The exchange rate and UK price changes

markta

markta

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With the promising news that the pound is worth more against the dollar, not sure about the yen though, are UK retailers quick to pass on the savings?

I know that the old stock (purchased at higher price) has to go first, but are new order savings given to customers once stock is replenished.

Thanks :)
 
markta said:
With the promising news that the pound is worth more against the dollar, not sure about the yen though, are UK retailers quick to pass on the savings?

I know that the old stock (purchased at higher price) has to go first, but are new order savings given to customers once stock is replenished.

Thanks :)
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Unlikely, as the cost of oil has also risen, which should nicely cancel out any changes in the exchange rate.....
 
markta said:
With the promising news that the pound is worth more against the dollar, not sure about the yen though, are UK retailers quick to pass on the savings?

I know that the old stock (purchased at higher price) has to go first, but are new order savings given to customers once stock is replenished.

Thanks :)
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The USD has nothing to do with canon prices, unless you buy them from the states.
 
You must be joking! Once they get prices up (any excuse will do) they very very rarely drop them back to what they were before the price hikes. I'm tempted to say the NEVER drop them back to what they were before... but I'm sure someone would prove me wrong.

cheers
 
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The yen exchange rate has recovered a fair bit from the 52w low. I wouldn't assume prices won't come down...if distributors/retailers have to scope in their newly revived margin to start undercutting their competition, they will do.

That said, I wouldn't expect prices to go back down to what they were a year or so ago....and not start moving down for a good few months.
 
Yes, realistically to only thing this will help with will be buying things from the US especially software and the like that does not need to be actually sent out!
 
Dont buy the Iphone 3G from apple Uk £350 approx same phone on Apple US .com $99 that's one hell of a mark up, ripping off UK customers by approx £280.00 Unbelievable:thumbsdown:
 
Denisw said:
Dont buy the Iphone 3G from apple Uk £350 approx same phone on Apple US .com $99 that's one hell of a mark up, ripping off UK customers by approx £280.00 Unbelievable:thumbsdown:
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The iPhone3G is $199 so about £130 ISH....... I am getting mine for £84 with a contract. The $199 price is WITH an AT&T contract so another example of rip off America ;)

WITHOUT a contract the US price is $399 (8Gb) or $499 (16Gb)
 
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did you see what the UK energy companies did with the price of Gas?
 
If the dollar to pound rate climbs sufficiently again then it's well worth buying your gear from abroad (USA) again. For instance I was looking for some Denon headphones a year or two ago. They retailed at 500 pounds in the UK- but with 2.1 USD to the pound (+ a cheap online retailer) I got a pair for 230 quid, less than half the UK price! A year later with the same retailer they're still cheaper but the exchange rate makes them close to 400 pounds!

We get this problem all the time at work. Once it was dirt cheap to have all my machining work done in Taiwan. When the dollar hit 1.4 it became cheaper to have our metalwork made back in the UK again! Now the dollar's creeping back up again I'm borderline on transfering some work overseas again- which I don't like doing in this ecconomic climate.....
 
malla1962 said:
The USD has nothing to do with canon prices, unless you buy them from the states.
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Are you very sure ? Because my local independent would disagree with you, plus with most electronics and computer components, the prices are dollar pegged, not yen/stirling/euro/yuan dependant or what ever the local currency is.

Rough rule of thumb
Oil - dollars
Electronics - dollars
Diamonds - sterling
 
dapprman said:
Are you very sure ? Because my local independent would disagree with you, plus with most electronics and computer components, the prices are dollar pegged, not yen/stirling/euro/yuan dependant or what ever the local currency is.

Rough rule of thumb
Oil - dollars
Electronics - dollars
Diamonds - sterling
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LOL yes quite sure.
 
I am off to New York in 10 days and BH Photo will be getting a lot of my money.

Canon 70-200mm F/4L IS - $1025 (£671)
Canon 70-200mm F/2.8L IS - $1599 (£1047)
Canon 100MM f/2.8 Macro - $490 (£321)
Canon 100-400mm L - $1400 (£915)

All prices include NY sales tax. I will definately buy the 100mm Macro, and either the 70-200mm F/4 or F/2.8 (dependent on which "feels" the best on my 40D).

Just a shame the £ is only $1.65 and not the $2 it was at a little over year ago.
 
Orville said:
I am off to New York in 10 days and BH Photo will be getting a lot of my money.

Canon 70-200mm F/4L IS - $1025 (£671)
Canon 70-200mm F/2.8L IS - $1599 (£1047)
Canon 100MM f/2.8 Macro - $490 (£321)
Canon 100-400mm L - $1400 (£915)

All prices include NY sales tax. I will definately buy the 100mm Macro, and either the 70-200mm F/4 or F/2.8 (dependent on which "feels" the best on my 40D).

Just a shame the £ is only $1.65 and not the $2 it was at a little over year ago.
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Is there any international warranty coming with it when buying from US?
 
Orville said:
I am off to New York in 10 days and BH Photo will be getting a lot of my money.

Canon 70-200mm F/4L IS - $1025 (£671)
Canon 70-200mm F/2.8L IS - $1599 (£1047)
Canon 100MM f/2.8 Macro - $490 (£321)
Canon 100-400mm L - $1400 (£915)

All prices include NY sales tax. I will definately buy the 100mm Macro, and either the 70-200mm F/4 or F/2.8 (dependent on which "feels" the best on my 40D).

Just a shame the £ is only $1.65 and not the $2 it was at a little over year ago.
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I think if you have your passport, you may not have to pay the NY sales tax (but obviously check). Then send the paperwork back home by post ;)

How you getting to NY though Orville?

Thought you couldn't fly :D

Graham
 
blue max said:
I think if you have your passport, you may not have to pay the NY sales tax (but obviously check). Then send the paperwork back home by post ;)

How you getting to NY though Orville?

Thought you couldn't fly :D

Graham
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Its about 8% sales tax and there is no way out of it.
 
malla1962 said:
LOL yes quite sure.
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Well I'm not and hate to say this, but personally I think you're wrong about camera prices in this country being linked to the yen. For a start, I know for fact that the pound dropped by about 10 yen to just under 140 at it's worst in February, compared to ~150 when the financial troubles started, yet all camera prices have risen by a good 20% plus - which is comparable to the 20+% drop in value of the pound versus the dollar. Also the pound is now worth over 160 yen, which is more than over a year ago, yet there's been no indication of price drops.

Finally, when I first went to Japan, there was ~200 yen to a pound and camera prices were not to dissimilar to over here (April 2005). When I last went it was down to 150 yen to the pound (last May) yet camera prices were still comparable.
 
America charges local taxes on a State-by-State basis. New York is 8% and there is no way (which I am aware of) to avoid or reclaim it.

The big problem is if you get stung for import duties when bringing items back into the UK. I negate this risk by removing the items from their packaging and carrying them within a well worn camera bag. If anyone asks, they are used. On expensive items you can post the flatpacked boxes back to the UK if you really want to.

My wife works for an Airline so I get a limited number of free flights. All I have to pay are airport taxes as she usually fixes free hotel accomodation as well. We go shopping in New York about twice per year.
 
Orville said:
America charges local taxes on a State-by-State basis. New York is 8% and there is no way (which I am aware of) to avoid or reclaim it.

The big problem is if you get stung for import duties when bringing items back into the UK. I negate this risk by removing the items from their packaging and carrying them within a well worn camera bag. If anyone asks, they are used. On expensive items you can post the flatpacked boxes back to the UK if you really want to.

My wife works for an Airline so I get a limited number of free flights. All I have to pay are airport taxes as she usually fixes free hotel accomodation as well. We go shopping in New York about twice per year.
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Rather you than me :eek: Yes, import duties take the shine off it big style. Once you've paid them, you will be paying more than Kerso's prices, for legit imports with international warranty. (Kerso is currently £799 for a 70-200 4 L IS.)

If you try to avoid duty with some of the tactics you've outlined, you could be in big trouble. It's illegal, and you're effectively smuggling. Customs are very aware of what fluctuating exchange rates do, they know all the dodges and have heard all the excuses. They know where you've just flown from ;)

I was given a very hard time by customs a few years ago, coming in from the US with several expensive lenses and no proof or purchase. It was early on Sunday morning and I couldn't prove they were legit, so they confiscated the lot. They were duly returned, but if I had been cheating I would have lost them all and got a hefty fine, too.
 
I was in New York at xmas and B&H wanted to add the sales tax even though I said I did not live there so be careful to add that to your prices. here is what they say:
"We do not collect tax for orders shipped out of New York State. Purchases in our store are subject to an 8.375% local sales tax. This tax is not a VAT, and cannot be recovered by non-USA visitors when returning home."
 
dapprman said:
Well I'm not and hate to say this, but personally I think you're wrong about camera prices in this country being linked to the yen. For a start, I know for fact that the pound dropped by about 10 yen to just under 140 at it's worst in February, compared to ~150 when the financial troubles started, yet all camera prices have risen by a good 20% plus - which is comparable to the 20+% drop in value of the pound versus the dollar. Also the pound is now worth over 160 yen, which is more than over a year ago, yet there's been no indication of price drops.

Finally, when I first went to Japan, there was ~200 yen to a pound and camera prices were not to dissimilar to over here (April 2005). When I last went it was down to 150 yen to the pound (last May) yet camera prices were still comparable.
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Canon= Japan+yen canon sell there gear
in the uk and the yen needs to be converted back in to yen, the pound took
a dive against the yen long before the price hikes hit the uk as canon just took a hit for a while.I have no idea where you are getting the USD thing from. I have read loads of articles about the price hikes and every single one of them stated the yen was the problem and not one of the mentioned the USD. So maybe if you google it you may understand it a bit better.
 
malla1962 said:
Canon= Japan+yen canon sell there gear
in the uk and the yen needs to be converted back in to yen, the pound took
a dive against the yen long before the price hikes hit the uk as canon just took a hit for a while.I have no idea where you are getting the USD thing from. I have read loads of articles about the price hikes and every single one of them stated the yen was the problem and not one of the mentioned the USD. So maybe if you google it you may understand it a bit better.
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If Canon work the same way as Nikon then they are imported to the UK via Europe (Holland in Nikon's case) so the conversion goes Yen->Euro->Sterling, giving the British consumer a double kicking :annoyed:
 
I hope the prices will come down as they were before, so I can afford brand new items :p
 
Flash In The Pan said:
If Canon work the same way as Nikon then they are imported to the UK via Europe (Holland in Nikon's case) so the conversion goes Yen->Euro->Sterling, giving the British consumer a double kicking :annoyed:
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Why am I not surprised? :bang:
 
Flash In The Pan said:
If Canon work the same way as Nikon then they are imported to the UK via Europe (Holland in Nikon's case) so the conversion goes Yen->Euro->Sterling, giving the British consumer a double kicking :annoyed:
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Thats right but where does the USD come in to it?
 
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