CHG_CANON Loc: the Windy City

When you're working on something you really care about, would you let the cost of a new camera be the barrier to your success?

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How do you possibly read him like that ? It’s easy enough to see he is doing quite the opposite.

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ROTFLMFAO

I am a scavenger ... which makes me one of the most important and most beneficial actors in the ecosystem.

All else being equal (customer service, USA warranty etc etc) I will ALWAYS seek to purchase from the MOST desperate seller I can find.

When buying face to face I put that intention unashamedly on the table.

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Cuz I’m such a caring, thoughtful and patriotic citizen, I almost always choose from the inventory that provides the higher profit margin to the retailer.

IOW I tend to buy used gear ... cuz it benefits ME. Benefit to the retailer is an incidental bonus. Benefit to the retail ecosystem means that I get to continue filling my needs in this manner.

DaveyDitzer Loc: Western PA

No, helping a company sell something during the pandemic!

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My vehicle is low miles and only 5 yrs old. At purchase, it was the last of its breed, from any brand, and it’s exactly what I wanted. So, rather unfortunately for the economy, I cannot be tempted by any incredible covid19 crisis deals on vehicles.

burkphoto Loc: High Point, NC

Cars are holes in the road we throw money into. Might as well drive what we like.

SteveR Loc: Michigan

Nah, just give them some support!!!

GaryBrand

Not just companies like Nikon,Canon or Sony got hurt by pandemic but many photographers or really small companies lost business,As you know many cameras on the market overpriced and big companies make big bucks!So why not drop the price to help small business photographers who use their cameras not a phone

DaveyDitzer Loc: Western PA

Being a car guy, I'm interested in the car or vehicle to which you refer.

Dalbon

I have a Phase One AF with several lenses, an 80 MP Leaf digital back and a Pelican case I would sale. If you'd like to contact me yo may at, dasemail41@yahoo.com. I would be happy to respond to anyone interested in this system.
Thank You, David

burkphoto Loc: High Point, NC

Overpriced simply means something is priced higher than the market will bear, thereby making the delivery of that product or service unprofitable and/or unsustainable.

In my experience, price is related to several factors:

> Uniqueness and "drool worthiness" of the product (The Apple iPhone was unique at introduction. People bought it for lots of reasons, but "coolness" was certainly a big one.)

> Scarcity of the product at introduction (Various athletic shoes are deliberately in short supply at introduction, to create mystique and awe and envy, and to provide the illusion of social status to the aspirational wearers.)

> Competitive advantage of the product at introduction (Is it actually *better* than other alternatives at doing something, or does it do *something* that alternative products can't do, that seems necessary?)

> Does the product have significant startup costs to recoup (for design, engineering, tooling, and advertising)? These costs are usually front-loaded into the price because demand is (hopefully!) high enough to support a high price.

So... early adopters of new products typically pay the highest prices. In the camera market, this usually lasts for about 12-24 months, depending on demand.

Once a product has satisfied initial demand, and/or the startup costs are covered, it may be time for a company to gradually reduce the price of a product to sustain and boost demand.

The desire is to reach an equilibrium between price, quantity sold, marginal cost of producing another unit, long run average cost, and long run marginal cost. In other words, a company will try to sell as many of a product that is still in relatively high demand as will keep the production lines humming, without creating the need for NEW investment in equipment and other production necessities, and without building excess inventory.

Of course, they must also make a profit for investors. Without profit, there is ZERO incentive to make something. So the price may drop until it no longer supports profitable production and sale.

In the camera market, this period of sustained production and sale may last from 12 to 24 months before a successor is released. A product may be produced much longer if it has classic or cult or niche status (The Lumix GH4 I use has been sold for five years. In the digital world, that's a bit of a classic niche player! The price has dropped several times in the USA, from $1700 to $999. New ones are still available here and there, at premium prices.)

As another example, the Nikon F SLR was made from 1959 to 1974, and sold 862,600 units. I'd say Nikon milked it for all it was worth, as the F2 began production in 1971! The F2 sold 816,000 units. The Nikon F3 bodies were produced from March 1980 till October 2000! Over 750,000 were made in the first 12 years of that run.

The point is that price is relative to demand in the market place. If people still want something, the company will still make it and sell it. An item is NOT overpriced if it can still be manufactured and sold at a profit. It is UNDERPRICED if sold below break-even*, or below the aggregate costs of marketing, production, sales, distribution, return on shareholder investments, etc.

*The "break-even" point includes a fair profit for investors, if the company's management has any sense at all.

Ritz

I have been watching for a good/great deal on the Canon 11-24mm L lens. So far, $2699 is the lowest price I've seen. Still a little too pricey for me at this time. I'll keep watching.
Ritz

CHG_CANON Loc: the Windy City

It's the poor craftsman who doesn't shop for new tools.

senior techie Loc: Boca Raton Fl

Well said.