M8 price drop in the coming months?

[ryley]

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Hello all...

 

I'll be taking the plunge and buying my first leica before I head overseas in June of this year, and I wanted to know if there was a general consensus about what will happen with the price of M8s (new & 2nd hand) once the M9s started making their way to customers who are currently on a waiting list for one.

 

My thinking is that they will drop... but by how much?

 

At this stage I'm thinking that a second-hand M8 and the Voigtlander 35mm Nokton 1.4 will suit me perfectly to begin with, and I'll upgrade to leica glass down the track. Given that the Nokton will be around the $550 mark, what can I expect to pay for the camera AND lens in a few months time? And does anyone know any reputable online retailers or ebay sellers for second hand M8s?

 

Thanks in advance,

 

Ryley

[digitalfx]

You can buy now for less than $3500...I wouldnt expect prices to fall any lower.

[Hoaxville]

Hi Ryley,

 

Welcome to the forum.

 

I cant imagine prices will drop all that more in the next few months. I think if there is an opportunity to buy at a reasonable price now, you should go for it. And you can spend those months you would have been waiting for 'possible' price drop out there taking photos.

 

All the best,

 

g

 

--

 

http://www.GlendynIvin.com

[mtomalty]

I bought a refurb'd demo M8 just before Xmas from a dealer for considerably less than $3K Cdn.

 

I'd take the opposite position in that I think they will drop further in the coming months.

The supply of M9's has been pretty slow relative to the demand and as a result I don't believe

we've really seen as many M8's on the used market as would have been had M9 supply

been greater.

 

Backorders seem to be being filled a little more quickly that before so I think this will put some

pressure of M8 used pricing.

 

Mark

[danyves]

For Sale: Mint Leica M8.2 | Lightstalkers

 

Sold by Davin Ellicson $ 3.000

[Pangur Ban]

I expect secondhand M8 prices will fall further this year, but this is based purely on the reason that I've just bought one and I usually time the market poorly.

 

On the same basis, expect to see a rise in the value of secondhand M7s as I've just sold one to pay for the M8...

 

Still, I'd rather have the camera and use it now rather than wait for the prices to bottom out - whenever that may be.

[wda]

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My guess is that the majority of m8 owners are highly satisfied and will keep their cameras. Don't count on a great flood of used M8s too soon. Those who always buy the latest models have probably already indulged themselves.

 

I think if I was in the market for a used M8 I would go to a trusted dealer who would ease the pain of any immediate technical problems.

 

My advice would be to buy soon and use the intervening months to get thoroughly acquainted with your new camera and lenses.

[adan]

Those who always buy the latest models have probably already indulged themselves.

 

...except for those still on M9 wait lists and being told "May or June". =8^o

 

As to the original question - I doubt used M8 prices will go UP much by June, so if you really don't need the camera now, there is probably no harm in waiting. OTOH I doubt they will DROP a lot by then either, so waiting soley in anticipation of a price drop is probably not going to produce results. M8 prices will cover quite a range anyway - LN M8.2 vs. M8(upgraded) vs. M8(2007 and heavily used) - Likely $4000 to $1800.

 

In any case, don't wait to the last minute. Never take a new, untested camera you are not yet familiar with on a critical trip. Give yourself at least a month to learn the camera and make sure there are no problems.

[wstotler]

Hello all...

I'll be taking the plunge and buying my first leica before I head overseas in June of this year, and I wanted to know if there was a general consensus about what will happen with the price of M8s (new & 2nd hand) once the M9s started making their way to customers who are currently on a waiting list for one.

 

Ryley--welcome to the forum!

 

Good advice in this thread, overall.

 

Wanted to contribute this bit that I wrote a little while back in response to a similar question regarding pricing and price drops. Leica used product pricing just doesn't behave predictably like with other goods.

 

Waiting may not mean the M8 finds a substantially cheaper floor. . . . <snip> Leica goods just don't floor out like other goods I've seen and I'm thinking the M8 will not be an exception, even with its faults--the high price of the M9 may in fact keep the used market price of the M8 inflated--and rising. (I'm thinking the Noctilux vs. New Noctilux scenario.) In this case I'd say: Buy an M8 now and use it. Don't wait on price as that's an unknown--it can remain roughly the same, dip slightly, or even (yes, insane, but it happens in the Leicaverse) go up. Will

 

Cheers! Will

[ryley]

Many thanks to all that have responded! I've gotta say... this is such a great forum for people like me. The world of Leica can be a little overwhelming once you decide to dive in, so I really appreciate the informed opinions that have been so freely given.

 

I'm not disappointed to hear that the M8s might hold their value better than I expected; it's actually reassuring. Obviously the Leica market is very unique in this regard. I've come from a Canon DSLR background, and over the last 12 months I've seen the 5D MkII shed more than 30% of it's value since it was released. But with leica, it's clear to me that when you buy an M you don't just want it to last, you expect it to. It's just the legacy of these cameras, and naturally they should hold their value reasonably well in line with this.

 

So I agree that it's a good idea to be on the hunt for a good second-hand M8 now in order to be well and truly used to it before heading overseas in a few months time. I'll just keep my eyes peeled and wait for the right opportunity! It's only a matter of time...

 

Thanks again. Best,

 

Ryley

[lct]

...So I agree that it's a good idea to be on the hunt for a good second-hand M8 now in order to be well and truly used to it before heading overseas in a few months time...

I would wait til the M9 is normally available if i were you. M8 prices will drop necessarily. How much nobody knows but a 10MP camera needing filters and lens coding to work properly cannot hold its value the same way as a film M imho.

[lightpainter]

After Leica has just offered an extended warranty for the M8 over a year, prices will not drop, but go up. Whoever wants an M8 should buy it now (with the warranty). He will get a great digital M with 77% sensor size and about 40% of the price of the M9 that will lose about 3.000 EUR over the next three years (more than what a s/h M8 will cost you today). If you are a professional who needs to blow up his shots to wallpaper size: get the M9, for all amateurs who compress their DNGs to 250KB JPGs in order to show them here at the forum or have 4x6 prints with their home printer: the M8 will do.

[lct]

...they have rejected Canon 5D files, though!...

Using lomo lenses?

[LuxBob]

I've monitorred a few s/h M8 (not M8.2) on ebay recently and the average was €1800 ($2650). So an ex demo for less than $3K would seem to be a good buy.

[brianv]

I expect prices to hover around the $2K mark for a while Several die-hard Film users with lots of Leica Mount lenses are grabbing them at that price, myself included.

[Guest BigSplash]

I actually believe that M8 has overall flatened out in price as at current prices for a mint used it is great value for those who have Leica old Glass or aspire to buying some old or new glass.

[roanjohn]

Yeah...........I don't expend a significant price drop until Leica introduces a new M camera (maybe M9.2). The current prices for a mint M8 hovers around 2,000-2,500 USD.

[john_newell]

I can guarantee you that M8 prices will go down, at least on an inflation-adjusted basis.

 

I can make the same guarantee for M9 prices, and M10 prices.

 

I just can't tell you when or how much.

 

If you wait, you will never buy. If you never buy, you will never make photographs.

 

Carpe diem?

[Aperture 2]

Price of used M8 in Bruxelles is now more or less stabilized at 2000€.

The range goes from 1750 to 2250 € depending on several factors:

- Model 8 or 8.2

- Number of exposures

- Physical state

- Under guarantee or not.

 

This is a new market and I expect that, as with film M, the demand will be there to maintain the prices. It is to be expected that with the future arrival of used M9 the price of used M8 will decrease (with final low value at M10 put on the market ?).

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Hallo,

Look here: Leica M

[noah_addis]

...Give yourself at least a month to learn the camera and make sure there are no problems.

 

I'd give yourself two or three months given the speed of Leica's repair service.

 

If I were you I'd look at one of the certified used or demo M8s with a Leica warranty. They're priced favorably and have a warranty.

 

I've had two M8s and two M9s. One M8 had a blown shutter after less than a year and the M9 has a line problem after only a month. I hate to think how much the repairs would cost if they were out of warranty.