3

Lens is 4 years old but is well maintained, has no scratches, and looks new.

Canon point and shoot camera which I wish to sell has been discontinued and is 5 years old but is well maintained, has no scratches, and looks new.

How to determine the resale value of used lenses and camera bodies?
This means how to know whether I should expect 50% of the current MRP for these products or the 70% or whatever?

How to decide how much price to set?

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    Have you searched for what other people are selling them for on eBay or Craigslist, or similar sites? That might get you going in the right direction, and you can compare the quality of yours vs. theirs to see whether you should go higher or lower. – user1118321 Jan 19 '17 at 4:11
  • I check the price that keh.com posts then discount it a bit since i don't offer keh's guarantee. – gaston Jan 20 '17 at 18:51
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+100

The best method to price a lens is by seeing what the market value of the same used lens are. There are many different ways to determine the value across different platform. For each of these compare like for like, so as well as condition if you have a box/filter/hood/case/cds/leads/remaining warranty etc compare sold values to lenses with box/filter/hood/case/leads/remaining warranty etc.

  1. eBay. Probably the easiest way to check search for your lens used and finished bid. BUT eBay takes a cut.
  2. Classified adds website (e.g. Craiglist/gumtree)
  3. Camera shops selling used equipment. Definitly take these with a pinch of salt. They like a bit of a markup (saw a lens over the weekend the same as one I sold six months ago. It had a 40% price increase) but may come with a warranty/returns private selling won't allow.
  4. Get a value from a dealer selling used gear. One web based one in the UK (MPB photographic. (No affiliation)) gives a rough estimate based on information provided and pictures given, but a more detailed estimate if you send to them. They will sell these lenses on so that is how much they'll buy it for. Note not how much they will sell the lens for HOWEVER, the one time I have used one of these services, the amount they offered me was the same as I what I privately sold it for.
  5. Commission sale. Some used gear dealers will sell equipment based on commission, so they'll give you a value and then make a commission on selling it on your behalf.
  6. Facebook groups. Checkout local photographic facebook groups to your geographical area, many of these allow the selling of gear (some devoted). They're all private sales so no commission or increase.

One thing to remember with selling, there tends to be two options of selling. Selling for the ideal price. Or selling for a quick sale. Quick sales tend to be cheaper because the current owner wants the cash, where as selling for the price you want for it may take some time to shift it. If you want a quick sale, cash and none of the hassle. A user gear dealer is a good option.

There's also nothing wrong with pricing a lens at how much you think it's worth. Even though it's above the market value. Someone may pay that for it. There's nothing worse then selling something and later regretting it as you could have got more for it.

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    Though note the value may decrease with time, especially if a newer model is released. So maybe not worth waiting too long to get the 'ideal price'. – vclaw Jan 24 '17 at 12:34
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Over the years I have bought and sold many cameras and lenses. The key is to be competitive since, as they say, the value of something is what people pay for it.

For a camera or lens that is current and is still being sold new, I generally discount it 20-30% from the lowest retail price, excluding taxes. This means that buyers save up to 25% in Quebec where federal plus provincial taxes add up to around 15%.

For one which is not current, you have to establish the value of an equivalent camera. Something with the same sensor size and zoom, in case of a fixed lens camera. Then discount 20-30% from that.

Another control-point for setting sale price is to check what the same model is being sold for by other people. Some models have a better reputation and so get less of a discount compared to the current price, others more, specially if there was a major leap in technology since then.

Lens keep their value well and high-end ones can even be sold for more than purchased since many manufacturers raise their prices over time, until a replacement lens is announced at least. Again, what you have to aim for is that the buyer gets a nice discount for buying something that is out of warranty.

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Check eBay for 'sold' listings for the same items - that will show you what people are actually paying for them.

If there is a wide discrepancy, try to see why - an item might sell cheaply or with few bids if the seller is not willing to post and it is away from large population centres etc.

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