photography and the economy, part 1: the hobby
The current financial crisis is the elephant in the room, so let’s acknowledge it and take a look. I’m taking the lead from 1001 Noisy Cameras and their recent post entitled Opinion: The financial markets and photographers.
I like to keep prophotolife relatively on point, targeted on the positive benefits of photography as a hobby and the realities of photography as a profession. Every once in awhile we’ve taken a little trip outside of our favorite topic to look at just how photography fits into the world at large. Right now the world is focused on economics. Tightening dollars are inevitable, given the turmoil in world financial markets. How will this affect photography?
A few weeks ago I published a post titled starting a photo business on a budget of $2000. A follow up is almost done on how the next $1000 could be spent. For me, this was a fun exercise and it seems it was for many of you, also, since it received great response. Right now I’m not spending much money, to be honest, and many people are understandably hesitant to spend. Writing a follow up to the original post seems a fun and valuable exercise, even if it is only play money we‘re using, so expect to see that soon.
*And speaking of soon, it was a beautiful weekend so I got out and shot the follow up to film vs. digital (2 DSLRs and 4 different films compared). Film goes out for processing today and then I’ll start scanning and compiling the comparison.
camera store photo by tracer.ca under creative commons
Photography as a hobby is booming, and rightly so. I don’t have to tell you all of the reasons photography is a great hobby, just fill that blank in with whatever it is that brought you to the party. How might this economic downturn affect photography as a hobby?
Well, it will certainly affect consumerism. Cameras have been flying off of dealers shelves and new models are appearing all the time. As spending slows, the hype over new camera models should slow. Increasing numbers of photographers will more likely “make do” with what they already have.
From strictly an enjoyment standpoint that’s not a bad thing at all. Your response to “how many mega pixels are enough” shows that readers of prophotolife don’t feel that the camera makes the photographer, it’s how the photographer uses the camera that matters. Right on.
Will cameras, software and computers come down in price? We’ve already seen such dramatic drops it’s hard to imagine prices falling further. But it seems like prices could very well fall further, especially if the holiday buying season is as bleak as predicted. Old stock sitting on shelves has to be moved so I’d anticipate some aggressive pricing.
A sad note is that this may prove the death knell for some of the few small, independent camera stores left standing. I’ve worked in camera stores and this is where you’ll find dedicated, knowledgeable, enthusiastic sales people that love photography. “Back in the day” consumers flocked to camera stores for brochures and information. All of that information is now easily accessible on the internet, as are “buy it now” buttons and numerous price comparisons.
But, regardless of where we buy, the U.S. economy depends on us buying new cameras, software and computers with regularity. The digital design chains are heavily invested in planned obsolescence, where things are designed (improved) either without backward compatibility or to have a limited life span in some other way. At certain points in the cycle, if we want to move forward with a new camera we must buy new software, whose performance may be enhanced by the latest operating system, which may only function fully on the latest computer system. Sometimes buying a new camera involves more than just buying a new camera.
But I’m not a slave to fashion, I just like to use what works. The benefits of a slowdown in buying might spur even more appreciation for cool DIY ideas on sites like DIYPhotography.net. I’m a backyard mechanic at heart and enjoy building my own photo equipment. There’s nothing like the satisfaction of using something I‘ve made myself.
This past summer Epic Edits Weblog hosted a poll in which respondents stated they felt Photoshop was overpriced. Perhaps more talented people will contribute to open source software projects like the free, multi-platform, open source alternative to Photoshop: GIMP (GNU Image Manipulation Program). John B. informed me recently that engineers have paved the way for GIMP to process 16-bit color and to implement non-destructive editing. That’s pretty cool.
Don’t get me wrong, I think Photoshop is a truly amazing product and, like Apple Computers, I believe they are superior to the alternatives. But will the average hobbyist think so if times get really tight?
I guess my final thoughts are that while the economy does count on the dollars spent on photography, enjoying photography as a hobby doesn’t have to be dependent on the economy (unless we let it be). And maybe, just maybe, if we’re spending less time spending money on other things, we may spend more of our time taking photographs. That’s not a bad thing, now, is it?
Next up: part 2, the economy and photography as a business
Well, my stock shares lost way more value then my lenses - maybe I should have bought less stocks and more lenses?
While the plunging economy is doing harm in almost any aspect of my life, one place where there is also a full half of the glass (or rather full drop in the glass) for me is the dollar.
As an overseas person, buying photographic equipment has dropped down to reasonable levels.
The “sad” part is that retailers here (Israel) do not drop the prices to match the decreased actual price that they are getting from their dealers. On the other hand, buying from online stores overseas suddenly makes more sense.
Sadly, I tend to agree on small camera shops. It is hard to compete with tight stock, no need for live agents and no need for front raw store location.
Thanks, Udi, it’s good to hear global perspectives at a time like this. I try to listen to worldwide news sources but it means much more to hear from someone that shares the same concerns. And I guess there are always “winners” in every market, this must be the opportunity for your retailers to put some cash in the bank. How are freight / shipping prices from the U.S.? Have those gone up, do you know?
Invest in lenses, of course! Let’s start the “PPL Lens Exchange”.
Sometimes we’re our own worst “spenders”.
1) you don’t need to purchase a brand new PC every few years.
Visit the tech sites and learn how to fix/upgrade you current PC.
You mac guys can’t do this I believe, though last years model is cheaper.
I’m using a Pentium 4 (cpu) , XP (no Vista please), and 3 gbs memory.
Only upgrade I’ve done have been HD’s . Please look for bargains online!
2) Camera: When I started out again after a ten year absence, I waited until the right Digital SLR would fit my needs. That was the D70. I saved up and got the best lenses (thought was buy best now don’t pay later) get the 28-70, 70 -200, and 50 prime. Haven’t bought any lenses
since. I waited until the D300 came out and bought the body. Again it was what fit my needs! Next in line will be D700 but thats for later, and that will be it.
There is a point of no “Returns”, meaning you buy a Mercedes but you only use it as a Chevy.
Well, lucky for me I can get my fix by sending stuff over to our branch in the US. every once in a while, we will have a visit coming or going, so I don’t really pay any “mail fees”.
There are a few factors to consider when making an overseas purchase that will indicate if the “price is right”
- item price - DUH!
- shipping price - and you really, really want to pay for that extra insurance.
- lack of warranty. most big manufacturers like Nikon and Canon issue a warranty that is only valid in the US - so are you willing to take the risk?
When I was working in a non global firm, shipping + indsurance would usually make the whole thing not worth effort. Now, I can afford more stuff. However, I can only buy at places that A - accept paypal and B - are willing to ship to where ever i ask - not trivial for international buyers (B&H for example will only ship to your billing address)
For both the hobbiest and the professional, a bad economy sorts out the good from the bad, strong from the weak. As a professional, an ecomony like this makes you look at things from different vantage points. For the mom and pop shops, what can they do differently? Can they move to the Internet with success? Can they offer training, bringing together groups of photographers? Likewise with things like Photoshop - what is the demand? Professional programs, equipment, etc will always cost more than consumer grade because of the details. Consumers want things quick and easy. Professionals have the desire to be different - to offer something the normal consumer can’t get. And if you finetune your offerings now, you’ll be that much ahead when things turn around.
Hi Jim,
This article sums up what I have been pondering since the proposal of the economic bailout package was introduced. I remember back when products were introduced by needs of the consumers. Nowadays, it seems products are introduced and upgraded by the need for more profit. It is sad to say that you have to wait for a recession to be able to afford quality products on sale. I read your $2000 dollar photo business article and it seems I was on the right track. I have every item except the bag and the 50mm 1.8 lens.(50mm 1.8 for 89 bucks, Where!!!!!!)
I have the exact tripod, camera, flash(+ an SB 25), and CS3 rather than Elements. I should have went with Elements and bought a 70-300 VR with the left over but I got an amazing deal on CS3. I figured, might as well, I’ll be able to get the cheaper upgrade to CS4. (Yeah I knew it was coming, profit remember) All and all the only thing I would change is getting a camera with a faster sync speed.
Thanks for the post very important and informative hopefully we see some price drops soon. Later, oh how the back and the new studio coming along?
The news these days does make one think about stuff more than just a couple of months ago. I’ve been eyeing Lightroom and/or Photoshop CS4. The price tag on them holds me back though. That said, is Photoshop worth as much as a particular lens? Basic Photoshop is around $650ish USD. That would be as much as some of the high-end consumer lenses like the 18-200mm VRII or the 16-85mm VRII, but nearly half of the pro lenses such as the 70-200mm VR or the 14-24mm. While the lenses might get used for particular photographs, Photoshop would be used on all of them. The lenses will “last” longer before needing to be upgraded. Thus, what gives you the best return on your investment? Today’s headlines just seem to make those kind of decisions more important than they might have been.
It sounds like we’re all concerned with making wise purchases, even more so when the economy IS the news. I think you’ve hit it on the head with lenses being a great investment and, also, software like Photoshop. It’s expensive to get into, yes, but nothing does what Photoshop does and the upgrades are reasonable.
Hey, it’s anticipated that Apple will announce an $800 laptop tomorrow a.m. If that happens maybe we can hope for some price adjustments from software manufacturers, too, in answer to consumer demands.
Tracey, the back is good, thanks for asking. The chiropractor knows how to manage it. I’m back on the monthly preventative appointment for the foreseeable future, just in case. And the studio deal is done, we’re just waiting for the landlord to take down one wall so we have a big open 2000 square foot box to work with. I think we’re going with the totally open floor plan and using dividers to cut the space up. I’m after something with a little funkier character this time around.
Oh you want funkier character, eh? How about we get a couple cans of paint and turn a class of kindergartners loose on your new studio? Nobody else in town will have a studio with as much character as yours!
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