Recession - Do I wait for prices to drop before buying? - Your Thoughts Please

Kinobe

Kinobe

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Hi all..

I regularly use these forums to peruse - find it very knowledgeable and helpful to say the least. So your input is much appreciated :)

It is time for an upgrade soon but recession has hit many and we see this effect on the camera industry, especially Nikon.

I'm in the market for upgrading to a Nikon D3 and now the news reports recession is coming to an end in Japan, do you think that prices will start falling? Before the economy collapsed, I should of snapped (no pun intended) one up then, they were going for around 2.5k but now some retailers still have them at 3.2k..

I would like to buy new, (you then know the history behind the camera, i.e there is no history it's new) Due to the supply and demand for my work, I need something solidly built just like my current D2x setup which can take a few knocks, bumps. I cannot fault it tbh and my whole bag of lenses is Nikon so not willing to switch.

So do I wait a little longer and wait?

Thanks for your input..
 
The prices are bad here because of the poor exchange rate...The YEN used to be in the 200s its now around 150/160. Until the exchange rate improves, high prices are all that we have....
 
The price for that camera will drop slightly, just before the next model comes along.
But in general Cameras will not fall in price to the old levels.
 
grahamc said:
The prices are bad here because of the poor exchange rate...The YEN used to be in the 200s its now around 150/160. Until the exchange rate improves, high prices are all that we have....
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even when they improve I doubt we'll see prices fall in any meaningful way. People have proved they will pay the higher prices across the board. A price cut will reduce a suppliers sales to zero once its announced (would you pay £1,500 for a lens when you know it will be £1,200 in a fortnight), and it will also have a major impact on the value of stock held, both by Cannon and Nikon and resellers - I can imagine the reaction from resellers or hire companies when their stock is reduced in value by 1/3 at a stroke, not to mention the bad feeling from individuals who've invested in that kit.
I think the best we can hope for is an erosion of prices due to inflation.

Hugh
 
Nikon won't actually have to reduce their prices in Japan for the prices to reduce in the UK.

If a D3 is 500,000Yen in Japan then at an exchange rate of 160 it'll be sold for £3,125 in the UK. As soon as the exchange rate improves to 200 then that's only £2,500 in the UK. either way Nikon get their 500,000 Yen.

So, if the exchange rate improves then it is possible that prices in the UK may fall again but I wouldn't hold mt breath. You may find UK retailers holding their prices to increase their profits to make up for the losses during the recession.
 
-Rob- said:
Nikon won't actually have to reduce their prices in Japan for the prices to reduce in the UK.

If a D3 is 500,000Yen in Japan then at an exchange rate of 160 it'll be sold for £3,125 in the UK. As soon as the exchange rate improves to 200 then that's only £2,500 in the UK. either way Nikon get their 500,000 Yen.
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you're missing that Nikon UK Ltd are a seperate company (although part of Nikon Worldwide) that buys products for the Uk market from the Japenese Parent (through Nikon Europe I believe) and its this entity that has increased its prices, (and has been absorbing changes in exchange rate for a while) - not the suppliers (WHE etc) buying direct from Japan.

Hugh
 
Nikon won't actually have to reduce their prices in Japan for the prices to reduce in the UK.

If a D3 is 500,000Yen in Japan then at an exchange rate of 160 it'll be sold for £3,125 in the UK. As soon as the exchange rate improves to 200 then that's only £2,500 in the UK. either way Nikon get their 500,000 Yen.



you're missing that Nikon UK Ltd are a seperate company (although part of Nikon Worldwide) that buys products for the Uk market from the Japenese Parent (through Nikon Europe I believe) and its this entity that has increased its prices, (and has been absorbing changes in exchange rate for a while) - not the suppliers (WHE etc) buying direct from Japan.

Hugh
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Have to agree with what you say, consider that all the resellers bought at say 150/160 exchange rate, they obviously wont want to loose money...

Its the same as the petrol price, once it goes up it never really comes down, no matter the exchange rate or the base cost. We are all willing to pay whatever the price is, so its extra profits for them, no reason to change.
 
If you want it, buy it - prices won't come down significantly til the 'next' model is announced anyway...
 
Arkady said:
If you want it, buy it - prices won't come down significantly til the 'next' model is announced anyway...
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and going by the last annoucement (D300S) I doubt they will come down that much...
 
Prices won't come down.

Prices have gone irrevocably up, and new pointless features (aka video) will be added to keep the new higher price points.
 
Don't forget about the rise in VAT back to 17.5% in January. Doesn't make that much difference but all prices will probably rise come January.
 
Thanks for all your input... I will be considering the D3 as it's the upgrade I've been looking to do but letting go of near on 3k, it has to be the right decision and a saving of £200+ when spending this much will so make a difference.. extra batteries and so on :)

Will consider the rise in VAT in Jan, maybe getting this sooner than I thought :)
 
daugirdas said:
There could be a big Boxing day sale if you get extremely lucky. More likely it won't get much cheaper than that due to high demand.
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I'd honestly kick myself if I bought the camera one week then a couple of weeks later it had dropped by a saving amount. But then if I keep thinking like this, I will entangle myself in a mess!

Will have to wait towards the end of the year which is why I thought I would ask the question...

Thanks again..
 
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