Canon EF 24-70/2.8L II returns at $514, Z5 floor breaks: 5 lows (May 27)

Sony E-mount leads today on the back of the A7R VI preorder launch at BH Photo, Amazon, and Adorama on May 26. 1 The cascade is running: A7R V users trading up are compressing the E-mount ladder below them. The A7R V dropped another $40 to $2,429, a new 6-month low with 103 units on MPB. 2

Nikon Z produced the session's most satisfying number: the Z5 floor finally broke after holding $679 for four consecutive days, stepping down to $619. A 4-day price hold on 28 units is a consolidation, not a floor — the $60 step today confirms that. 3

Canon EF: the 24-70mm f/2.8L II USM vanished from MPB between May 23–25 and returned with 32 units at $514 — $225 below its pre-delisting floor of $739. Mixed grades in the relisted pool; read the grade notes before ordering.

Fujifilm X-T5 dropped $70 to $1,439. Panasonic S1R holds at $1,339 with 3 units. OM-1 status: 40 units at $1,039 on MPB — inventory actually grew from the 10+ reported yesterday. 4 Not a fire sale anymore; persistent floor. Used below as a pairing reference.

6-month range: $514–$1,549 (current floor $514; pre-delisting floor was $739 as of May 23) 5

Why it's low now: The lens vanished from MPB US between May 23–25 and returned with 32 units at a floor $225 below its pre-delisting level. The wide price spread ($514–$1,549) tells you the pool contains mixed grades. The $514 units are almost certainly MPB Good — cosmetic marks, optically functional. The $1,549 units are Like New. Before ordering the lowest-priced unit, pull up the specific SKU's condition notes and confirm the rear element is clean and zoom/focus rings move without binding.

The EF 24-70mm f/2.8L II USM is Canon's professional standard zoom for EF-mount bodies — 82mm filter thread, no IS, L-series weather sealing. It works on EF DSLRs (5D IV, 6D II, 90D) natively and on RF bodies (R5, R6, R3) via the Canon EF-EOS R adapter ($99 new). At $514 for the lens, the glass-plus-adapter combo still undercuts most used EF 24-70mm f/2.8L I USM prices.

Shutter count: Not applicable — lens.

Red flags: No model-level decentering issues with the II. Individual unit QC on heavily used wedding and event glass varies. Confirm zoom ring action and front/rear element clarity in the condition notes.

Pull trigger or wait: High confidence buy — verify the grade on your specific unit. $514 is $225 below where this lens was trading five days ago. The delisting-and-restock pattern suggests MPB processed a batch of trade-ins at lower grades; those units price correctly at $514. For EF or RF shooters, this is the sharpest professional standard zoom available at this price point from any credentialed dealer.

If you're in the EF/RF system: Canon RF 24-105mm f/4 L IS USM at $904 on MPB (holding for its second day below the $1,000 barrier, 94 units) 6 is worth stacking if you need native RF reach for IS-assisted video or handheld travel. The EF 24-70/2.8 II covers events and controlled light; the RF 24-105/4 handles the rest.

6-month range: $2,429–$2,729 (today's $2,429 is a new 6-month floor; May 26 floor was $2,469) 2

Why it's low now: The A7R VI preorder opened May 26 — that's the only catalyst needed. At 103 units on MPB, supply is not scarce. The A7R V (61MP BSI CMOS, AI autofocus, 8-stop IBIS, 8K video) is the body that set the benchmark for commercial and architectural work; at $2,429, it is $770 below its $3,199 MSRP.

Shutter count: One confirmed unit — SKU 3465994, Excellent, 8,980 actuations at $2,709. 2 Like New units at $2,719–$2,729 show counts of 3,290 to 8,613. The A7R V's shutter is rated for 500,000 actuations; all are effectively new in mechanical wear terms. The $2,429 floor units may be Excellent or Good — request the count before checkout.

Red flags: No model-level defects or recalls at any A7R V serial range.

Pull trigger or wait: High confidence buy. This is a real 6-month low, the catalyst is structural (not seasonal), and 103 units means no scarcity pressure to rush. A7R IV owners who have been waiting for the V to fall below $2,500 are at their window.

If you're in Sony E: Sony FE 24-105mm f/4 G OSS at $444 on MPB — 63 units, floor unchanged. 7 Pairing the A7R V with the 24-105/4 G OSS gives a weather-sealed 61MP kit at $2,873 — less than the A7R V body sold for new six months ago.

6-month range: $619–$1,099 (today's $619 is a new confirmed 6-month low; the prior floor of $679 held for 4 consecutive days before breaking) 3

Why it's low now: Four days of consolidation ending in a floor break is exactly what MPB inventory pressure looks like when supply outpaces sell-through. The Z5 (24.3MP full-frame Z-mount, 5-axis IBIS, dual UHS-II SD) launched at $1,396 in 2020. The Z50 II — Nikon's current APS-C Z-mount body — lists at $884 on MPB. 3 The Z5 is full-frame; the Z50 II is APS-C. At $619, the Z5 is the cheapest full-frame mirrorless with dealer warranty at any credentialed US seller right now.

Shutter count: 28 units available. One confirmed SKU: MPB unit 3898139, Like New grade, 34,873 shutter actuations. 3 The Z5's mechanical shutter is rated for 200,000 actuations — 34,873 is 17% of rated life. Request the count on the specific unit you intend to order.

Red flags: No batch defects or recalls at any Z5 serial range. Nikon F-mount glass users: the FTZ II adapter runs $99–$150 new and provides full electronic communication with AF-S and AF-P lenses.

Pull trigger or wait: High confidence buy. $60 below yesterday, $480 below the Z50 II, and a shutter count under 35,000 is confirmed on at least one unit.

If you're in Nikon Z: Nikon Nikkor Z 40mm f/2 at $179–$204 on MPB, 10+ units. 8 Z5 at $619 plus Z 40mm f/2 at $179 = $798 for a full-frame mirrorless kit with a compact standard prime.

6-month range: $1,339–$3,699 (MSRP at launch; $1,339 equals 64% off) 9

Why it's low now: The S1R II launched in 2025, directly displacing the original S1R (2019, 47.3MP, $3,699 MSRP). The S1R II is confirmed available on MPB at $2,599–$2,639. 9 When the second generation arrives in the used market, the first-generation price collapses. At $1,339, the S1R delivers 47.3MP BSI CMOS, 6-stop IBIS, Dual Native ISO 100–51200, and L-mount compatibility with Sigma Art, Leica SL, and Panasonic S lenses.

Three specific units on MPB: SKU 3780013 (Excellent, $1,339, battery + charger + AC adapter + eyecup), SKU 3837192 (Like New, $1,369, shoulder strap, battery, charger, eyecup, USB-C cable), SKU 3836656 (Excellent, $1,379, full original kit with manual and packaging). 9

Shutter count: MPB does not test shutter actuations. The S1R's mechanical shutter is rated for 400,000 cycles. The body is a 2019 release; expect counts in the 20,000–80,000 range. Contact MPB support to confirm before ordering.

Red flags: No model-level defects or recalls. At 7 years old, confirm the OLED viewfinder, rear LCD, and sensor are clean in the condition notes. Three units is not a floor — it's a closeout. These will not restock.

Pull trigger or wait: Buy — 3 units only. There is no deeper floor waiting below $1,339 for a 7-year-old body. L-mount photographers who have held out for sub-$1,500 S1R pricing are looking at their final window at a credentialed dealer.

If you're building L-mount: Panasonic Lumix S 20-60mm f/3.5-5.6 at $214 on MPB, 10+ units. 10 Also 64% off its $599 MSRP. S1R at $1,339 plus 20-60mm at $214 = $1,553 — a 47MP full-frame weather-sealed kit for under $1,600.

6-month range: $1,439–$1,699 (today's $1,439 is a new 6-month low; May 26 floor was $1,509) 11

Why it's low now: A $70 single-day drop (4.6%) on a 10+ unit pool, arriving in the same week that 13 third-party AF lenses for Fujifilm X/GFX were announced from Viltrox, 7Artisans, Laowa, and Meike. 12 When the lens ecosystem expands rapidly, body prices compress to match. The X-T5 is the current-generation Fujifilm APS-C flagship: 40MP X-Trans CMOS 5 HR sensor, 7-stop IBIS, 15fps mechanical shutter, film simulation engine. It is the highest-resolution APS-C body available in the used market today at any price. At $1,439, it is $360 below its launch MSRP.

Shutter count: Not confirmed on the specific units at $1,439. The X-T5's mechanical shutter is rated for 150,000 actuations. At this price point, request the count on your intended unit — particularly relevant because the X-T5's 40MP pixel-shift mode drives mechanical actuations at 4× the normal rate for photographers who use that feature regularly.

Red flags: No batch defects at any X-T5 serial range. Confirm that in-body stabilization is functioning — IBIS failures are the most common mechanical issue on high-MP Fujifilm bodies after heavy use.

Pull trigger or wait: Buy, or wait for further drop. $1,439 is a new low, but at $70 off (4.6%) the catalysts — third-party lens announcements — are structural and ongoing. A further $50–$100 step-down over the next two to three weeks is plausible if the third-party lens cycle continues to compress X system body demand. If the X-T5 is what you need today, $1,439 is a fair entry. If you can hold 2–3 weeks, you may do better.

If you're in Fujifilm X: Fujifilm XF 16-55mm f/2.8 R LM WR at $539 on MPB has been on the radar since May 24 — still one of the sharpest X-mount standard zooms and weather-sealed to match the X-T5 body. Check MPB directly for current stock before pairing.