1. Reminder: Please use our affiliate links for holiday shopping!

Used omd now or wait for the new body prices to drop

Discussion in 'Olympus Cameras' started by MRM, Aug 24, 2013.

  1. MRM

    MRM Mu-43 Regular

    108
    Jun 9, 2013
    Seattle, WA
    Matt
    Hi, this is my first post even though I have been looking at these boards for many months now. I have had a epl2 for since January and I have been looking to upgrade for some time due to the ergonomics of the epl2. Granted I got it for 250$ in January with the kit lens and have taken many beautiful pics, but i dont like the overall handling. I have been looking to upgrade since I played with a omd but I have resisted due to not wanting to pay full price for something that drops in value so quickly. I see used omd bodies for around 600 dollars and I was wondering if people think their will be a big price drop any time soon with the the stock of new omd em5 bodies.
     
  2. damnnit

    damnnit New to Mu-43

    7
    Jul 30, 2013
    El Monte, CA
    Michael
    Hi there,

    I'm new here myself. I think that the older E-M5 will not drop in price since the new one is priced almost $500(?) higher. There was recently that $100 rebate on the E-M5 recently. There are a lot of good looking E-M5s available on the forums today for $600ish, I would just do that and spend the extra money on lens.
     
  3. gochugogi

    gochugogi Mu-43 Veteran

    The E-P3 was $900 during Fall 2011 and Spring 2012. I saw it on closeout this summer for $200-300 at Adorama and Amazon. I don't expect the E-M5 to slide that low but it is bound to slide in the near future, especially if old stock abounds.
     
  4. jpark1982

    jpark1982 Mu-43 Regular

    57
    Aug 3, 2013
    I could see body only going used for around $500 by this holiday season but don't see them being a part of any fire sale anytime soon. New body only may drop to $700-750.
     
  5. uscrx

    uscrx Mu-43 Veteran

    440
    Aug 26, 2011
    Shasta Cascade
    Time is money but patience is virtue.

    Camera bodies depreciate.

    OM-D price will fall.

    Give it another 12 months and you'll see used OM-D for $300-$500. Or close to it.
     
  6. Steven

    Steven Mu-43 All-Pro

    May 25, 2012
    USA
    Good question. I am kind of in the same boat. I don't think EM5 prices will drop much further. The reason is that its image quality is still as good as any m43 camera and I just don't see people rushing to sell theirs just to get the new model with same sensor.
    It's possible that Olympus will reprice it, designating it as a more lower priced model and the new EM1 as the top of the line model. I am not sure if that will happen. We are sort of in uncharted waters here, as Olympus didn't have this many product lines of camera bodies before. but if it does happen, that would definitely drive down the prices.
     
  7. Promit

    Promit Mu-43 All-Pro

    Jun 6, 2011
    Baltimore, MD
    Promit Roy
    The E-M1 release should put a nice dent in the EM5 resale value...
     
  8. uscrx

    uscrx Mu-43 Veteran

    440
    Aug 26, 2011
    Shasta Cascade
    Olympus may not lower the price but the market price will drop.

    I bought a Canon 20D anda lens for $1,400.. then 30D came out...then 40D, 50D, and 60D..

    Now many years later...used Canon 20D can be had for $100 - $200.

    I bought a Canon 5D for $2,500 with 24-105... then 5DII came out.. now with 5DIII on the market, 5D can be had for $500 or so...

    And the next model was always an incremental improvement except 5DII's video.

    I did buy a 70-200mm f2.8 IS for around $1,300. I can still sell it for a similar price.

    My point is...manufacturers may set the original MSRP but the market will dictate the final price.

    And as with most digital camera bodies, Olympus E-M5 price will steadily come down at a natural log curve now that E-M1 is around the corner.

    Caveat...I don't mind used equipment..and I will pick up a used M5 and P5 in next 24 months and won't spend more than $300-$400 for each.

    :thumbup:
     
  9. Jonathan F/2

    Jonathan F/2 Mu-43 Hall of Famer

    Aug 10, 2011
    Los Angeles, CA
    I'd wait until the Holidays. The E-M1 will make it so.
     
  10. MRM

    MRM Mu-43 Regular

    108
    Jun 9, 2013
    Seattle, WA
    Matt
    Thank you for the suggestions. I already invested in lens and have the 14, 20 45 and 60 so I think I'm good there. I'm not sure if I want to wait a year as 12 months with the omd is worth 200 to 300 dollars in price difference that I would have in waiting. I guess I can wait for the holiday season for prices to drop. I think a lot of the resale value of the omd will be linked to how people like the new panasonic gx7 as it looks like it could be a good upgrade for the omd.
     
  11. demiro

    demiro Mu-43 Hall of Famer

    Nov 7, 2010
    I think you are right about the GX7. If it exceeds expectations it may knock the E-M5 prices down some. But I think you are even more right about what you lose if you wait. The E-M5 is a helluva camera for $600 (as it was for $1000). You've got some very nice lenses -- I think you will be very happy with the $600 spent now and the images you are able to produce now rather than some point when the used market adjusts again.
     
  12. uscrx

    uscrx Mu-43 Veteran

    440
    Aug 26, 2011
    Shasta Cascade
    :wink:

    You didn't ask if you should wait. You asked if we think the price will drop!!!
     
  13. MRM

    MRM Mu-43 Regular

    108
    Jun 9, 2013
    Seattle, WA
    Matt
    Haha you got me. I think i might have to get one soon. If i dont i might be temped by the new higher priced cameras comming out. I think I will start looking for a good deal. There seems to always be at least one for sale here.
     
  14. Steven

    Steven Mu-43 All-Pro

    May 25, 2012
    USA
    Pricing on Olympus high end m43 models has been pretty sticky in the past, even when they didn't have the best sensors like in the EP3. So, why would market pricing drop for EM5 which still has the best image quality plus other major features like weather resistance and IBIS? I say it will not drop unless/until there's a new model on the horizon that offers a major image quality improvement. so far it looks like EM1 is not that model.
     
  15. uscrx

    uscrx Mu-43 Veteran

    440
    Aug 26, 2011
    Shasta Cascade
    I don't know. Probably the same reason E-P1 price dropped and when P2 came out...and P2 price dropped when P3 came out...with no major improvement in picture quality.

    Used market is fickle. Used OM-D are already selling for $500 to $600 on ebay now..
     
  16. uscrx

    uscrx Mu-43 Veteran

    440
    Aug 26, 2011
    Shasta Cascade
    Newegg had new body at $699 briefly... then raised it back to $899 then $999.

    Will see what will happen when E-M1 is released.
     
  17. drd1135

    drd1135 Zen Snapshooter

    Mar 17, 2011
    Southwest Virginia
    Steve
    If new ones drop to $700-$750, used and refurb could drop to $500. In addition, as time goes by the used ones get "more used" with higher shutter counts. Notice the junkyard thinking on my part :redface:
     
  18. Clint

    Clint Mu-43 All-Pro

    Apr 22, 2013
    San Diego area, CA
    Clint
     
  19. jeffryscott

    jeffryscott Mu-43 Top Veteran

    505
    Jul 2, 2010
    Arizona
    People always want the latest and greatest, be it EM-1 or GX-7. I suspect prices for EM-5's will sink faster than some think as I bet a lot of people will be upgrading. At least that is what I'm hoping as I'd love a second EM-5 (no way will I be able to afford an EM-1 right now)

    Also, as more high shutter count OM-D's come to the used market, prices will drop. Although, I have been amazed at how D700's and until recently 5D classics have held their value, so maybe, just maybe, the OM-D will be like that, but I doubt it. I also doubt they will plummet like the GX-1 or G5, that would be great from a buyer's perspective if they did though:drinks:

    I'm hoping for 400-600 range by December:biggrin: