Market Digest: February 28, 2025

Market Data at Your Fingertips

If you slept on last week's newsletter, no worries; we got you. Last week, we launched Summimarket.com, a market data hub for Leica enthusiasts and collectors. Check it out and let us know what you think! Pricing information is updated weekly, and we just added some lenses.

This week, we analyzed 73 Leica camera sales, adding to our database of nearly 600 verified transactions. Let's dive into what's happening on the market and, more importantly, what it means for you.

Digital M Series

M11 Family:

• Current pricing range: $5,900-8,460 for standard models
• Average historical price: $6,684 (median: $7,000)
• Recent trend: Upward movement (recent sales averaging $7,532, +12.4%)
• Sweet spot: $6,500-7,500 for excellent condition units with box
• Premium versions: M11-P with lens kit reaching $9,600

M10 Series:

• Price range: $3,699-5,300
• Average price: $3,999 (trending up from historical average)
• M10-R: $6,023
• Premium for specialty finishes: Safari repaint commanding $5,300

M-P (Type 240):

• Price range: $2,325-3,100
• Average price: $2,824 (trending down 10.5% from historical average)
• Sweet spot: ~$2,500 for excellent condition units

M9 Series:

• Price range: $2,480-4,499
• Average price: $2,941 (trending up 21.6% from historical average)
• Premium for CCD-15/16 models: Commanding $3,500-4,499

Q Series

Q3:

• Price range: $2,989-13,800
• Sweet spot: $4,900-5,200 (median price: $5,099)
• Notable outliers: New/unused models commanding significant premium ($13,800)
• Trending slightly up (2.5%) from historical average

Q2 Family:

• Price range: $2,750-3,900
• Sweet spot: $3,500-3,600 (median price: $3,549)
• Q2 Reporter edition: Holding steady at $3,550-3,900
• Monochrom variant: $4,040

Original Q (Typ 116):

• Price range: $1,525-2,314
• Average price: $2,134
• Median price: $1,843
• Value opportunity: Original Q market softening

Film M Series

M6:

• M6 TTL 0.85: $4,070 (20.3% premium over historical average)
• Standard M6: $2,600-3,250 (holding steady)
• Titanium editions commanding 25% premium

Classic Bodies:

• M3: $1,100-3,800 (trending up 37.5% from historical average)
• M4: $1,550-2,680 (trending up 15.2% from historical average)
• M5: $1,340 (trending down 9.2% from historical average)
• M2: $1,150-1,300 (trending down 17.7% from historical average)
• III Series: $295-570 (trending down 26.4% from historical average)

Hidden Market Trends

1. The Monday Mix Effect: Our historical data showed lower prices on Monday mornings, but a deeper analysis reveals this pattern has reversed—with an important caveat. Monday sales now average higher prices, but primarily because Digital M cameras (particularly M9 and M10 models) dominate Monday listings. Wednesdays feature more high-value Q3 units, driving the day's higher average. For buyers seeking film cameras, Thursdays show the most favorable pricing, with Film M models accounting for nearly half of all Thursday sales. Each day has developed its own "camera personality," suggesting strategic timing based on what you're seeking.
2. Platform Specialization: While overall average prices between eBay ($3,191) and Fred Miranda ($3,121) appear similar, the camera mix varies significantly. Fred Miranda heavily favors Q Series cameras, which represent 57% of its listings versus 31% on eBay. The Film M cameras sell for substantially less on Fred Miranda (averaging $982 versus $1,679 on eBay), while certain models like the original Q actually command higher prices there. For the best deals, our analysis suggests targeting Film M cameras on Fred Miranda (up to 50% less for M3 models) and Q3 models on Fred Miranda (15% less than eBay equivalents).
3. The "S Series Anomaly": We're witnessing an interesting price dichotomy in the S Series, with an S3 body selling for $9,349 (among the top 3 highest-priced sales this week), while an S (Type 006) offers incredible value at $620 (70% below its historical average). This represents both ends of the value spectrum within a single product line.

Three cameras to peruse:

Leica Q2 Monochrom

The Leica Q2 Monochrom offers improved ISO performance and detail capture without a color filter array. Based on 16 recent sales, the average market price is $3,992, positioning this listing at a good value. In great condition and in the original box.

Find it on Fred Miranda for $3,850

Leica M6 TTL 0.72 Titanium + Leica M 35mm f/2.0

This is a rare, beautiful, limited-edition M6 TTL with a titanium finish and fine-grain brown leather cover. Only 1,000 units were produced. It’s in near-mint condition and ready to rock with a 35mm f/2.0 lens.

Posted on eBay for $11,436

Leica SL2

The SL2 has a 47MP sensor, improved stabilization, and refined ergonomics. It’s compatible with L-mount lenses. Based on 11 recent sales, the average market price is $2,276.

Get in on the bidding! ($1,600 at time of posting)

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