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Very poor px values on trade-in cameras


30 Oct 2013 1:58PM
I'm amazed at the value given on my D800 against a D3s.
I dropped my D800 and had to claim through my household insurance. Nikon reported that the camera was beyond economical repair and so I am awaiting the delivery of a new D800 today.
While my claim was being processed I bought a D2x, I was so impressed with it that I thought of trading in the new D800 against a used D3s. I've tried several companies and the px value I was quoted was 1200. This was for a brand new unopened D800 !
I have decided to now keep it rather than let it go for this. I know dealers have to make a profit but I think these quotes were very much in the dealers favour.
That's my little rant over with for the day, dummy firmly back in mouth so off to take some photos.Wink

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Sooty_1 e2
4 1.3k 203 United Kingdom
30 Oct 2013 2:41PM
Considering you can buy a new one from under 1600, that isn't that bad for (what is to them) a secondhand camera.
Of course it's in the dealers' favour, they have to make a profit, and you are under no obligation to take them up on their offer, especially as the prices will no doubt be dropping soon as the camera has been out a while now.

Nick
sitan1 6 564 United Kingdom
30 Oct 2013 2:53PM

Quote:Considering you can buy a new one from under 1600, that isn't that bad for (what is to them) a secondhand camera.
Of course it's in the dealers' favour, they have to make a profit, and you are under no obligation to take them up on their offer, especially as the prices will no doubt be dropping soon as the camera has been out a while now.

Nick


Where can you buy a D800 for under 1600 then ?
779HOB
2 1.1k United Kingdom
30 Oct 2013 3:03PM
billydo e2
11 78 United Kingdom
30 Oct 2013 3:07PM
The dealers have got to make a commercial profit from transactions.... they aren't charities. I know one independent "used-dealer" local to me and his MONTHLY advertising costs via the endless magazines amounts to well over 1K. Add on all the other running costs and you can be begin to see how many sales are needed just to stand still, let alone make a living.

Take the D800 to one of the dealers and sell it on commission... that's the best was of maximising your return.


Neal.
30 Oct 2013 3:19PM
Quote: Considering you can buy a new one from under 1600, that isn't that bad for (what is to them) a secondhand camera.
Of course it's in the dealers' favour, they have to make a profit, and you are under no obligation to take them up on their offer, especially as the prices will no doubt be dropping soon as the camera has been out a while now.

1600 are these 'Grey Imports' come from Hong Kong?
joshwa e2
4 710 United Kingdom
30 Oct 2013 3:31PM
You could try here:
http://www.ephotozine.com/classified-ads

Then you don't have to pay the 10% ebay fees (up to a maximum of 75), or the 3.4% paypal fees etc if you did sell it on the auction site.
Dann
1 222
30 Oct 2013 6:49PM
You have a D800 - and you bought a D2x!??
30 Oct 2013 7:37PM
The d800 was smashed so while it was going through the insurance process I got the D2x for 200. As a temp camera.
30 Oct 2013 9:38PM

Quote: I was quoted was 1200. This was for a brand new unopened D800 !


May be you are overlooking that when the dealer sells the camera he has to pay 20% VAT on the 1200 he paid you, as well as on his mark up.
From the dealers point of view he is paying you 1,440, before any expenses which would likely include a credit card payment percentage.
From a buyers point of view the camera has been pre owned, the Nikon warranty is not transferable and the buyer cannot take advantage of Nikon's UK second year warranty or current cash back so it is worth less than the current new no previous owner price of around 1800 after cash back.
The dealer may make only 80 profit after deducting VAT from his mark up Sad
If sold on ephotozine you might do even better - though I would regard some-one saying they considered a D2x bought second hand as a better camera than a D800 with incredulity.
Several reputable dealers will sell it on commission with a reasonable prospect of 1250 - 1275 within a month.
If the camera is less than 2 weeks old and was bought mail order under the distance selling regulations you can get all your money back.
30 Oct 2013 10:08PM
Tthanks for your input Len . 3 points I'd like to answer. Dealers are in it to make a profit so I'm sure that a at would be passed on to the buyer, aswell as they claim back vat in other ways.
2. True that warranty isn't transferable. However as the d800 hasn't been registered yet this warranty wouldn't be a problem. There is nothing to say to the buyer that this camera is second hand.
3. Where did I say I thought a second hand d2x was a better camera than a d800?
thanks.
Rick
mikehit e2
5 7.1k 11 United Kingdom
30 Oct 2013 10:30PM

Quote:I was quoted was 1200. This was for a brand new unopened D800 !

May be you are overlooking that when the dealer sells the camera he has to pay 20% VAT on the 1200 he paid you, as well as on his mark up.



If I recall correctly he reclaims VAT on buying it from you, and pays VAT on the selling price, which in effect means he pays VAT on the profit.
30 Oct 2013 10:48PM
Hi Mike . Don't understand vat . How does he RECLAIM vat from buying it from me? I'm not vat reg .
Sooty_1 e2
4 1.3k 203 United Kingdom
31 Oct 2013 12:30AM

Quote:1600 are these 'Grey Imports' come from Hong Kong?


Not necessarily, but it won't really matter to most people buying a camera from a cheap source. It won't matter if buying secondhand either as the benefits of buying a new one (extended warranties, cash back deals etc) are gone anyway.

The dealer adds their vat component to the price they charge the buyer in order to offset the tax they have to pay on their profits.
If they bought a camera from you for any sum, they would have to add at least 20% to cover their tax bill from the sale of the item! then you have to factor in wages, premises, overheads, advertising and so on....as above, it isn't charity, so the margins are quite tight. Plus, if Nikon release a new model, the price of yours drops accordingly along with the desirability, so he won't want it hanging around unsold for long.

Most secondhand dealers used to buy in at 1/3 new value and sell at 1/2 to 2/3.....so your 1000 camera would be worth around 350 as a trade in, and would go on the shelf at around 600-700, dependent on desirability. Even a brand new, in its box, camera, as a trade in can't be sold as a new item.

Nick
Leif e2
9 722
31 Oct 2013 8:04AM
The best place to sell is on a forum such as this one, or on ebay although the latter takes 75 commission + 3.5% PayPal fees for high value items. You also need a good selling reputation to get a good price.

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