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Very poor px values on trade-in cameras

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tocketts
tocketts  3 United Kingdom
30 Oct 2013 - 1:58 PM

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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30 Oct 2013 - 1:58 PM

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Sooty_1
Sooty_1 Critique Team 31125 forum posts United Kingdom192 Constructive Critique Points
30 Oct 2013 - 2:41 PM

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
sitan1  5432 forum posts United Kingdom
30 Oct 2013 - 2:53 PM


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
779HOB  2988 forum posts United Kingdom
30 Oct 2013 - 3:03 PM

Value Basket (whoever they are)

billydo
billydo e2 Member 1077 forum postsbillydo vcard United Kingdom
30 Oct 2013 - 3:07 PM

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.

tocketts
tocketts  3 United Kingdom
30 Oct 2013 - 3:19 PM

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?

Last Modified By tocketts at 30 Oct 2013 - 3:20 PM
joshwa
joshwa ePHOTOzine Staff 3583 forum postsjoshwa vcard United Kingdom
30 Oct 2013 - 3:31 PM

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
Dann  125 forum posts
30 Oct 2013 - 6:49 PM

You have a D800 - and you bought a D2x!??

Last Modified By Moderator Team at 30 Oct 2013 - 10:42 PM
tocketts
tocketts  3 United Kingdom
30 Oct 2013 - 7:37 PM

The d800 was smashed so while it was going through the insurance process I got the D2x for 200. As a temp camera.

LenShepherd
LenShepherd e2 Member 62363 forum postsLenShepherd vcard United Kingdom
30 Oct 2013 - 9:38 PM


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.

Last Modified By LenShepherd at 30 Oct 2013 - 9:41 PM
tocketts
tocketts  3 United Kingdom
30 Oct 2013 - 10:08 PM

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
mikehit e2 Member 45781 forum postsmikehit vcard United Kingdom9 Constructive Critique Points
30 Oct 2013 - 10:30 PM


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.

tocketts
tocketts  3 United Kingdom
30 Oct 2013 - 10:48 PM

Hi Mike . Don't understand vat . How does he RECLAIM vat from buying it from me? I'm not vat reg .

Sooty_1
Sooty_1 Critique Team 31125 forum posts United Kingdom192 Constructive Critique Points
31 Oct 2013 - 12:30 AM


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

Last Modified By Sooty_1 at 31 Oct 2013 - 12:32 AM
Leif
Leif  9722 forum posts
31 Oct 2013 - 8:04 AM

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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