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Photography covers cameras, lenses, lighting, tripods, bags, and editing software for hobbyists and professionals alike. Gear in this category holds value well, which makes the used and refurbished market unusually attractive, often delivering professional-grade equipment for far less than new. Camera bodies follow release cycles, so the previous generation drops sharply when a successor arrives, while lenses are long-term investments that rarely become obsolete. Major sale events discount kits and accessories, and renting gear for occasional needs beats buying. The savvy photographer invests in glass, buys bodies used or one generation back, and rents rather than owning specialty equipment.

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Yes, it's one of the best. Cameras and lenses are durable and hold value, so the used and certified-refurbished market offers professional-grade gear well below new prices. Reputable used dealers grade condition and often include warranties. For lenses especially, which barely depreciate in usefulness, buying used delivers excellent value with low risk.
Generally the lens. Quality lenses outlast multiple camera bodies and have the bigger impact on image quality, while bodies are replaced every few years as technology advances. Investing in good glass and pairing it with a used or previous-generation body is a smarter allocation than buying the newest body with a kit lens.
Right after a manufacturer announces a successor, the outgoing model's price drops sharply while it remains an excellent camera. Major holiday sale events also discount bodies, kits, and accessory bundles. Combining a previous-generation body bought during a sale gives you strong capability at a meaningfully lower price than chasing the latest release.
For equipment you use occasionally, like a specialty lens or studio lighting for a single shoot, renting is far cheaper than owning. Buying makes sense only for gear you'll use frequently enough to justify the cost. Renting also lets you test expensive equipment before committing to a purchase, avoiding costly buyer's remorse.