Market Digest

Market Digest: March 14, 2025

Market trends and Leica sales from the past week

Market Data at Your Fingertips

Exciting news from Summimarket! We’re not just sharing weekly Leica sales trends and data anymore; we’re on the brink of launching a game-changing curated marketplace for Leica enthusiasts. This platform will elevate how you buy and sell your Leica gear. Be sure to join the waitlist to be among the first to get the details when we roll it out.

This week, we analyzed 60 Leica lens and camera sales, adding to our growing database of over 750 verified transactions. If you haven't explored Summimarket.com yet, now’s the perfect time to see how this data can enhance your buying and selling experience.

Let’s jump into this week’s newsletter and discover what’s happening in the market and, more importantly, what these developments mean for you.

Digital M Series

M11 Family:

Current pricing: $5,100-$8,255
Average: $6,741
Median: $6,750
Trend: Stable compared to historical average
Model breakdown:
- M11: $6,575 (median $6,750)
- M11-P: $6,852 (median $7,200)

M10 Series:

Price range: $4,200-$5,849
Average: $5,125
Median: $5,005
Trend: Strengthening +5.1% above historical average
Model breakdown:
- Standard M10: $5,025
- M10-P: $5,002
- M10 Monochrom: $5,350

Q Series

Q3:

Price range: $4,900-$5,950
Average: $5,408
Median: $5,375
Trend: Slight softening -4.5% from historical average
Sweet spot: $5,000-$5,400 for excellent condition units

Q2 Family:

Standard models: $2,550-$4,000
Average: $3,320
Median: $3,401
Monochrom variants: $3,850 (median $4,000)
Trend: Slight softening -1.5% from historical average

Original Q:

Standard range: $2,400-$2,800
Average: $2,598
Median: $2,604
Q-P premium version: $3,066

Film M Series

M6:

Price range: $2,820-$3,400
Median: $3,013
Models:
- Standard M6: $2,820 (median $2,900)
- M6 TTL: $3,400

MP Models:

Current price: $4,600
Position: Premium flagship film body
Note: Limited availability continuing to drive prices

Classic Bodies:

Price range: $1,350-$2,990
Models:
- M3: $2,495 (median $2,990)
- M2: $1,350
- M4-P: $2,050
- M42: $1,700

Hidden Market Trends

1. The Digital-to-Film Value Migration

Over the past few months, we’ve observed an interesting market shift where the gap between digital and film Leica prices is narrowing significantly. Film M bodies have appreciated 22.8% over their historical average, while many digital models have remained stable or decreased slightly. This represents the power of analog equipment. The M6 has crossed an important psychological threshold, with clean examples consistently selling above $2,800 regardless of viewfinder magnification. For collectors and investors, this suggests film Leicas are increasingly being viewed as appreciating assets rather than merely functional tools.

2. Bundle Premium Collapse

Historically, Leica gear sold in bundles (camera + lens) commanded a 5-10% premium over their separate values. Our recent data shows this premium has disappeared and maybe even reversed? Bundles are now selling at approximately 8% below the sum of their component values when sold separately. This trend is most evident in M10 + lens combinations and film body + lens pairings. For buyers looking to acquire both a body and lens, this presents a strategic opportunity to purchase bundles and potentially sell the unwanted component for a net discount. For sellers, separating items before listing could maximize returns.

3. The Inverted Condition Premium

Our analysis reveals an inversion of the traditional condition-price relationship in today's Leica market. Contrary to conventional wisdom, the largest price jump occurs between "very good" and "excellent" condition examples (33.2% premium), while the step from "excellent" to "mint" adds a more modest 8.9% in value. This creates an unusual value proposition for buyers: the sweet spot has shifted toward mint-condition items, where a relatively small additional investment (under 10%) delivers pristine equipment. For sellers with equipment in the "very good" range, the data suggests professional cleaning and minor servicing to reach "excellent" status could significantly increase resale value. This pattern is most pronounced in the Film M Series, suggesting collectors are increasingly willing to pay for quality, but have become more discriminating about the relative value of different condition tiers.

Three cameras to peruse:

Leica M11-P (Black)

This past week, an M11-P sold for nearly 30% below the median price! If you snagged that deal, go you. Featured today, this black M11-P is in near-mint condition, comes with all original packaging and accessories, and is priced at the lower end of recent sales.

Find it on Fred Miranda for $6,550