Matterport camera trade-in value?

Hello everybody,

As you know Matterport recently announced the Matterport Pro2 camera. With this announcement they mentioned a rebate value of up to $3,345 for those who purchased After December 1st, 2016 - well, I purchased mine one day before on November 30th, 2016 and didn't have the camera until mid December due to shipping. After having to ask if they would extend me the courtesy of including me in the trade-in program (after initially giving me a hard no) they eventually acquiesced and sent me an trade-in value offer of $1,745 for my camera. I purchased it for $3,600.

Now, I've only hosted 12 models and my camera is in pristine condition. A quick calculation tells me that Matterport has depreciated my camera 51.53% in only 5 months, a roughly 10% depreciation per month. 

My question is, is that depreciation reasonable to what you've seen? Has anyone else been quoted a rebate on their camera similar to mine? 

Thanks

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  • Official comment

     

    Hi everyone,

    Several weeks back, this thread began and has taken on a life of it's own.  First off, thank you Chris Hickman for being so quick to chime in on many of the questions.  I think it's probably important to acknowledge that an official Matterport response should have been posted at the very beginning.

    I apologize whole-heartedly to those on this thread who had to wait this long to hear back.

    The question of trade-ins, no doubt, has been a very sensitive issue. Since the launch of the Pro2 camera, the issue of trade-ins has been the subject of a good number of calls our customer success team has received.

    In many cases, our support team was able to help talk through questions and concerns and really help our customer achieve a successful result. In other instances, customers remained upset we could not increase the amount of the trade-in value.

    Over the course of the next few days, several of you who have posted here may hear from me personally as I trace a path toward understanding what Matterport can do to really address your concerns.  

    We created the Matterport Community as a means to more easily monitor the pulse of the members of our community and we should be able to respond more effectively and quickly. No question.

    Thank you for your patience. 

    Sibyl

     

     

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  • Frustrating for a lot of owners...

    I bought mine in September 2016, which would mean it has fully depreciated in 9 months! Given that it's still under warranty for three more months, it's surprising.

    It would make a lot more sense for any camera that is still under warranty (and especially yours) to be at least 50% off

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  • @Keegan - I'm excited that Matterport has given you an opportunity to trade-in for $1,745 off your camera.  

    I'm not sure that Matterport has taken a depreciation model into consideration.

    By owning your camera for 6 months, you've had about 180 days to use the camera and scan with it.  I'm certain that the # of scans that you've done is not a factor in the trade in value.

    Imagine that you scanned 24 models in 6 months with a meager $150 profit margin on each scan.  At that point, you made $3600 and made back your investment on the camera.

    Imagine also that you had rented your camera instead -- if it were possible.  Adorama.com will rent you a Canon 5D Kit, valued at $3900, for $270/week.  (http://www.adoramarentals.com/c-11/dslr).  It would cost $1800 just to rent such a camera for 7 weeks.

    I hope some of these perspectives might be helpful with the hard pill to swallow that is upgrading.  Having to invest more money into one's business in order to stay competitive and offer client the best is hard, but I do believe it's the right move to make!  The Pro2 camera is a leap forward in quality and clients will appreciate the difference -- and they may choose you over other MSPs in the area!

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  • No the depreciation is more because I bought my camera in Feb 2017 and they're only offering me a $1700 value... I'm not happy with Matterport on this. 

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  • Me too, I bought mine also in februari and got a refund offer of $1745 , I was very disappointed with this offer.

    My feeling is that the up to $3345 is a nice teaser but you will have to have bought it yesterday to get back that amount.

    I find the refund to little to consider it at this point.

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  • I am not to happy with Matterport right now.  It seems the sale rep Eric Adams is hiding and can not be reached by the phone he gave me.  Also Matterport want to charge my credit card the $4,000 first and then apply the trade in value later back on my card.

    Knowing how things can happen, I can see me getting stuck with 2 cameras.

     

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  • @George Teynor -- Given that today is Monday, is it possible that Eric might have been hiding because it was the weekend?

    The trade-in program is designed where you pre-order the Pro2 and receive your trade-in when they receive your Pro1 camera.  This way you can continue scanning until your Pro2 is in your hands.  If you look at it the other way -- people could end out getting a huge discount on the Pro2 and keeping both cameras :)

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  • @Chris Hickman... Why can I just mail back the Camera I have and the Matterport can just ship out the new one to me after trade in and tax, shipping cost.

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  • My guesses:

    #1) Pro2 is not ready to ship (hence it's a pre-order)

    #2) Pro1 Trade-In needs to be evaluated for condition.

    #3) Most MSPs do not want to be without their cameras.  Allowing the customer to keep their camera until the new one is in their hands allows them to continue scanning.

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  • Here is my situation and I am really not happy.

    I purchased my Matterport MC-200 new on April 28th, just over five weeks ago. I specifically asked if there was a new camera on the horizon because I am in the technology industry and know how it works. I was told, "No. There are no new cameras coming out. The MC-200 is state of the art and will be our only camera for some time." Evidently 'Some-Time' means 5-6 weeks.

    My serial number was not recognized on the Trade-in site. Pressing submit only reloaded the page. After three days of calling and leaving voice messages, I finally reached a live person today. I never received a call back. Here is part of my response after being told that my serial number could not be located in the system and being asked the following:

    ► Did you buy it used?
    ► Did you get it from a third-party?

    ► Are you sure you purchased it from Matterport?
    ► Are you sure you purchased it from us? (Yes, she asked me at least twice)

    Here is my response via email after the rep asked me to send my receipt to prove that I purchased it in April from Matterport.

    Hello Xxxxxxxx,

     Thank you so much for your professionalism and pleasant attitude.

     I have attached my receipt. I am concerned about a couple of issues and plan to contact your CFO (whom was involved in approving my purchase) regarding this matter.

     My Concerns:

    1. A camera purchased new five weeks ago does not appear in your system. What happens if I need a warranty repair?
    2. I specifically asked if there was a new camera in development or coming out soon and was reassured that there were no new cameras planned for the near future.
    3. Also, purchased or financed should not make a difference (I am told financed cameras are not eligible for the trade-in program), especially in light of bullet point #2 above.

     *Note: I will pay off my camera and end the financing (I haven’t even made my first payment yet). I paid $1,800 down which is way above the $500 required for broker financing.

     Thanks again Xxxxxx and I look forward to your findings.

     

    Matterport Community, am I wrong to be concerned and upset? BTW, I did not receive the call-back I was promised. :-(

     

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  • I really hope Matterport fixes this. I'm still not a happy customer. And I don't know if I'll push their service after this stunt.

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  • I purchased mine in mid March 2017 and asked the same question about a new camera being developed and was told there was not.

    As a side issue I also asked about the number of other Matterport operators in the area and surrounding area where I live and was told that there were none. Not that it really mattered I had decided to purchased and had my business plan all set out. Yes you guessed the sales guy was wrong about other operators in the area. 

    So it came as a surprise when Matterport announced the new camera. I was disappointed and thought that I would trade it in but was only offered $2,300 trade in no where near the amount that was thrown out there. 

    I am lucky I can afford to buy a new camera and keep my old one and I use the term old sarcastically, I have looked at the specifications and yes the PRO2 is better than the PRO but not by that much so I will continue to use my OLD camera in my business.

    I think the moral is do not believe anyone in sales because they are out to sell the product. I do not regret purchasing the camera and I think the end product is great, would I have waited if told a new enhanced camera would be available possibly at the end of June most probably not. But it would have been nice to have had the facts to make that decision.  

     

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  • @Karl Martin - As you purchased your Matterport in March, it wouldn't be until July that you would receive your Pro2 -- this means that you would have been able to operate for almost 5 months for $1200 after the exchange -- or $240/mo.  Considering the opportunities that you may have received during that time, I would highly recommend that you take advantage of the trade-up offer as you will strongly favor the Pro2 and it will likely give you an advantage over those other MSPs in your area for a while! It's a silver lining and a way to make some lemonade over the situation.

    I do believe that there's an element of one hand not knowing what the other is doing -- Matterport's sales team and development team are in two separate regions and I'm not certain that they knew that the Pro2 was coming.

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  • What about my situation (See post above)? I specifically asked the rep to check about a new camera. I was willing to wait and was still told there was no new camera on the way. I was manually stitching my panos and was looking for a less time consuming workflow. Waiting until July was no problem and I mentioned that also.I feel I was blatantly lied to. This seems to be an unfortunate truth.

    I still have faith in Matterport and hope my sales experience was not representative of Matterport as a company. I was contacted by a different support rep on Tuesday but have yet to hear back from anyone and it is Friday evening. 

    I have now had my camera approximately 33 days.

     

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  • @Jim - "deep, dark silence" --

    Matterport has been actively engaging MSPs in the forum and via the newsletter.  They recognize the difficulties for some concerning the release of the new Pro2.

    It is my understanding that Matterport is taking a financial loss on every trade-in.

    The value of your trade-in depreciates by each month of ownership.  In theory, if you owned the camera for 3 months, you should have been able to use it to earn revenue.  Thus, the depreciation can be viewed as a 'rental' type expense.

    Consider - if Matterport bought back all of the Pro-1 cameras that they sold this year in order to launch the Pro-2 - how would that have affected the Pro-2 launch?  It would have been financially catastrophic and likely would have caused either a launch delay, or inflation in the price of the Pro-2 in order to increase the value of the Pro-1.

    Consider what you may not know - The sales team is not briefed to advise on unannounced hardware.  The development team has target dates, but may not know when the product will be ready to ship.  If the Pro-2 had been scheduled to March, but delayed until July - camera sales would have stopped and there would be an equally nasty amount of grumbling on the forums with people vocally doubting Matterport's competency.  More complaints would have arisen as Matterport would be flooded with orders that they would need to fulfill -- leaving some people waiting until August or September.

    Ultimately, Matterport will continue to innovate and release new products.

    If you have a win-win solution to offer Matterport, then I'd love to hear it.  No sarcasm at all.  How should they handle it next time in your opinion?

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  • @ Chris Hickman - for starters they could take steps to reduce the department silos that are obviously not on the same page with one another. Second, they could definitely be more up front with the Pro2 release date so everyone who purchased Pro's could have waited to get a better product. Second, the depreciation method you keep mentioning is an obvious benefit for Matterport, not the camera owner. 

    My camera depreciated over 50% in only 5 months according to real depreciation. Yes, Matterport will continue to innovate, thats a good thing. Doing so honestly and ethically will keep their customers happy. Withholding vital information in the name of making more sales NOW is a tactic that doesn't keep the buyers in mind whatsoever. 

    Personally, I have already lost sales from the new Pro2 camera's being advertised to the same people I am trying to serve. A little over a week ago I watched a 70-property contract disappear into thin air because the client "saw an ad for 4K" and the newest and best camera Pro2. Now another part of my job is having to explain why my camera is still perfectly fine to each and every client. Not fun. 

    So Matterport is cannibalizing sales from my business trying to sell cameras to the people I market to, but that's a whole other grievance. 

    I don't mean to sound like this is all Matterports fault, I take responsibility for my own business, but I can't get this slimy feeling out of my system from Matterport, and that causes me to think about their business practices. 

    And I would have to agree with @JimMeacci - if it isn't silence, it's just all the things we don't want to hear. 

    @ChrisHickman do you work for Matterport by chance? lol

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  • @Jim - I run www.metroplex360.com.  I've been an MSP for 2 years.  I've been a huge advocate for the community during that time.  

    I have created many proof-of-concepts and hacks of the platform that have drawn positive and negative attention from both MSPs and Matterport and at times have put my account in jeopardy due to terms of service violations.  My work has included a prototype that extended Showcase to include Multimedia Mattertags - a feature that proritized the release of this feature in Showcase.  I have also published proof of concepts using reverse proxys to remove cameras from mirrors, insert Pokemon into tours and other things.

    At this stage, I'm signed up as a beta tester to everything I can get my hands on.  I was a field tester for the Pro-2 camera and had to bear the burden of the NDA concerning it.  Because of my experience with it, submitting feedback and bug reports, etc. - I felt very connected to the launch of the product.

    I don't work for Matterport - but I am eager to participate in any beta testing programs that they may have.  

    My goal is to help make it a better product for myself and other MSPs.  In other words - I'm a very vocal enthusiast of the product, and of the company based on my experience and understanding of what's happening in the "deep dark silence."

    Concerning talking - I'd be happy to - but there's no way to easily exchange personal information on the Matterport Community.  E-mail is better.

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  • @Keegan -

    #1) Sales is in Chicago, Development / Admin is in San Francisco.  I think that sales is given information on an as-needed basis.  I imagine that with all companies, sales is not briefed until a product is available for order.  I see the same thing with cell phone companies even when the rumor websites get leaks for upcoming deals on phones and new rate plans.  I'm sure it's normal practice.

    #2) The depreciation notion vs. rental value is my invention.  If it doesn't work for you, that is completely on me.  :)  The fact that Matterport loses money on trade-ins is not my invention -- it's a gift from them even if it still doesn't adequately make things feel right to the MSP.

    #3) I totally understand that NOT having the Pro2 is an advantage to people marketing AGAINST you -- I do hear you.  I -am- guilty of using that same tactic, so - although I have not sold a single tour wherein the Pro2 was the reason.  I find that picking up the phone when it rings vs. delayed response is the #1 way to sell over another MSP.

    --

    I have my own opinion on how I think Matterport could make things 'right' for everyone and have already solicited it.  By posting it, I would imagine that it would decrease the possibility of it happening.

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  • Quick but valid comment. If a prospective camera customer asks you if there is another camera on the horizon and you do not know, say you do not know. Matterport  sales said there are none on the horizon. I still find it hard to believe there was no information shared with the sales force but that is something none of us can validate, including Chris.

    I was fully prepared to wait if there was a new cam on the way which is the part that upsets me the most. 

    As for the overall sales tactics and grumblings within the forum regarding those tactics, I guess time will tell for me but it does seem Matterport  gets very silent on these issues while Chris Hickman answers more questions than Matterport  does. While Chris' responses do answer many questions, an MSP response is not an official Matterport response. 

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  • @Troy - Correct, nothing I say is official or supported by Matterport.  Just trying to help.

    As for your situation, you are entitled to one of the highest trade-in values. Have you tried the live chat for help?  In my experience, they are much more responsive.

    ----

    I contacted support via live chat on your behalf to test responsiveness -- great chat -- will post if they allow it.
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  • I am one of the affected and unhappy new customers too. When Matterport was selling me the "old" camera, their service was excellent. Response was super fast. Now I understand why. It is because they wish to get rid of the "old" camera fast.

    Then suddenly, the news of the new Pro2 came out. I have not even started using Matterport camera till now. It is still in BRAND NEW condition but sadly it is now an OLD camera.

    Emailed to Matterport, and then for the past one month, they "disappeared". Response become super slow. No one in Matterport is interested to help. They need 1-3 weeks to reply one email, and yet none of their replies clarify and answer my questions and concerns. Till now, I am still waiting for a response... even though they promised will look into the matter and come back to me. Then disappeared and I have to keep chasing them for a response.

    Anyway, above is my own experience too. At the very least, Matterport should have the courtesy to reply and tell me they are not interested to help resolve my concerns. I can then give up entirely. Not giving fake promises and then disappear, and hope I never follow up.

    Extremely dissappointed in how Matterport provide their non-existent support and service.

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  • @Jack - Click on the live chat help on the bottom right of this site and try Live Chat support.  See what happens.

     

    I'm not a fan of the experiences posted here by you or @Troy and would like the resolution to happen and be posted here.

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  • @Chris,

    Thank you for trying to help.

    I am not seeing any live chat button on my screen. There is only a "?" button and when clicked will go into a Help Center page. Does this Live Chat button only appear in certain times or countries?

    Talking about live chat, they were so eager to sell me the "old" camera that we had live chat over Skype with their sales person. In one of my emails to them now, I asked if we can do a Skype to clarify all issues. Yah, either they are ignoring me or purposely never read that email.

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  • @Jack - Live Chat Support is not available this late at night.  Only crazies like us awake right now :)  But I really don't think there's a conspiracy going on.  

    If sales is truly causing you to feel this way, then management will want to correct that.

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  • @Chris,

    Ok, let me wait till next week and see if I can find the live chat button. Else, will send another email to chase for update.

    I am actually not very unhappy with their sales (assuming sales really had no idea on the Pro2 when selling me the Pro1 camera). The sales person responsiveness and service is excellent. He had tried to help me in this upgrading issues. Though he promised to put my case as their "top priority". Guess nothing he can do after passing my case along to another "support" person. Probably none of their support is interested to help. So just passing my case around..

    Abigail replied me on 6 Jul said "sorry, she was on holidays." She promised to take care of it "today". Then a Richard sent me an email with a standard "template" reply that did not address any of my concerns at all. Then both dissappeared with no further reply.

    What I am unhappy is how Matterport support and management is handling the whole issue now. Not just with me. It seems many other new and old customers are affected too, though we may each have our own different concerns.

    I am from Singapore in South East Asia I paid hefty fees and additional charges i.e. shipping, insurance, import taxes and currency conversion, to bring the "old" camera to my country. If I proceed with the trade in, I would lose approx 2000USD to return a BRAND NEW Pro1 camera for a refubished Pro2 camera.

    Now Matterport had offered me a trade in value. Even though I am unhappy and feel the trade in value is low for my BRAND NEW "old" camera, I am agreeable to the low trade in value. But I would have to pay all the above hefty and additional fees and charges again for the 2nd time. The refunding payment and method means I need to pay additional currency conversion for the Pro2, and the trade in value (paying 3 times conversion fee for 1 camera). And then more additional costs to ship back the "old" camera.

    I emailed Matterport with my above concerns and offered them some terms in order to justify me accepting the low trade in value.

    Cannot understand why they cannot just reply to address my concerns. What I keep seeing the same standard template replies.. and they need 1-2 weeks to give a template reply..

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  • For those here with issues, please contact support on Monday when they are available.  Ask to speak to someone who is -not- in sales then let us know how it goes.

    I've heard plenty of amazing stories from many MSPs about Matterport going the extra mile for them.

    How many people do you think are in the same boat as @Jim, @Jack and @Troy?

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  • In case of tech which is changing very fast, that´s a fact.
    We bought ours end of 2016 for $4500 + shipping + tax etc. to germany.

    So don´t ask how we feel, not to mention all the other issues.

    What me worries most is that you would buy a Pro2 134 Megapixel Camera and only get access to an about 10 Megapixel Panorama to download.

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  • @MarcusMorba I like your suggestion that the Pro2 should include full resolution downloads as an added value.  I agree.  If the # of megapixels is advertised, I would personally expect that feature.

    -

    And -- as mentioned on Friday - I wanted to click the 'HELP' icon and try out live support to see if I could get someone to speak to me.  It took just a minute before someone was there to help.  Log is below.

     

    Chat started: 2017-07-07 08:29 PM UTC

    (08:29:27 PM) Chris Hickman: Troy Gray on the forum is having a tough time receiving support for a trade in on a camera purchased on April 28th. Can you guys assist him?

    https://support.matterport.com/hc/en-us/community/posts/115008061848-Matterport-camera-trade-in-value-
    (08:30:28 PM) Customer Service: We apologize for keeping you waiting. Our operators are busy at the moment, please leave us a message with your email address and we'll get back to you shortly.
    (08:31:26 PM) Chris Hickman: I was asking in an attempt to prove a point about responsiveness of Matterport's Customer Service ... this isn't proving the point though :)
    (08:32:44 PM) *** Chris H. joined the chat ***
    (08:33:27 PM) Chris H.: Hey Chris, apologies for the delay.
    (08:33:41 PM) Chris Hickman: Hello Chris H - we have the same name!
    (08:34:01 PM) Chris H.: haha there seems to be a ton of Chris Hs in the world
    (08:34:23 PM) Chris H.: do you have Troy Gray's email I can look up?
    (08:34:26 PM) Chris Hickman: There's a Realtor in my area with my exact name. :)
    (08:34:33 PM) Chris Hickman: No, I don't - he's on the community forum though.
    (08:34:43 PM) Chris Hickman: https://support.matterport.com/hc/en-us/profiles/22639314188-Troy-Gray
    (08:35:28 PM) Chris H.: it looks like the customer support manager reached out to him directly
    (08:36:40 PM) Chris H.: if you had a specific question from Troy, I can go ahead and ask :)
    (08:37:03 PM) Chris Hickman: Hopefully it's cleared up then. His lack of support is dangling on the support forum and I'd rather see him post about the situation resolved than to leave it hanging. It creates negative sentiment towards support.
    (08:37:44 PM) Chris H.: agreed!
    (08:38:10 PM) Chris H.: I'll shoot our conversation over to the manager and if there are anything pressing he'll reach out and get it sorted
    (08:38:27 PM) Chris Hickman: Thanks. Do you mind if I post our short interaction on the forum as an example of how well the live chat system works?
    (08:40:11 PM) Chris H.: I dont think it'll be an issue but let me double check

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  • Thank you Chris and Sibyl.
    Update: I have received a response from Matterport Richard.

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