Wasted Toys. What to do?

insanityfw

insanityfw

Ban Me Please!
Hey all. I've been around here for a while trying to build up my skills and contribute to this community from time to time, but time and other commitments are leaving me in a bad place with no time to be a filmmaker.

I bought the DVX and a ton of gear when I started a company a couple years ago with two guys. We did a couple of projects and then creative differences killed my involvement.. So I've been sitting around a producer/director with all this gear and trying to figure out how to use it. I've found out that I don't have the skills to be a DP (which is why I decided not to buy the HVX), but I hate to give up gear because I like toys. At least if I have it and IF it's needed then it's available, but it seems silly to have this stuff around just collecting dust. I've let people use it for free before just to get usage, but again a waste of money.

I am planning a feature this winter, but probably won't shoot on DVX, but if I do there are plenty of them out there. I have somebody that might want the gear, but I'm not certain and he's not certain.

I just need some feedback on what people would do. I know this is a self-indulgent post, but this is really racking my brain. The biggest problem is that I probably have more than $15k into hardware and will only be able to get 8-10k for it. So is it worth it to sell it or just keep it in case I need it. Plus, selling this much gear could take every bit of free time I have. 8k is a lot of money, but my life wont change much with or without it. I've tried to sell the camera before, but never had any serious takers, so I pulled back. Maybe I should sell the camera and some basic gear and keep things like dolly, crane, Magiqcam. ????

I've listed the basics of the gear I have so that people can comment. I know things can get out of hand with the comments at times, but calmer heads always prevail and good advice rises to the surface. I think my list of gear shows why it's hard to think about getting rid of it, but then also why it's a waste to have it sitting around.

thanks for listening. If people don't care about this post I will delete it in a day so as not to hog bandwidth.

Thanks for your input,

Jason


Gear:

1. Panasonic DVX-100A (less than 50 hours) with Panny case
a. (2) extra batteries
b. Focus ring with follow focus gear.
c.Cavision support rods. Focallizarre follow focus (a piece of junk)
d. Formatt F-500 mattebox
e. ND, Polorizer and Black Frost 1/2-4x4 filters (a few colored, resin filters)
f. 72mm UV, screw-mount filter.
g. Century Optics .6x wide angle lens
h. Pro Vista tripod and head
i. Bogen 503/525 tripod and head

2. Magiqcam steadicam-like camera stabilizer, case, etc
3. Dual-grip shoulder brace.
4. Cobra Crane 2 plus
5. 5.6” Video monitor w/ two (2) batteries.
6. Britek Tungsten lighting units
a. Dual 600/300 watt with barndoor and softbox
b. Dual 500/250 watt with barndoor and softbox
c. (2) 200 watt with barndoors and softbox.
d. Light stand.
e. (2) 75’ stingers
f. (15) sandbags.
g. a ditty bag with tape and tons of gadgets.

7. (3) Lanternlock Chinese lantern systems with paper lanterns.
8. (6) Amvona C-stands. Four with grip heads and rods.
9. (4) Sound blankets
10. Azden Boom mic
a. 9’ boom pole
b. 25’cable
c. Mike’s Muff mic muff.

11. (2) Audio Technica wireless mics. Only one system has higher quality mics.
12. High-hat dolly with 8 wheels. (this is fun)
13. Row Cine dolly kit with 24 wheels and handle. Still in the box.
14. Firestore 40gig DTE recorder and Pelican case.

I might be missing a couple things, but that's most of it.
 
Man, that's a great setup! If you sell, I call the Cobra Crane and dolly wheels! :grin:

Seriously though, that's enough to make an entire Indy feature. Get a script from Envision, get disjecta to be your DP, have Jack and Kimko be your actors and BAM, you'll come out with something great.

Barring that, I say you keep the stuff and shoot when/ what you can, and rent the rest. Is there lots of production in Arizona? Rent it cheaper than the rental houses do.
 
I get to be your editor!

Yeah, seriously, you've got a great setup there. It's worth keeping to at least rent out as TC said.
 
Thanks Guys. I am setup to do my 2nd feature this winter, but again it's the timing issue. It's not that I don't have a lot of the elements in place to do the movie it's the time.

It's funny that you talk about using a group of DVX people to make a film. I was thinking about this the other day. If I had my budget more in place it might be kind of a cool idea. Rent a couple houses for people to stay in and fly people into town. You never know. :)


But the time issue is the biggest problem. I accidentally fell into designing custom homes and my business is going through the roof. i get to design homes in one of the best areas in Phoenix so i can't just stop doing it. I need to grow my business so that i can one day get back full steam to filmmaking. I do about 8+ homes a year, which is a MASSIVE amount of work...add to that a 9 month old and you see the problem clearer.

As for renting, I've thought about it, but there seem to be two camps right now. The really amateur and the pros. Anybody in between seems to have their own gear of sorts and the idea of renting to people with no experience is scary. Things are picking up down here and fast, but we're still a couple years away from a unified base of indie productions.

Thanks again. That's two votes for keeping the equipment. :) I have a feeling this isn't going to get any easier. :)
 
Well if you're just too busy to use it, I can keep it at my house and hold on to it (use it) until you've got more time on your hands.

I think that sounds like a plan. My vote is for that.

:thumbsup:
 
Keep the equipment!

Look at this way, with the exception of the Firestore and the DVX100A, none of that stuff is going to drop that much in value. 3 or 4 years from now, a used C stand will sell for how much it is today. So if you need the cash, sell the Firestore and the DVX first, but if you don't need to, just keep the gear. The equipment will still do the things you bought them for many years down the line.

Renting the camera out to people you don't trust or know is never a good idea unless you have a business plan for that and insurance. I've seen the way people treat cameras from rental houses - and it ain't pretty. At least if you rent out to friends/people you can trust, they'll think twice before doing something questionable.

Garrett
 
Thanks Garrett et al. Good points from everybody. The more I think about it the more I figure everybody's right. Also, if a bit of time does clear up I can go out an shoot something. I still keep thinking that the idea of a well-done feature on DVX makes sense. I don't think it is the most lucrative necessarily, but if I keep the production budget under 75k with in-kind services and locations the formula makes a bit more sense.

I guess after all this time with my DVX and DVXuser I'm still a bit film-biased, but then again my first feature was on film and it was a piece of ****. So many people on this forum are making projects that look ten times better than my film-shot feature. My current projects are much better scripts and I've learned a lot more about production, etc. so maybe video makes sense in the long run.

I do have one person that might want the equipment and would put it to use and I would also have access to it if I need it, so if he wants it I might go that route, but I guess it looks like I'll probably keep it.

I do like my toys.

thanks again.
 
Sell it now.... If you can only get 8-10K for it now just think what it's gonna be worth 3-4 years from now while it's doing nothing but collecting dust in a closet. $5-7k ???
 
I agree with Sirius. Sell it. Sounds like you can rent or hook up with local talent once you have a project in place.
 
Keep it...set up an LLC that has the gear as its sole asset and rent it out. You can take the depreciation out against any rental income...and of course get a credit card for deposit with a BIG line of credit. You could use that LLC as the vehicle for your feature, so you could wash extra money on the equipments depreciation against any future revenue from the feature.
Just a thought...I'm not a tax attorney or tax expert, but check with your financial analyst about possible tax incentives with this equipment.
 
I figured it would take a bit to get some different views. The problem is a agree with everybody depending on my mood.

Focus....I've thought about renting before, but I still don't think there is enough market for it in the Phoenix area and I'm about an hour from downtown, which makes it tough. Sounds like I'm making excuses. If I were back in Vancouver or my old-home-town Seattle, I would be able to, but here I'm a bit isolated. Plus, the time and energy it takes to deal with renting or loaning isn't in the cards right now. If I had that kind of time, I would keep tinkering. I do really appreciate the business angle that you mentioned, however.

I think that my wife has already used my gear and her big SUV as a full tax write-off. :(

Thanks again for all the opinions.
 
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