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Why Panny GX1 prices dropped so quickly ?

Discussion in 'Panasonic Cameras' started by Bhupinder2002, Apr 4, 2012.

  1. Bhupinder2002

    Bhupinder2002 Mu-43 Hall of Famer Subscribing Member

    Hi guys
    We all know that Panny GX1 came out only a few months ago and GX1 with 14-42 mm kit lens was around 799 and with PZ 14-42 mm kit lens it was around USD 999 marks. The body only was around USD 699 . Now within last 2-3 months its prices have dropped significanty . I think GX1 dropped price s much faster than any other MFT camera . Now u can get a body only for around USD 515,Any idea why it has happened ? I am not complaining as its good for us. But still just curious .
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  2. kinlau

    kinlau Mu-43 Top Veteran

    Feb 29, 2012
    Because it was over-priced? It was priced higher than a G3, and that comes with a very good EVF.
    • Like Like x 1
  3. cz9h3d

    cz9h3d Mu-43 Regular

    Jan 18, 2012
    SE Michigan
    Supply / demand! At least I'm sure this is what's driving it to a large part on the used market. As a new hot camera in short supply and high demand, prices initially start out high, sells for MSRP. Early adopters buy and try, then sell - as more and more are for sale, the price falls. As early demand is satisfied, retailers and / or Panasonic adjust the price to help keep sales moving.

    I'm not familiar with the photography industry and how prices have typically varied in the past - but there's nothing like a manufacturer looking to gain share and/or get rid of excess inventory to drive down prices.

    Looks like Panasonic USA has a $100 price reduction on the GX1 on their websit - which is also showing up on Amazon.

    As a Panasonic GF3 owner, I've experience a dramatic drop in price for this camera as Panasonic offered great deals over the past holiday, and Target and Best Buy were selling at very low sale prices. The market was saturated, which resulted in a lot of equipment on eBay, and the price just dropped (I know, I had a 2nd one to sell). A GF3 body now is $190 US for like new bodies.
  4. bongestrella

    bongestrella Mu-43 Veteran

    Sep 2, 2011
    Mechanicsburg, PA
    Considering how the GH2 was not available in most major stores even months after it was initially released and thus retained its intro-price for a while, I'm also surprised at that the GX1 is dropping in price this quickly. Maybe they overestimated their sales during production?
  5. speltrong

    speltrong Mu-43 Veteran

    May 8, 2011
    Northern California
    Probably because of holdouts like me who were all excited about it at first, but then realized it's not better enough than the GF1 to be worth the ridiculous upgrade price. I would have bought it if it had a tilt screen, built-in EVF, IBIS, and/or usable ISO 128,000. Seeing how it has none of that, and just adds more MP (read: space eaten up on my HD), and does a little better in low-light and is a little smaller, it's just so not worth it. The GF1 is a fantastic camera - it would take a lot more than an incremental upgrade to get my attention and $1,000.
    • Like Like x 4
  6. Ray Sachs

    Ray Sachs Super Moderator Subscribing Member

    Apr 17, 2010
    Near Philadephila
    Must not have been selling all that well. When a camera is selling faster than a manufacturer can (or will) make them, the price stays high. The Fuji X100 has been out for a little over a year now and its retail price held pretty steady that whole time. I'm guessing it may start to come down now that the X-Pro 1 is around, but it held its price and value longer than most. The EP3, EPL3, and EPM1 have been around since last spring/summer and I think they mostly held up pretty well, although I think there were some pretty crazy bargains on the EPM1 for a while. I'd imagine they'll all be coming down pretty quickly once the EM5 is on the street and particularly once the next generation of Pens is announced.

    With Pany, the GF1 held its value for quite a while, until a successor had been announced at least. The GH2 was rolled out terribly, with cameras really hard to find for many months. As a result the value stayed high (I sold one about 7-8 months after I bought it and only lost about $50 bucks on the deal - not a bad "rental" cost. Now, the supply is better and/or the demand has dropped (maybe due to EM5 and/or rumors of GH3) and the GH2 can be had pretty inexpensively.

    So either Pany made too many GX1's or they haven't been selling very well, which essentially are two ways of saying the same thing. So the price comes down. If they were selling to meet supply, it just wouldn't happen...

    • Like Like x 1
  7. Armanius

    Armanius Mu-43 All-Pro

    Feb 23, 2010

    My guess is that Pany overestimated the demand for a "real" GF1 successor.
  8. dhazeghi

    dhazeghi Mu-43 Hall of Famer

    Aug 6, 2010
    San Jose, CA
    While I agree the price was high, I hope that's not the conclusion they draw. The last thing we need is for them to decide to make only feature-crippled low-end consumer models in that form factor.

  9. songs2001

    songs2001 Mu-43 Top Veteran

    Jul 8, 2011
    It's Panasonic marketing. I remember last year Panasonic Facebook page was selling the GF2 at 200 off MSRP and the GF wasn't even readily available in stores yet.
  10. phrenic

    phrenic Mu-43 All-Pro

    Sep 13, 2010
    I wouldn't be surprised if they weren't selling that well. The price premium to pick one up with the LVF2 makes it very hard to justify over the G3 just for the form factor. I could be compelled if I could pick up the body and EVF for 6-700ish. :) 
  11. bongestrella

    bongestrella Mu-43 Veteran

    Sep 2, 2011
    Mechanicsburg, PA
    Maybe competition as well? The G3 is such a good buy regardless of what you compare it to. The em-5 has also been making waves even before its official announcement a few months back. So people are probably holding back on getting a slightly improved gf1, thus all these price drops.

    This is still not as big of a price drop compared to what some people are "predicting" when a new camera is released (read: wait a month or two and it will go down almost half its release price).
  12. Al.

    Al. Mu-43 Veteran

    Jul 3, 2010
    Hull, East Yorkshire, UK
    prices haven't dropped here in UK, on camera price buster site, the price is the same today as Mid february £429 for body only
  13. Armanius

    Armanius Mu-43 All-Pro

    Feb 23, 2010
    Amazon Best Sellers: best Compact System Cameras

    In Amazon US' best sellers, the GX1 makes its first appearance at #30. On the other hand, I do remember Amazon not having th GX1 in stock for extended periods of time while other big retailers like BH and Adorama did have them stock.
  14. Armanius

    Armanius Mu-43 All-Pro

    Feb 23, 2010
    I believe a lot of enthusiasts like myself were feeling quite nostalgic about the GF1, which in many ways, has/had almost achieved a "cult" figure like or icon status amongst many m4/3 users. The more Panasonic dumbed down the GF line with the GF2 and then GF3, the enthusiasts complained. The more complaints there were, the more the GF1 became an icon. It's hard to create something to succeed an icon.

    While the GX1 is clearly superior to the GF1/2/3, it was just underwhelming relative to the G3 (and GH2). As others already noted, the performance is fairly similar, but the G3 has a built-in EVF, articulated LCD, and is much cheaper. My guess is that the GX1 line would have sold much better at the launch price IF Panasonic had bundled the new EVF with it.

    Maybe Panasonic should have priced the G3 at about $700-800 (and kept the eye sensor for the EVF). In retrospect, I suppose it would/could have made sense for Panasonic to have a GH line priced at $1000+, G line priced at $700-800, GX line priced at $600-700, and GF line priced at $400-500.
    • Like Like x 1
  15. ggibson

    ggibson Mu-43 Regular

    Jul 9, 2011
    I'm surprised at the discussion in this thread... I don't think the GX1 has dropped in price much in the US. It's been out for almost 5 months now, and the largest discount I've seen is the recent $50 rebate.
  16. speltrong

    speltrong Mu-43 Veteran

    May 8, 2011
    Northern California
    It's the kit price that they're reacting to - it's down $100 with the 14-42, which is pretty substantial, and fast compared to when the GF1 first started dropping.
  17. crsnydertx

    crsnydertx Mu-43 Top Veteran

    Dec 31, 2010
    Houston, TX
    Tax season for many means a substantial refund check to spend on toys, so there may be an opposite effect!
  18. Bhupinder2002

    Bhupinder2002 Mu-43 Hall of Famer Subscribing Member

    Thanks Ray
    Thats what I was thinking , Olympus and most of Panny models are doing well . EP3, EPL3 and EPM1 havent dropped more than 50-100 . USD .Even Panasonic G3 and GH2 are holding well . GF3 lost some money but its not a flagship model . But I am happy as many of us can pick up this at a better price now .
  19. napilopez

    napilopez Contributing Editor

    Feb 21, 2012
    NYC Area
    Napier Lopez
    I think, as has been alluded to, that it's a combination of influence from the G3 and E-M5. The GX1 is really nothing more than a reformulation of the G3. Very slightly faster, very slightly better jpegs, slightly smaller, and a couple of more buttons. Yet it also loses an integrated EVF(adding the VF2 to the GX1 makes it larger than the G3, although still more portable since it's detachable), the articulated screen, and the(arguably) better handling. For the substantial price difference I think the GX1 just isn't as worth it as it seems.

    In fact, since the GX1 was announced it seems the G3 has had a popularity boost, since the peole buying the GX1 are enthusiasts, and they research their cameras before purchasing. Those people will read that it's not really substantially better than the G3 which costs a lot less, and they will buy the G3 instead. That's certainly what happened with me.

    Conversely, the other thing to consider is the advent of the E-M5. While many of the people who were gonna spend 800-900 dollars on the GX1 realized they could get equal performance from the G3 at 200-300 dollars less and went for that instead, another portion of the GX1's market probably figured that if were willing to spend so much money on the GX1, why not spend a little bit more on the E-M5? For a relatively small difference in investment, you get a camera that is weather sealed, has possibly the best m4/3 evf, substantially improved C-AF(by most, not all accounts), is still very small, has a tiltable screen, possibly better image quality, certainly better jpegs, better video, optional microphone accessories, a lot more controls, optional grips, the best image stabilization system ever seen outside of a physical support system, and that Oly charm many love?

    To me, the GX1 was always in a bit of an awkward position, particularly after the announcement of the OM-D. It was treading a middle ground where I think many people could see just as good or better options to it at either side of the price spectrum. The price drop helps make that less of an issue.
    • Like Like x 2
  20. iau

    iau Mu-43 Regular

    Dec 19, 2009
    Panasonic kit prices sometimes puzzles me. When the GX1 came out many people bought the kit with the 14-42 PZ and sold the body as "used but new". About the same time they were giving away a GF3 and the old 14-42 with the 14mm in a double kit, which led to a flood of "used but new" GF3s with 14-42mm.

    I bought the GX1 with the PZ and are thinking about selling it (due to little use), but prices on Panasonic cameras seems to drop like a brick. That being said, none of the stores here have lowered the prices for cameras in stock, but one has had quite a low price on the net but not in stock until May...
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