Thinking of selling my Canon gear and then renting from now on

CrackedButter

macrumors 68040
Original poster
Jan 15, 2003
3,221
0
51st State of America
I'm getting really short of cash while studying for my MA. I'm thinking of selling my 1Dsmk2 along with my 24-70L, buying a Ricoh GR 3 (which is fine for my personal work) and then renting out the same gear when I have a job on. Thoughts?
 

CrackedButter

macrumors 68040
Original poster
Jan 15, 2003
3,221
0
51st State of America
Renting works out being £100 a day just for the body.

Doing Weddings isn't as convenient or as often as I want them to be as I already offer myself as a wedding photographer. It isn't the season you see.

I could keep hold of the lens though.
 

ThunderRobot

macrumors regular
Aug 10, 2008
194
3
Glasgow, Scotland
Only you can decide how in need of the cash you are, so no one else can make that decision.

However the 1Ds Mk II is selling for anywhere between £1,000 and £1,400 used. Assuming you clear £1k after fees, P&P etc and pick up the Ricoh GR 3 for around £450 that gives you six, maybe seven rentals before you're losing money.

Is it worth the instant cash to lose the convenience of owning the body and risk the rental not being available when you need it?
 

Westside guy

macrumors 603
Oct 15, 2003
5,512
2,460
The soggy side of the Pacific NW
Another option would be to just sell the lens, but keep the body. I know this would mean less cash in hand, so I guess it comes down to how strapped for cash you are. But lenses hold their value much better than bodies do, IMO; plus renting lenses is relatively cheap. You could pick up a decent consumer grade lens for day-to-day shooting (check the reviews - there's some decent consumer glass out there, as long as you understand its limitations), and still rent the 24-70 when you've got a real paying gig.
 

OreoCookie

macrumors 68030
Apr 14, 2001
2,681
69
Sendai, Japan
Since photography is more than a hobby to you, I think it's a very bad move, you'd cut into your flesh. I'd do it if I had run out of options. Selling the lens might make more sense, lenses hold better value so you don't `lose' (too much) money by selling yours.
 

jampat

macrumors 6502a
Mar 17, 2008
682
0
Another option would be to just sell the lens, but keep the body. I know this would mean less cash in hand, so I guess it comes down to how strapped for cash you are. But lenses hold their value much better than bodies do, IMO; plus renting lenses is relatively cheap. You could pick up a decent consumer grade lens for day-to-day shooting (check the reviews - there's some decent consumer glass out there, as long as you understand its limitations), and still rent the 24-70 when you've got a real paying gig.
Personally, I don't agree with this. The lens holds value, so it is basically free to keep (just has capital tied up in it). The body drops in price (something like $250-500/yr), so to hold a 1DS MKII costs you about a buck a day whether you use it or not. If you are reducing your investment, selling the body is the way to go. In the future, buy back in when you want and you still have great glass and a body that is much better than the one you sold.

If you really want to free up money, sell both, you can always buy the glass again for basically the same price and $2000 next year will buy you a hell of a lot more camera than $2000 now. Just my .02
 

pdxflint

macrumors 68020
Aug 25, 2006
2,407
14
Oregon coast
When you do a job, price it accordingly, and if you make money after all your costs, including rentals... then renting would be a good solution where you don't need to capitalize your own gear and take the depreciation. Rent, and expense the cost. Lots of pros do this... just make sure you plan ahead to make sure the gear is reserved when you need it... also, more flexibility this way in terms of equipment each time.

All this is based on the original post where you said you were strapped for cash...
 

AlaskaMoose

macrumors 68000
Apr 26, 2008
1,550
1,056
Alaska
I agree with others. Don't sell your camera nor lens. Instead, figure how to work a few extra hours a month as a student in any of the departments at your university. You probably don't have much time to do so, but even four hours per week would make you more money in the long run than selling the camera and lens. Also, Christmas and Spring breaks, if you are willing to work, will help you quite a lot.
 

scaredpoet

macrumors 604
Apr 6, 2007
6,627
342
For what it's worth, I was in your shoes about 8 years ago; in college, broke, and ultimately decided to sell my camera gear (a very nice Nikon F5 and some nice lenses). Within a day of selling it off, I regretted it, and while it did temporarily give me some cash, just a month later I was in the same boat again, only without my camera. It took me years to get back some decent kit.

I wouldn't do it unless you're really, really desperate for cash. You might find that the cash you get is only a temporary stopgap, and not worth the loss you end up with.
 

toxic

macrumors 68000
Nov 9, 2008
1,664
1
renting lenses costs a lot less than renting cameras, so keep the camera if you decide to sell something.
 

star-fish

macrumors regular
Aug 24, 2009
171
0
Can you do the reverse and maybe rent out YOUR equipment? To a few individuals you know and trust at a knock-down price?
 

maflynn

Moderator
Staff member
May 3, 2009
65,888
32,205
Boston
I think you'll regret that move. You'll lose out on those spur of the moment type of shots. Perhaps you want to travel into the country side or visit friends but you won't have your camera.
 

Doylem

macrumors 68040
Dec 30, 2006
3,858
3,640
Wherever I hang my hat...
Thanks for the advice/help everybody, the personal stories really hit home for me on this one. I'll keep the gear and work out my financials instead.
I had a financial 'hiccup' this year too. I didn't sell any of the photo gear I use... but I did finally get round to putting some stuff on eBay: a medium format film camera and lenses, PDA, books, CDs and other bits and pieces. It helped me to get over the sticky patch, and didn't mean parting with anything I needed...
 

stagi

macrumors 65816
Feb 18, 2006
1,125
0
Glad to hear you are keeping the gear, I think thats the best move. Renting can get expensive and you loose so much when selling a camera used. I hope things turn around and get busier for you.
 

carlgo

macrumors 68000
Dec 29, 2006
1,806
17
Monterey CA
I could see renting, but only really expensive stuff that you would never buy. Maybe a medium format digital and a lens or two. This would be good for that special, well-planned shoot of a worthy subject.
 
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