Market Digest

Market Digest: March 21, 2025

Market trends and Leica sales from the past week

Exciting News from Summimarket!

Our database of Leica transactions continues to grow! This week, we analyzed 69 Leica camera and lens sales across eBay and Fred Miranda, bringing our total to over 800 tracked transactions.

As we dig deeper into market trends, we're seeing patterns emerge—from the surging value of classic film bodies to the stabilizing prices of the Q3 lineup. But data is just the beginning.

If you haven't yet joined the Summimarket waitlist, what are you waiting for? Our curated marketplace for Leica enthusiasts is launching soon, and early members will get first access to buying and selling Leica gear.

Let's dive into this week's newsletter to discover what's happening in the Leica market and, more importantly, what these trends mean for your collection.

Digital M Series

M11 Family:

Current pricing: $6,199-8,045
M11-P models: $6,480-7,525
Week-over-week trend: M11 up 9%, M11-P down 8%
Sweet spot: $6,500 for excellent condition M11

M10 Series:

Standard M10: $3,500-4,280
M10-P: $4,500-5,000
M10-R: Notable premium at $8,695 (up 31.4% from historical average)
Week-over-week trend: Standard M10 down 4.0%

Earlier M Digital:

M246 Monochrom: $3,420 (up 16.4%)
M240: $2,250
M-D (Typ 262): $4,700
M8: $2,280

Q Series

Q3:

Current pricing: $4,300-7,170
Sweet spot: $4,600-5,400 for excellent condition units
Week-over-week trend: +5.2% compared to historical average

Q2:

Standard models: $2,997-3,700
Special editions premium:
- Q2 "Ghost" by Hodinkee: $4,071-5,000
- Q2 Disney "100 Years of Wonder": $4,646
- Q2 007 Edition: $4,494
Sweet spot: $3,250 for standard models
Week-over-week trend: +11.1% compared to historical average

Q2 Monochrom:

Price range: $3,900-4,199
Sweet spot: $4,100
Week-over-week trend: -3.2% compared to historical average

Original Q:

Standard range: $1,850-2,309
Premium packages (with extras): $2,700
Week-over-week trend: -3.4% compared to historical average

Film M Series

M6:

Non-TTL models: $2,699-2,999
Price stability: Nearly identical to historical average (-2.6%)
Sweet spot: $2,800

Classic Bodies:

M7: Premium at $3,900 (up 14.4%)
M4: $2,300-4,140 (remarkable 56.1% above historical average)
M4-P: $1,797-3,600
M3: $1,200 (down 19.5%)
M2: $2,300 (up 52.0%)
M5: $1,799 (up 20.0%)
Early Screw Mount (III series): $416-849

SL System:

SL2-S: $1,600-2,354 (stable at +1.1%)
Sweet spot: $1,800-2,000

Hidden Market Trends

1. The Q3 Market Stabilization

The Q3 market appears to be stabilizing with consistent pricing between $4,300-7,170. Private sales on Fred Miranda show more conservative pricing ($4,300-4,600) compared to eBay ($6,055 average), with a substantial 36.1% platform differential. This suggests savvy buyers may find better deals through private transactions as the retail market finds its equilibrium after initial release excitement.

2. Special Edition Premium

Limited editions are commanding significant premiums over standard models, with data showing price increases of 24-52%. The Q2 "Ghost" by Hodinkee tops the premium chart at 52.2% above standard Q2 models, while the Disney "100 Years of Wonder" edition commands a 41.4% premium. The Q2 007 Edition follows at 36.8% above standard pricing, confirming collectors' willingness to invest in exclusive variants.

3. Classic Film Cameras are Having a Moment

Vintage film bodies are experiencing a notable surge in value, with the M4 (+56.1%) and M2 (+52.0%) showing the strongest appreciation compared to historical averages. The M5, once considered the "black sheep" of the M lineup, has seen a 20.0% increase, while the M7 continues steady appreciation at 14.4% above average. This renaissance appears most pronounced in models that offer purely mechanical operation.