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Selling camera gear
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Mar 20, 2020 08:00:08   #
Dannj
 
Looks like you took the easy route to sell your gear and they paid you what they said they would.
Ok, lesson learned. Next time, put in the effort and sell it yourself. Ebay is a good option or post it here.

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Mar 20, 2020 08:03:45   #
Canisdirus
 
CHG_CANON wrote:
The easiest way to make money as a photographer is to sell your equipment.


The easiest way to make 10k ... is to sell 20k of gear.

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Mar 20, 2020 08:15:41   #
ltatko
 
Wow! Gee!

Concept of Capitalism is being tested and debated!!

Len

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Mar 20, 2020 08:28:51   #
camerapapi Loc: Miami, Fl.
 
You have one with a similar experience here and I learned the lesson. They give us pennies and sell for good dollars and understand I am aware they have to make business for an earning.
If I had to do it again I would do business with MPB if I do not try to sell it elsewhere.

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Mar 20, 2020 08:29:50   #
Jaackil Loc: Massachusetts
 
cboysen wrote:
Recently I opted to sell my Nikon gear to one of the big New York camera stores. I sent in a list of my gear and received a preliminary estimate of $XYZ.00. I sent everything in and after 2 weeks I received a check for $XYZ.00. I was upset that apparently no second estimate had been done because my gear was brand new, unused, and spotless. When I wrote and asked why the preliminary and final amounts were the same, they wrote back that that was the way they did business, or words to that effect, and that I could take it or leave it. Painfully I agreed to take it, rather than go through the whole process with another company or two or three. My question: has anyone else gone through a similar experience?
Recently I opted to sell my Nikon gear to one of t... (show quote)


I am just curious when you bought your gear new for the listed price of $abc.00. Did you send the retailer more money after you got it home and enjoyed using it?

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Mar 20, 2020 08:59:22   #
ltatko
 
Was in scrap metal business for 20 years.

Buy low---Sell high!!

It works!!

Len

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Mar 20, 2020 08:59:59   #
lwerthe1mer Loc: Birmingham, Alabama
 
I have always been disappointed with the prices I could get for used equipment. Most recently, I have donated equipment to a local charity that involves children in photography. I enjoy making the gifts and enjoy my tax deductions.

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Mar 20, 2020 09:17:13   #
Notorious T.O.D. Loc: Harrisburg, North Carolina
 
I always taught my kids that the money is made on the buy...before the sell...

ltatko wrote:
Was in scrap metal business for 20 years.

Buy low---Sell high!!

It works!!

Len

Reply
Mar 20, 2020 09:17:57   #
olemikey Loc: 6 mile creek, Spacecoast Florida
 
gessman wrote:
Often it depends on which side of the fence you're on. When we don't use something we've bought very much we tend to perceive it as new but when we're on the other side of the fence it is perceived as used no matter how little use it has on it. The photography industry typically buys your pre-owned gear for 1/4 of the new price maybe will kick in a little extra if it's extra clean but more typically they'll take away from that if it's a little bit dirty or has a scratch or two on it. They will then turn right around and sell it right back to you for 1/2 the new price or much more if it's real clean and shows low or almost no use. Some places don't use that formula but many do. You'll do much better usually by selling yourself to someone interested in using it rather than turning a profit with it. Sorry you "got burned." It happens. Pity.
Often it depends on which side of the fence you're... (show quote)


Yes, so true and describes the way most/larger camera "re-sellers" operate....a certain few high end items might break out of this 1/4-1/3 $$ mold a bit, but for the most part, mainstream and consumer goods, cameras/electronics work this way. And; everyone should remember that "negotiation" is part of the game....I never "accept" a first offer, I negotiate (unless using Ebay with auction or stated final price) on anything bought or sold....sometimes it works well/sometimes not - then I have to decide. If one "accepts" a deal they don't like....you could have negotiated, or told em to return it and try again.

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Mar 20, 2020 09:19:42   #
Notorious T.O.D. Loc: Harrisburg, North Carolina
 
Send me a donation for $10,000 and you can write it off and save maybe a couple thousand in taxes...win win for both of us, right...😳😎

lwerthe1mer wrote:
I have always been disappointed with the prices I could get for used equipment. Most recently, I have donated equipment to a local charity that involves children in photography. I enjoy making the gifts and enjoy my tax deductions.

Reply
Mar 20, 2020 09:26:30   #
lwerthe1mer Loc: Birmingham, Alabama
 
Notorious T.O.D. wrote:
Send me a donation for $10,000 and you can write it off and save maybe a couple thousand in taxes...win win for both of us, right...😳😎


To avoid tax fraud, I check Amazon, EBay. etc. to document the valuation of the equipment.

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Mar 20, 2020 09:33:29   #
fergmark Loc: norwalk connecticut
 
Manglesphoto wrote:
I really hate to say this, but your New equipment is no longer new once you take delivery , and you are not going to get near what you paid for from a retailer. Once an estimate is given about the only way it can go is down.
Try reselling a brand new car to a dealer!!



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Mar 20, 2020 09:42:09   #
47greyfox Loc: on the edge of the Colorado front range
 
I believe the rule of thumb for selling equipment to resellers like Adorama, B&H, KEH, MPB, etc is not to expect more that 60-70 per cent of their resale value. Your equipment was likely “like new,” for classifying purposes, certainly not “new.” The retailer can’t sell your equipment as new, regardless of condition. As for receiving what they estimated, you shouldn’t be surprised. The vast majority of your type of transactions end just like yours.

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Mar 20, 2020 09:47:36   #
Notorious T.O.D. Loc: Harrisburg, North Carolina
 
Makes sense as they can probably buy new stock for 60 percent or less than retail. Some consignment places will sell items for 20 percent...

47greyfox wrote:
I believe the rule of thumb for selling equipment to resellers like Adorama, B&H, KEH, MPB, etc is not to expect more that 60-70 per cent of their resale value. Your equipment was likely “like new,” for classifying purposes, certainly not “new.” The retailer can’t sell your equipment as new, regardless of condition. As for receiving what they estimated, you shouldn’t be surprised. The vast majority of your type of transactions end just like yours.

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Mar 20, 2020 10:01:30   #
BuckeyeBilly Loc: St. Petersburg, FL
 
cboysen wrote:
Recently I opted to sell my Nikon gear to one of the big New York camera stores. I sent in a list of my gear and received a preliminary estimate of $XYZ.00. I sent everything in and after 2 weeks I received a check for $XYZ.00. I was upset that apparently no second estimate had been done because my gear was brand new, unused, and spotless. When I wrote and asked why the preliminary and final amounts were the same, they wrote back that that was the way they did business, or words to that effect, and that I could take it or leave it. Painfully I agreed to take it, rather than go through the whole process with another company or two or three. My question: has anyone else gone through a similar experience?
Recently I opted to sell my Nikon gear to one of t... (show quote)


Pretty much the same as buying a car. The very second your car is driven off the lot and onto the road, its value drops considerably.

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