Resale value of lenses

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Ferj

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Recently I had been put up for sale a lens I bought a year ago. When I bought it new I realised I would lose a bit on it but losing £300 on a £650 lens seems a lot.

I know private sales will always get you more but some well known trade in places offered me as little as £250 for it in near mint condition!

Obviously no one really buys camera kit as an investment as like most technology it's going to lose value. Maybe as it's not often I buy new kit so that's why I'm shocked, I guess it's a bit like buying a new car, but I've never done that...!

It made me wonder are there any lenses etc that hold value better, perhaps even though my lens was an Art series Sigma (18-35 f1.8) it lost value quicker than say a Canon L or Nikon equivalent would.

Ultimately I should (& I will) get out & use or abuse it rather than sell it at a huge loss bit it will make me question my next purchase! Thoughts?
 
I generally buy 2nd hand equipment, about the only time i don't is when i can buy new for similar price (usually from the Grey market), that in it'self won't be helping retail prices is you bought brand new UK stock as everyone compares used prices against the cheapest Grey price
 
Not surprised really. Most electronic goods fall rapidly and around 50% is probably a good rule of thumb for s/h private sales.

Of course the rarer and more exotic/pricey lenses will tend to hold better, but anything below a grand are generally going to lose value just like driving the car off the forecourt. Personally I would never be selling a lens within twelve months as that indicates inadequate consideration in the first place, unless it was being purchased for a special job, in which case renting might have been the better option.
 
@shreds I think you're right with the inadequate consideration! I did buy it after a lot of thought but my original plan didn't work out & my photography headed in a different direction and here I am. I'm not overly worried as I do love the lens and its not something I cannot use, I just need to be more creative with it & I needs to save up for the telephoto I want ;)
 
When a shop resells they have to take into account not only their profit but also the vat they have to add so, when they buy from you they are already discounting that from its value, you are going to take that hit not the shop. Every time I've sold something to a shop, whatever it was, I've felt scalped and even though I try to talk my expectations down they still surprise me.
 
There can be a huge difference in the second-hand value of different lenses. It does seem that Canon L lenses hold their value really well, while non-Canon lenses don't. I'm thinking of selling my Canon 300 f2.8 IS Mk1 and it looks as if I'll be getting about 95% of the price I paid for it new 7 years ago!
 
hollis_f said:
There can be a huge difference in the second-hand value of different lenses. It does seem that Canon L lenses hold their value really well, while non-Canon lenses don't. I'm thinking of selling my Canon 300 f2.8 IS Mk1 and it looks as if I'll be getting about 95% of the price I paid for it new 7 years ago!
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It depends what it is I guess, is it very desirable, rare, still current, etc... 24-105mm may be an L but doesn't demand big premium in a used market. However a recent L-series tilt and shift seems a bit too expensive s/h not to buy new. The best advice buying new is to wait for healthy cashback or another promotion, buy from the likes of HDEW or mint nearly new used. If you pay over the odds chances are you will lose out on resale, but hopefully it will still serve your business needs well.
 
Lenses hold their value much better than bodies!

The biggest hit is obviously the first time it is sold used. Expect a 25-50% loss there. The subsequent loss is much slower than bodies, but there is another big hit if a subsequent revision of a lens is released - everybody wants the newer version. Even colours can make a difference - Olympus originally released their MFT lenses in silver, and then later produced black ones of the same lens. The silver ones immediately dropped in value as the black ones were more sought after.

There is also "new model" and rarity premium, both for new and the first ones hitting the 2nd hand market. I got an Olympus 12-40 when they were still quite rare second-hand. Selling it a year later I took a massive hit - almost as big (in % terms) as if I'd bought it new, because the market is now flooded with them.

So, the key to this is - buy second hand, common lenses, and don't hang onto kit you're not using, because it will be losing value in that drawer. You can always buy it back (cheaper) later if you change your mind.
 
Well from my recent trades, ive noticed a bigger drop in bodies than lenses, even lenses that i have bought second hand haven't really held their value and i am running about 30% loss on the lenses i bought of here. However we are talking upto 5 years ago. All in all not too bad.
 
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