Massive L-Lenses Price Drops: 24-70 II for $1999 and More

Looks like a sale on L lenses might be on the horizon after all. We’re seeing a massive price drop at Best Buy with savings from $100 to $300 off L lenses, which undoes the price increase seen last month (and in some cases, goes even lower).

UPDATE: It looks like Canon just started a mail-in rebate for this time period, and Best Buy may have accidentally applied the prices as if it were an instant rebate. So this is a price mistake that might be fixed shortly. This might be an opportunity to see if you can double-dip the rebate — buy at the lower price — if Best Buy will fill your order — and still get the rebate. Example: buy 24-70 II for $1999, mail-in for the $300 rebate, net price: $1699.

UPDATE 2: Despite comments to the contrary, this deal is still live as of 6:30 PM ET. Best Buy is still showing the lower prices during checkout. Best Buy is an authorized dealer and thus the mail-in rebate should be valid for them. If you read the fine print on the Canon rebate form there aren’t any clauses that would exclude Best Buy or invalidate the rebate claim. (It’s Canon, not Best Buy, that is paying the rebate and they probably don’t care what the purchase price was.) That being said, please do try this at your own risk. 🙂

UPDATE 3: 11 PM ET: 24-70 II out of stock.

UPDATE 4: I (and several others) called the Canon Rebates hotline (1-866-668-9861) and asked about the Best Buy eligibility. According to the agent I spoke to, the list was not published yet but she felt that Best Buy would not be a valid retailer for this rebate (even though they are an authorized dealer). Shame on Canon for not being transparent about this on their mail-in rebate form.

UPDATE 5: The list is published and I’m getting conflicting information: according to the official rebate site, BEST BUY COMPANY INC. is on the list of participating retailers for this rebate. Here’s a link to the list. I’ve also included a screenshot just in case:


I called them again and they said the list was the official list and will not be changed, and if Best Buy is on the list, they are eligible. I recommend calling yourself to confirm: 1-866-668-9861.

Here are some of the drops we saw:

See deal archive for:
If you purchase something through a link on our site, we may get a small share of the sale (at no cost to you). Please read our disclosure for more info.

41 comments on “Massive L-Lenses Price Drops: 24-70 II for $1999 and More

  1. September 29, 2013 at 11:48 am EST

    Nic Smith

  2. September 29, 2013 at 12:05 pm EST

    That lens is way overpriced especially with no IS.

    1. CanonPriceWatch
      September 29, 2013 at 11:15 am EST

      I don’t disagree, especially since you can get the Tamron 24-70 VC for $999. At least the Canon has come down from the $2499 it was introduced at.

    2. September 29, 2013 at 1:45 pm EST

      when sigma comes out with the new 24-70 f2 then we can expect another drop from canon haha.

  3. September 29, 2013 at 12:45 pm EST

    It looks like Canon just started a mail-in rebate for this time period, and Best Buy may have accidentally applied the prices as if it were an instant rebate. So this is a price mistake that might be fixed shortly. This might be an opportunity to see if you can double-dip the rebate — buy at the lower price and still get the mail-in rebate.

  4. September 29, 2013 at 1:35 pm EST

    this looks super attractive~ but current price is still not as low as last thanksgiving, so i am wondering if it is possible to wait for the price to get even lower and then request for the rebate? after that the price would be, eg 70-200mm ($1999 last thanksgiving – $300 rebate=$1699?) compared to current $1899? thanks

    1. CanonPriceWatch
      September 29, 2013 at 2:09 pm EST

      There’s a chance that prices can continue go down. However, your best bet is probably the current Best Buy prices (likely a price error); they’re selling for $1999 before rebate right now, which becomes $1699 after rebate.

      1. September 29, 2013 at 3:09 pm EST

        thanks for your reply. i need one more answer from you guys to make my decision. btw, i am talking about 70-200mm is ii, not 24-70mm ii. current best buy price is $1899 and the lowest price from last year is roughly $1999 (from your price history chart). since there is a yellow marked region indicating there was a rebate during this period (last year), i want to know if the price of $1999 is before rebate or after rebate. if it was before rebate, then i’d like wait for the price to decrease even lower; but if it was after rebate, then the current best buy price would be really good. thanks for you guys ahead of time!

    2. CanonPriceWatch
      September 29, 2013 at 3:14 pm EST

      Tony: the prices on our price graphs are always after rebate. The cheapest that we’ve seen the 70-200 II (after rebate) was $1940 — I know because that’s when I bought mine. 🙂

  5. September 29, 2013 at 3:30 pm EST

    Could only find 3 L lens on Best Buy site

    1. September 29, 2013 at 3:34 pm EST

      Our blog has the links to all about 20 of them.

    2. September 29, 2013 at 3:59 pm EST

      Just ordered from Best Buy….now to get the rebate too

    3. September 29, 2013 at 4:08 pm EST

      Nice. Which lens?

  6. September 29, 2013 at 4:07 pm EST

    Yeah, it looks like this was short lived and the prices are back up to normal. Sad day.

    1. CanonPriceWatch
      September 29, 2013 at 5:28 pm EST

      I’m still seeing the prices at the lower price — note that Best Buy will show you the pre-rebate price, then you need to mail-in for the rebate (and additional) savings.

  7. September 29, 2013 at 4:10 pm EST


  8. September 29, 2013 at 3:23 pm EST

    just got the 24-70 ii from bb, actual savings is about $123 because of the $177 tax. now to sell the original 24-70.

    1. CanonPriceWatch
      September 29, 2013 at 3:25 pm EST

      Ouch on the tax — wait until they fill your order for sure before selling the 24-70 mk I 🙂

      1. September 29, 2013 at 11:04 pm EST

        I remember seeing your suggestion of opting for in store pick up to increase the chance of bb fulfilling my order, but I don’t see that comment anymore? Also, since shipping option is OOS now, would bb even still fulfill my order or any new orders of in store pick up?

    2. CanonPriceWatch
      September 29, 2013 at 11:10 pm EST

      What I’ve done in the past at BB when I think the price may get cancelled is use the “reserve for store pickup” when the store has stock of an item. Next best is shipping directly to your house as it’s doubtful they’ll recall it when shipped. Third best is shipping to a store, as it’s in their hands and they can cancel it until you pick it up.

      Shipping is OOS so you can only find it in-stock at existing stores. I deleted the comment I had previously after doing a bit more legwork and realizing that for most lenses on that list stores didn’t have any local stock. The exception of course is some of the really popular ones (the line of 70-200s, for example.)

      After this leaked to some deal forums this evening (Hello if you’re visiting from there!) the 24-70 II sold out pretty quickly.

      1. September 30, 2013 at 12:07 pm EST

        man i opted for in-store pickup instead of shipping after reading your recommended comment, now the status is still showing in process, i have a great feeling bb will cancel my order based on previous experiences. it’s ok if they do cancel it, i’ll just buy from the other guys that would guarantee the rebate instead of the questionable one from bb.

      2. September 30, 2013 at 2:45 pm EST

        so i’ve just canceled my order with BB cuz i wanna take another chance and wait until tomorrow to order again, my discover card has a 5% cashback with all purchases shopped through online starting Oct 1st, so that’s 2×5% ($200 total bonus) going through shopdiscover. hopefully bb would still have the 24-70 listed as $1999.

  9. September 29, 2013 at 4:46 pm EST

    Ooo~drool~? $300 Rebate?

  10. Kenneth Hodges
    September 29, 2013 at 5:00 pm EST

    Is the Best Buy price really a mistake? As I read the rebate rules, it is for lenses purchased through Canon authorized retailers, and I don’t see Best Buy on the list. I don’t know whether to rush to purchase or not.

    1. CanonPriceWatch
      September 29, 2013 at 5:16 pm EST

      Best Buy is an authorized dealer. Their official name is “Best Buy Company Inc.” on page 3 of the dealer list.

      Also, the rebate website ( accepts Best Buy as one of the retailers when you presubmit your rebate.

  11. September 29, 2013 at 5:49 pm EST

    Just picked up the 70-200 f/4 IS. $1149 + NJ sales tax. should be $1030 after mail in rebate. Thanks for the great catch!

  12. September 29, 2013 at 7:08 pm EST

    Don’t forget to use your credit card rewards program, i.e.: Discover credit card offers 5% cash back for Best Buy purchases made online 🙂

  13. iscream
    September 29, 2013 at 7:21 pm EST

    The MIR from adorama is a bit different from the one from BH. It says “Limit 1 Claim per lens per household – Claim form may include separate purchases of different lenses.” Not sure what it means. Can only get 1 lens with rebate?

    1. CanonPriceWatch
      September 29, 2013 at 7:25 pm EST

      I believe it means that you can buy only one of each lens. You may want to contact Canon / the rebate processor through the phone number at the bottom of the form to clarify.

  14. September 29, 2013 at 8:27 pm EST

    Too bad the 2x Extender is not included.

    1. CanonPriceWatch
      September 29, 2013 at 10:25 pm EST

      There’s a $50 instant rebate that just started on the 2X extender. It’s $449 now.

  15. CanonPriceWatch
    September 30, 2013 at 7:46 am EST

    I called Canon’s rebate processor support hotline, for extra confirmation that Best Buy is valid for rebate. Apparently they have not received (from Canon) detailed information about the lens rebate yet, other than knowing it exists — they’ll need 5 business days before they even know the details about the rebate.

  16. Henry S.
    September 30, 2013 at 10:19 am EST

    Just got a call from BestBuy to verify my order. I guess they will fill it.

  17. Eric
    October 1, 2013 at 12:01 pm EST

    My order with Best Buy is shipped today.

  18. Matthew
    October 1, 2013 at 6:58 pm EST

    I ordered mine yesterday and it said that it is on its way to the store. That was fast.

  19. October 23, 2013 at 8:08 pm EST

    For those wondering, I just received a rebate – $300 AmEx card, after purchasing the 24-70mm 2.8 at Best Buy.
    Thank you for posting this deal!

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