The Cost
The driving influence on the price of a lens is the diameter of the largest
element in that lens. This is particularly true of telephoto lenses, less so for
lenses around 50mm focal length and then true again for wideangle lenses of
retro-focus (inverted telephoto) design. For the latter, in order to clear the
mirror of the SLR, the rear element has to be moved away from the focal plane
(by an inverted telephoto arrangement) which means that the front element of the
lens is proportionally much larger and so the cost model comes back in again
(study the graphs!).
In order to get the data onto a single graph (so we could look at it) we have plotted the 'Effective Aperture' of the lens against its street price. The effective aperture is simply the focal length (maximum for a zoom) divided by the maximum f-stop. For telephoto and telephoto zooms, the relationship is more or less linear, ie you get what you pay for – more focal length and more light-gathering power costs more money. As expected the relationship breaks down a little for lenses around 50mm focal length but then starts to sweep up again as larger elements are employed for short focal length inverted telephoto designs.
It is because aperture is the controlling influence on cost that you should
spend the greatest time assessing just how much you need. Here is an example: if
you are imaging morbid laboratory specimens (ie dead and not moving!) then an
enlarging lens with an aperture of f5.6 and some form of bellows attachment is
all you would need for imaging at a magnification of 1:1. You would slowly and
carefully focus in what will be quite dim conditions, stop down, lock up the
mirror and shoot. Things change rapidly if the specimen is a butterfly in the
open. Now you have to focus really quickly and the f2.8 macro lens with an
automatic aperture comes into its own, possibly with a bit of image
stabilisation to help you as well. The difference in cost is many-fold.
Having a small aperture reduces cost but also reduces weight and
increases portability. In today's air travel, weight may be critical – Ryanair
will be rubbing their grubby little hands in glee as they see you lugging your
400mm F2.8 towards the check-in desk – and you thought you got ripped off for
the lens!
Once you have fixed your mind on the lens' requirements you have to start
agonising over whether you can afford it. In the UK at the present time you can
get an OEM lens for around 70% of its SRP. If you are locked into a camera
marque which offers an abundance of lens choice (eg Nikon or Canon) then you are
likely to stay with your favourite and keep things in the family. If that is
outside of budget you have very little optical compromise to make by moving to
the independents (mainly Sigma with a little help from Tamron and Tokina).
On our graph the slope of the line in the telephoto part of the curves
represents the average costs compared with the effective aperture. Thus Canon
are the most expensive with a line slope of £90 per mm of diameter, then Nikon
at £72 per mm of diameter and then Sigma at £50 per mm of diameter. The outliers
on the graphs are caused by additional features such as zoom construction,
stabilisers or the ability to close focus (although there seems to be little
penalty for macro lenses).
Please note that these graphs are intended as indications only, you will have to
do your own homework – remember, you are about to invest a load of cash from
your business, you need to get it right. Talking of business, it is bad tactics
to buy grey imports. The chances are that the low price is obtained by both tax
and VAT avoidance. Your accountant and (heaven forbid) a VAT inspector will be
asking for your paper work downstream. Should you break a lens the repairers may
also need proof of import duty payment (Sigma certainly do). You have been
warned!
The
Alternative Solutions
Even having considered the choices thus far you still have options. Suppose you
need 400mm of focal length (or close to). You can achieve this with the
following options from Nikon, for example:
The 200mm plus a 2x converter might be a good deal for someone who can also make
good use of a fast 200mm lens (indoor sport?); the 200–400 for somebody for whom
flexibility is paramount, but every ounce of light-gathering is not; the most
expensive AFS 400mm F2.8 might be essential for the sports photographer shooting
under floodlit conditions. On top of all this you have to throw in the effect of
the chip size. So much choice and so few sheckles! These deliberations take no
account of focusing speed, VR performance, weight or physical size – all are
important!

What Actually Happens
This is a secret between the photographer and like-minded souls! Often you end
up buying the most expensive thing you think you can afford. Mistakes up to
200mm are relatively painless but things get progressively more injurious as you
go bigger, either on your wallet or your neck. Never buy anything over £2,000
without trying it out and that includes hiring the brute for as long as it takes
to get a true feel of it – what feels good on the shop floor at Calumet feels a
whole bunch different after a day at an athletics meeting when you are
sun-burned, dehydrated and hypoglycaemic!
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