The black version of the DA 20-40mm is currently listed at $592 at B&H:

Pentax HD Pentax DA 20-40mm f/2.8-4 ED Limited DC WR Lens 23000

[yucatanPentax]

B&H's website is still showing the $592 price at this link:

Pentax HD Pentax DA 20-40mm f/2.8-4 ED Limited DC WR Lens 23000

Some of the Amazon offers for this lens (around ~$505 USD) are from 6ave, or Sixth Avenue Electronics Express, which are often grey market stock. While B&H and Adorama are known quantities with good customer service records, 6ave may not be up to the same standards. Then there is this:

Returned items will be subject to a restocking fee of 5%-20% of the total price. Shipping price is not refundable. The buyer is responsible for shipping charges to return an item back to us.

So, if one wants to save around ~$90 and risk that everything is perfect, no returns, no seller customer services required, that's up to each purchaser. A 20% restocking charge is an additional $100 risk to the buyer. Like almost any product, good customer service is worth something. And authorized sellers vs gray market is another consideration. To each his/her own.

[a5m]

It's $542.03 on Amazon - Sold by 6ave and Fulfilled by Amazon. If you go this route wouldn't you deal directly with Amazon and not have to worry about the seller's return policy?

Pentax HD DA 20-40mm F2.8-4 ED Limited DC WR Zoom Lens - Black

Only 2 left in stock

I've mentioned this before that a Pentax/Ricoh rep told me purchases on Amazon are covered under warranty as long as the order is fulfilled by Amazon. They even went as far as saying it doesn't matter which US seller you purchase it from as long as you receive a store invoice and the item isn't listed as 'Grey Market' you will be covered. Adam has confirmed this as well.

[Tom S.]

It's $542.03 on Amazon - Sold by 6ave and Fulfilled by Amazon. If you go this route wouldn't you deal directly with Amazon and not have to worry about the seller's return policy?

Pentax HD DA 20-40mm F2.8-4 ED Limited DC WR Zoom Lens - Black

Only 2 left in stock

I've mentioned this before that a Pentax/Ricoh rep told me purchases on Amazon are covered under warranty as long as the order is fulfilled by Amazon. They even went as far as saying it doesn't matter which US seller you purchase it from as long as you receive a store invoice and the item isn't listed as 'Grey Market' you will be covered. Adam has confirmed this as well.

Might want to read about grey market sellers: Camera Stores to Avoid Canon filed a suit against 6th Ave in October of 2015 for selling grey market versions of their equipment. I suspect these lenses are of that ilk.

[braver]

Guys, thanks for the truly valuable explanations! Is there a similar special link for (a) the silver version, (b) Adorama? How do you find these links?

A+

[Outis]

How about the silver version at Adorama?

[braver]

How about the silver version at Adorama?

I meant deal links! This is the same $796 found by searching Adorama or B&H.

A+

[Adam]

B&H is back to showing the low price. Remember that just because the lens is cheaper somewhere else doesn't mean that the big two can offer discounts. Also, most Amazon sellers are grey market.

B&H does set expirations on most deals, and this one has obviously been renewed.

Remember back when $899 was a good price for this lens?

Also, I've contacted Adorama as they've clearly forgotten to update their Pentax prices. They said the prices will be adjusted shortly to (roughly) match those of B&H.

Also, it's Adorama's policy to match B&H, so you can phone in after placing an online order and request an adjustment. Unless it's a crazy deal, they'll most likely honor B&H's posted pricing. If not, you can canel.

Adam
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[Outis]

Looks like it's back up to $796 at B&H.

[braver]

So glad I got one in time! Thanks Adam and yucatanPentax for the specific link that worked! A+