Trying to sell a lens and I think I'm being low balled

Stilltime · March 18, 2009

So I got my rebel kit back in December with the EF-S 18-55mm IS lens. I've since gone on to buy two new lenses, and realized I don't use the kit lens anymore, so why not sell it and put it toward another lens?

So I did a bit of research on the lens and what it goes for used, and this is what I found...

Adorama $124:
http://www.adorama.com/US 332747.html

B&H, $129.00:
http://www.bhphotovideo.com/c/product/519475-GREY/Canon_2042B002_EF_S_18_55mm_f_3_5_5_6_IS.html

Amazon $114-158:
http://www.amazon.com/gp/offer-listing/B000V5K3FG/sr=8-1/qid=1237428580/ref=olp_pg_used?ie=UTF8&coliid=&startIndex=0&me=&q id=1237428580&sr=8-1&seller=&colid=&condition=used

So I listed the lens for $100 as "firm" (ie, no padding to take lesser offers). I got an email tonight offering me 80 bucks, and I politely declined citing the sources where I got my asking price from.

This was the response I got:

Quote:
Sir, you own the lens, that makes it used, anything used is worth half of original price along with being in excellence condition. I have offered you more than half. One bird in the hand is better than two birds in the bush.

For what it's worth, it's less than 3 months old, and is in perfect condition (stored with the caps, in a padded bag.. the whole nine yards). I can provide a reciept and proof of date of purchase.

I don't want to scam anyone, I just want to sell something I don't use and put it toward more equipment that I will use. I thought I did the right thing by researching the resell value of the lens.

Am I missing something here? Since when does a 3 month old canon lens automatically depreciate by 50%? If that's the case, why the hell can't I find my 70-200mm f/2.8L IS USM that's 3 months old for only 700 bucks?

Help a noob out. Is my price too high or what?

System · March 18, 2009

The prices you quoted from the various dealers are for a used lens. You have a used lens for about $25-30 less...Sounds like a good deal to me.
I would say that the guy offering $80 is trying to get it for a better price...something most all of us would do. Have you ever bought a used car? Did you pay the asking price? This guy it testing the water here. Hey, it's your lens. Keep it and wait for your $100 or sell it for $80 and be done with it. Your choice. Do I think he is low balling you...no. He is trying to get the best deal for his money.

rustic · March 18, 2009

I agree with the Captain... B&H and Adorama are obviously going to take their cut (thus increasing the price), but in return for buying it used through them you get the assurance that you're not going to get ripped off. If someone is buying it direct from you, they're taking more of a risk (nothing personal towards you, obviously!), and so they're going to expect to pay less.

I'm assuming that the prices that you're quoting are how much they're selling the lenses for, correct? I'd find out what B&H or Adorama would give you for your lens (certainly less than what they'll sell it for), and use that as a more accurate starting point.

And as captain said, it's your choice! It's only worth what someone is willing to give you for it, so you can hold out for more, negotiate, or just say the $20 isn't worth worrying about and take the $80 and put it towards something that you'll actually use.

Art Scott · March 18, 2009

also remember that those bigbox stores have the extra padded wallets to allow for a return if the lens is deemed un worthy for ownership by purchaser......in 15-30 days or so and they have the money to fix the lens if it comes back in not perfect shape.........do you

I will give the suspected low baller a kudo......he pm'd you and did not come in asking to have price lowered in the thread......that is what burns me and yes the mods can remove it, but by them a few thousand people have already seen it and that mkes minds starte to whirl with wonderment if you actually know what your asking or not............

Stilltime · March 18, 2009

Thanx guys. I was really more curious about the "its used therefore it's only worth 50% of the original price" theory, as that hasn't been my experience at all with buying camera equipment. In fact, that's the number one reason I've ended up buying new with all my lenses because for a small price increase I get a guarantee/warantee without the worry of buying a lens that has possibly been dropped or something, you know?

I also figured the B&H/Adorama had a consigment fee, hence the reason I went lower than what they're asking.

Thanx for the feedback.

jeff lapoint · March 21, 2009

Stilltime wrote:

Thanx guys. I was really more curious about the "its used therefore it's only worth 50% of the original price" theory, as that hasn't been my experience at all with buying camera equipment. In fact, that's the number one reason I've ended up buying new with all my lenses because for a small price increase I get a guarantee/warantee without the worry of buying a lens that has possibly been dropped or something, you know?

I also figured the B&H/Adorama had a consigment fee, hence the reason I went lower than what they're asking.

Thanx for the feedback.

First, you are selling the lens so you can sell it for what ever you want. If the lens goes for $100 new you are free to list it for $200 if you like. The market will decide if its fair because it will sell or it won't. Second, if the dude (or dudette:D ) doesn't like it he has power too--to not buy it. It has taken me several years of internet forum selling to get comfortable with this. Dont forget paypal fees and shipping rates as well--thats where selling always can end up hurting when you see that everyone took their cut and you didnt build it into the initial price.

I think good condition Canon L glass holds about 80%+ or so of new value. Maybe a bit higher or lower depending on demand. A bit less for non pro lenses in general. Sigma lenses dont hold value as well in general. Don't forget to list "firm" on prices as it generally scares away the lowballers.

BTW the 50% thing is horsecrap

hope this helps!

-J

baymoe · April 9, 2009

As many have already mentioned, it's ultimately down to you what you feel is fair. There's always going to be individuals throwing a offer out to see if there's negotiating room, it's just the nature of the beast. On the other hand, put yourself in the market for a used lense, you may find yourself asking for a lower price. Wouldn't hurt right?

Jeremy Winterberg · April 21, 2009

jeff lapoint wrote:

I think good condition Canon L glass holds about 80%+ or so of new value. Maybe a bit higher or lower depending on demand. A bit less for non pro lenses in general. Sigma lenses dont hold value as well in general. Don't forget to list "firm" on prices as it generally scares away the lowballers.

Just so you know, he did say "firm"..

But to be honest, this guy must not know what he's doing if he wants to buy that kit lens. No offense, but I prolly wouldn't even pay as much as he's offering for that lens. I say, if you find other people that want it, great, if not sell it to the guy and take the loss. If you got it as a kit (which you said you did) you didn't exactly pay full price for it anyways, as they pretty much throw that lens in for close to nothing.

just my (most likely unwanted) $0.02...

btw I wish L glass resold at 50% value too

... but yes 50% resell is BS.

Trying to sell a lens and I think I'm being low balled

Comments