Market Digest

Market Digest: April 18, 2025

Market trends and Leica sales from the past week

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This week we tracked 66 Leica sales. Here's what's happening:

Q Series

Price range: $4,600-5,784
Sweet spot: $4,999 for like-new examples
Q3 43mm variant: $5,500-7,000
Market showing consistent performance

Q2:

Standard models: $2,800-3,824
Reporter editions: $3,900-4,078
Monochrom variants: $3,750
Value add: Original box and accessories ($200-300)

Original Q:

Standard range: $1,866-2,300
Q-P premium version: $2,999
Titanium versions: $2,200

Digital M Series

M11 Series:

Current pricing: $5,935-6,650
Weekly trend: $6,100-6,500 → $5,935-6,650
Sweet spot: $6,100 for excellent condition units
M11-P commanding premium prices of $7,800+

M10 Series:

Standard M10: $3,150-4,719
M10 Monochrom: $5,225
M10-R models: $4,990
M10-P Reporter: $8,500+ (special edition premium)

Film M Series

M6 Variants:

M6 Non-TTL: $2,099-2,959
M6 TTL: $2,200-3,000
0.58 viewfinder models: Premium pricing
Complete package value: Original box adds 15-20%

Classic Bodies:

M3: $739-1,352 (condition and stroke-type dependent)
MP: $3,750-4,500
M4-P: $3,000
M7: $3,899-4,500

SL System

SL Series:

SL2-S: $2,000-2,350
SL2-S Reporter: $3,499
SL3: $5,000
SL3-S: $4,400-4,650

Hidden Market Trends

1. The Condition Premium Gap Widens

We're seeing an increasing spread between average and mint condition prices across all Leica models. The difference has grown from 15-20% last quarter to 25-30% currently. Most notable in the M10 series, where mint examples with boxes are selling for $4,500+ while user condition bodies fetch $3,150-3,600. This suggests growing collector interest competing with practical users.

2. The Reporter Edition Effect

Reporter editions are showing even stronger premiums than previously observed, commanding 20-25% over standard models. The stealth aesthetic and limited availability have created sustained collector interest, with the SL2-S Reporter averaging $3,499 compared to the standard SL2-S at $2,000-2,350.

3. The Import Premium Reversal

Previously, imported Leica gear commanded lower prices, but we're seeing this trend reverse with certain models. Imported M11 bodies are now selling at a slight premium, potentially due to perceived Japanese market quality standards and earlier overseas availability of newer models.