Value of used lenses dropping?

[Desmond]

I'm not sure if I just haven't been monitoring the trend long enough but it seems like used lenses are losing value pretty quickly compared to how I thought they held their value.
I can understand the screw drive lenses losing value because on many of the auctions there is a disclaimer "won't af on D40,60,3xxx,5xxx series etc" so it makes sense that the 50mm 1.8D is selling for less than half of what it was a few years ago. And even the old 18-70mm afs lens is rapidly decreasing in value partialy due to not being VR perhaps.
I suppose in New Zealand it may be a greater decline because I notice that with the internet more and more overseas companies are selling here at very reasonable prices like when the 35mm 1.8G came out it was close to $400 here, now it battles to sell for $180 used, but then there is a seller based in Hong Kong advertising them for $250 brand new. Many people are wary of buying imports online but once some people have bought them it lowers the resale prices eventually....... Maybe I'm just rambling about changes in this country or are lenses also not holding their resale values like they used to?
Maybe modern technology is making them cheaper than before as well.....

 

[Joseph]

I think your observation is spot-on, Desmond. I've lost about $2K the last 2 years because I keep shuffling my kit. Prior to 2012, lenses held their value much much longer. You always hear that bodies lose value faster while lenses tend to hold their value...I think this isn't true anymore. I think they are about the same now in terms of depreciation.

I think the reason this is happening lately is because we have TONS of options now. Back then (for example) we only had the 70-200, 300 f/4 and (it you have money) the 200-400. Now there's tons of choices. You can get an 80-400 AFS and it's "good enough" and affordable. Same thing on the wide end. We now have 14-24, 16-35, 17-35, and 18-35. Tons of choices. Not to mention smartphones and mirrorless.

 

[Drauka]

The AF lenses seem to be losing value fast. Mainly in my thoughts due to the proliferation of both bodies (without screw drives) and the number of AF-S lenses hitting the market (and VR).

I expect that MF lenses will take less of a hit this time but that AF lenses will bottom out in the next few years, that is if Nikon doesn't do internal image stabilization in the camera bodies. I seriously doubt that will happen though.

 

[Desmond]

I think the next few years will be worse for sellers [better for buyers] since the flood of options will turn into a tsunami as better camera phones and mirrorless cameras draw more people away from DSLR's.

 

[ShaunK]

I don't know if sellers are getting the prices or not, but 2 of my main lenses are selling for as much as or more than what I bought mine for years ago. I think it completely depends on the class of lenses you are looking at... the consumer grade lenses tend to drop much more quickly... the pro lenses don't. I've been keeping my eyes out for a "good" deal on a 24-70, but they continue to hover in the $1400-$1500 range used, for quite some time now...

 

[Desmond]

I don't know if sellers are getting the prices or not,...

There's that aspect as well, the dreamers - mainly in the used body area though. "I paid $1200 for it when it was new 4 years ago and have hardly used it so feel it is worth $1000 {even though they are selling for $450 new at the moment}"

 

[Kingfisher]

There's that aspect as well, the dreamers - mainly in the used body area though. "I paid $1200 for it when it was new 4 years ago and have hardly used it so feel it is worth $1000 {even though they are selling for $450 new at the moment}"

You got that right! A lot of sellers think because they buy a new lens for $1,700 they can sell it for $1,600. Good luck to them. If I'm buying a used lens I expect a decent discount that will cover at least one trip to Melville. It's foolish to buy a lens with so little off and not have the 5-year Nikon warranty.

Buying lenses used is the best way to save a lot of money though, provided you don't pay too much. Buying new should be looked at as a cheap rental if you use them for several years.

 

[nu2scene]

I have never understood why used lenses held their value as much as they do. Why would I ever buy a 5-10 yr old lens just to save $200. For me they need to drop in value way faster to ever be considered.

 

[Jonathan F/2]

Pro 2.8 glass has gone up a bit. I remember you could find minty 17-35 AFS lenses for $500, now they go for $700 and up. Back in the day, you could easily find a clean 300mm 2.8 AFS-I for 2K, now you'd be lucky if you could find one a tad under 3k USD.

 

[midocr]

You got that right! A lot of sellers think because they buy a new lens for $1,700 they can sell it for $1,600. Good luck to them. If I'm buying a used lens I expect a decent discount that will cover at least one trip to Melville. It's foolish to buy a lens with so little off and not have the 5-year Nikon warranty.

Agreed! There are still a couple of lenses that I'd like to have that I've seen for sale, even here at the Cafe. But I'm not going to pay their asking price when I can get new with warranty for a couple hundred more. I have 6 lenses that I decided to sell at the beginning of this year, because I haven't used them "forever" and because I have so much over-lap. After researching and watching prices, I'll just keep them unless I see someone looking for one of them, or can find a worthwhile place to donate them where I know they will be used.

 

[Panther]

Pro 2.8 glass has gone up a bit. I remember you could find minty 17-35 AFS lenses for $500, now they go for $700 and up. Back in the day, you could easily find a clean 300mm 2.8 AFS-I for 2K, now you'd be lucky if you could find one a tad under 3k USD.

Yeah an EX+ 80-200 ƒ2.8 with hood & case at KEH is $1000.00+...

 

[Joseph]

Nope, they're dropping like a rock. I watch equipment prices everyday, and this is what I'm seeing:

70-200 VR1 in 2012 = $1550, now $1100 (ebay, KEH, FM) This is one of those lenses that held its value at $1500 for the longest time, but not anymore.
300/4 = used to be 1300, now $850 (FM, ebay)
28 1.8G.. new $700, bought mine used at $550 last year, then sold it for $400 3 days ago (and somewhat hard to sell)
85 1.4D... sold mine for $950 in 2011, now you can get one used for $650 at FM
85 1.4G. Sold one for $1400 two years ago. Now the used prices hover around $1250 (FM)
70-300VR. Going rate around 2009 was $450, now you can easily get one for $330 (FM, KEH)

and how about this one.. 200 f/2 VR1.. for the longest time it was $4K. I bought mine for $4K (2012), today, no one will touch it for that price. The going rate for a used one is more around $3300-3500 (KEH, FM)

The lesson is... if you don't want to lose money, stop shuffling your kit and keep shooting what you have.

 

[Panther]

Nope, they're dropping like a rock. I watch equipment prices everyday, and this is what I'm seeing:

70-200 VR1 in 2012 = $1550, now $1100 (ebay, KEH, FM) This is one of those lenses that held its value at $1500 for the longest time, but not anymore.

Hmmm,
I see a couple of VR1s at KEH for $1479....

-> http://www.keh.com/camera/Nikon-Autofocus-Zoom-Lenses/1/sku-NA07999058195K?r=FE

 

[Kingfisher]

Agreed! There are still a couple of lenses that I'd like to have that I've seen for sale, even here at the Cafe. But I'm not going to pay their asking price when I can get new with warranty for a couple hundred more. I have 6 lenses that I decided to sell at the beginning of this year, because I haven't used them "forever" and because I have so much over-lap. After researching and watching prices, I'll just keep them unless I see someone looking for one of them, or can find a worthwhile place to donate them where I know they will be used.

My general rule is they can ask whatever they like, I will offer them what I am going to pay. They either like it and we get the deal done or they don't and get to warehouse it until someone else comes along and pays their asking price. No loss on my end.

Nope, they're dropping like a rock. I watch equipment prices everyday, and this is what I'm seeing:

70-200 VR1 in 2012 = $1550, now $1100 (ebay, KEH, FM) This is one of those lenses that held its value at $1500 for the longest time, but not anymore.
300/4 = used to be 1300, now $850 (FM, ebay)
28 1.8G.. new $700, bought mine used at $550 last year, then sold it for $400 3 days ago (and somewhat hard to sell)
85 1.4D... sold mine for $950 in 2011, now you can get one used for $650 at FM
85 1.4G. Sold one for $1400 two years ago. Now the used prices hover around $1250 (FM)
70-300VR. Going rate around 2009 was $450, now you can easily get one for $330 (FM, KEH)

and how about this one.. 200 f/2 VR1.. for the longest time it was $4K. I bought mine for $4K (2012), today, no one will touch it for that price. The going rate for a used one is more around $3300-3500 (KEH, FM)

The lesson is... if you don't want to lose money, stop shuffling your kit and keep shooting what you have.

I made money when I sold my 70-200/2.8 VR1. I bought it new with a nice Nikon rebate and used it for at least 5 years and sold if for a few hundred dollars more than what I paid for it when I "upgraded" to the VR2 version.

Know what you mean about the 200/2. I have the VR1 version and I love it. I have no intentions of selling it. If I do, I know I won't get anywhere near the $4K I paid for it. No matter, it is over 5 years old and that is one hell of a cheap rental.

Oh, and if you want to shuffle your kit and not loose money, buy used lenses at the right price.

 

[Jonathan F/2]

The lesson is... if you don't want to lose money, stop shuffling your kit and keep shooting what you have.

I've shuffled my kit so much, I'm now down to the barebones! Got rid of all my super exotics. The most exotic lens I have is my trusty 70-200 VR-II!

 

[Joseph]

Hmmm,
I see a couple of VR1s at KEH for $1479....

-> http://www.keh.com/camera/Nikon-Autofocus-Zoom-Lenses/1/sku-NA07999058195K?r=FE

I guess you missed the ones going for $959-1100

http://www.keh.com/camera/Nikon-Autofocus-Zoom-Lenses/1/sku-NA079990581950?r=FE
http://www.keh.com/camera/Nikon-Autofocus-Zoom-Lenses/1/sku-NA07999058195F?r=FE
http://www.keh.com/camera/Nikon-Autofocus-Zoom-Lenses/1/sku-NA07999058195N?r=FE
http://www.keh.com/camera/Nikon-Autofocus-Zoom-Lenses/1/sku-NA07999058195J?r=FE

 

[Joseph]

I've shuffled my kit so much, I'm now down to the barebones! Got rid of all my super exotics. The most exotic lens I have is my trusty 70-200 VR-II!

You got rid of your 400 2.8 too?? your daughter's gonna be playing sports soon

 

[Panther]

LoL no didn't miss them, ...But just wanted to illustrate that the $1400 ones (of higher quality) are still there....

 

[Bunsen Honeydew]

If it is true that used lens prices are dropping, would part of the reason have anything to do with the 10 year estimated lifespan that is now shown on all electronic equipment ? I can't recall what they call it, but it has something to do with the no lead solder.

 

[Panther]

If it is true that used lens prices are dropping, would part of the reason have anything to do with the 10 year estimated lifespan that is now shown on all electronic equipment ? I can't recall what they call it, but it has something to do with the no lead solder.

Ah yes...the 'whiskers' syndrome....