Market Digest: October 4, 2025

Market trends and Leica sales from the past two weeks

Over the past two weeks, we analyzed 160 Leica camera sales across popular reseller platforms. For a visual representation of our growing database, head to Summimarket.

Let's dive into what's happening and what it means for your next purchase (or sale).

Q Series

Q3 28mm:

• Price range: $3,950-5,710
• Average: $5,124
• 12 sales, showing slight softening with 1.6% decrease from historical average
• Sweet spot: $5,000-5,200 for excellent condition units

Q3 43mm:

• Price range: $5,200-6,295
• Average: $5,728
• 7 sales, down 5.1% from historical pricing
• Market stabilizing after initial release premium

Q2:

• Price range: $2,475-3,800
• Average: $3,126
• 17 sales make this the most active Q model
• Down 9.8% from historical average—solid buying opportunity
• Value proposition: Extra batteries and accessories add $200-300 to the final price

Original Q:

• Price range: $1,995-2,800
• Average: $2,225
• 8 sales, essentially flat at +0.5%

Digital M Series

M11-P:

• Price range: $6,495-9,411
• Average: $7,607
• 5 sales, down 2.1%
• Limited Edition variants commanding premium prices

M10 Series:

• Price range: $2,500-7,500
• Average: $4,393
• 9 sales, down 3.7% from historical
• Monochrom variants holding strong in $5,500-6,000 range

M240:

• Price range: $1,926-3,350
• Average: $2,663
• 7 sales, up 1.4%
• Solid workhorse option, market finding equilibrium

M9:

• Price range: $2,700-3,750
• Average: $3,317
• Only 3 sales but showing 19.3% appreciation
• Collector interest is increasing for this CCD classic

M8:

• Price range: $1,450-3,500
• Average: $2,288
• 4 sales, down 9.3%

Film M Series

M6 Family:

• Price range: $2,600-3,718
• Average: $3,057
• 9 sales, up 7.6%
• Consistent appreciation trend continues
• Black paint and TTL versions commanding top prices

M5:

• Price range: $1,300-2,780
• Average: $2,110
• 7 sales, 46.5% increase from historical
• Most significant price movement in two-week period
• Collector demand driving values higher

M4:

• Price range: $1,760-3,000
• Average: $2,367
• 5 sales, up 27.5%
• Strong appreciation alongside M5

M4-P:

• Price range: $1,650-2,650
• Average: $2,077
• 4 sales, essentially flat at -0.2%

M3:

• Price range: $1,025-2,995
• Average: $1,603
• Highest volume at 21 sales
• Up 3.7%, reliable entry into film M system
• Double-stroke variants trading at premium

M2:

• Price range: $1,000-2,950
• Average: $1,638
• 7 sales, up 4.7%
• Button rewind models slightly outperforming

M7:

• Price range: $3,201-4,995
• Average: $4,098
• Only 2 sales but strong pricing
• AE functionality commanding premium

M-A:

• Price range: $3,500-3,650
• Average: $3,600
• 3 sales, down 10.4%

MP/M-P:

• Price range: $2,600-4,438
• Average: $3,734
• 7 sales, down 9.4%
• Market correction after recent strength

SL System

SL2/SL2-S:

• Price range: $1,600-2,380
• Average: $2,080
• 6 sales, down 4.2%

Hidden Market Trends

1. Film M Appreciation

Film M cameras, particularly the M5 and M4, are experiencing noteworthy appreciation. The M5's 46.5% jump is the most signficant price movement we've tracked. The M4's 27.5% increase suggests collectors are broadening their focus beyond the M6. If you've been considering a film M, act now before prices climb further.

2. Digital M Series Correction

The M10 and Q2, which show price softness (down 3.7% and 9.8%, respectively), represent the best buying opportunity in months. Both are exceptional cameras. The Q2 under $3,000 is particularly compelling—it delivers 95% of the Q3 experience for 40% less. The M10, around $4,000, offers the classic M rangefinder experience with a modern 24MP sensor and excellent high-ISO performance.

Have a Leica collecting dust? For a limited time, Summimarket is offering free listings with the ability to set a reserve. Drop us a line or learn more on our website.

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