Financing Stuff: The Survey

[MIke Sherck]

There's been a lot of discussion recently regarding new purchases -- new cameras, new lenses, new "stuff" in general. Some of the "stuff" has been older auction purchases, some has been new from dealers, some (probably) not too expensive, some (possibly) quite costly. I've been watching all this and am burning with curiosity (considered becoming an economist at one point: forgive me!!)

How do most of you, particularly those who are not professional photographers (in the old sense of professional, as one who earns an income from it,) finance your purchases? Cash or credit? For purposes of this survey, those of you who use a credit card and pay the bill in full when it arrives can claim to be paying cash.

I'm not a professional photographer, and I pay cash for my "stuff", which isn't a very extensive lineup. In terms of item count, about half what I buy comes from auction, the other half from dealers such as Jim at Midwest. In terms of dollars, it's about 75% dealers and 25% auction, because if I'm going to buy something expensive (like my Wisner Technical Field,) I feel more comfortable with a known entity, such as Jim.

[Jim Rhoades]

Cash, but credit is OK if you have to. Remember leaving money to your kids will do you no good at all. Let them work for it. It will make them a better, stronger person.

[Dan Harbour]

If you don't use it, eBay it. If you can't afford it, use a cheaper camera.

Ed Weston used crappy gear and did OK by it. You probably could too.

[paulr]

What Dan said. Try to get by with less stuff.

When that fails,

1) ebay something else to pay for the new thing

2) try to sell a print

3) crrrrrrredit!

4) as an absolute last resort, look for more work.

5) larceny is another option, if you're crafty. file this under "involuntary grants for the arts."

[Edward (Halifax,NS)]

If over $200 => credit
If under $200 => cash

Credit is usually paid off in 2-3 months.

[Jim Galli]

The rule at my house is the hobby has to pay it's own way. No funding from our normal income with one possible exception. If I drive someplace just for photos the gasoline gets paid for with the regular gas bill. So I used to spend a lot of time hustling photos to Nevada Magazine for $30 each etc. until I discovered Feebay. I've got the horse trader gene so I buy high and sell low, but I make it up in volume. It's actually a lot of work and eats up a lot of time but the bottom line is I've built the LF system that I will use the rest of my life. The plan is to taper off and not spend so much time editing photos and messing around with auctions. The Linhof I'm selling this week came with 2 lenses I wanted to keep. So whatever the difference is between what my re-sale fetches and what I paid for the complete outfit with the lenses is the cost for the 2 lenses. 250 Imagon and a 210 Heliar. I won't get them for free but I will (I hope) get them for less than if I just bought them individually.

[Calamity Jane]

" larceny .... involuntary grants for the arts." BAW HAW HA HA! I LOVE IT!

I guess I'd be "a semi Pro" now since I'm selling tintypes and buying my supplies with "tax exempt money" - not a very good "semi Pro" since I sure wont show a profit this year!

Major purchases have all been thru e-bay, which ends up on my credit card. Minor purchases at the local pro shop and online go directly to the credit card.

I try to ensure that there's enough cash (from my day job) at the end of the month to pay off the credit card. Any balance gets paid from my credit line (which is MUCH better interest rate). Since purchases go in fits and spurts, the whole objective is to reach the end of the year with $0.00 on the credit card and less money owing on the line of credit than the year before. So far I am batting 500

[Dan Fromm]

Mainly cash, although I've borrowed for major speculations.

I'm pretty much with Jim. In recent years, "buy low, sell higher" has paid for most of my photography-related expenses. Most sales on eBay, some off eBay to people who found me or to previous buyers.

When I was building my cine kit I bought used S8 cameras, most for backup, at camera shows. As I upgraded and upgraded the backup camera, the ones that had been, um, superseded, were sold through the Shutterbug that used to be. Until I went crazy and bought a Beaulieu for a main camera, I was actually ahead on cameras. A used Beaulieu is, proportionally, a bigger sink of money than a boat.

And I'm with paulr with respect to gear that I don't use. I unload at least some of it, and sometimes at a considerable loss. But I'm better off with the cash and a loss realized than with, say, a lens I'm getting no benefit from and an unrealized loss. Thinking of which, I really should mobilize myself and sell my cine cameras, since I've pretty well stopped using 'em.

[Bob Salomon]

Cash, credit and some lease equipment.

[Donald Brewster]

I try to keep it simple, buy used (and usually old), pay cash. Still have more than I use. LF stuff does manage to accumulate.