Heres a press release for UK Sigma buyers. I said it before, I'll say it again. if there is something you want to buy, buy it or regret not doing so after the 1st of February 2009, unless paying maybe 40% more for same item is no big deal to you:
Sigma UK Press Release
Sigma increase prices due to the exchange rate.
It’s a very long time since prices in the photo/imaging market increased. Cameras and lenses fell in price until they offered incredibly good value for money. In times of recession it seems counter-intuitive for prices to rise but that’s exactly what is about to happen, mainly due to the currency fluctuations.
In December 2007, the exchange rate between the UK Pound and Japanese Yen was 235. The very weak pound and unusually strong Yen now means that the exchange rate has fallen to below 130 Yen, a devaluation of approximately 40%. Anybody who has recently been on holiday abroad will have noticed that the pound is very weak against the Euro, Dollar and Yen.
Our parent company, the Sigma Corporation, purchases raw materials in Yen and their overheads are therefore inextricably linked to the Yen and so they have been forced, in line with our competitors, to increase our supply price to reflect the exchange rate between the UK pound and the Japanese Yen. Our prices are therefore set to increase on 1st February 2009. Whilst our price increases reflect the international exchange rate movements we have made every effort, wherever possible, to absorb the price rises and minimise extra expense to the customer. Sigma, in line with our competitors, are constantly monitoring the currency market and our prices are directly influenced by exchange rates. We hope that the UK pound makes a recovery against foreign currencies however it is not altogether impossible that further price increases may be forced upon us all.
As retailers strive to beat the price increase deadline, we have seen tremendous growth in sales in January and as a result our warehouse is very low on stock. Whilst the prices of Sigma products will increase on 1st February, it may be possible for customers to purchase from their local retailers at the original prices for a limited period as long as stocks last.
Whilst these price rises are regrettable it is important to note that, as all our competitors are increasing prices to a similar degree, we still retain our reputation for offering top quality products and excellent value for money.
Originally posted by Samsungian Both Canon and Nikon are imposing serious price increases in Feb 2009. Alot of canon items are now out of stock at sellers I do biz with. ALL Likely to be in stock the moment new pricing hits. I have a strong feeling we'll need to toss out the great prices for equiptment bought in 2008&2007 and reset the prices equiptment costs in 2009 and beyond as long as Yen stays strong against all currencies. What if Yen remains strong past 2010, then equiptment will simply cost more including full frame dslrs.
We may be entering one of those eras where you bought an item new the past year at a very good price, then carefully use it for a 2-3 years and then you sell it used for more than you paid originally. This is great of you got it to use, BUT not so good if you're saving to buy items that then cost 20-25% more "overnight".