Amazon ‘Fixes’ Overpricing New Canon Lens by Growing Worth Additional

Amazon is coping with an obvious pricing error involving a Canon RF 100-500mm f/4.5-7.1 lens. Whereas the MSRP is $2,800, Amazon had it listed for over $600 extra. As soon as made conscious, the corporate “mounted” it: it’s now listed for $1,600 more than MSRP.

Early this morning, PetaPixel was made conscious of a pricing situation involving the Canon RF 100-500mm lens. The official “shipped and bought by Amazon” model of the lens — not a third-party unbiased reseller, as may be seen by the “Ships from and bought by Amazon.com” notation — was listed for $3,443.97. To make issues worse, the lens is currently on backorder through other authorized resellers, which makes Amazon one of many few locations by means of which new, official variations of the lens can presently be bought.

Believing the pricing discrepancy to be some type of error, PetaPixel knowledgeable Canon in order that Amazon could possibly be made conscious of the issue and resolve it. Whereas PetaPixel isn’t conscious of the precise agreements Canon has with its resellers, it is vitally possible that the corporate prohibits inflating the worth of its gadgets past the “advised” retail worth.

The FTC protects this practice for corporations who wish to keep management over the worth of their gadgets:

If a producer, by itself, adopts a coverage relating to a desired degree of costs, the regulation permits the producer to deal solely with retailers who comply with that coverage. A producer additionally could cease coping with a retailer that doesn’t comply with its resale worth coverage. That’s, a producer can implement a seller coverage on a “take it or go away it” foundation.

Whereas this often signifies that resellers can’t promote an merchandise for lower than a advised worth, generally it additionally stipulates that the worth can’t be elevated past a certain quantity as nicely.

Regardless of the case, a number of hours later Amazon did make an modification to the worth of the lens, however not in the way in which that might be anticipated:

As an alternative of reducing the worth to the $2,800 retail price that different distributors promote the lens for, Amazon appears to have made one other error and as a substitute increased it to a whopping $4,400 — a $1,600 premium over the MSRP.

Whereas clearly one other mistake of some type, this present worth for the lens is excess of its precise worth and consumers ought to in all probability await Amazon to deliver the worth of the lens all the way down to the right amount earlier than making an attempt to choose it up.

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