Grey market deals for the Panasonic GH5
The Panasonic Lumix DC-GH5 is a enthusiast MILC that features a 20.2MP sensor. It was launched in January 2017 at a manufacturer suggested retail price (MSRP) of USD 1999. Over time and in particular once a successor model appears on the horizon, camera prices tend to come down. Yet, while waiting for the discounts to kick in, you might have seen some very attractively priced offers from online sellers that advertise international versions of the Panasonic GH5. Are these grey market deals too good to be true?
What are grey imports?
Grey market cameras are products that are imported outside the manufacturer's official marketing channels. They are sometimes also referred to as parallel imports. Like other camera producers, Panasonic sells its imaging devices world-wide, but prices them according to prevailing exchange rates (which change over time) and local market conditions. As a result, the Panasonic GH5 can be found in Japan or other Asian countries at a substantially lower price than in North America or Europe. These pricing differences are exploited by grey market vendors, who buy the cameras in low-priced locations and ship them to countries where Panasonic via its in-country division and its authorized retailer network maintains a higher price level.
The term "grey market" places parallel imports somewhere between manufacturer authorized trade of cameras (the "white market") and trade in illegal or stolen goods (the "black market"). This terminology should, however, not be taken to imply that a camera from the grey market is of somehow inferior quality or of shady origin.
Are grey market transactions illegal?
Grey market imports are subject to the same border taxes and regulations as officially authorized imports of the GH5. The products are not smuggled into the country (which distinguishes them from black market merchandise), and they do not represent counterfeit or refurbished goods, but genuine new items. Buying or selling a parallel-imported camera does not violate any laws. However, Panasonic obviously tries to discourage grey market imports, as the latter undermine the company's pricing strategy and squeeze its profit margins.
Is a grey market GH5 different from an official GH5?
Grey market cameras are technically identical to officially marketed ones. They are brand new, probably originate from the same production line, and have passed through the same quality control checks as a camera from an authorized retailer. They also generally come with the same set of accessories and in similar packaging. However, the cameras might be customized for their target markets. This customization might be most visible through the menu languages that the camera's firmware supports. A grey market Panasonic GH5 might feature several Asian language options alongside English and Japanese, while a camera that comes from an authorized retailer in North America or Europe would complement English with other European languages, such as French or Spanish. Also, the instruction manual that comes with the camera might be in a different set of languages. Sometimes, grey market sellers will modify the original camera set and replace or add a non-original power cord or adapter to localize the camera to the electrical plug standard in the target market (e.g. add a US plug for a camera sold in North America, or add a UK plug for one sold in Britain).
In some cases, grey market retailers will break down camera and lens kits and sell the individual components separately. The latter will then be shipped in white box packages, rather than the standard Panasonic packaging.
Does a grey market GH5 benefit from the official warranty?
Panasonic discourages grey market imports and does not provide any manufacturer's warranty for these products. So, if the camera fails due to a manufacturing defect shortly after its purchase, Panasonic will not repair or replace it for free. That said, most grey market vendors are providing their own warranty, so that the buyer can send his or her GH5 back to the seller for fixing or replacement if the camera is faulty. This seller warranty will normally be backed by an insurance company, so that it will be valid even in the case that the seller meanwhile discontinued his or her business. In addition, some buyers find it advantageous for reasons of peace of mind to additionally buy the extended warranty policies that some shopping platforms, such as Amazon or Ebay, offer.
Panasonic UK states on its website: European consumers may find that grey market products do not meet their expectations because the products were not set up and tailored for that local market.; and further: In some cases the manufacturer will not support the standard warranty.
It should be noted that both the Panasonic warranty and the seller warranty are limited warranty policies. These limited warranties protect the buyer from any manufacturing defects, but they do not cover any damage from user error or neglect. So any harm that the owner has done to the camera through mis-handling or accident will not be covered under a limited warranty. The owner will have to pay for the camera repairs, even if the incident occurs before the end of the warranty period.
Will Panasonic repair a damaged grey market GH5?
Some camera manufacturers, notably Nikon, keep track of serial numbers and refuse to touch any grey market cameras. Their authorized repair facilities will not even fix them against payment if broken. Panasonic, however, will repair a faulty or damaged grey market GH5 for a service fee.
Do grey market vendors provide good customer service?
Grey market sellers compete primarily on price. Most vendors will process transactions quickly and accurately. However, grey sellers tend to have very limited staff and run a tight stock management regime. These constraints can sometimes lead to stock-outs and delays. Hence, if you are unlucky, your Panasonic GH5 might arrive a couple of days later than you had been hoping for. Also, it is probably advisable to be conservative with respect to the quality of the sales advice or phone support that you can expect. The transaction is all about getting the best price...
A grey market GH5 will not be eligible for any promotional programs that Panasonic might run, such as special offers or mail-in rebates. Grey market sellers do not offer any such promotions.
How do I identify a grey market Panasonic GH5?
Grey market cameras are rarely advertised as such. Indicators of the parallel-importing origin of a Panasonic GH5 would be a price that is substantially below the prevailing retail price and a mention of "international version", "direct import" or "no manufacturer warranty" in the product description. Alternatively, many grey market sellers just specify the applicable warranty terms at the bottom of the item page, stating that a seller's warranty (rather than a manufacturer's one) is provided.
How do I know a grey market seller is trustworthy?
It is always good to be careful when encountering deals online that seem too good to be true. Yet, Panasonic seems to realise a healthy profit from sales of the GH5 in Europe and North America, such that grey imports can undercut the MSRP markedly. Grey market offers for the Panasonic GH5 can be found notably on Ebay, and sometimes also on Amazon. Both of these shopping platforms provide buyer protection policies and feedback facilities. The latter make it possible to check the sales record of different vendors and weed out the unreliable ones. For example, if an Ebay shop has a history of hundreds of positively evaluated transactions for high-value items and a feedback score of 97 percent or higher, one can realistically expect a smooth sale. Conversely, if a seller has little experience with high-priced products and several of these transactions have been negatively assessed by buyers, it is probably advisable to look elsewhere. You can check the currently available offers for the Panasonic GH5 on Ebay and Amazon via the buttons below.
Should I buy grey market?
Going for the cheaper price of the grey imports can be tempting, but might not be desirable for everyone. If your income depends heavily on your photography, you might value the assurance that comes with an authorized purchase more than the savings the parallel import offers. In particular, in case of any problems with your new Panasonic GH5, you can send it to Panasonic and get it fixed quickly and without hassle, while calling in a seller's warranty will likely be more time-consuming and cumbersome, and, thus, could cost you dearly in terms of lost imaging income. Also, if the currently available discount of the grey market GH5 over the authorized retailer price is modest, you might prefer the peace of mind that comes with the official marketing channel and the associated customer service. On the other hand, if the parallel import is much cheaper than the prevailing retail price, you might well be willing to accept a little bit of additional risk with your camera purchase in return for the possibility to save a good chunk of money that could, for example, serve towards acquiring an additional lens for your GH5.
|Camera Model||Panasonic GH5|
|Camera Type||Mirrorless system camera|
|Camera Lens||Micro Four Thirds lenses|
|Launch Date||January 2017|
|Launch Price||USD 1999|
|Sensor Format||Four Thirds Sensor|
|Sensor Size||17.3 x 13.0 mm|
|Sensor Area||224.9 mm2|
|Sensor Diagonal||21.6 mm|
|Sensor Resolution||20.2 Megapixels|
|Image Resolution||5184 x 3888 pixels|
|Pixel Pitch||3.34 μm|
|Pixel Density||8.96 MP/cm2|
|Moiré control||no AA filter|
|Movie Capability||4K/60p Video|
|ISO Setting||200-25600 ISO|
|ISO Boost||100-25600 ISO|
|Image Processor||Venus 10|
|DXO Sensor Quality (score)||77|
|DXO Color Depth (bits)||23.9|
|DXO Dynamic Range (EV)||13.0|
|DXO Low Light (ISO)||807|
|Viewfinder Type||Electronic viewfinder|
|Viewfinder Field of View||100%|
|Viewfinder Resolution||3680k dots|
|LCD Framing||Live View|
|Rear LCD Size||3.2 inch|
|LCD Resolution||1620k dots|
|LCD Attachment||Swivel screen|
|Autofocus System||Contrast-detect AF|
|Maximum Shutter Speed||1/8000s|
|Continuous Shooting||12 shutter flaps/s|
|Silent Shooting||Electronic Shutter|
|Image Stabilization||In-body stabilization|
|Fill Flash||no On-Board Flash|
|Storage Medium||SDXC cards|
|Second Storage Option||Dual card slots|
|Studio Flash||PC Sync socket|
|USB Connector||USB 3.1|
|HDMI Port||full HDMI|
|Microphone Port||External MIC port|
|Headphone Socket||Headphone port|
|Wifi Support||Wifi built-in|
|Bluetooth Support||Bluetooth built-in|
|Environmental Sealing||Weathersealed body|
|Battery Type||DMW-BLF19 power pack|
|Battery Life (CIPA)||410 shots per charge|
139 x 98 x 87 mm
(5.5 x 3.9 x 3.4 in)
|Camera Weight||725 g (25.6 oz)|
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