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Gear accounting

Discussion in 'Open Discussion' started by wjiang, Jan 10, 2016.

  1. How many of you do gear accounting?

    In anticipation of the imminent arrival of my first child and the lifestyle changes that will entail, I just picked up a used O12-40 after hum and hawing about it ever since it was released. I got it for 650 NZD (trading my O12-50 which was missing the original lens cap).

    Being such a high value item, I set about updating Lens Tag and insurance records... discovering that I hadn't done so in a long while. I got a shock when I looked at the total estimated value based on current new prices - about 9k NZD!

    :eek:  How much had I spent over these 2 years since getting into m4/3?

    Just under 6k apparently, after trawling through my records. A slightly more comfortable figure... boy, this hobby can get expensive.
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  2. Tony Rex

    Tony Rex Mu-43 Veteran

    Apr 6, 2015
    Melbourne, Australia.
    Tony Rex
    Congrats on the new acquisition, and all the best for the safe and happy delivery of the new bub.

    I don't do gear accounting. I have another obsession, so I'd go mad to think what I could've gotten instead of bits of glass and electronics that produce pixels.

    Looking at photos of my daughters, or better, looking at my 8yo eldest daughter's photos, made me think its all worth couple of grand. But then again, I almost fell ill when flipping one of my grail pens for the 300mm/f4 came across my mind. *shudder*

    So dollar unit is only good for insurance purposes, really. I'm sure others would disagree, but I'm also interested in hearing their side.
    Last edited: Jan 10, 2016
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  3. MichaelSewell

    MichaelSewell Mu-43 All-Pro

    Sep 1, 2015
    Burnley, UK
    Michael A. Sewell
    I had to have a clause in my business insurance to cover equipment carried in the car up to the value of £15k

    I could easily do a summary of costs, but I think I would find it upsetting, particularly as I run three studios and staff :crying:
  4. davidzvi

    davidzvi Super Moderator Subscribing Member

    Aug 12, 2012
    Outside Boston MA
    Do this professionally means I do this every year. But my m4/3 is just for fun, travel, and family stuff. I think it's about $1500 at most for replacement value.

    My Nikon FX kit and studio lights? A bit more than that. :whistling:;) 

    Edit: Actually just looked, probably closer to $2000 replacement since getting the E-M5 mkII and 14-150 mkII.
    Last edited: Jan 10, 2016
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  5. Ah yes... I forgot doing this professionally would involve a bit more routine accounting.
  6. BigTam

    BigTam Mu-43 Top Veteran

    Mar 19, 2012
    Dortmund, Germany
    I'm just an amateur, but I once did a spreadsheet which listed purchase price and date, current resale value or sale price for things I sold: gave me depreciation cost per year. Put everything in: cameras, lenses, tripods, flashes, bags, software, everything.

    You get a scary annual total.

    Then I counted the keepers and put them in to give me a cost per keeper. Much better! Just a few cents!

    Now I don't bother any more ...
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  7. MarkRyan

    MarkRyan Instagram: @MRSallee Subscribing Member

    May 3, 2013
    I have a spreadsheet. It...surprised me when I first calculated my expenses. Calculated by month, it's less than a gym membership. (Well, less than an expensive gym membership.)
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  8. bigboysdad

    bigboysdad Mu-43 All-Pro

    Aug 25, 2013
    Sydney/ London
    What makes my accounting bad is that I can't bring myself to sell any of my gear unlike a lot of you here. Just this deep seated fear of one day needing the lens I've sold and re-purchasing it.
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  9. I'm a bit like that... I've only ever sold stuff that became totally unused or superseded (O40-150R to P45-175, O12-50 to O12-40, E-M5 to E-M1, TCON-17 that was so heavy I never used it more than a few times, DMW-GWC1 that sucked on the lenses I had). I actually use everything else except maybe the 12-32 nowadays (I tend to just use the PL15 with the GM5), I kept it because my wife sometimes takes that combination out.

    It really surprised me that my gear was insurance valued at half the price of my car and climbing - car depreciates, gear (other than camera bodies) don't seem to so much if you get them used or as a good package deal.
  10. Aushiker

    Aushiker Super Moderator Subscribing Member

    Sep 12, 2014
    Fremantle, Western Australia
    Thanks for the heads-up on Lens Tag ... wasn't aware of this. Oh I keep a spreadsheet but then I do lecture in accounting :) 

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  11. Kalifornier

    Kalifornier Mu-43 All-Pro Subscribing Member

    Apr 29, 2014
    Congrats in advance for the baby!

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