I went to Japan in March/April 1998 and picked up some lenses in Tokyo. For those interested in this avenue for getting camera stuff, it is certainly a great thing to do.
I picked up a 20/2.8, 135/2 L, and 300/4L (all Canon EOS) at Sakuraya in Ikebukuro for about $1800. B&H cost would have been about $2600, giving a saving of about $800.
I didn't do the back-and-forth haggling thing that has been suggested by others. I simply went to Yodobashi first, in Shinjuku, and noted down a bunch of prices. I asked the salesguy what the price was. He said that I would "get a little discount" if I committed to buying immediately, but wouldn't tell me how much. So with their listed prices in mind, I went off to BIC camera in Ikebukuro. Got a bunch of prices there that were all cheaper than Yodobashi. Armed with that list, went to Sakuraya in Ikebukuro a few blocks away. There, the salesguy didn't speak much english, but the following sequence was repeated about 10 times: I would point to a lens and ask how much. He would jab some numbers into his calculator, do some calculations and show me the result. I would nod and write it down. After he saw that I had a list of prices from BIC camera, he would ask "BIC camera?" I would show him, and since his was always less, he would pump his fist and say "We win". After getting all prices of interest, I decided to go for the above three lenses. I considered the 200/2.8L, 85/1.8, 100/2, 300/4L IS, and the 100/2.8 Macro. Also the Sigma 400/5.6 HSM.
The biggest saving was on the 135/2L on which they were having some kind of sale. To the best of my knowledge, it was brand new. Anyway, I got it for about $660, versus $1049 at B&H. In general, the more expensive the lens, the bigger the saving is, even as a percentage. You can pick up a 600/4L for about $6000 there, allowing you to save $3000 that will more than pay the duty and the trip if you have to make one (I went for a conference though.)
Regarding a FAQ: Sigma 400/5.6 or Canon 300/4L? In Japan, the price difference is only about $120 between these two right now. With a Tamron 1.4x, the difference is maybe $220, but you get two lenses with an excellent 300. It is a no-brainer I think.
I did like the catchy jingle they had at Yodobashi, set to some classical tune (Liszt's Hungarian rhapsody?). Still can't stop singing "Yo-do-bash-i Cam-e-ra"! BIC camera has an Alvin and the chipmunks style of jingle going. No jingle at Sakuraya :-(.
Other things like batteries and film are also a bit cheaper there.
It was a very pleasant shopping experience. Ever since I got into this hobby, I have not had the simple existential pleasure of going into a camera store and walking out with a bunch of equipment I really want other than the little, cheap things due to exclusive use of mail order for saving money. It was a welcome change to deal with a friendly salesguy and get great prices to boot.
When I went, the yen was about 130 to the $; now (July 1998) it is about 140 to the $, so things will be even more cheap.
Anyhoo, there's some current info. on camera shopping in Japan.
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