into_the_looking_glass wrote:
Well, it is not July 9th yet and the prices have already jumped more than 10%, which is the current tariff rate? Could Canon be price gouging here?
Sony, Nikon and a lot of other Japanese companies that have products made in Japan have already done price adjustments. From what I read companies are raising prices now as a preemptive buffer. Basically they are not waiting for the July deadline, citing anticipation of the full tariff burden.
into_the_looking_glass wrote:
Well, it is not July 9th yet and the prices have already jumped more than 10%, which is the current tariff rate? Could Canon be price gouging here?
The 10% tariffs on Japanese goods took effect on April 9. If a trade deal is not in place by July 9, the tariff rate goes up to 24%.
into_the_looking_glass wrote:
Well, it is not July 9th yet and the prices have already jumped more than 10%, which is the current tariff rate? Could Canon be price gouging here?
Just for some context and clarity:
1. Most increases were in line with 10% (or less, take for example the R1, which went up $500 to $6799, 10% would have been $6928). The VCM lenses went up by $100 each, despite original MSRPs of $1399-$1699 (5.9% - 7.1%). R5 Mark II returned to its original $4299 release price (which was just mid-2024)
2. What most people are interpreting as "more than a 10% increase" was the fact that Canon had Instant Rebates on many items, something they do annually every Mother's Day, Father's Day, Memorial Day, etc and those expired. Coupled with increased MSRP, people added the two in their minds to arrive at "greater than 10%".
3. The one item that does seem "out of band" was the R3, which went from $3999 to $5399. However because it is an aging model that may soon be seeing a Mk2, it was actually MSRP $4999 with a $1000 instant rebate (or maybe it was $4799 and an $800 rebate, I can't recall), and so what happened was the rebate ceased, and Canon increased the MSRP (if it was $4999 again it's less than 10%, but if it was $4799 it's a little more than 10%. As a reminder, the R3 was released at $5999.
4. I keep seeing "price gouging" being alleged. I do not believe this applies here, or to the camera market in general. This is from Wikipedia, but it's a generally accepted definition of price gouging:
"Price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair by some. This commonly applies to price increases of basic necessities after natural disasters. Usually, this event occurs after a demand or supply shock."
Key takeaways: commonly applies to basic necessities. Food. Fuel. Water. Basic supplies (e.g. toilet paper). Usually after a natural disaster (or pandemic). Usually after a demand or supply shock.
First: camera gear isn't a basic necessity. Second: there isn't a demand or supply shock. Third. it's not after a natural disaster, it's in response to tariffs which are on the books. Anyone who took Econ 101 knows who ends up paying for tariffs: consumers.
For more context, Jared Polin released a video today indicating that Nikon has also raised their prices. I can't confirm as I don't follow Nikon prices.
These are luxury goods that no one actually needs. It's quite bizarre that people are getting worked up about a minor price increase for something so frivolous.
Sure is sad to see the R1 price climb even beyond the overpriced Sony A1. Not sure how that's going to impact it's price. Ironically last week during the BILD thing going on with B&H for one day only they offered the R1 with an additional battery for $1000 less then it's current price. Many if I had tons of cash laying around would have jumped all over that. What a deal for those that might have indulged. Now it's too late by a long margin.
Might be just a snap for you, but many here it’s a hobby they dedicated decades of enjoyment and most likely look forward to decades more. Crazy prices are all relative…compared to what? Speed boats? Exotic vacations? High end golf clubs and golf fees?
As long as people enjoy their hobby and aren’t starving their kids to buy equipment…why does it matter?
dcisive wrote:
Sure is sad to see the R1 price climb even beyond the overpriced Sony A1. Not sure how that's going to impact it's price. Ironically last week during the BILD thing going on with B&H for one day only they offered the R1 with an additional battery for $1000 less then it's current price. Many if I had tons of cash laying around would have jumped all over that. What a deal for those that might have indulged. Now it's too late by a long margin.
There's a brand new USA model in which the receipt from an authorized dealer will be in your name on the B&S for $5,250... which is a steal.
Carlo_M wrote:
Just for some context and clarity:
1. Most increases were in line with 10% (or less, take for example the R1, which went up $500 to $6799, 10% would have been $6928). The VCM lenses went up by $100 each, despite original MSRPs of $1399-$1699 (5.9% - 7.1%). R5 Mark II returned to its original $4299 release price (which was just mid-2024)
2. What most people are interpreting as "more than a 10% increase" was the fact that Canon had Instant Rebates on many items, something they do annually every Mother's Day, Father's Day, Memorial Day, etc and those expired. Coupled with increased MSRP, people added the two in their minds to arrive at "greater than 10%".
3. The one item that does seem "out of band" was the R3, which went from $3999 to $5399. However because it is an aging model that may soon be seeing a Mk2, it was actually MSRP $4999 with a $1000 instant rebate (or maybe it was $4799 and an $800 rebate, I can't recall), and so what happened was the rebate ceased, and Canon increased the MSRP (if it was $4999 again it's less than 10%, but if it was $4799 it's a little more than 10%. As a reminder, the R3 was released at $5999.
4. I keep seeing "price gouging" being alleged. I do not believe this applies here, or to the camera market in general. This is from Wikipedia, but it's a generally accepted definition of price gouging:
"Price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair by some. This commonly applies to price increases of basic necessities after natural disasters. Usually, this event occurs after a demand or supply shock."
Key takeaways: commonly applies to basic necessities. Food. Fuel. Water. Basic supplies (e.g. toilet paper). Usually after a natural disaster (or pandemic). Usually after a demand or supply shock.
First: camera gear isn't a basic necessity. Second: there isn't a demand or supply shock. Third. it's not after a natural disaster, it's in response to tariffs which are on the books. Anyone who took Econ 101 knows who ends up paying for tariffs: consumers.
For more context, Jared Polin released a video today indicating that Nikon has also raised their prices. I can't confirm as I don't follow Nikon prices....Show more →
Nikon, Sony and others all have raised prices. From what I can see it looks like Canon and then Sony have the highest increases, percentage wise. There's still deals to be had, but you certainly need to look for them and they won't be like it was a few months ago.
robert_in_ca wrote:
There's a brand new USA model in which the receipt from an authorized dealer will be in your name on the B&S for $5,250... which is a steal.
Now you're here to haunt my dreams! To paraphrase Hotel California: "You can log out any time you like, but you can never leave."
People spend so much money on these side by sides to drive around on backroads, probably $10-20k+, yet another reason I've quit complaining about prices on here. And reading the fine print, one of the models in the Jeep ad 6 figures, new. So, a lot of people apparently have the money
On average I have dropped $8000-$10000 on any given camera setup body and lenses. Been through Olympus, Sony and Nikon so far now with Canon. At this moment Canon is tripping my trigger. Who knows what's around the corner in a couple more years. I know Canon is working on a ground breaking sensor with exceptional dynamic range and light gathering capabilities. I'm sure Sony and Nikon aren't asleep at the wheel either. There's some pretty amazing things ahead. Prepare your bank account.
Here's one picture I shot using my R100 and 800 f/11. That combination is easily handholdable. The bird was over 400' away. I love that basic camera
Jim
Canon EOS R100RF800mm F11 IS STM lens800mmf/11.01/800s800 ISO0.0 EV
Carlo_M wrote:
Just for some context and clarity:
1. Most increases were in line with 10% (or less, take for example the R1, which went up $500 to $6799, 10% would have been $6928). The VCM lenses went up by $100 each, despite original MSRPs of $1399-$1699 (5.9% - 7.1%). R5 Mark II returned to its original $4299 release price (which was just mid-2024)
2. What most people are interpreting as "more than a 10% increase" was the fact that Canon had Instant Rebates on many items, something they do annually every Mother's Day, Father's Day, Memorial Day, etc and those expired. Coupled with increased MSRP, people added the two in their minds to arrive at "greater than 10%".
3. The one item that does seem "out of band" was the R3, which went from $3999 to $5399. However because it is an aging model that may soon be seeing a Mk2, it was actually MSRP $4999 with a $1000 instant rebate (or maybe it was $4799 and an $800 rebate, I can't recall), and so what happened was the rebate ceased, and Canon increased the MSRP (if it was $4999 again it's less than 10%, but if it was $4799 it's a little more than 10%. As a reminder, the R3 was released at $5999.
4. I keep seeing "price gouging" being alleged. I do not believe this applies here, or to the camera market in general. This is from Wikipedia, but it's a generally accepted definition of price gouging:
"Price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair by some. This commonly applies to price increases of basic necessities after natural disasters. Usually, this event occurs after a demand or supply shock."
Key takeaways: commonly applies to basic necessities. Food. Fuel. Water. Basic supplies (e.g. toilet paper). Usually after a natural disaster (or pandemic). Usually after a demand or supply shock.
First: camera gear isn't a basic necessity. Second: there isn't a demand or supply shock. Third. it's not after a natural disaster, it's in response to tariffs which are on the books. Anyone who took Econ 101 knows who ends up paying for tariffs: consumers.
For more context, Jared Polin released a video today indicating that Nikon has also raised their prices. I can't confirm as I don't follow Nikon prices....Show more →
The specific price increase under discussion here would not have happened absent the ont thing that you would like to thing is irrelevant — the addition of current and the threat of near-future additions import taxes (AKA “tariffs”) on purchases in the United States.
The US GDP has declined already by .5 percent this year according to data released this week…
gdanmitchell wrote:
The specific price increase under discussion here would not have happened absent the ont thing that you would like to thing is irrelevant — the addition of current and the threat of near-future additions import taxes (AKA “tariffs”) on purchases in the United States.
The US GDP has declined already by .5 percent this year according to data released this week…
The problem for consumers and in these discussions.... is now that we have a national consumption tax (tariff if you prefer), consumers have no way to know the actual hit. Do I think Canon and all the makers took the chance to increase prices under cover of FUD - yeah absolutely. Do I know how much of one vs the tariff - not a clue since it's all secret.
We should be able to see the price + consumption tax + state sales tax (which is also a sales tax on the consumption tax since it's on the gross) = total.
gdanmitchell wrote:
The specific price increase under discussion here would not have happened absent the ont thing that you would like to thing is irrelevant — the addition of current and the threat of near-future additions import taxes (AKA “tariffs”) on purchases in the United States.
The US GDP has declined already by .5 percent this year according to data released this week…
Wait till this December and see how much the consumer has pulled back. It isn't going to be pretty.
fotografur wrote:
Wait till this December and see how much the consumer has pulled back. It isn't going to be pretty.
I fear you are right about that. Many businesses only become profitable via the holiday sales… and a whole lot of that stuff is imported. On top of that, by December we’ll be almost a year into this “experiment” and the nature and depth of the problems. we face is going to become undeniable.
