Don’t pull the trigger too quickly for Amazon gadget purchases
I just had a video chat on Skype with James about this topic and realized that many "everyday" consumers might not realize what I’ve noticed on Amazon. I’m about to upgrade my faithful Panasonic Lumix DMC-F27 digital point-and-shoot for a DSLR. After doing my research and factoring in my budget, I’ve settled on the Canon XSi, which lists for $899 or so. Like any gadget-hound, I’ve hit up all of the major electronics websites for pricing and of course, Amazon is in the mix. Here’s where it gets interesting: in the past 16 hours, the price for this camera has changed three times. Each time it was "Sold by Amazon" and each new price was lower than the prior.
Yesterday afternoon, the camera kit with lens was $845, or pretty much in line with many other retailers. Last night before bed, the price had dropped to $810, making it a very attractive deal. Still, I decided to hold off because it was too late for one-day shipping and I knew had time to kill before buying it for a Thursday delivery. This morning, I checked again and see that it’s now $799 and it can still be here tomorrow.
James made a good point when we chatted about this. Since Amazon has so many places it can receive stock from and because they "represent" so many sellers, the pricing can easily fluctuate as suppliers compete against each other. Granted: you can’t keep waiting for the price drops because you never know when they’ll change back to price increases. But sometimes a little patience can save a fair amount of money. It’s a crapshoot, of course, but it’s an interesting phenomonon to watch… and take advantage of when you can. Anyone have similar experiences with Amazon? Did you "win" or "lose" by waiting?
Related research and analysis from GigaOM Pro:
Subscriber content. Sign up for a free trial.
I have had the same issue. I bought the Canon XTi about 8 months ago and the price was moving around. I finally bought the camera for $650. But, it dropped to $589 about two weeks later. I found out that Amazon has a post pricing policy (30 days after purchase) and got a refund for the difference. The policy is as follows:
“If Amazon.com’s price for an already-released item decreases within 30 days after we ship the item to you, we’ll be glad to refund the difference in price if you contact us within that 30-day period.”
Hi Kevin,
I, too, bought some electronics from Amazon, and the price of a pair of Ultimate Ears Super.fi 5 Pro (based in part on James’ and Mark Orchant’s recommendations) earphones dropped significantly within two weeks of my purchase. Amazon gave me the refund for the difference without any problem.
I’ve had my eyes on 2 items from Amazon.com and the price did fluctuate. Samsung Q1UP docking station started out as $199.99 when I first checked about 2 months ago. Week ago, it was down to $179 but today it’s $192. Another item is xbox 360 wireless network adapter. I believe it was about $92 when I checked about 6-7 months ago. At one point it dropped to $59 and now it’s $88. So, Kevin, you are right. The prices do fluctuate but you really don’t know how far it will drop and come back up. It’s seems though, in most cases, the price will drop significantly and climb up a bit, but not as much as its original price.
TigerDirect Has the Nikon 40 for about $350.00
I’ve noticed the same thing.
I use Amazon’s wishlist feature and I look at it every day or so. I’ve noticed that some items fluctuate daily while others rarely change.
I’m an Amazon Prime member, so I try to buy only items sold by Amazon so that I can take advantage of the free shipping.
I try to buy it at the lowest price, but as Chip mentioned above there is a 30 day price guarantee.
Buying at Amazon is usually a safe bet – as mentioned, if the price drops within 30 days they’ll refund you the difference. (I’m also an Amazon Prime subscriber.)
$800 for a camera? I need to give myself a raise!
jhall, that’s a nice price for someone in the market for that Nikon. I’m not. ;)
Good comments because in all the years I’ve used Amazon, I never realized they had a 30 pricing policy. Thanks for that tidbit! I actually found some Circuit City gift cards so I grabbed it there (on sale) to minimize the total out of pocket cost. I’m in their parking lot right now; about to pick it up. :)
If the price goes up within the 30 days do you have to pay them the extra? Just wondering.
Same experience with a Makita drill combo.