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Will the price of the E-P3 drop now?

Discussion in 'Olympus Cameras' started by wlewisiii, May 15, 2013.

  1. wlewisiii

    wlewisiii Mu-43 Veteran

    233
    Dec 16, 2011
    Hayward, WI
    William Barnett-Lewis
    That the E-P5 will soon be here?

    I currently have an E-PL1 with VF3 and am pondering the possibility of moving slightly higher on the food chain later this year. But that will only happen if the cost of the E-P3 drops a fair bit. Anyone care to comment on that possibility?

    Sure, I'd love an E-M5 or E-P5 but that's not going to happen. The E-P3 seems a somewhat possible option and would be a fairly significant upgrade to my current body. The VF3 will work just as well as it does now.

    My hope is that by the time of my birthday at the end of September, I might be able to swing an E-P3 body, a 17/2.8 lens. & (for giggles) the 15/8 lens. More likely I'll just get the lenses and probably from KEH at that. But helps ease the GAS if one has goals even if unlikely :happy-084:
     
  2. DeeJayK

    DeeJayK Mu-43 Hall of Famer

    Feb 8, 2011
    Pacific Northwest, USA
    Keith
    The price of the E-P3 has been falling fairly steadily since at least the E-M5 introduction. I would expect that once the E-P5 becomes available that will put even more downward pressure on the value of the E-P3. I would expect we'll see the used E-P3s selling close to $200 (right now they're going for around $300) within the next 6 months barring major supply chain issues with the E-P5.

    As someone who started with an E-PL1 and upgraded to an E-P3 fairly recently, I can attest that the handling of the E-P3 is a big step up.
     
  3. pxpaulx

    pxpaulx Mu-43 All-Pro

    Jan 19, 2010
    Midwest
    Paul
    Although cameta camera is currently out of stock, they have the refurbished e-p3 at $369, it won't be going much lower than that anytime soon except maybe used. With the fast moving production and churning of newer bodies by olympus and panasonic, I think in general we'll start to find that the bodies generally fall into pricing in the low $100s for the entry levels (pl1, pm1), low-mid $200s for the pl3 and 300s for the p3 (the p1 and p2 are currently in the 1st and second categories as well). The pricing even of used equipment is going to stabilize around those levels as well, and will only drop when the next model is again replaced. There is also a fine line or window of value where people selling their cameras under $150 would rather keep or give them away to friends/family.

    So to answer your question, I don't see the e-p3 moving down below $300 (either used or refurbished) until the e-p7 is released. The only reason the e-p3 (as well as e-pm1 and e-pl3) went down in price quicker than usual is that with the newer replacement models (new e-m5, e-pl5 and e-pm2) had a significant step up in sensor quality (Olympus' first move from the 12mp sensor) the last models lost value quicker than usual.
     
  4. Steven

    Steven Mu-43 All-Pro

    May 25, 2012
    USA
    it's amazing how steady EP line prices have been. I noticed that ever since I was considering Ep2. But right now I am not sure why you wouldn't get something with newer sensor like Epm 2 instead. Price difference is not much but image quality over Ep3 should be great. You will not get any image quality improvement over Epl1 with Ep3.
     
  5. DeeJayK

    DeeJayK Mu-43 Hall of Famer

    Feb 8, 2011
    Pacific Northwest, USA
    Keith
    But isn't this precisely the case now with the E-P3? The E-P5 represents a true upgrade in almost every way (the only feature of the E-P3 that I will miss were I to upgrade would be the replaceable grip). While certainly some E-P3 users chose to move to the OM-D or even to the E-PL5/E-PM2 when those models were introduced with the new sensor, those cameras all either add (e.g. the OM-D's viewfinder) or lack (e.g. the lack of control dials on the E-PL5/E-PM2) significant functionality/features that the E-P3 has. The E-P5 seems like the first no-compromise upgrade from the E-P3, which certainly should make more E-P3's available on the used market, which should drive down the price.
     
  6. Uncle Frank

    Uncle Frank Photo Enthusiast

    772
    Jul 26, 2012
    San Jose, CA
    Frank
    The final sale has begun. Adorama is selling off the ep3 + 14-42 kit lens for $369, with free shipping. Sell the 14-42 for $100, and you'll have a brand new ep3 body for $269. At that price, why buy a used one?
     
    • Agree Agree x 1
  7. wlewisiii

    wlewisiii Mu-43 Veteran

    233
    Dec 16, 2011
    Hayward, WI
    William Barnett-Lewis
    It's my understanding that the E-P3 had significant improvements in AF speed and low light handling. Also, even though the sensor remains the 12.3 MP one there is the newer TruePic VI image processor over the version V in my E-PL1 which should improve IQ and make high ISO's much less of a gimmick than they are now.

    The E-PM2 is probably that much nicer. It's also at least $100 more & that eats my lens budget to nothing. As has been said, the perfect is the enemy of "good enough".

    I can probably live with the E-P3 coming down to $300 though I'll admit I'd be happy if I can find a used one that was a) cheaper and b) available when I had the money ;)
     
  8. Ned

    Ned Mu-43 Legend

    Jul 18, 2010
    Alberta, Canada
    You not only gain a turn dial, but two of them! Trust me, that will make a ginormous difference over the crappy push-button control system of the E-PL1, as will the nice 3" display. As nice as the images were from the E-PL1, the body design was incredibly stripped down.
     
  9. edwardconde

    edwardconde Mu-43 All-Pro

    Nov 8, 2012
    Los Angeles, CA
    I have 2 E-P3s.. Both purchased here from fellow members.. both purchased under $300... Both in like new condition... This model is by far my favorite of the bunch.. then I would say the E-PL2 is next cause its built like a tank.. and then the mini..

    I am sticking in the 3rd gen for a while... When the 5th gen comes down to bargain prices then I will upgrade.
     
  10. RevBob

    RevBob Super Moderator

    Jun 4, 2011
    NorthWestern PA
    Bob
    The other nice plus with the E-P3 is the touch screen. I didn't think I'd like or use it much, but I do. I also agree wholeheartedly about the extra controls. I use an E-PL3 as a second camera with my E-P3 (I like the tilt screen for low or high shots) but the control difference makes me crazy. :biggrin:
     
  11. pxpaulx

    pxpaulx Mu-43 All-Pro

    Jan 19, 2010
    Midwest
    Paul
    I think the exception to my model for the e-p3 is that it lost its most significant value to the lowest level when the e-m5 was released, as many considered it a successor or acceptable alternative and went with it rather than waiting for the e-p5 release (which has taken a full year since the e-m5).
     
  12. Luke

    Luke Mu-43 Hall of Famer

    Jul 30, 2010
    Milwaukee, WI
    Luke
  13. edwardconde

    edwardconde Mu-43 All-Pro

    Nov 8, 2012
    Los Angeles, CA
    It is possible that Olympus was waiting till the 50th Anniversary to release the E-P5 and to also make sure the feature advancements they put in the OM-D would work in body style of the PEN line...

    just a thought!

    :2thumbs:
     
  14. wlewisiii

    wlewisiii Mu-43 Veteran

    233
    Dec 16, 2011
    Hayward, WI
    William Barnett-Lewis
    That's good to see from a knowledge of the price point, Luke. But I haven't got that much saved in my toy account yet. Still that is what I'm hoping for by the end of summer, thank you.
     
  15. mh2000

    mh2000 Mu-43 Veteran

    254
    Jul 3, 2010
    I bought the E-P1 new when the E-P2 was released for about a 1/3 of initial release price. The E-P3 is doing about the same.

    Interestingly, there is a threshold price, as you say, and E-P1's still get a decent used price, just under $150. E-P2's are just over. Of course, there are those hopeful saps thinking they can get more... remembering how much they paid for the camera new on release and unwilling to accept the loss.

    As long as my E-P1 holds up, my plan is to wait until either OM-D or E-P5 drops to ~$350... and they will. (Don't need flash, VF or faster AF, so the upgrade to another 12MP body isn't going to give me much of anything).

    The good thing about rapid body upgrade schedule, if you don't suffer from GAS, is that you can buy the old model for a fraction of the cost of the new one... and we're at a point were sensors are not jumping in orders of magnitude with each new release.

     
  16. dhazeghi

    dhazeghi Mu-43 Hall of Famer

    Aug 6, 2010
    San Jose, CA
    Dara
    Kits are now under $400. I doubt they'll drop much more.

    But I'd really look out for a secondhand E-PL5 if I were in your shoes. The E-P3 looks nice, but you're not getting an improvement in image quality over your E-PL1. The E-PL5 on the other hand gets you everything.
     
  17. DeeJayK

    DeeJayK Mu-43 Hall of Famer

    Feb 8, 2011
    Pacific Northwest, USA
    Keith
    I disagree. I think the choice is between the improved ergonomics/controls of the E-P3 vs. the new sensor and tilty screen of the E-PL5. Throw in a couple hundred dollars in price difference, and my choice is the E-P3.
     
  18. fransglans

    fransglans Mu-43 Top Veteran

    991
    Jun 12, 2012
    Sweden
    gus
    Just bought Lightroom 4 and now with the sweat ORF files the e-p3 turned into something else, it feels like having a new camera! Yes I love my ep3 and for todays used prices it is almost a steal!
     
  19. pxpaulx

    pxpaulx Mu-43 All-Pro

    Jan 19, 2010
    Midwest
    Paul
    I wasn't necessarily reading much into the timing of the release so much as commenting on just how good of a seller the e-m5 was - people were waiting as much as a quarter of a year to get their hands on one, so whether the e-p5 was ready to go or not, I'm sure Olympus wasn't in any hurry with all the cash coming through the door.
     
  20. ccunningham

    ccunningham Mu-43 Veteran

    453
    Jul 23, 2010
    If you're happy with the IQ of your E-PL1, and just want the faster AF and better controls, etc., the E-P3 is a good option, that will be pretty affordable.

    Personally, I thought the biggest IQ challenge for the older Pens was particular low-light and high contrast scenes. It was weird because sometimes I could get away with 1250 or 1600, often not. Usually 800 looked good to me, but sometimes not.

    Outside of that, I thought the IQ looked fine(and still do since I use a 12MP body sometimes if the light is good, even though I'm lucky enough to have an E-M5. I completely agree with everyone that the 16MP sensor is A HUEG!!1!!!1!11!! improvement for those scenes that gave the 12MP trouble.) But if you aren't shooting in those difficult lighting conditions, you might notice less of a difference than others might.

    Of course having said that, as someone who owned and used an E-PL1, while I adjusted to using the controls, I never really liked them. As far as it might matter, from a handling standpoint I like the E-PL5 better than the E-PL1, but not as much as an E-P1/2/3 body. And you'll still get the faster AF on an E-PL5, your VF will work, etc. like the E-P3.

    Having said THAT, I still like the handling of E-P1/2/3/5(at least I assume I would from looking at it) better than the E-PL1/2/3/5 models. Not that the E-PL bodies are horrible, but I just like the handling/controls on E-P bodies better.

    Your mileage may vary. Sometimes it may vary quite a lot.