Newb question on camera, lenses, and $$$

[chipy]

when a new camera version comes out (e.g. 5d mark iii) or a new lens version comes out (e.g. 24-70 f2.8 ii), what typically happens to the prices of the previous versions?

i guess this probably depends on how they price the new versions, but i'm not sure how Canon has traditionally done that. do you usually price it higher... which keeps the current version's value, or do they price it the same... which might drive down the value of the current version?

sorry for the newb question, but i'm curious since i own a 24-70 and hear rumors of version ii. TIA!

 

[The Stigenator]

usually drops.. the 5DII has already dropped to 1900 in most places

 

[chipy]

usually drops.. the 5DII has already dropped to 1900 in most places

thanks!

so assuming the new version is just as good or better than the current (say, for a lens), then I'd want to sell it now before price drastically drops, and then pick up the new one when it comes out.

 

[RobDickinson]

5D dropped in NZ to $1200 or so right after the 5d2 launch.

Then picked up and was around $1800-1900 until the last few months and its back to $1200ish.

Theres still a lot of demand for 5d2 and canon L glass, dont expect bargains.

 

[angry hampster]

thanks!

so assuming the new version is just as good or better than the current (say, for a lens), then I'd want to sell it now before price drastically drops, and then pick up the new one when it comes out.

Or just hang on to your old one if it still suits your needs.

 

[chipy]

thanks for all the input guys. the 24-70 has been a good walk-about lens... although i do wish the new version would have IS (but it's rumored not to). in that case, i'll just keep the one i have. thanks!

 

[RobDickinson]

24-70 IS would be technically a challenge, and be bigger and more expensive unless they went with a positive front element/rear focus design which has its own compromises.

 

[SecurityTheatre]

5D dropped in NZ to $1200 or so right after the 5d2 launch.

Then picked up and was around $1800-1900 until the last few months and its back to $1200ish.

Theres still a lot of demand for 5d2 and canon L glass, dont expect bargains.

Lenses and digital SLR camera bodies are ENTIRELY different beasts.

The Nikon 17-35 f/2.8 lens that i have still sells for the same as it retailed in the mid 1990s. The replacement 14-24 f/2.8 sells for much more.

Lenses tend to hold their value far more than bodies, which can drop in price by half when the new model comes out. Unless, of course, a new system, or new features comes out. Features like the optical stabilization and fast-silent focus motors dropped the value of the same lenses that didn't have those. However, I still use a 80-200 lens from the early 1990s that still runs upwards of $500 (the brand new one is about $1500). A digital camera from the early 1990s is worth pennies on the dollar instead of half or more.

 

[DarkRogue]

Camera bodies typically become outdated and drop in value over time, as with most electronics.

However, lenses retain their value extremely well, dropping very slowly, or in some cases, even rise in value over time. Lens technology does not progress as quickly.

Edit:
This is typically why it's recommended to splurge on glass rather than the bodies. The glass will serve you for a very long time, where a body can be replaced with newer models every couple years.

 

[finbarqs]

the only thing I wish on my 5D2:

Pro Sealing
Better AF (probably 1D-like AF!)
more Dynamic Range
More Movie Modes/options!

Everything can stay the same

 

[chipy]

thanks all! my 24-70 has served me well and i noticed it had appreciated in price last year but i checked a couple days ago and it's back down a bit. in the meantime, like you all said, my camera body 40D has gone down.

RobDickinson, you seem to know a lot about the technical aspects of a lense... that's something i have to read up on. thanks for your input!