Market Digest: December 27th, 2024
Market trends and Leica sales from the past week
Buying a camera on the secondhand market can be an exciting and daunting venture. There are deals, and there are duds; pricing your used gear or determining a good offer can be tricky.
This week, I dove deep into the world of used Leica sales, scouring 84 Leica camera sales from 12/17 - 12/24 on eBay, Fred Miranda, the Reddit /r/photomarket, and Facebook Marketplace to bring you the latest trends.
Let's get into it.
Digital M Series
The digital M series shows strong market segmentation between newer and older models:
M11/M11-P: Commands the highest prices ($5,300-$8,500), with “Like New” M11-Ps consistently selling around $7,000-7,700. The premium for the M11-P over the base M11 appears to be approximately $1,000-1,500.
M10 Generation: Shows stable mid-range pricing
Standard M10: $3,800-5,200
M10-R: $4,750-6,400
M10-P Reporter (special edition): Premium pricing at $7,000
M240/262 Generation: Much more affordable entry point ($1,675-3,000)
M240: Average around $2,100
M-P 240: Small premium over the standard model
Early Digital Ms: M8/M9 showing age-related depreciation
M8/M8.2: $1,600-2,500
M9: $2,300-3,850
Film M Series
Strong demand continues across all models:
M6: Most sought-after film model
TTL versions: $3,300-4,500
Non-TTL versions: $2,175-3,200
Premium for recent CLA service
MP: High-end pricing ($4,700-5,000), especially for .58 viewfinder variants
M3/M2/M4: Stable classic market
M3: $1,300-2,000
M2: $1,000-2,000
M4: $1,000-1,825
M4-P: $1,800-2,860
M5: Most affordable M film camera ($900-1,450)
Q Series
Strong market differentiation between generations:
- Q3: Commanding premium prices ($4,900-5,400)
- Q2: Mid-range pricing ($2,900-3,500)
- Original Q: Entry-level ($1,500-1,950)
SL System
Relatively lower demand compared to the M series:
- SL2: Consistent pricing around $2,000
- SL2-S: $1,850-2,100
Market Trends
Digital Evolution:
Strong demand for the latest models (M11, Q3)
Rapid depreciation of older digital models
Premium for higher resolution sensors (M10-R, M11)
Film Renaissance:
Sustained high prices for M6 models
Growing appreciation for M5 as an undervalued model
Premium for professionally serviced cameras
Condition Impact:
"Like New" commands a 20-30% premium over "Good"
Recent CLA can add 15-25% to film camera values
Original packaging adds 5-10% to value
This week's data provides a snapshot of current trends, with individual sales varying based on condition, accessories, and seller reputation. Of the 84 cameras sold, 59 were facilitated on eBay, 12 on Fred Miranda, 1 on Reddit, and 12 on Facebook Marketplace.
Whether you're hunting for a pristine M11, a classic film M6, or anything in between, the used market offers a great opportunity to acquire a solid camera at a potentially significant discount.
On that note…
Leica M11 Body Black Paint #310
A similar Leica M11 sold on 12/19 for $4,199 on eBay, while two sold on Fred Miranda (for $8,500 and $6,200 respectively). This listing is in “B” condition, but the image sensor has been cleaned, and Leica Japan has inspected all the components.
Leica M6 Chrome
The Leica M6 remains the most sought-after Leica film model on the market, and for good reason. Based on some recent analysis, the non-TTL M6s have been selling for anywhere between $2,175-3,200. This listing is in excellent condition.
Listed on Fred Miranda for $2,500
Happy New Year, and see you next week!
Your friends behind the lens,
Summimarket
