Although supply and demand play a larger role in the value of antique, collectible , and discontinued photo equipment, all photo equipment is affected by it to some degree. When there are limited numbers of a particular photographic item, the value of that item will go up as more people desire it.
Condition is the most important factor influencing the overall value of photo equipment.
A camera or lens in excellent condition is worth more than the same model in lesser condition. Many large, used equipment dealers have their own rating scales to determine the condition of photo equipment. The following rating scale was created using those as a reference. Original packaging and instructions are often included. Above average cosmetics.