Several CPW readers have written in to ask questions about the Canon price increase, so here’s an impromptu Q&A session!
Q: When will refurbished prices go up? [Another website] mentioned that future refurbished prices will also go up as a result of the price increase. Do you know when this will happen and how much they will go up?
A: Those other websites are unfortunately inaccurate. Refurbished prices have already gone up. Typically, “regular price” for refurbished is is pegged to either 80% (historically) or 90% (all recent arrivals, including RF lenses) of the pre-rebate MAP price. With a $100 increase, we see a $80 or $90 increase to the refurbished price:
- Refurbished RF 100-500mm F4-7.1L IS USM increased to $2609.00 (from $2519)
- Refurbished RF 600mm F11 IS STM increased to $638.99 (from $549)
- Refurbished RF 800mm F11 DO IS STM increased to $798.99 (from $709)
Q: Do you think this is a temporary price increase? Will we ever see prices come back down again?
A: This is speculation on my part, but the various price increases we’ve seen in the last years are probably the “new base” price for these lenses going forward. It’s likely costing Canon more to procure inputs, manufacture, and distribute these lenses at the moment. While some of the extra cost (e.g. premiums due to chip shortage, container shipping) may diminish after the pandemic, I would guess that the bulk of the increase — and thus, these prices, will remain.
I’m sure there will be future deals and rebates once supply improves, but it will take some patience to get there. I’m hoping, but not too optimistic that there will be an end-of-2022 deal season. If you see yourself getting good value from a recently released camera or lens over the next 12-18 months, you may as well buy now, as I really don’t think we’re going to see stellar deals over that time period.
Q: How can I buy at the old price?
A: Amazon is still listing some items at the old price (for now). They’ve already increased the price on the RF 100-500L, unfortunately.
- RF 70-200mm f/4L IS USM for $1599.00 at Amazon
- RF 600mm F11 IS STM for $699.00 at Amazon
- RF 800mm F11 DO IS STM for $899.00 at Amazon
The above may be true for those lense… BUT, the RF 100-500mm did go up on Amazon
Yes, it went up this morning. It was at the old price for over 24 hours.
Competition is the X factor that impacts pricing. It may take a while for supply chain in the camera industry to improve, but once it does, I don’t expect Canon to get away with comfortably padding their MAP pricing forever. Sony will be pushing them hard and it is only a matter of time before the likes of Tamron and Sigma reverse engineer RF and start pumping out value alternatives to first-party lenses. Look what has happened to Sony lens pricing once the floodgates opened on third-party lenses.
Sony reacts much differently than Canon in terms of pricing and product competition. Canon is very reserved and this approach has kept them at the top of market share fr a very long time. Maybe not the sexiest method but great for shareholders.
CANON is making rethink my photography hobby. I have few L lenses and will use them until they no longer work, but they are making it hard for me to justify replacing them. I guess I am not their target consumer.
The good thing is those lenses will probably work for a very long time… and also keep on going up in value, Canon lenses are still incredible investments.