M9 sensor problem killing trade-in values

[dunhoy]

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The well documented issue with sensor corrosion on the CCD models is killing trade-in values irrespective of what Leica say. Leica have a PR disaster in the making. Inventory of the M240 is moving very slowly (hence big discounts are available) and without doubt a contributory factor is the derisory trade-in values offered for what is otherwise pristine kit.

 

I have spoken with several reputable Dealers: yes Leica will fix corroded sensors add infinitum however unbeknown to the public there are quite onerous conditions being placed on dealers who are taking cameras in....the net result is the bottom is falling out of the market...the M9 and M9P are subject to savage depreciation and the Monochrom will surely follow...especially given you can no longer order it as a new model is coming. When one invests the considerable sums involved into a brand one is entitled to better.

 

That said there is a silver lining to the CCD sensor corrosion cloud....the MM will become cheaper on the used market; the MM is just stunning and ownership of a decent used copy gets nearer by the day ha ha.

[jaapv]

Conditions on the dealers? Just deal with Wetzlar directly. You don't need a dealer for that. I get the impression some dealers are taking the opportunity to talk the tradein price down. I do not see much movement in Monochrom and M9 prices on for instance eBay.

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[pgk]

..... unbeknown to the public there are quite onerous conditions being placed on dealers who are taking cameras in....

Really? So this is a well kept secret then is it?

[pico]

The well documented issue with sensor corrosion on the CCD models is killing trade-in values [...]

 

I have spoken with several reputable Dealers

 

That is your second post mentioning 'reputable Dealers'(sic).

Name the dealers or it never happened.

[250swb]

The M9 is now five years old and according to the OP there seems to be some surprise about trade in values? What sort of prices do five year old design's make in the Canon and Nikon world?

 

Steve

[NikonJeff]

The M9 is now five years old and according to the OP there seems to be some surprise about trade in values? What sort of prices do five year old design's make in the Canon and Nikon world?

 

Steve

 

I'm not sure about trade in values but from a resale perspective I was quite surprised at how much the value of my now 2.5 year old Leica M9 was versus my 7 year old Nikon D3.

 

I sold my D3 for $1400 ($4650 my purchase price new in 11/2007)

The M9 was going for $3000 ($6000 my purchase price new in 5/2012)

 

I'm sure that any used camera dealer will take into consideration the potential issues with taking in a camera with a known issue. It makes business sense - as it "may" become harder to move the merchandise depending on how the corrosion issue plays out with Leica...

[A miller]

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I think the M9 and MM are different cases entirely.

 

The M9 has had the best run in the secondary market relative to any other Leica digital camera, and most other non-digital cameras. People in the market to buy can take confidence in the application to them of the guaranty against sensor damage and the benefit of a very good goodwill program. At $3000 it is a great buy.

 

By the same token, at $3000 a seller cant and shouldnt really complain b/c it is a FOUR - i repeat - FOUR year old digital camera. Approx 50% of original retail value for a digital camera that essentially has a transferable lifetime warranty (provided the sensors are available) against the sensor (and possibly more based on Leica's track record with the goodwill program) is an excellent proposition.

 

The MM, on the other hand, is a much less fortunate story for sellers. Lightly used versions can be had for under $5k on ebay. To me, this is more of a steep discount than i would have expected for such an expensive and unique camera.

Edited January 22, 2015 by A miller

[timde]

IMO the MM is not unique enough for its price tag, it is more or less an M-E and the "nearly new" price reflects that rather accurately.

[pico]

I'm not sure about trade in values but from a resale perspective I was quite surprised at how much the value of my now 2.5 year old Leica M9 was versus my 7 year old Nikon D3.

 

I sold my D3 for $1400 ($4650 my purchase price new in 11/2007)

The M9 was going for $3000 ($6000 my purchase price new in 5/2012)

 

How long do you expect to keep the M9? Do some straight-line depreciation calculations. Surprises!

.

[pico]

IMO the MM is not unique enough for its price tag, it is more or less an M-E and the "nearly new" price reflects that rather accurately.

 

Not unique? What other full-frame monochrome rangefinder are you comparing the MM to?

.

[Luke_Miller]

I suspect the sensor corrosion issue might adversely impact trade-in values offered by dealers. It just adds an unknown to the process and the dealer may choose to hedge his bet. Just went to the KEH site and got a quote of $2400 for my Like New Minus condition M9. KEH lists for sale a like-condition M9 at $3800. That amount of difference seems higher than I recall previously and may be due to the sensor issue. The good news is it appears resale values may not be much affected - at least not at KEH.

[timde]

... not unique enough ... its new price represents a 40% premium on the M-E which is essentially the same thing. Very profitable camera for Leica :-) Second hand price looks pretty good too!

[sanyasi]

The sensor problem is an unfortunate one. However, and I have said this before, with digital cameras, IMHO, you should be thinking in terms of a 5-year useful life, or at least that is how I think about it. That means you are paying around $1,400 a year to use the camera.

 

Many people rationalize the expenditure by saying that it is the last camera they will buy, but it never is (unless you die before buying a new one). The answer is to invest in good quality lens.

[dunhoy]

That is your second post mentioning 'reputable Dealers'(sic).

Name the dealers or it never happened.

 

Apologies for any grammar errors...

 

Aperture would not touch it for a trade in, saying they had three M9 at Leica getting new sensors. RG Lewis would consider a trade-in but valued it very low and that was subject to it being inspected by the technical folk at Leica in Mayfair.

 

I have bought equipment from both of these dealers in the past and I trust them. I am sorry you did not believe me.

[jaapv]

IMO the MM is not unique enough for its price tag, it is more or less an M-E and the "nearly new" price reflects that rather accurately.

Eh? It appears that you have no experience with either..

[tobey bilek]

If I were a dealer, I would not take a trade either.

 

All Leica has to do is change its mind.

 

$7000 to $9000 for a 5 year life product is insane.

[jaapv]

The first mile in my new car cost approximately that sum.... 10% off the price.

[IkarusJohn]

The first mile in my new car cost approximately that sum.... 10% off the price.

 

 

It's not a car ...

 

Devaluation rates here for cars are 30% when you drive it off the lot, and 10% per annum after that. Unless it's a Ferrari, McLaren or other car with rarity appeal.

 

Returning to cameras, my Nikon D800E depreciated far more than that. I don't see what this has to do with anything - Leica cameras hold their value - they're marketed as "cameras for life".

[run23]

I don't know -- I'm on year 3 of my M9 (used for $4,000) with no desire to change, unless for some reason I need a single camera for both good light and very low light, which I don't.

 

I should AT LEAST be able to get another year out of it, maybe even 2 or 3. Well worth it on a year by year cost basis for a camera that still thrills me to use.

 

The M9 sensor was outdated in many ways the day it came out, but that doesn't change the image quality that it produces under the right circumstances.

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[rramesh]

With the assurance of Leica and the quality of pictures I can get from my M9, I am quite certain that it will be with me for a long time.