Market Digest: January 31, 2025
Market trends and Leica sales from the past week
This Week in Leica: The Numbers Worth Knowing
Welcome back to our weekly deep dive into the Leica marketplace! This past week, we analyzed 94 sales across major platforms (eBay, Fred Miranda, and Reddit), bringing our total analyzed transactions to 321. As we close out January, we're seeing some curious shifts in the market. Let's break down what's happening and what it means for you.
Digital M Series
M11 Series:
- Current range: $7,000-7,500
- Sweet spot: $7,250 for excellent condition units
- M11-P models consistently commanding $7,000-7,250
M10 Family Update:
- Base M10: Consistent pricing at $3,700-4,000
- M10-R: $5,700-6,100
- M10 Monochrom: $4,850-6,000
- M10-R prices showing stability with complete kits
Q Series
Q3:
- Current range: $4,500-7,735
- Best value point: $5,500 for mint condition
- Higher variation in pricing based on included accessories
Q2:
- Standard models: $2,800-3,800
- Monochrom variants: $3,780-4,029
- Complete kits with official Leica accessories showing stronger resale values
Film M Series
M6:
- Classic variants: $2,400-2,800
- TTL models: $2,500-3,600
- Premium models: Mint condition with box commanding highest prices
- Recent CLA'd examples showing stronger resale values
Classic Bodies:
- M3: $1,149-1,440 for excellent condition
- MP: $3,497-4,500
- M4/M4-2: $1,700-2,000
- CLA'd M4-2 models with documentation averaging $1,725
Hidden Market Trends
- The "Box Effect" Premium continues to influence resale values, with complete packaging adding 10-15% to final sale prices. This is most significant in M10 series sales, where recent data shows M10 bodies with complete packaging averaging $3,900 versus $3,500 without.
- The Early Week Advantage shows consistent 5-8% lower prices on Monday/Tuesday listings, particularly in Q-series cameras within the $2,000-4,000 range. A recent Q2 sale demonstrates this trend, selling at $2,800 early week compared to the weekend average of $3,300.
- Platform-Specific Pricing demonstrates that Fred Miranda listings for M-series cameras are averaging 10% higher final sale prices than other platforms, particularly for recent M10 and M11 series bodies.
- Service History Value reveals that film cameras with documented CLA service are commanding higher sale prices compared to those without service records. In the M4/M4-2 market specifically, recent CLA'd examples are averaging $1,725, while non-serviced bodies trend lower.
Three cameras to peruse:
Leica Q2
There are several Q2s on the market right now, so if you’ve been looking to buy, this might be your moment. This listing is in mint condition and comes complete with the box and original accessories. It’s priced in the sweet spot of recent sales, and the seller is open to trades for a Q2 Reporter or SL2-S Reporter.
Find it on Fred Miranda for $3,200
M10-P
With recent sales data showing stable prices in the $4,400-4,800 range, the M10-P is trading at roughly 60% of new M11 pricing. It offers a compelling mix of your classic rangefinder experience with modern digital capabilities. Tim Lei has this one in great condition.
Posted on Fred Miranda for $4,888
M4-2
I’m not gonna lie; the CLA photos in this listing scared me a bit, but it’s cool to see all the pieces of this mechanical gem come together. More affordable than the M6 and offering a similar shooting experience, the M4-2 is a great way to experience Leica film photography without the M6 premium. This camera is in solid condition and priced at the lower end of recent similar sales.
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
