As previously posted, Canon has now instituted a price drop on 24 lenses, including most of the popular lenses. A large drop (up to $800) was seen on super-telephoto lenses. Our street prices on lenses have already been lowered as a result of this drop. This is a permanent price drop, not an instant or mail-in rebate.

We’re also seeing a new instant rebate on the EOS-1D X. This has also resulted in a new street price of $4899, the lowest seen yet.

New Instant Rebate

• $700 Instant Rebate on EOS-1D X, now $5299 (street price now $4899)

Price Drop on Primes

• $150 Price Drop on EF 14mm f/2.8L II USM to $2099 (street price now $1949)
• $100 Price Drop on EF 24mm f/1.4L II USM to $1549 (street price now $1439)
• $100 Price Drop on EF 50mm f/1.2L USM to $1449 (street price now $1349)
• $100 Price Drop on EF 85mm f/1.2L II USM to $1999 (street price now $1849)
• $50 Price Drop on EF 135mm f/2.0L USM to $999 (street price now $919)
• $30 Price Drop on EF 200mm f/2.8L II USM to $749 (street price now $709)
• $300 Price Drop on EF 200mm f/2L IS USM to $5699 (street price now $5199)
• $20 Price Drop on EF 300mm f/4.0L IS USM to $1429 (street price now $1279)
• $500 Price Drop on EF 300mm f/2.8L IS II USM to $6099 (street price now $5799)
• $20 Price Drop on EF 400mm f/5.6L USM to $1319 (street price now $1169)
• $500 Price Drop on EF 400mm f/2.8L IS II USM to $9999 (street price now $9199)
• $500 Price Drop on EF 500mm f/4L IS II USM to $8999 (street price now $8349)
• $500 Price Drop on EF 600mm f/4L IS II USM to $11499 (street price now $10199)
• $50 Price Drop on EF 100mm f/2.8L Macro IS USM to $899 (street price now $849)
• $100 Price Drop on EF 180mm f/3.5L Macro USM to $1399 (street price now $1299)
• $100 Price Drop on TS-E 17mm f/4L to $2149 (street price now $1999)
• $100 Price Drop on TS-E 24mm f/3.5L II to $1899 (street price now $1799)

Price Drop on Zooms

• $100 Price Drop on EF 8-15mm f/4L Fisheye USM to $1249 (street price now $1049)
• $100 Price Drop on EF 16-35mm f/2.8L II USM to $1599 (street price now $1469)
• $100 Price Drop on EF 16-35mm f/4L IS USM to $1099 (street price now $1049)
• $40 Price Drop on EF 17-40mm f/4L USM to $799 (street price now $749)
• $100 Price Drop on EF 24-70mm f/2.8L II USM to $1899 (street price now $1729)
• $100 Price Drop on EF 70-200mm f/2.8L IS USM II to $2099 (street price now $1899)
• $100 Price Drop on EF 70-200mm f/4L IS USM to $1199 (street price now $1049)
• $100 Price Drop on EF 70-300mm f/4-5.6L IS USM to $1349 (street price now $1249)
• $800 Price Drop on EF 200-400mm f/4L IS USM Extender 1.4x to $10999 (street price now $9999)

Price Drop on Teleconverters

• $20 Price Drop on Extender EF 1.4x III to $429 (street price now $415)
• $20 Price Drop on Extender EF 2x III to $429 (street price now $415)

We’re hearing that Canon will be instituting another “permanent” price drop on 20+ lenses on Sunday. The price drops on most lenses will range from $20 to $100. There will also be a price drop on super-telephotos, anywhere from $300 to $800.

Our street prices have already been lowered to include the price drop. Here are some of the best drops and new street prices (vs. the new MAP), with no need for mail-in rebates:

• $100 drop EF 24-70mm f/2.8L II USM for $1729 Street Price (vs. $1899 MAP)
• $100 drop: EF 70-200mm f/2.8L IS USM II for $1899 Street Price (vs. $2099 MAP)
• $100 drop: EF 16-35mm f/4L IS USM for $1049 Street Price (vs. $1099 MAP)
• $50 drop: EF 100mm f/2.8L Macro IS USM for $849 Street Price (vs. $899 MAP)
• $100 drop: TS-E 24mm f/3.5L II for $1799 Street Price (vs. $1899 MAP)
• $800 drop: EF 200-400mm f/4L IS USM Extender 1.4x for $9999 Street Price (vs. $10999 MAP)
• See our full list of street prices…

We’ll post more details as they become known. We’re also expecting a corresponding reduction in the refurbished price, as the refurbished price at the Canon store is pegged at 80% of the new MAP price.

It’s nice to see these price changes, they are the third permanent price drop on lenses in seven months; the first big price drop happened in August 2014, thanks to a strong US dollar appreciating against the Japanese Yen. The dollar has continued to strengthen, leading to another round of price changes, required for Canon USA to fight off the grey market.