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Topic: Rent or Purchase Canon ef 500mm L II IS? (Read 6400 times)
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bmpress
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The new lighter Canon sounds very attractive to me because of its lightness, and I'm trying to figure out the economics of renting v. purchase for use over a five year period. Bob, do you have any idea how much this lens might depreciate over that time period? A used lens of the older model now sells for about what they cost five years ago. So if this holds out, then the real cost of purchase over a five year span would be the opportunity cost, meaning the lost interest. So, a lens costing $9,500 would mean giving up about $300 per year in interest.
Now such a lens rents for about $300 per month, and of course, you would only have it to use for one month per year. So if the pricing holds true with the new lens, am I wrong in concluding that it is much smarter to buy the lens and sell after five years because for the same price you would have it to use every day?
What do you think?
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Bob Atkins
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It's a gamble, but if you can aford it then it's usually better to buy it than rent it because you will always have it available. That means you'll use it more than if you had to rent it each time. The only downside is possible repair costs after the warranty has expired. The L series telephotos are generally very reliable though, so the chances of a repair being needed are low. See: EF 500/4L IS USM II Adorama for current price and availability status. It's impossible to predict prices. In the 80s you could buy a lens and sell it for more than you paid for it a few years later. It depends on the rate of inflation. However I'd expect a lens like the 500/4 to sell used for at least 80% of the new price after a few years. Currently inflation is low and with new lens I expect the price will be pretty stable for a while. |
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bmpress
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Good point about possible repairs. I am also interested in this lens, figuring on using it without a Wimberly, just on my ball head. That will cut down on the total package weight. I hope you get one to review, Bob. The lens is supposed to ship in May, but who knows at this point. That nuclear disaster seems on getting worse by the day.
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marcfs
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I have the current model of the 500 and it is hard for me to think about using it on anything but a Wimberley. With the Wimberley/camera correctly set up it makes shooting much easier. On a ball head shooting would be a real challenge.
Good luck!!
Marc
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Bob Atkins
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I use my 500/4.5L on an Arca Swiss ball head and I have no real complaints about how it handles. A Wimberly type head would be better for rapid tracking but I don't do a lot of that type of work.
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bmpress
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Thanks for your comments....just one more question please: Do any of the reputable vendors discount for professionals? And if not, do you think the price might come down a bit after some time?
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Bob Atkins
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I'm not aware of any pro discounts on Canon gear from any vendor.
The price may drop with time, but it's hard to say. The new 70-200/2.8L IS USM started out at $2499 last May, dropped a few hundred dollars over the rest of the year and it now seems to be back to $2499 - in fact I've seen a few places advertising it for around $2750 so you can't absolutely bet on the price dropping and staying down.
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