What happened to a fat inventory of used Leica lenses?

[jacarape]

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Goofing around for a few months, looking at used L lenses I've noticed that there just isn't much out there for sale.

 

More specifically, the "later" versions such as the 90 2.8 Elmarit M, the 35 ver. 1 Lux ASPH, 75 Lux, the Crons in the same FL.

 

I thought that prices started to kick up on the 75/1.4 when the M8 was released, but there were almost always a few available at Keh, along with a few 50/1.0s Less then two years ago, they had 4 listed at one time, even under 5 kilo dollars.

 

Now you can't find a "lowly" 90/2.8 E-M (I have one, it's not a lowly lens, but you used to be able to get a pretty decent one for about $5-600, alas no more).

 

I'm guessing that M9 sales are driving some of the used prices. But it has me tempted to find a used box for my minty 75 Lux and put it up on the bay as LNIB for 5 grand. Silly prices, but it might be time to sell the M stuff and replace it with ZI. My MP seems to be the only thing that has dropped in price.

 

Any thoughts, cares?

[andybarton]

Large sales of M9s to new Leica owners who want lenses, have meant that new lenses are hard to come by, which means that people turn to used ones instead.

 

It's just supply and demand.

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[Peter58]

I noticed the same thing. Besides an M5 and an R-D1 I now also have an E-P1 and G1 both u4/3 cameras. I use my M and LTM lenses on these bodies. My take on the shortage of second hand Leica lenses is due to the u4/3 crowd using them After all they are small, sharp and not very expensive. I used to watch the old 135mm f/4 Elmar's price. A BGN was usually around $38 -$55, now they are up over $200. Supply and demand. As you pointed out there are not as many used lenses on the market any more. This is a shame. I have a really good collection of M and LTM lenses from 28mm to 135mm. But nothing wider than the 28. Now it lokks like I will not be able to get my self an ultra WA lens. I'm disabled now and my income is a lot less from when I was a working Enginneer in a top company. Perhaps one day I will find my WA lens at a good price.

Now my last purchase was a Jupiter 9 85mm f/2 for $189. After about an hour of polishing this lens looks almost new. The glass is perfect. I admit it is taking some time to master this lens wide open on the R-D1. But I am persistant. At around 1 meter it has a lot of back focus. I have learned how to compensate. At 2 meters there is no back focus. So the lens is easier to focus. I'm happy as now I cam take images of my wife indoors at 85mm and f/2. This provides a greater distance to my subject than my 50mm f/1.4 Summilux and so she does not mind my constantly taking her picture.

[Photon42]

Large sales of M9s to new Leica owners who want lenses, have meant that new lenses are hard to come by, which means that people turn to used ones instead.

 

It's just supply and demand.

 

Well, in this case, it's almost no supply and lots of demand

 

Cheers

Ivo

[pico]

[...] I'm guessing that M9 sales are driving some of the used prices. But it has me tempted to find a used box for my minty 75 Lux and put it up on the bay as LNIB for 5 grand. [...]

 

Not to rain on your parade, but I doubt the 75mm Lux will sell for $5,000. I've been watching the 'bay for that lens for a long time (because I have two), and the sellers ask for a big BIN, but they don't sell.

 

Right now on the USA bay site, 75mm Luxes are BIN from $2,659.00 to $6,000 with a mean of $3680 - and not selling.

 

Besides, if you sell it, then want one again, you are into a buy-back at loss because that lens will appreciate (unless Leica resumes production).

 

--

Pico - "If it is the best, buy two."

Edited December 12, 2010 by pico

[andybarton]

If I bought a LNIB lens and the SN on the box didn't match the lens, I'd send both straight back. Highly suspicious.

[hoppyman]

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Quite right too Andy! Representing something as LNIB and expecting a price premium as a result is fine providing seller and buyer have the same understanding. Otherwise it is Like New Lens with non-original box. Do unto others ..etc

 

My advice for the OP is NEVER sell Leica lenses, unless you are planning to leave M photography forever. You will only regret it and wish for them back at some point. They won't be cheaper next time!

Edited December 13, 2010 by hoppyman

[elgenper]

... NEVER sell Leica lenses, unless you are planning to leave M photography forever...!

 

And for me, the only way to leave M photography forever would be horizontally, in a wooden box....

[jacarape]

Sorry if I touched a few indignation bones, my statement was sarcasm which is hard to convey on a post. And to be honest, I had no idea that boxes had a SN, I guess they don't fall under warranty. But it would be great if they did, imagine the threads...

 

I agree with the saying of never sell a Leica item, the world is full of those laments. My kit is pretty much complete, MP, 28/2.8 ASPH, 35/1.4 ASPH, 75/1.4, 90 E-M. Awesome, all. I'd really like a super wide, maybe a 50 but the prices of new or used (Mandler era or later) Leica stuff has passed me by. I sure wish I had bought that 50/1.0 from Keh when I had the chance for 4500.

[tgray]

I think they are still out there, they just aren't staying for sale long unless the price is high.

 

I recently got a 75/1.4. During the couple days that I looked around, I saw two different ones come and go on KEH for between $2300 and $2400 (I forget the exact price). There were also several used ones in other online dealers' stocks (3 I think). And several on various forums, most of them overpriced.

[adan]

At one point early this year KEH was down to fewer than 15 or so M lenses in stock. There was a rebound for a while, up to about 40, with all focal lengths represented - but it has slipped again (still more than 20 - but that's with 6-7 90 f/4 CL and 6-7 Viso lenses in the mix).

 

75 f/1.4s were stable at around $2650 +/- until about 6 months ago, when Hong Kong dealers came close to cornering the market - now they usually run $3,500+ most places. KEH had one for $2295 that sold within a week. Tamarkin's 75s are now $3500+

 

I think there are multiple influences pushing and pulling the market - unavailability of new lenses, M9 driving demand, currency variations. It is a good time to be selling and a tricky time to be buying - so I've been sitting tight on my M system and buying R lenses for my Canon instead.

[adan]

I picked up an interesting data point today. There are 94 backorders for 75 Summicrons in the US alone right now - and expected delivery for one ordered today is a minimum of 2 months.

 

Extrapolate that across other lenses, and you can see where used inventory is being sucked dry by people in a hurry, and prices follow accordingly.

[Michael Geschlecht]

Hello Everybody,

 

As the World economy improves (As it has been doing @ least since the summer just past.) fewer & fewer people will be willing to part w/ Leitz/Leica things as well as others premium items @ bargin prices for our convenience.

 

Best Regards,

 

Michael

[pico]

Aw, poor Leica enthusiasts - they cannot break through the shortage regardless of what they are willing to pay - within reason.

 

Is this really a bad thing? Who is really handicapped because of the shortage of lenses? I mean, it's not like transplant shortages, nor food, shelter... sheesh.