Market Digest

Market Digest: March 28, 2025

Market trends and Leica sales from the past week

Over the past week, we analyzed 74 Leica camera and lens sales across several popular reseller platforms. This week saw some interesting shifts in the market, particularly in the premium segment.

Black paint finishes continue to command significant premiums, with models like the M10-R in black paint selling for up to 63% more than their chrome counterparts. We're also seeing notable price adjustments across multiple camera lines, with the Q3 showing a 12.5% decrease from early 2025 prices, and the M11 series dropping by 7.1% compared to previous month averages.

Let’s get into the details.

Digital M Series

M11 Family:

Current pricing: $5,550-7,400
Sweet spot: $6,200 for excellent condition standard models
Premium for M11-P variants: ~$800-1,000
Week-over-week trend: down 7.1%
Black paint finish commanding ~$500 premium

M10 Series:

Standard M10: $3,150-3,900 (down 14.2% from previous month)
M10-P: Stabilizing at $4,850 (down 6.3% week-over-week)
M10-R: $5,495-8,995 with black paint models at the top end
M10 Monochrom: $4,700 (down 6.6% from February average)

Earlier Digital M:

M (Typ 240): $2,375-2,650 (down 14.9% from previous month)
M Monochrom (Typ 246): $2,800-3,800
M9: $2,001-3,100 with CCD replacement units commanding premium

Q Series

Q3:

Price range: $4,800-4,900
Sweet spot: $4,850 (down 12.5% from early 2025 prices)
Firmware update impact: Too early to tell, but expect increased demand

Q2:

Standard models: $2,677-3,900
Reporter editions: Premium at $3,599-5,045
Monochrom variants: $3,650-3,790 (down 5.6% from February)

Original Q:

Standard range: $1,696-1,850 (down 17.1% month-over-month)
Q-P premium version: Holding at ~$2,800

Film M Series

MP Models:

Current range: $1,450-5,540
Average price: $3,394
Week-over-week trend: down 2.6%

Classic Bodies:

M3: $1,140 (down 25.9% from previous month averages)
M2: $1,575-2,950 with premium for Canada/Midland models
M4: $1,513-1,795 (down 16.0% week-over-week)
Special variants commanding significant premiums

SL Models:

SL2-S: $1,800 (down 3.7% from previous month)
Original SL: $2,695-5,750 with lens bundles on high end
Value opportunity: SL bodies under $2,000 appear to be strong values

Hidden Market Trends

1. The "Black Paint Premium" Explosion

Black paint M10-R is commanding a 63% premium over chrome versions. This trend is most pronounced in the M11 and M10 series cameras, with the M11-P in black paint consistently selling for $800+ more than silver variants. Our data shows multiple black paint models in the top sales spots this week, including an M10-R at $8,995.

2. Day of Week Pricing Patterns

Monday continues to show strongest values with 12 sales averaging $4,057. Saturday commands the highest prices with an average of $4,752 per sale. Friday and Thursday had the most activity with 15 sales each, while Sunday shows consistent value opportunities with an average price of $2,610.

3. Platform Differences

eBay dominated with 45 sales this week compared to Fred Miranda's 29 sales. However, Fred Miranda typically featured higher average prices and more premium models. High-end M11 and special edition variants appeared more frequently on Fred Miranda, while eBay offered a wider range of entry and mid-level options.