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?
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Thinking of selling my Canon gear and then renting from now on
- Thread starter CrackedButter
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Mmm I think renting can be quite expensive though. I wouldn't.
Can't you rent your own gear OR do some weddings to make money ?
Can't you rent your own gear OR do some weddings to make money ?
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.
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.
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?
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?
If you really really like this camera keep it. There are always other solutions to make cash. Once I sold my motorbike I still regret.
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.
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.
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
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...
All this is based on the original post where you said you were strapped for cash...
I'm not sure how strapped you are for cash, but think long and hard before you sell your camera equipment. And definitely sell your body (camera!) before lenses!
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.
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.
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.
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...
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.