Pro Sony/ Pana price hikes in NZ soon..

Josh Dahlberg · November 16th, 2008, 03:01 PM

Quote:

Originally Posted by Adam Gold

This is pure marketing hype from the dealers, exploiting a tenuous global financial situation for their own benefit.

I buy a lot from the dealer mentioned and they're a reputable outfit. They're very upfront with their pricing information and where it's coming from.

For what it's worth, I think you'll be proved incorrect and Sony / Panasonic WILL indeed raise prices significantly in New Zealand (and I think the same will be true for our neighbours in Australia) because they CAN. I see you're in the US, where manufacturers likely have to tread a bit more carefully given the enormous market.

Prices for pro gear here are generally 10-20% higher than in the States after currency conversion due to the low volumes etc etc. But we have seen a dramatic (around 25%) drop in the value of our currency in the past few months (I believe Australia has seen a similar drop) without any change in pricing, such that for the sake of example, an EX1 now costs equivalent to US$5500 in New Zealand.

I hope I'm proven wrong and current pricing endures, but actually it's common practice in small markets like ours for manufacturers to bounce pricing around to keep sync with the exchange rate.

Chris Soucy · November 22nd, 2008, 03:03 PM

Sony hikes prices as yen value soars - Business News, Business - The Independent

CS

Joe Lawry · November 22nd, 2008, 04:44 PM

Glad i bought an EX1 yesterday.

Dave Blackhurst · November 23rd, 2008, 12:32 AM

Having just made a sale to Oz, I can say I checked exchange rates and was shocked to see the AUD drop against the USD almost 5% over a couple of days. The FOREX markets have apparently gone a bit haywire (maybe the oil speculators have moved to FOREX?).

The world economic mess creates uncertainties unlike ANY we've ever seen before. How it will all shake out??? I'd just say fasten your seat belts, it's going to be a bumpy ride.

Andrew Dean · November 23rd, 2008, 02:37 AM

I suppose it could be just FUD, but major swings in the exchange rate do affect the profits of manufacturers, and while big companies like sony can hold the wholesale price constant for quite awhile, at some point the loss of profit will look bad to an accountant and something needs to be done.

Last year around this time there was the letter that Schoeps was raising their US price of mics and to "get in now". Sure enough, 48 hours after i bought my cmc641 for $1600 the price jumped up to $1900 and has stayed there for almost a year.

Here in NZ we get an extra stinky poke with the economic stick. NZ isnt a big enough market to warrant any kind of stabilization. Lots of the sales are from direct importers, so when the exchange rate tanks, the price goes right up. When it strengthens, the importers are afraid it might tank again and hold things at the same, higher price for waay longer than justified.

Over the course of 3 years the nz dollar moved from buying .5 us$ to buying .82. That should have meant a massive difference in retail price (for a $1,000us item, the price should have dropped from $2,000nz to $1220nz), but for many retailers they were happy to keep the prices as if the exchange rate was still at .5. At one point it was cheaper for me to buy a plane ticket, fly to LA, buy a powerbook and spend a few days at disneyland than it was to buy locally.

I suppose thats the price of living in utopia though. hehe. NZ has about the same population size as the greater Dallas area, but spread out over a whole big beautiful country. Still hurts when you want to buy video gear though. doh.

Desy Cheng · November 23rd, 2008, 12:00 PM

Quote:

Originally Posted by Paul Leung

If you have been watching the exchange rate lately, you know that it is coming. I would expect the prices of most imports will go up soon in Canada too.

Its already gone up here in Vancouver. Talking with my Sony dealer, prices of the Sony products already went up. Sad that they didn't stick to their 'November 27th' date.

I had to push out an order for an EX1 last week as the prices went up 7%. (I got lucky and just squeezed by with the 'old' price).

But unfortunately I was too late for the batteries... the BP-U60 batteries went up 17%!!!!!

Adam Gold · January 23rd, 2009, 10:25 PM

Well, I don't know what's happening in other countries, but despite all the FUD, hysteria and panic, Sony Pro Gear prices have never been lower and have fallen dramatically recently. At our favorite trusted dealer, B&H, the Z5 is down to $4100, the Z1 about $3500 after rebate, and the V1 a shocking $2779 after rebate.

Never panic when it comes to this stuff.

John Wiley · January 23rd, 2009, 10:47 PM

Quote:

Originally Posted by Adam Gold

Never panic when it comes to this stuff.

If you live in the USA, that is.

Here in Australia most prices on pro gear have gone up about 20%. The HVX202 is now $10,000, up from about $7500 Last month. The Sony Z5P currently can be had for just under $8,500, while it was intorduced at around $7000.
The V1P is around $6700, which is about the same price the Z1 was 2-3 years ago.
I've been checking the prices at Videoguys Australia every now and then, and the prices seem to be climbing higher every week.

I'm glad I'm not currently in the market for any of the pro gear.

Josh Dahlberg · January 23rd, 2009, 10:49 PM

Quote:

Originally Posted by Adam Gold

Well, I don't know what's happening in other countries...

With respect, that's the crucial point. In several countries, the rises people warned of in November/December (that some at the time cast doubt on as being FUD) are now a reality, across ALL dealerships. Sony/Panasonic et al have raised their prices on pro video around 20% in Australasia - it's a fact. It's important to note, they're not raising their profit margins, they're simply responding to exchange rate fluctuations.

Your example of B&H isn't particularly revealing because the $US hasn't plummeted against the yen the way other currencies have, hence relative stability of prices in the States. I buy a lot of stuff from B&H myself (I have an order arriving on Monday), but unlike you, it costs me 30% more to buy from B&H than it did six months ago.

Adam Gold · January 23rd, 2009, 10:57 PM

Points above both well-taken, but my point was only that, based on this thread and many others like it here and elsewhere, plenty of Americans got hit with this sales pitch as well, and it's proven to be just as bogus here as I said it was.

This is a great time to be buying video gear, houses and securities. Panic just makes you poor and other people rich.

Dave Blackhurst · January 24th, 2009, 12:44 AM

Unless one understands the vagaries of FOREX (foreign exchange rates), it's hard to comment thoughtfully.

The financial markets have been in such severe turmoil over the last few months, it's very conceivable that 25% price adjustments depending on the relative value of your base currency are "reasonable". No FUD at all, just a fact of the ups and downs of economies, countries and currencies... which I suppose are nothing BUT fear, uncertainty and doubt right now...

November 22nd, 2008, 03:03 PM	#17
Chris Soucy Inner Circle Join Date: Feb 2007 Location: Fairfield, Dunedin, New Zealand Posts: 3,682 Images: 18	Hang onto your hats, er, wallets............ Sony hikes prices as yen value soars - Business News, Business - The Independent CS

November 22nd, 2008, 04:44 PM	#18
Joe Lawry Major Player Join Date: Jul 2004 Location: Auckland, New Zealand Posts: 418	Glad i bought an EX1 yesterday.

November 23rd, 2008, 12:32 AM	#19
Dave Blackhurst Inner Circle Join Date: Feb 2007 Location: Apple Valley CA Posts: 4,874	Having just made a sale to Oz, I can say I checked exchange rates and was shocked to see the AUD drop against the USD almost 5% over a couple of days. The FOREX markets have apparently gone a bit haywire (maybe the oil speculators have moved to FOREX?). The world economic mess creates uncertainties unlike ANY we've ever seen before. How it will all shake out??? I'd just say fasten your seat belts, it's going to be a bumpy ride.

November 23rd, 2008, 02:37 AM	#20
Andrew Dean Major Player Join Date: Dec 2005 Location: Motukarara, New Zealand Posts: 475	I suppose it could be just FUD, but major swings in the exchange rate do affect the profits of manufacturers, and while big companies like sony can hold the wholesale price constant for quite awhile, at some point the loss of profit will look bad to an accountant and something needs to be done. Last year around this time there was the letter that Schoeps was raising their US price of mics and to "get in now". Sure enough, 48 hours after i bought my cmc641 for $1600 the price jumped up to $1900 and has stayed there for almost a year. Here in NZ we get an extra stinky poke with the economic stick. NZ isnt a big enough market to warrant any kind of stabilization. Lots of the sales are from direct importers, so when the exchange rate tanks, the price goes right up. When it strengthens, the importers are afraid it might tank again and hold things at the same, higher price for waay longer than justified. Over the course of 3 years the nz dollar moved from buying .5 us$ to buying .82. That should have meant a massive difference in retail price (for a $1,000us item, the price should have dropped from $2,000nz to $1220nz), but for many retailers they were happy to keep the prices as if the exchange rate was still at .5. At one point it was cheaper for me to buy a plane ticket, fly to LA, buy a powerbook and spend a few days at disneyland than it was to buy locally. I suppose thats the price of living in utopia though. hehe. NZ has about the same population size as the greater Dallas area, but spread out over a whole big beautiful country. Still hurts when you want to buy video gear though. doh.

January 23rd, 2009, 10:25 PM	#22
Adam Gold Inner Circle Join Date: Jan 2007 Location: Woodinville, WA USA Posts: 3,467	Well, I don't know what's happening in other countries, but despite all the FUD, hysteria and panic, Sony Pro Gear prices have never been lower and have fallen dramatically recently. At our favorite trusted dealer, B&H, the Z5 is down to $4100, the Z1 about $3500 after rebate, and the V1 a shocking $2779 after rebate. Never panic when it comes to this stuff.

January 23rd, 2009, 10:57 PM	#25
Adam Gold Inner Circle Join Date: Jan 2007 Location: Woodinville, WA USA Posts: 3,467	Points above both well-taken, but my point was only that, based on this thread and many others like it here and elsewhere, plenty of Americans got hit with this sales pitch as well, and it's proven to be just as bogus here as I said it was. This is a great time to be buying video gear, houses and securities. Panic just makes you poor and other people rich.

January 24th, 2009, 12:44 AM	#26
Dave Blackhurst Inner Circle Join Date: Feb 2007 Location: Apple Valley CA Posts: 4,874	Unless one understands the vagaries of FOREX (foreign exchange rates), it's hard to comment thoughtfully. The financial markets have been in such severe turmoil over the last few months, it's very conceivable that 25% price adjustments depending on the relative value of your base currency are "reasonable". No FUD at all, just a fact of the ups and downs of economies, countries and currencies... which I suppose are nothing BUT fear, uncertainty and doubt right now...