Exciting and unexpected news: we hear that Canon is instituting yet another permanent price drop tomorrow, December 11th. Unlike their September price drop which was wide-ranging on 26 lenses, this price drop is very focused — only two cameras and two lenses — but they are the most popular ones.

This is a permanent price drop, not an instant rebate or mail-in rebate. This is extremely unexpected, especially in the middle of the busiest time of the year for camera retailers.

Below are the reductions in the MAP or (Minimum Advertised Price) that we’ll be seeing as of midnight tonight. (Note that the full reduction may not be seen in the street price, which is already more closely aligned to the true product cost.)

• $300 Price Drop on EOS 5D Mark III to $2799 AR (B&H, Adorama, Amazon)
• $100 Price Drop on EOS 6D to $1499 AR (B&H, Adorama, Amazon)
• $100 Price Drop on EF 70-200mm f/2.8L IS USM II to $2049 AR (B&H, Adorama, Amazon)
• $100 Price Drop on EF 24-70mm f/2.8L II USM to $1849 AR (B&H, Adorama, Amazon)

Another benefit of the price drop would be another reduction in the refurbished price, as refurbished prices are usually pegged at 80% of the MAP price. This means a $240 drop on the refurbished 5D Mark III and a $80 drop on the refurbished 6D, 70-200 II, and 24-70 II, as if they weren’t rare enough already.

We think the major reason for this price drop is due to competition from unauthorized dealers selling imports — as seen during the Black Friday / Cyber Week deals, authorized dealers were unable to compete with imports, who were undercutting their prices severely.