Wednesday, June 25, 2014

Craigslist Used Canon DSLR Postings, U.S., June 2014

This is a rundown of Craigslist asking prices for Canon DSLR bodies across the U.S. for June 2014. There aren't many surprises, but overall, prices are trending downward across the country (See the September 2013 survey for past results). The number of listings is trending upward, apparently in anticipation of new camera announcements later in the year at Photokina. If you are buying or selling used Canon camera equipment, hopefully this write-up will help you determine your target price and get you closer to your goal. The data is more indicative than it is prescriptive; it can't be extrapolated to any one given circumstance, but it does paint a broad picture of the used market.


Craigslist listings of major cities in all 50 states were examined from June 9, 2014 to June 23, 2014.  Because of the population density in states like New York and California, the average prices are weighted towards these states and large urban centers. This survey is not meant to be interpreted as a statistically significant sample. Inferences cannot be made from the used postings about trends in new camera sales. Nonetheless, because of the availability of pricing information via Craigslist and eBay, you can see that used prices usually cluster around a reasonably tight mean value, even when examined at the national level. In other words, unlike a test-book sample population, the subjects in the used camera market aren't truly independent of one another as many buyers and sellers are gravitating to the same sources of pricing information.

The information presented in this survey is for asking prices for listings, not necessarily single camera bodies.
Camera body-only prices may not exclude extras such as batteries, straps and grips, but in every instance, bundled lenses were excluded. (It's amusing to see how often the EF 50mm f/1.8 is bundled as a "freebie.")  Consequently,  variations in asking price reflect additional bundling, location of listing, and general age and condition of the equipment. (Note: This was the same criteria used in the previous survey). Regrettably, only using posts that excluded extras would have narrowed down the sample size to an unworkably small number of postings, and would not have been representative of the true nature of the Craigslist secondary market. All reasonable attempts to eliminate duplicate and scam posts were taken, and in some cases, prices that were obviously out of line with the rest of the market were excluded.


There aren't any major surprises in average asking prices at the national level, though the figure that jumps out the most is the number of 7D listings, which account for 30% of the Craigslist postings covered using the stated criteria. This is undoubtedly driven by two factors, the first being the average age of the EOS 7D bodies in the U.S. and the second being the anticipation of the (as of yet unannounced) EOS 7D Mark II (or whatever replaces the EOS 7D, regardless of model name.)

At thew other end of the spectrum, there are relatively few 70D and 6D listings on account of the relative newness of these camera bodies. This is also reflected in the lower standard deviation values (relative to the average). In other words, for a very lightly used 6D or 70D body, the consensus asking price seems to fall within a tightly grouped range that is just a bit below retail prices. For reference, based on a sample of 10 listings across the U.S., the average price of a 70D with the 18-135mm STM kit lens was $1,169 during the same period of time.

At the other end of the spectrum, the 5D Mark II, 7D and 60D are all older cameras, which show a wider spread in asking price distribution. Listings for these cameras tend to pile on extras like memory cards and battery grips. This is especially the case for 7D listings, where virtually all of the postings above the mean include extras. Given the number of 7D cameras on the used market, this seems like the only way to maintain a higher selling price, but it is not without it's pitfalls for the sellers. Battery grips, like the BG-E7 for the 7D, are not cheap and do not maintain their value on the used market because of the propensity of camera manufacturers to redesign the grip for each new generation.

Typically, markets are typically forward-looking entities. In other words, the average asking price for a 7D is not likely to drop precipitously should a replacement be announced in the fall; that possibility seems to be already reflected in the price, but in a hidden way. Depreciation for the 7D seems to have stabilized at a constant level, but the amount of freebies being packaged in the typical 7D listing seems to be going up. This too, is a form of discounting.

Body Average Median Min Max StDev n

5DmIII $2,662 $2700 $1,800 $3,100 $265 57
5DmII $1,451 $1425 $1,000 $2,200 $244 78
5D $536 $500 $397 $750 $76 47
6D $1,544 $1,500 $1,275 $2,200 $188 33
7D $827 $850 $500 $1,200 $125 126
70D $914 $883 $750 $1,100 $100 12
60D $586 $550 $400 $900 $102 58

EOS 60D listings tend to behave a little bit differently than the other cameras listed here. This is just a small subset of the 60D's that are actually available in the U.S., as a great number of these cameras were sold as kits, and are consequently re-sold in that format. In other words, 60D listings tend to look more like T5i listings than 7D listings. 

This is how average prices have changed over a 10-month period since the last used Canon equipment survey. No surprises here. The 5D Mark II was already an older model at the time of the last survey, so it had already entered a less-steep part of its depreciation curve. Conversely, 5D Mark III asking prices remain fairly high, possibly because of Canon's ability to keep the retail price of a new Mark III body at the $3000 USD mark or higher.

June 2014 Sept 2013 % Change

5DmIII $2,662 2911 -9.4%
5DmII $1,451 1504 -3.7%
6D $1,544 - -
5D $536 600 -11.9%
7D $827 886 -7.2%
70D $914 - -
60D $586 626 -6.9%

Asking Prices by Model

The following is a breakdown of the listings by national asking price distribution, average price by state and number of listings by state. Note that average prices tend to be lower in states with a higher number of listings, which is primarily because of the locations with higher population densities. There are two ways of looking at the reliability of these numbers. By standard statistical measures, the sample sizes aren't high enough to constitute a statistically meaningful conclusion. However, if you look at the smaller states (Montana, Idaho, Kentucky, etc.) this exercise no longer becomes a survey; it is in fact, a census because of how easy it is to capture all of the listings in any one given area.

5D Mark III

State Average Asking Price

 Oregon $3,100

 Arizona $3,000

 Colorado $2,999

 Nevada $2,950

 North Dakota $2,950

 Illinois $2,800

 Hawaii $2,800

 Michigan $2,777

 Florida $2,707

 District of Columbia $2,700

 California $2,679

National Average $2,662

 Washington $2,615

 Massachusetts $2,608

 Texas $2,600

 New York $2,269

 Georgia $1,800

5D Mark II

State Average Asking Price

 Missouri $1,833

 District of Columbia $1,719

 Ohio $1,600

 Washington $1,549

 New York $1,548

 New Jersey $1,500

 Virginia $1,500

National Average $1,451

 Pennsylvania $1,450

 Florida $1,443

 California $1,430

 Texas $1,400

 Oregon $1,350

 Nevada $1,323

 Illinois $1,300

 New Mexico $1,250

 Colorado $1,200

 Vermont $1,200

 Massachusetts $1,175

 Alaska $1,100

 Connecticut $1,080

Alabama  $1,000


State Average Asking Price

 Minnesota $675

 North Carolina $650

 Tennessee $650

 Kentucky $600

 Georgia $580

 California $566

 New Jersey $563

 Washington $550

 Massachusetts $550

National Average $536

 Illinois $525

 New York $502

 Hawaii $500

 Missouri $500

 Montana $500

 Nevada $500

 Florida $492

 Pennsylvania $475

 Texas $475

 Oregon $470

 Arizona $453


State Average Asking Price

 Texas $1,740

 New Jersey $1,600

 Arizona $1,600

 North Carolina $1,589

 Georgia $1,575

 Minnesota $1,570

 New York $1,550

National Average $1,544

 District of Columbia $1,507

 Nevada $1,500

 Pennsylvania $1,500

 California $1,468


State Average Asking Price

 Iowa $1,100

 Kentucky $1,100

 Massachusetts $960

 Virginia $950

 Idaho $950

 Michigan $894

 Colorado $890

 California $853

 District of Columbia $852

 Maryland $850

 Montana $850

 Nebraska $850

 South Carolina $850

 Georgia $843

 Florida $839

 New Jersey $835

National Average $827

 Texas $826

 New Mexico $825

 Minnesota $811

 New York $809

 Louisiana $800

 Mississippi $800

 Tennessee $800

 North Carolina $798

 Oklahoma $789

 Nevada $785

 Pennsylvania $781

 Washington $767

 Arizona $735

 Ohio $725

 Oregon $701

 West Virginia $700

 Maine $690

 Missouri $650


State Average Asking Price

 New Jersey $1,100

 Oklahoma $1,060

 Texas $1,000

 Minnesota $975

National Average $913

 Wisconsin $875

 California $867

 North Carolina $865

 Kansas $850

 New York $820


State Average Asking Price

 Vermont $850

 Idaho $650

 New York $644

 Colorado $620

 California $601

 Connecticut $600

 New Hampshire $600

 South Dakota $600

 Texas $597

 Florida $596

 Washington $590

National Average $586

 Illinois $560

 Pennsylvania $550

 Maryland $550

 Ohio $550

 New Jersey $533

 District of Columbia $525

 Missouri $525

 Minnesota $500

 North Carolina $485

 Montana $480

 North Dakota $400

Additional Craigslist Resources

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