We continue to have a great street price deal on the EF 70-200mm f/2.8L IS II — the lowest price seen yet on this lens from an authorized Canon USA dealer. There is limited supply at our street price and we expect the price to go up once that supply is exhausted.

Through our street price program, you can save about $500 versus the cost of the newly announced EF 70-200mm f/2.8L IS III. The older version lens is a great deal, as optically and mechanically, the two lenses are nearly identical. The major differences in the new lens are better coatings (to reduce flare and ghosting) as well as a new exterior paint color.

Many readers ask if we expect further sales or discounts on the EF 70-200mm f/2.8L IS II. We don’t expect the price (brand new) to drop further. The current $300 instant savings on this lens is a good enough deal to sell out the remaining inventory of this lens. We find that most lenses will gradually sell out (after getting replaced), without the need for fire-sales or steep discounts. We also project a slight dip in price in the used market, as photographers with the Mk II version of the lens look to upgrade to Mk III.