Market effect of the new Leica M6

[Huss]

Let’s forget for a moment that it may scratch your film. What I have noticed is that since the new 2022 M6 has been released, it has cooled off the market for the old one. I now see lots of really nice old M6 at the $2500 price point, including the titanium ones.
Just before the new M6 was released they were touching $3500.

Seeing that there is a long waiting list for the new version, it looks like Leica’s marketing campaign of giving them to the famous Leica youtubers has worked. Their fans have followed..

It really is a win win though (unless you just bought an old M6 at the peak) as now you have a choice of a new one, or an old one but at a much more reasonable price.

 

[wjlapier]

Or the market affect of new Leica M6’s scratching film. OG M6 not scratching film may rebound to previous high prices.

 

[SchwinnParamount]

I didn't buy my M6 as an investment. I bought it as a tool. The resale value of my M6 is of no interest to me.

 

[Patrick Robert James]

I think it would be better to describe the Yutoobers as infamous. I can't think of one, though I am not an expert on Yutoob, that is a great photographer. Very few of them are actually working photographers either. They are just people that started a photography Yutoob channel.

There are probably other factors too for the decline in price. One I can think of is the old digital trend for young people. And film prices might have something to do with onboarding new film shooters. Leica will always be about the "ultimate" and in general in the Leica world, that is the MP with a cocked crank, er I mean the new M6.

 

[NortheastPhotographic]

It seemed to me that the film cam market spiked during the pandemic and has cooled generally on its own since then. The new M6 is so expensive that'll have no effect on the used market. Nobody is thinking, should I buy this $2k used M6 or just throw another $3k at this problem. Just like how the M-A did not affect the prices of used M4s.

 

[Huss]

It seemed to me that the film cam market spiked during the pandemic and has cooled generally on its own since then. The new M6 is so expensive that'll have no effect on the used market. Nobody is thinking, should I buy this $2k used M6 or just throw another $3k at this problem. Just like how the M-A did not affect the prices of used M4s.

The new M6 not only looks like the old M6 but also has the same name.

The M-A and M4 have neither.

 

[Guth]

It seemed to me that the film cam market spiked during the pandemic and has cooled generally on its own since then.

I think that this is true of many things at the moment. Right now it seems impossible to know which specific factors are having what specific impact on values/pricing. Not just with M6 cameras, but with all sorts of things. It will be interesting to see where things stand in another one, two or five years from now for that matter.

 

[Huss]

That new old stock M6 Titanium had zero bids at $3200, auction has now ended.

 

[mshchem]

Really nice Leicas seem to have pretty steady prices.

I remember buying Hasselblad outfits for 1100, I bought a mint plus M6ttl with 50mm Summicron for $1300, somewhere around 2003. I sold the outfit for $2700, I should have kept it.

 

[Steven Lee]

Non-TTL M6 in minty condition were easy to find under $3K, they weren't "touching" $3,500 even on eBay. I have a few saved searches there myself and been keeping a close eye on them. The TTL versions with an upgraded shutter speed dial and a better meter indicator where $300-500 more. They did (and still do) "touch" $3,500, especially with a 0.85x finder. I find more truth in @NortheastPhotographic comment about all used film gear cooling off somewhat in recent months. Definitely true for Hasselblads.

I am still waiting to win a lottery or marry up to own the Millenium though. That's my dream Leica.

 

[madNbad]

Non-TTL M6 in minty condition were easy to find under $3K, they weren't "touching" $3,500 even on eBay. I have a few saved searches there myself and been keeping a close eye on them. The TTL versions with an upgraded shutter speed dial and a better meter indicator where $300-500 more. They did (and still do) "touch" $3,500, especially with a 0.85x finder. I find more truth in @NortheastPhotographic comment about all used film gear cooling off somewhat in recent months. Definitely true for Hasselblads.

I am still waiting to win a lottery or marry up to own the Millenium though. That's my dream Leica.

I had a Millennium, 2501630. Bought it in 2012, traded a TTL with zinc oxidation and six hundred USD to KEH. The camera had never been used. It took a trip to the factory for the finder upgrade, got a black dot from DAG, MP black paint rewind switch and frame selector levers. It was paired with a 35 Summicron ASPH and was my only camera for a few years. It was sold with a lot of other gear to raise funds for a much needed home improvement project. It was a great camera and who ever bought it got a deal.

 

[250swb]

The better cameras always sell for the better prices, so don't go on what people ask for a camera, only look at it's condition and price when sold. That should also remove the overpriced and 'minty' eBay and unscrupulous dealer cameras from the price equation. But never fear, the price of an old M6 may have temporarily gone down a fraction, and it's a normal consumer reaction, but the fact that there are plenty of immaculate and fully operational 'vintage' M6 cameras around will drive the price up again. But what will be happening this time around is sellers and buyers will be fighting 'the new M6' and honing in on history, so very early M6 cameras in good condition will rise in value a lot, commemorative cameras will also rise a lot, and any feature like Panda's will also become a more highly prized collectible. With a new and supposedly readily available M6 on the market now is the time to swoop on the perfect or rarer versions of the original M6 because ironically 'they ain't making any more'.

 

[Huss]

I had a Millennium, 2501630. Bought it in 2012, traded a TTL with zinc oxidation and six hundred USD to KEH. The camera had never been used. It took a trip to the factory for the finder upgrade, got a black dot from DAG, MP black paint rewind switch and frame selector levers. It was paired with a 35 Summicron ASPH and was my only camera for a few years. It was sold with a lot of other gear to raise funds for a much needed home improvement project. It was a great camera and who ever bought it got a deal.

#645 with the same mods as yours is going for $10K at Setadel Studios

 

[madNbad]

#645 with the same mods as yours is going for $10K at Setadel Studios

I sold it for $2500 in 2018. Now I have a really nice M4 and a super rare M4-2 with a red “Leitz” dot.

The extra $7500 is for the plastic covering the baseplate. Mine came off about a year before I sold it.

 

[GregY]

I sold it for $2500 in 2018. Now I have a really nice M4 and a super rare M4-2 with a red “Leitz” dot.

The extra $7500 is for the plastic covering the baseplate. Mine came off about a year before I sold it.

$10k "asking". Setadel often has Leica items that remain unsold for long periods of time. At the same time after buying the $10 k camera.....what is the availability of parts to repair the M6 TTL ?

 

[Kodachromeguy]

It seemed to me that the film cam market spiked during the pandemic and has cooled generally on its own since then.

Other prices for classic equipment have cooled. I recall when the Canon 50mm f/1.4 ltm lenses were $400 or so. Now they are in the $200 range. The Canon 50 f/1.5 ltm Sonnar-type lens has also tumbled. It must be based on what's trendy or fashionable.

 

[Pieter12]

Yeah. like the $1500 Contax T2. Thank you Kendall Jenner.

 

[GregY]

Yeah. like the $1500 Contax T2. Thank you Kendall Jenner.

A friend bought a fine Nikon F2 Titan for less than the Contax were selling for!

 

[mshchem]

I see a lot of M6ttl cameras from Japan for big money that have the zinc bubbling up / corrosion.


Any place with sea breezes, chlorides and damp air, same thing can happen with Hasselblads.

Some of it may be due to the shift from hexavalent chrome in plating processes. Hexavalent chromium is horrible stuff, but made for long lasting coatings.

Leica prices are in bubble territory

 

[GregY]

I see a lot of M6ttl cameras from Japan for big money that have the zinc bubbling up / corrosion.


Leica prices are in bubble territory

Like M4 black paint versions now in the $14K and up range......

 

[AZD]

Not sure how the new M6 affects sales of the old one, gotta say I wasn’t following them closely. Personally I’m hoping for the M2 to become uncool. Might be a while I’m afraid.

At least locally I have seen a LOT of good stuff come up recently for good prices, some of it a real score for whoever had cash ready, sadly not me. The trends I can see:

- The most obvious one first, people bailing on medium format. Two to three years ago it was extremely hot. Anything Mamiya or Pentax 6x7 sold immediately. Recently there are multiple offerings for both, plus various and assorted Hasselblads. More telling are the listings for 120 film stashes explicitly stating they’re never going to use it all. We’ve reached peak 120. Coincidentally, the peak was exactly 120mm tall despite the fact that nobody could ever figure out where the measurement should be taken. Weird.

- Decent Nikon and Canon SLRs in the $100-150 range not selling immediately anymore. I think they still sell, just not with the same rabid enthusiasm.

- Nikkor 50mm f1.2 lenses posting for under $300, sometimes closer to $200, and sticking around for a while. Wasn’t this a must-have lens a few years back?

- A general slowdown in weird/quirky/off-brand 35mm stuff. Grandpa cameras, for lack of a better term. I take that to mean less willingness to experiment with the unknown, and possibly (probably) unreliable.

- Continued dismissal of Nikkormats and FTb’s. Seriously, I still don’t understand how they sell for $50. It just never made sense. Like a black FTb with tons of real-life brassing for fifty actual American dollars. Weird how trends sometimes don’t translate from one brand to another.

My personal take is that film is cooling down a bit from the pandemic high. Part of it is the same financial concerns affecting everyone. A friend and musician who frequently sells/trades gear has seen interest wane similarly.

Maybe those early 2000’s digicams will take over after all. Makes sense, they already did it once before. They’re the perfect camera if a) you’re only chasing the latest aesthetic trend, and b) you’re broke from running overpriced ColorPlus and this month’s cleverly-named 2x$ rebranding of Fomapan 100/400 through your point-and-shoot.

Hopefully I don’t come across as too negative (ha, negative…). I’m with film as long as it lives. And I still see another film shooter or two every time I go out, so that’s good. Not everyone is going to stick with it though, but we already knew that.

We also know that M cameras, especially the M2, are over-hyped ego machines. Dump them now while you still can. Especially if you are highly suggestible and happen to live in the Salt Lake area.

 

[mshchem]

Like M4 black paint versions now in the $14K and up range......

Yes, I know these are scarce, but 14 grand? A lot of these are restored repainted, not sure what the insides are like. Leicas are very cool, but so are other beasties. I have a Mamiya 6mf, with the "pan" adapter (not really a panoramic) makes a 24x54mm (I think) image, that's cool too.

 

[Guth]

what is the availability of parts to repair the M6 TTL ?

When the new M6 was released, I read that as part of this campaign it was announced that Leica stepped up their support of the entire M6 range and now have the parts needed to repair all versions of the M6 including the M6 TTL. This caught my eye as I own a M6 TTL, but we all know how unreliable reporting on the web can be these days. Note that I did not read this as part of a Leica news release, but rather on a site reporting on the new M6 along with all of the money and effort Leica put into gaining favor with the press when it came to the rollout of the new M6. Personally, I'm still a bit skeptical and would want to confirm this with Leica directly before sending a M6 TTL in for repair.

 

[madNbad]

We also know that M cameras, especially the M2, are over-hyped ego machines. Dump them now while you still can. Especially if you are highly suggestible and happen to live in the Salt Lake area.

This was sold the same week as the Millennium. The real heartbreaker was it had just returned from Don Goldberg who fixed a long running problem. It had the smoothest advance of any M camera I had ever owned:

 

[madNbad]

Yes, I know these are scarce, but 14 grand? A lot of these are restored repainted, not sure what the insides are like. Leicas are very cool, but so are other beasties. I have a Mamiya 6mf, with the "pan" adapter (not really a panoramic) makes a 24x54mm (I think) image, that's cool too.

There was a black paint M4 on the Portland craigslist, it was first listed at fifteen grand. The last time I saw it, the price had dropped to less than half of the original price. The one I kick myself for was the week I bought a "LN" M4 from an online seller (of course it needed work) an elderly photohrapher from central Oregon brought a big box of gear into a local shop. I missed the late run, black chrome M4, basically unused in the original box for $750. Someone else had grabbed the M2R earlier in the day.