Sunday, September 10, 2017
Buying cameras and gear through the Grey Market.
When I was looking to buy a Phantom drone, I did what most people do. I checked out the reviews and then shopped around for the best price available. As to be expected Amazon and outlets through eBay appeared to be the cheapest.However, it was a supplier I'd never heard of who were offering the drone at a good £50+ less than the nearest dealer. So..I placed the order and in about 8 days the drone arrived. It was set up and performed as it should without any problems. It was only when a few months later, when I was looking to buy a Sony mirrorless camera and discovered that once again, this supplier was the cheapest around-a good £100 cheaper than anyone else- that I realised that the supplier was based in Hong-Kong and selling through the so called 'Grey market'.
What is The Grey market? Well...to borrow from an article about the market in The Guardian.
'A Samsung Galaxy S7 Edge mobile phone for £530 instead of £619, or an iPad Pro for £650 when it’s almost £800 elsewhere – these are some of the tempting offers you can find online if you visit websites selling products without the manufacturers’ authorisation. Goods such as these are known as “grey” products or parallel imports. According to the International Trademark Association (INTA), these goods are genuine in that they have been manufactured by, or for or under licence from, the brand owner. The discount comes because they are not being sold through official channels, and are usually brought in from another country.'
So, basically the buyer is bypassing EU and UK import tariffs by buying directly from a market which operates outside of the conventional laws and legislation applied by states such as the UK, to outlets based in Europe, The US or Japan.Thereby avoiding import duty and taxation.
So what's the catch? Well...it appears that if say my DJI drone had developed a fault within a couple of weeks, it is questionable if the supplier would play ball and supply a replacement or refund. Then you would have the hassle of sending the item back to China/Hong Kong. Furthermore, a manufacturer like Apple, Sony or Canon, would not offer any guarantee on a product which was not sold through an officially recognized outlet. In a nutshell.'you pay's your money and you takes your chances!.
That being said, a camera like the Canon D70- superseded by newer model but still being sold new- selling through the aforementioned grey market outlet for £661 compared to up to £1000+ through an outlet like Amazon puts into perspective the massive mark up that manufacturers and governments apply to products sold in the regulated market.
Worth a punt? Well....that's for the individual to decide.Is it a risk worth taking?
Posted by Footless Crow at 3:53 AM