Market Digest

Market Digest: February 7, 2025

Market trends and Leica sales from the past week

This Week in Leica: The Numbers Worth Knowing

After analyzing over 400 recent Leica sales across the usual suspects (eBay, Fred Miranda, and Reddit), we're seeing some clear market patterns emerge. Here's what's cooking in the world of second hand Leicas.

Digital M Series

M11 Series:

Current market range: $6,500-7,200
Historical average: $6,563
Monthly trend: Steady upward movement

M10 Family Update:

Standard M10: Historical average $3,733
M10-P: Historical average $5,116
M10-R: Historical average $5,598
M10 Monochrom: Historical average $5,385
Market insight: Clear price stratification between variants, with specialized models (R, Monochrom) commanding ~50% premium over base model

Q Series

Q3:

Current market: $5,900-7,000
Historical average: $5,900 (based on 42 sales)
Market insight: Most liquid of the high-end digital Leicas, with highest transaction volume

Q2:

Standard model: Historical average $3,414 (51 sales)
Monochrom variant: Historical average $3,970 (14 sales)
Market insight: Most actively traded Leica model, showing consistent pricing

Original Q:

Historical average: $2,195 (30 sales)
Market insight: Maintaining value remarkably well for a first-generation product

Film M Series

M6:

Standard M6: Historical average $2,864 (23 sales)
M6 TTL: Historical average $3,433 (10 sales)
Market insight: TTL variant commanding consistent premium

Classic Bodies:

MP: Historical average $3,799 (11 sales)
M3: Historical average $1,384 (23 sales)
M2: Historical average $1,522 (19 sales)
Market insight: Strong price stability in classic models

Hidden Market Trends

Platform Preferences: We're seeing clear patterns in where certain models perform best. Fred Miranda continues to be the go-to platform for higher-end digital M bodies, particularly the M10 and M11 series. eBay dominates the film camera market, with particularly strong showings for classic M bodies. Meanwhile, Reddit and Facebook Marketplace are emerging as solid options for value hunters, though these platforms require more due diligence from buyers.
The Age of Authentication: A clear trend is emerging in how cameras are presented for sale. Listings that include detailed service records, sensor photos for digital bodies, and comprehensive condition reports are finding buyers more quickly than those without. For film bodies, recent CLA documentation appears particularly valuable. This week, the most successful listings included rangefinder calibration tests and shutter speed verification.
Timing Matters: Our data shows distinct patterns in when cameras sell and for how much. Weekday mornings see more transaction activity than other times, particularly for higher-end digital bodies. Weekend listings tend to attract more views but often take longer to close. The sweet spot appears to be listings that start midweek and conclude over the weekend, allowing for maximum exposure during peak browsing times.

Three cameras to peruse:

Leica Q3

This Q3 is listed at the lower end of recent sales and appears to be in great condition. It’s been well taken care of with screen protectors and UV filters, comes with all original packaging and accessories, and a fancy plate grip.

Find it on Fred Miranda for $4,950

Leica M10-R Black Chrome

The Leica M10-R has a high-resolution sensor with exceptional image quality. This listing was purchased new around 3.5 years ago and was CLA’d last year. It comes with all the original elements and accessories, including two extra batteries.

Listed on Fred Miranda for $5,250