Market Digest: February 14, 2025

This Week in Leica: The Numbers Worth Knowing

After analyzing over 450 recent Leica sales across the usual suspects (eBay, Fred Miranda, and Reddit), here's what's happening in the second-hand Leica market as we move through February.

Digital M Series

M11 Series:

• Current market range: $5,690-7,500
• Historical average: $6,607
• Monthly trend: Strong price stability after January volatility
• Market insight: Black chrome variants maintaining slight premium

M10 Family Update:

• Standard M10: Historical average $3,950
• M10-P: Historical average $5,104
• M10-R: Historical average $5,637
• M10 Monochrom: Historical average $5,453
• Market insight: Premium variants holding ~40% markup over base model

Q Series

Q3:

• Current market: $5,000-7,000
• Historical average: $5,867 (based on 48 sales)
• Market insight: Market maturity improving, with more consistent pricing

Q2:

• Standard model: Historical average $3,359 (64 sales)
• Monochrom variant: Historical average $3,970 (16 sales)
• Market insight: Most stable price-to-feature ratio in current lineup

Original Q:

• Historical average: $2,198 (28 sales)
• Market insight: Steady pricing with strong value retention

Film M Series

M6:

• Standard M6: Historical average $2,924 (48 sales)
• M6 TTL: Historical average $3,433 (15 sales)
• Market insight: TTL models maintaining consistent premium

Classic Bodies:

• MP: Historical average $3,874 (12 sales)
• M3: Historical average $1,345 (27 sales)
• M2: Historical average $1,520 (21 sales)
• Market insight: Classic models showing remarkable price stability

Hidden Market Trends

1. The Box Factor: Complete sets with original packaging command a 15-20% premium across all models. Even partial packaging materials add 5-8% to final prices. This trend is particularly pronounced in digital M bodies.
2. Platform Dynamics: We're seeing clear platform preferences emerge. Fred Miranda continues to dominate high-end digital sales, while eBay remains strong for film bodies. Professional dealers are increasingly active on specialized platforms, often commanding slight premiums for verified histories.
3. Day of Week Effect: Monday morning listings are consistently closing 8-12% lower than weekend averages, particularly in the $2,000-4,000 range. This pattern is most noticeable in Q-series transactions.

Three cameras to peruse:

Leica Q2

The Q2 has the highest transaction volume of recent Leica sales we’ve seen, and pricing is fairly consistent at around $3,359. This model in shooting condition for $2,900 is a good value and comes with all its original packaging.

Find it on Fred Miranda for $2,900

Leica M6 With Voigtlander 35mm f/2.5 Lens

This M6 is in mint condition inside and out. It was CLA’d in October 2024. A 35mm Voigtlander Color Skopar 35mm f2.5 lens and a custom strap are included. Over 48 tracked sales, the historical average sale of an M6 in the past few months is $2,924.

Get in on the bidding ($2,500 on eBay at the time of writing)

Leica MP 0.72 Silver Chrome

Silver chrome variants are showing particularly strong value retention, with recent sales suggesting a steady price floor of around $3,500. This stability makes them an excellent choice for both collectors and working photographers. This listing is fairly priced and in great condition.

Posted by Tim Lei on IG for $3,580

Have a cool camera you’d like featured or one you’re searching for? Let us know!

See you next week.

Your friends behind the lens,

Summimarket