Leica S3 Trade In Promotion

[glenerrolrd]

Advertisement (gone after registration)

What happened to the Leica Trade In promotion ..posted at Leica Miami s RedDot Forum at the end of March . 

As you can see from the attached this was a really attractive offer ..especially for an owner of an S 007 .   The deal in short was $4000 trade in allowance PLUS the negotiated trade in value of an S 007 . This would almost for certain bring the total trade in to $9000 .  Effectively making the S3 a $10K upgrade . 

Now after many conversations with Leica dealers and other interested S3 buyers ...it appears that the promotion has not been approved by Leica . 

Does anybody have any insights ?  

 

 

 

Welcome, dear visitor! As registered member you'd see an image here…

Simply register for free here – We are always happy to welcome new members!

[Jeff S]

Did you discuss with Leica Miami directly?  They are very knowledgeable and helpful.

Jeff

[glenerrolrd]

Yes I did .  I was told Leica USA had not finalized the promotion and that it would not be applicable to orders being filled now .   That they would work with me in the future to keep me happy . 

Of course they are always free to change their mind on pricing, promotion,avaialbaility etc .  But since its a TRADE IN program ..it effectively blocks a potential buyer from selling their S 007 .  Why would you sell at FMV if you knew a TRADE IN program would yield a lot more .  (trade in allowance PLUS trade in value ). 

If its a dead duck even for now ...a simple we don t plan on offering this promotion is appropriate .  

So by being on the S3 list for years ...I was a beta tester and had been on the list for at least 2 years before .... I lose the promotion , the timely sale of my S 007 and the priority availability I expected .  

 

[Jeff S]

I wouldn’t expect anyone here to know more than David Farkas. But you never know. I can understand the frustration.

Jeff

[mgrayson3]

I would think it would increase the value of your S(007) in the used market. Someone looking to buy an S3 would pay to have access to the trade-in bonus.

[glenerrolrd]

Two possibilities :

           Trade In Promotion happens ......trade in value of S 007 greatly increased because of additional trade in incentive .  

           Trade in Promotion doesn t happen   ....trade in value of S 007 depreciates as additional S 007 bodies become available .         

Effect of uncertainty on potential buyer ...

            Delays purchase of S3 (currently available ) .  

            Delays   possible sale of S 007 (now) at decent price .  

 

Thus my interest in learning anything I can about the possibility of the promotion actually happening .   

 

[LeicaR10]

Advertisement (gone after registration)

Glenerrolrd,   Just talked with Camera West in Rancho Mirage CA.  The S3 trade-in program is still valid.  The owner has two Leica boutiques and Leica Store in SF.  The San Francisco store is temporarily closed.  You might check out the website and call them.  I get 98% of my Leica equipment from them.  Hope this helps.  r/ Mark

Edited July 25, 2020 by LeicaR10

[albireo_double]

 I got €4000 for my S007 plus an extra (Mediscount for my S3 camera allegedly "having been unpacked and shown to another customer" (camera looks untouched). But the overall deal was not as generous as what the OP describes. I don't want to be more specific as my dealer has really been supportive and would perhaps not appreciate the exact sums discussed publicly.

[LeicaR10]

Albireo-double,  Congratulations!  You are going to really enjoy the camera.  I received the S3 a while back and my clients really like the results.  I took advantage of the Leica program after the buyer ran into financial issues.  In my case, the trade-in program definitely worked out very well.   I think there are other variables involved for the dealers that I am not aware.  Most important, enjoy the new S3 and keep creating your excellent photographs.  r/ Mark 

[glenerrolrd]

On 7/25/2020 at 2:43 PM, LeicaR10 said:

Glenerrolrd,   Just talked with Camera West in Rancho Mirage CA.  The S3 trade-in program is still valid.  The owner has two Leica boutiques and Leica Store in SF.  The San Francisco store is temporarily closed.  You might check out the website and call them.  I get 98% of my Leica equipment from them.  Hope this helps.  r/ Mark

Thanks I know the owner of the Leica SF .  Good people to work with.  

[glenerrolrd]

Don t you just love the way Leica deals with their customers .   Two weeks ago I tried three different Leica stores to determine if the promotion was valid .   I received two ...”we never heard of it before “we  can give you $4000 for your S 007 ."  And one the details are not finalized and we can not apply any promotion to existing cameras .  

Then in discussions with a 4th dealer ..the whole process is similar to a car dealership . Here is what we can do bottom line .   The promotion as presented above is very very clear . There is a promotion allowance (in effect a discount ) of $4000 .  I know from discussions the discount  is shared by Leica and the dealer .  

The trade in value should be FMV ..what the dealer really believes he can get for the camera ....less their selling commission . At most Leica stores they give 70% of FMV .   So lets say a mint minus S 007 has a FMV of $6500 ...well below the quotes at camera west .    You should get $4500 in trade in .  The deal should be $4K promotion +$4500 trade in value or about $9500 .  making a new S3 .....$10,500. 

Be sure to keep all this a secret because after all you “owe ‘’ your dealer that curtesy . 

Oh and while they have been “figuring this out internally “  all the first batch of S3 cameras sold.  If you know a USA dealer that has one let me know . 

 

Edited July 26, 2020 by glenerrolrd

[LeicaR10]

Glenerrolrd,  You are correct in how the Leica trade-in for the S3 is suppose to work.  As you wrote, the fair market value and condition of the camera should drive the trade-in.  That is how it worked for me.  No hassles, no issues and was very pleased with the trade and a S3 that delivers in spades for my clients.  r/ Mark

Edited July 26, 2020 by LeicaR10

[glenerrolrd]

I have now confirmed that the promotion..at least in the USA ..is still in effect .  The promotional allowance (not the trade in ) is fixed at $4000 and shared between the store  and the company .  The trade in is a negotiation between the store and the buyer of the S3 .  Normal process should take place .  It appears that some stores are attempting to recapture the store participation in the promotion by undervaluing the trade in .  If you get an offer of $4k ..you are essentially selling your S 007 for zero .  

It is of course hard to value a used S 007 .  If you do your home work you will find few for sale and almost no sales history .  

 

[John Smith]

3 hours ago, glenerrolrd said:

I have now confirmed that the promotion..at least in the USA ..is still in effect .  The promotional allowance (not the trade in ) is fixed at $4000 and shared between the store  and the company .  The trade in is a negotiation between the store and the buyer of the S3 .  Normal process should take place .  It appears that some stores are attempting to recapture the store participation in the promotion by undervaluing the trade in .  If you get an offer of $4k ..you are essentially selling your S 007 for zero .  

It is of course hard to value a used S 007 .  If you do your home work you will find few for sale and almost no sales history .  

 

Thanks for the information. I'm only considering an S3 if the trade-in promotion is in place. (My dealer told me that there is a limited production of S3s and is supposed to call me when and if one becomes available.) As you say, it is hard to value a used S 007.