 - 60% if I were lucky. Selling and Buying on Craiglist here is not an option. In the last two years I have only seen a few L lenses, there has been a 100-400mm that someone keeps getting cheaper and cheaper on, it is down to $1050 now. Not all of us live in a makret like Neuro's where there is a lot of activitiy.


Good luck with your trading


Rick

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Originally Posted by neuroanatomist

But, I don't mean to imply that these are common prices

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I agree with that and was my main point.

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Originally Posted by HDNitehawk

How true are those statements?

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it depends on how you buy and sell your lenses. I remember when 200mm 2.0 was selling for $5300, with $500 rebate from canon, $200 from Bing, about $100 from ebay(2% ebay bucks), it would cost you about $4500 for a brand new lens from Adaroma ebay store not even one year ago, not even count that you could get even cheaper price from other ebay stores or a refurbished one from Adaroma ebay store and different credit card cash back program. but if you don't care about those saving programs and just go to your local store and grab one no mater what, and also sell it with 40-50%off to the same local store. that's a different story.


during last Xmas time about one month ago, one of the cash back program offer 3% cash back if you buy from ebay and Adaroma ebay store offer 4% cash back, that's total 7% off! but if you don't care, you shouldn't complain when you sell your lenses, and you should consider these facts when you set your price to sell, this explains why Denise's 300mm 4.0 was a hard sell.

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Originally Posted by JJphoto

but if you don't care, you shouldn't complain when you sell your lenses, and you should consider these facts when you set your price to sell, this explains why Denise's 300mm 4.0 was a hard sell.

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I will admit my timing has been off when it comes to being able to take advantage of most rebates but I always check online at EVERY reputable dealer's website before purchasing and purchase from the lowest priced one. The only thing I purchased locally was my camera from Best Buy which I got them to come below the cheapest price I could find online. So I wouldn't go as far as saying I don't care. And considering what I know now my loss on the 300mm was minimal considering Isold it for80% of what I paid.

I just checked completed listings on ebay for the 17-55 and prices ranged from $700 to $1300, but I

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Originally Posted by JJphoto

it depends on how you buy and sell your lenses.

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Buying right is always smart, getting the best price out of a used lens is always smart as well. However I was refering to the statemnt you hear all the time on the forums:


"Lenses hold their value...."


Using this statement in the cotext that your better off with a lens than a new camera is a fair point.


Using the statement in the context of weighingthe pros and consthat if you buy it, it will have some pre determined value in the future is more questionable and it is most likey us just trying to justify it to ourselves.


Using the statement to convince your spuose of your logic in buying it, well good luck with that argument.


Personally I have three lenses I am keeping for speculation. The 16-35mm L II and the 24-70mm L I am hanging on to because I do not want to take the retail to used price drop hit. My 300mm I am hoping it goes up when the new 300mm is released at $7K. So the insanity of the statement continues. [*-)]

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Originally Posted by Daniel Browning

I just checked completed listings on ebay for the 17-55 and prices ranged from $700 to $1300, but I'd say the average was around $1000.
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Now THAT'S what I'm talking about! [:D] Granted, you subtract ebay &amp; paypal fees and your getting down there but at least still ahead of what some other alternatives are.

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Originally Posted by ddt0725

So I wouldn't go as far as saying I don't care. And considering what I know now my loss on the 300mm was minimal considering Isold it for80% of what I paid.

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Oh, sorry, Denise, I didn't mean that, I was just hoping if you went with Bing and ebay, you could have saved another 10%, of course not everybody are interest in that, but when selling lenses, those are the things need to be considered also. I know there must be a better way to express my thoughts, but hey, English is my second language.[:$]

No problem, JJ. I have only heard of bing a few times and don't really no much about it I must admit. Every time I sell on ebay scammers come after me like a flock of seagulls and when I try to bid on there, bids go up so high, I might as well buy new ...so I do. I have not found too many used or refurbished prices that are low enough of an incentive for me to want to go that route most the time. So far, I have only bought one lens and one flash used.


It's a tough call either way. Sometimes you win ...and sometimes you lose. I just know that my 17-55mm has taken less than 50 photos and is in perfect condition and I hate taking such a hit but there is a lens I'd like to get that I know I would use more.


My 17-55mm was purchased to take LOTS of photos of my grandkids ...but they have since moved away and I rarely see them so the lens doesn't get used much. In fact, all of my portrait gear was purchased for that reason so don't be surprised if you see all of it up for sale (lights, stands, backdrops, lumodi, etc). I figure selling it alittle bit at a time will be less painful! Very sad when my daughter sends me photos taken at Sears Portrait Studio! [:'(]

Denise

Hi Denise,


Sorry about the location changes of your family, I thought there was an "expected arrival" and you were gearing up for more portrait work.


What direction and what lens are you heading towards?


Steve

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Originally Posted by ddt0725

Very sad when my daughter sends me photos taken at Sears Portrait Studio! [img]/emoticons/emotion-9.gif[/img]
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Ouch[U]


This will leave you with 24mm as your widest for your 7D. If you get the 5DII the 24 will be plenty wide IMO.


Whats you r plan? Or is that a secret till you have sold your lens?


Mark

No secrets. I just don't take a lot of wide angle shots or do any portraits like I thought (hoped)I would.

I sold my 3 year old 17-55mm on ebay for $900 on ebay. If I were to take it to a camera store, I

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Originally Posted by Steve U

Hi Denise,


Sorry about the location changes of your family, I thought there was an "expected arrival" and you were gearing up for more portrait work.


What direction and what lens are you heading towards?


Steve
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Yes, my daughter is expecting and although she still lives in Wisconsin her &amp; her husbandswork schedules and life bring themmy way less and less. And the same for my son and his family.

If was really, really tough deciding to sell it. I've been debating for weeks but I think I am going to get the TS-E 90mm and still haven't decided on the camera as of yet.

I watch three local Craiglists pretty regularly, and it

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Originally Posted by Keith B

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Originally Posted by Jan Paalman

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Originally Posted by neuroanatomist

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Originally Posted by ddt0725

Another way to look at it, even if I take a hit ...it still is much, much cheaper than if I would have rented the lenses!
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That's why I never rent, and I really don't see the point of doing so just to try out a lens (although something like renting a supertele for a trip, or an MP-E 65mm for a specific project, etc., makes a lot of sense).

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I still think this is a theory for wealthy people and so I cannot take the same conclusion. I think renting sometimes is the best option you have. Else...just deal with the lenses you have. However I must also say that I never rented longer than a weekend.

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This is why I love the Bill Me Later gig. I buy a lens use it for 5 1/2 months, if I find I use it a lot, I keep it. If I don't think it is worthwhile I sell it before the interest free period is up. Like now my 6 months is up on my 50L but I love it and it has replaced my 35L in function. So the 35 will go to cover most of the price of the 50 and all will be right in my universe.
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You've got a point there Keith. Although my local shop doesn't offer such kind of payment. Plus I'm not making money with photography so it wouldn't be a good option for me. It's good to hear that you like the 50mmL that much though [Y]

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Originally Posted by Jeff Lucia

When selling on Craigslist, I've
noticed that if I set a low price, I get legitimate buyers right away
(undoubtedly folks like Neuro who watch regularly and pounce when they
see a good deal for something they want). If I set an average or
slightly higher price, I don't get any legitimate buyers, just spammers
and scammers.


Long-term, this has caused me to set lower prices for items I list,
if I want to have a good chance of selling them. Ultimately, if I had
the patience to sift through all the ridiculous lowball offers and
tire-kickers, my lenses probably wouldn't lose so much of their value
:-)

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And that's exactly where you have to stand your ground. I have seen the same thing happening to myself a couple of times. It's a psychological thing. Most of the times I'm selling something, I have the replacement of it already in my mind and I rather deal fast. That's exactly where the people aim a: quick buying and selling. You get so much crap (fake bids, absurdly low bids etc etc) that you get annoyed by it. If one than decides to bid you at the minimum price that you had in mind before, you're more likely to pull the trigger directly.


Also when you leave the e-mail option open, people don't bid, but try to deal directly, which puts pressure on you. You don't want to wait too long, since the buyer might be looking else as well.


It's a hard market and I do not really like it. However it gives me more than any local store would give... However if you're on the other side (the buying party) you could take advantage of this [A] I've bought my girlfriend a 450D this summer for only 250Euro. (2nd hand at my local shop: 350Euro). It was as good as new, the owner had won it in a company competition. (he worked for Canon).


He didn't bother to put any photos online which didn't get attention to his sale and it was up for a long time. He was just a bad marketeer...


Anyway it's a hard market, but unfortunately it's the best you can get here...

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Originally Posted by ddt0725

If was really, really tough deciding to sell it.
I've been debating for weeks but I think I am going to get the TS-E 90mm
and still haven't decided on the camera as of yet.

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Deciding what you're gonna buy later on is often easier than selling your stuff, isn't it? [;)] I'm curious though, what is your motivation/purpose for the 90mm tilt-shift? I don't know anyone who has this lens, so I'm not sure what to expect from it.


Anyway good luck deciding [:)]

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Originally Posted by Jan Paalman

I'm curious though, what is your motivation/purpose for the 90mm tilt-shift? I don't know anyone who has this lens, so I'm not sure what to expect from it.

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I'll admit to being curious about this as well! From what I've seen, a primary use for the longer TS-E lenses is product photography.

Yes, granted it

Don