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fultonpics
New member
i had an used m8 for awhile but felt it was too 'rich' for my type of shooting and sold it quickly so as not to lose any money on it--i'm not in the rarefied financial position most here enjoy. as the prices drop close to $2k, it becomes a viable option again. i really enjoyed shooting with it, and i took it to places i would never take my D3's into. so this is goodness from my standpoint. i don't blow up pictures to poster size very often and try not to crop much--so limited resolution will work for me. it is a great tool for travel and as an 'extra' camera for pj assignments.
GrahamWelland
Subscriber & Workshop Member
So what are people getting for trade on M8.2 then, given a $3200 retail 2nd hand sale price?
GrahamWelland
Subscriber & Workshop Member
Good deal - $3200 for the trade sounds like a very decent price. Heck, I'd trade my chrome M8.2 for that!
R
Rob Martin
Guest
Digital ages badly, sorry for those dreaming they have "invested"
An M8 will be good buying at below $2K before long.
Some are still trying to flog them at premiums, but the buyers are few and far between.
Lenses are always steady price wise, but an old digital body ain't going to steam up a premiums buyers lenses (on his/her face) much at all.
People will buy them, but they are the ones wanting IR or have other back up requirements.
M9 looks good, will be an interest next few months as it unfolds.
I am not one for navel contemplation, but the M8 decision for me never sat right (as a buyer), but an M9 looks far more palatable. Price was never an issue for me, It was more a quality reality thing.
One might be tempted for an M8.2 @ 2K (United States Pesos) and that day is coming folks. Don't be fooled.
Cheers
Rob
An M8 will be good buying at below $2K before long.
Some are still trying to flog them at premiums, but the buyers are few and far between.
Lenses are always steady price wise, but an old digital body ain't going to steam up a premiums buyers lenses (on his/her face) much at all.
People will buy them, but they are the ones wanting IR or have other back up requirements.
M9 looks good, will be an interest next few months as it unfolds.
I am not one for navel contemplation, but the M8 decision for me never sat right (as a buyer), but an M9 looks far more palatable. Price was never an issue for me, It was more a quality reality thing.
One might be tempted for an M8.2 @ 2K (United States Pesos) and that day is coming folks. Don't be fooled.
Cheers
Rob
mwalker
Subscriber Member
I don't know what you mean by "don't be fooled". I'll assume you meant watch out for ebay. Dale, Camera West, Pop won't try to fool anybody. All are stand up companys. Maybe I'm reading your post wrong.
I doubt prices will fall (on a nice M8) that low until significant technology appears which could be who knows when. There isn't that much difference between a M8 and a M9 as far as IQ. Yes it is an advance (and I bought one) but not enough to drive down costs below two thirds of the purchase price.
I doubt prices will fall (on a nice M8) that low until significant technology appears which could be who knows when. There isn't that much difference between a M8 and a M9 as far as IQ. Yes it is an advance (and I bought one) but not enough to drive down costs below two thirds of the purchase price.
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glenerrolrd
Workshop Member
Mike Did they quote a trade in at $3200 or a market price of $3200. The prior deal at Dale was 80% of FMV . I watched this closely and I thought david got the market price exactly right. The 20% protected him on differences in condition etc and his margin came on the new body. Good strategy if you want to avoid selling it yourself .
This stuff reminds me of buying a car ..the differences appear insignificant in relationship to the total price. The bigger decision is "are you going to go to the M9 s "..if so you can only impact the cost by a few hundred dollars .
Anybody buying used is getting a great price if they buy at dealer trade in prices..which they will be able to do on this forum.
R
Ranger 9
Guest
After this discussion got going, I went back and re-read the chapter in behavioral economist Dan Ariely's book Predictably Irrational about the endowment effect. One of the real-world experiments he did was with Duke University students who had waited in line to participate in a lottery to be able to buy Final Four basketball tickets at student-ticket prices. After the drawing, he got a list of the winners (students who had been chosen to buy a ticket) and losers (students who had gone through the same process but had not been chosen.) He called all of them and said he was willing to try to match up anyone who wanted to sell a ticket with someone who wanted to buy one. He made equal efforts to get that "have-ticket" students to lower their asking price and the "want-ticket" students to raise their paying price.
What he found was that among the "want-ticket" students, the average price they were willing to pay for a ticket was $174. Among the "have-ticket" students, the average price for which they were willing to sell their ticket was $2,400! He said this is fairly typical of the results of his experiments with the endowment effect.
Note that the behavioral economists are not saying that would-be sellers are being stupid or that would-be buyers are being unrealistic. They simply do these experiments to point out that this is not the way that classical notions of economics predict that buyers and sellers would behave.
Ariely theorizes that "endowed" sellers think about the item they own in terms of the great experiences they've had, or expect to have, with it... while potential buyers think about it by comparing its cost to other types of experiences they could have for the same amount of money. It's this difference in how buyers and sellers think about the item for sale that accounts for the wide difference in seller and buyer prices -- which in his experiments has averaged about 17x.
I find it fascinating the way the "endowment effect" seems to be playing out in our estimates of where M8 prices eventually will settle. Again, the fact that there is an endowment effect doesn't mean that anybody is right or wrong -- it just means that buyers and sellers perceive the item differently.
A sobering byproduct of Ariely's Duke experiment: He never was able to mediate one single sale of a Final Four ticket! The endowment effect was so strong that he could not find any buyer who was willing to come down enough and/or any seller willing to come up enough to reach a price on which they could agree.
Of course basketball tickets have a built-in "shelf life" (after the game is over they have no value at all) whereas M8s will go on changing hands for years, so there's plenty of time for a "price consensus" to emerge. In the short term, though, it sounds as if there's going to be plenty of volatility. My guess is that if for some reason you need to sell an M8 in a hurry, there's a risk you'll be a bit disappointed in the price you can get, whereas if you need to buy one on short notice, there's a risk that you'll have to pay more than you expected.
What he found was that among the "want-ticket" students, the average price they were willing to pay for a ticket was $174. Among the "have-ticket" students, the average price for which they were willing to sell their ticket was $2,400! He said this is fairly typical of the results of his experiments with the endowment effect.
Note that the behavioral economists are not saying that would-be sellers are being stupid or that would-be buyers are being unrealistic. They simply do these experiments to point out that this is not the way that classical notions of economics predict that buyers and sellers would behave.
Ariely theorizes that "endowed" sellers think about the item they own in terms of the great experiences they've had, or expect to have, with it... while potential buyers think about it by comparing its cost to other types of experiences they could have for the same amount of money. It's this difference in how buyers and sellers think about the item for sale that accounts for the wide difference in seller and buyer prices -- which in his experiments has averaged about 17x.
I find it fascinating the way the "endowment effect" seems to be playing out in our estimates of where M8 prices eventually will settle. Again, the fact that there is an endowment effect doesn't mean that anybody is right or wrong -- it just means that buyers and sellers perceive the item differently.
A sobering byproduct of Ariely's Duke experiment: He never was able to mediate one single sale of a Final Four ticket! The endowment effect was so strong that he could not find any buyer who was willing to come down enough and/or any seller willing to come up enough to reach a price on which they could agree.
Of course basketball tickets have a built-in "shelf life" (after the game is over they have no value at all) whereas M8s will go on changing hands for years, so there's plenty of time for a "price consensus" to emerge. In the short term, though, it sounds as if there's going to be plenty of volatility. My guess is that if for some reason you need to sell an M8 in a hurry, there's a risk you'll be a bit disappointed in the price you can get, whereas if you need to buy one on short notice, there's a risk that you'll have to pay more than you expected.
kalex
Member
Ranger - pretty interesting read. thanks
However we also have to note the supply and demand. Sellers can ask whatever they want for it but it doesn't mean that buyers will buy it. if buyers don't buy, then sellers will be forced to lower their price. at the same time sellers would start offering M8s at fire sale prices to be able to afford M9 thus lowering the market value of the M8s. I remember this happened when D300 came out. Value of D200 dropped overnight.
so it would be interesting to see what happens to current M8 and M8.2 prices in a month or so
However we also have to note the supply and demand. Sellers can ask whatever they want for it but it doesn't mean that buyers will buy it. if buyers don't buy, then sellers will be forced to lower their price. at the same time sellers would start offering M8s at fire sale prices to be able to afford M9 thus lowering the market value of the M8s. I remember this happened when D300 came out. Value of D200 dropped overnight.
so it would be interesting to see what happens to current M8 and M8.2 prices in a month or so
glenerrolrd
Workshop Member
Thanks Mike ..
No one is "forced" to do anything unless they are desperate for money or don't care about money. One is a victim of their own "Wants 'n Gimmes", the other has so much money that it doesn't matter.
There will be an initial rush to buy the M9, but at 7K for the body alone, it'll be a sobering decision for those new to M digital work. 7K buys a lot of "something else".
As I process last weeks' work load, I'm reminded that the M8 is an extraordinary image maker ... which has nothing to do with internet chatter and wishful thinking, and everything to do with making photographs. The M8 didn't suddenly lose that ability overnight.
fotoism
Member
Well said!