How to shoot yourself in the foot (and kill the market too)

[Kenneth C Merrill]

I was trying to figure out a fair rate to rent my Scarlet MX for a few days. Ran across this:

It's no wonder the market for Red cameras is tanking.

 

[Matthew Quinn]

Errrr

 

[Matthew Quinn]

Most links I see still say 500-900 a day

 

[Kenneth C Merrill]

That's what I've been seeing too: usually a low of 450. I was floored when I found this. If you're having to rent your camera so cheaply, you probably shouldn't have that camera in the first place.

 

[Jeffery Anderson]

probably Los Angeles... I've had plenty of experiences of being undercut

 

[Doug Beatty]

Yep- I found 3 more from the same listing site for $200/day in Los Angeles.

After fees, $200/day comes down to $170 net.

So...a $50K camera package at $170 a day would pay off at around 294 days, which is probably more like 294 weekends - 5.65 years

If they are lucky enough to pull in 3-day week rentals every single week, then it is 98 weeks - 1.88 years

Traditionally, the barrier to entry into The RED rentals game has been low and owner-op "DPs" undercut each other and race to the bottom.

Where you separate yourself is by shooting the hell out of the camera, keeping your equipment in top shape, and offering support around the clock. That's worth something and you should price yourself accordingly.

 

[Jeffery Anderson]

guess you can have it fully insured and hope someone breaks it

 

[Jon Carr]

No matter what your price, there's always someone that will under price you...

 

[David Dominguez]

Yep- I found 3 more from the same listing site for $200/day in Los Angeles.

After fees, $200/day comes down to $170 net.

So...a $50K camera package at $170 a day would pay off at around 294 days, which is probably more like 294 weekends - 5.65 years

If they are lucky enough to pull in 3-day week rentals every single week, then it is 98 weeks - 1.88 years

Traditionally, the barrier to entry into The RED rentals game has been low and owner-op "DPs" undercut each other and race to the bottom.

Where you separate yourself is by shooting the hell out of the camera, keeping your equipment in top shape, and offering support around the clock. That's worth something and you should price yourself accordingly.

I'd imagine that many of these people renting the camera out are owner/operators that bought the camera mainly to shoot. Most likely they plan on paying it off by doing actual work. Anything extra is just icing on the cake. I've rented gear out for much lower prices than rental houses on days that i don't have a gig.

 

[Louis Maddalena]

But if you rent higher, everybody can. There is no reason to race to the bottom on rentals. It just hurts the entire market because then producers see the Alexa as a high end camera, and the Red as the one they can get for $200 for a weekend for their smaller productions. Then all RED owners lose out. Whether you rent or use it as an owner op.

 

[Matthew Quinn]

I guess there are a lot of red cams in LA.

 

[Doug Beatty]

I'd imagine that many of these people renting the camera out are owner/operators that bought the camera mainly to shoot. Most likely they plan on paying it off by doing actual work. Anything extra is just icing on the cake. I've rented gear out for much lower prices than rental houses on days that i don't have a gig.

One man's icing is another man's leaving money on the table. It's ultimately up to you but I would hope that my peers would want to make each other more money in the long run by keeping rates at close to rental house rates. I bet you'd end up with about the same residual income by charging twice as much and renting half the time. Plus, higher rent clients would probably treat your camera better.

Either that, or give your camera away for free to your friends on days you aren't working.

 

[Erich Roland]

But if you rent higher, everybody can. There is no reason to race to the bottom on rentals. It just hurts the entire market because then producers see the Alexa as a high end camera, and the Red as the one they can get for $200 for a weekend for their smaller productions. Then all RED owners lose out. Whether you rent or use it as an owner op.

Market forces are tough to combat. There are so many people that reached to buy an inexpensive Red camera and will rent it for very little to get some money back. Not that many people are doing that with Arri camera's.

 

[Mark Andersen]

I've heard from my rental customers that the really cheap RED cams for rent are usually pretty beat up.

 

[Peter Dmitriyev]

WHen I put out ads in L.A. looking for a gaffer for a shoot I got responses for Red Dragon PLUS DP (director of photography) for $300/day

 

[Dan Kanes]

Peter - hit me up if you're coming to LA.

i can refer you to a ton of great resources while you're here.

dan
mrpolaroid@gmail.com

 

[Troy Bakewell]

What website are these listed on?

 

[David Carstens]

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