A new rumor has been making its way across the interweb today that Canon’s newest mirrorless camera, the EOS R5 will cost around $6700 according to a “leak” by an Australian retailer. The Australian retailer in question, Camera Warehouse, listed the price at AU$10,499 which converts to just over $6700 USD. So is the Canon EOS R going to cost more than the flagship Canon EOS 1DX Mark III? Not likely!
[Related Reading: Canon Releases More Specs for the Canon EOS R5]
Let’s look at why there’s little chance that the EOS R5 will cost anywhere near $6700.
- The rumor comes from the fact that a retailer in Australia listed the price on its website well before Canon has even hinted at what the price will be. This kind of thing has happened many times before, and it rarely turns out to be an accurate way of determining the price of an upcoming product. More likely than not, the website put in a random price and accidentally published it.
- Canon has stated previously that the EOS R5 is positioned to be comparable to the 5D lineup. When the Canon 5D Mk IV was released in September 2016, it retailed for $3,499. When the Canon 5D Mk III was released in March 2012 it retailed at $3,499. Notice a pattern? That doesn’t mean that the Canon EOS R5 will retail at $3,499, but it’s highly unlikely they’re going to double the retail price for a camera they’re hoping will become the next game-changing camera for a generation.
- In the current economic environment, there is no way that many photographers would be able to afford this camera at $6,700. If Canon really wants to get this camera into as many hands as possible, it’s going to have to price it to sell as many units as it can. Yes, it has revolutionary technology, but so do cameras like the Sony a9 (which retails for $3,498). If they want to compete, the camera will have to be in that price range.
So the question is, how much will the Canon EOS R5 cost when it’s released? The fact is, right now only the good folks at Canon know for sure. But based on all of the evidence, I’d make an educated guess that the EOS R5 is going to cost between $3,499 and $3,999.
So there you have it, folks, the Canon EOS R5 will cost $3,499, not $6,700. You heard it here first.
Update (5/26/2020): Canon Rumors has confirmed what I suspected, that the EOS R5 will be priced below $4000. I still think it’ll be priced $3,499. Let us know what you think it’ll cost in the comments below.