Selling used M10 and quotation

[redlensandgreenbody]

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Has anyone sold an M10 to a local dealer in the UK? I am wondering how much they would typically offer for an M10 in excellent condition (like new). 

I am considering reddotcameras, JKcamera, Harrisoncameras and apertureUK at the moment. 

 

Would appreciate it if you could share your experience if you have one. 

 

[microview]

You'll see M10 s/h prices on their web sites, commission at Red Dot is 15%, 20% at Aperture. But straight cash offer will be far, far less. So if time is not an issue....

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[LostInTheFunhouse]

I’m potentially in the market for an M10, feel free to send me a message with any details. Thanks! 

[Cronilux]

Some stores offer better deals, if you plan on buying something else. I had some amazing deals, when trading in lenses for example. Selling it private will in most cases bring the most money.

[adan]

Typically, a dealer will pay cash for a used camera at about 45-50% of what they will be able to sell it for. They do expect to make money on the deal. And generally they will be offering a store warranty, which puts them at a slight risk of getting a used lemon and having to pay for servicing later.

Reddot currently has used M10s at from £4950 to £4500, so that would make the "wholesale" price they'd pay anywhere from £2600-2200, depending on condition, boxes, extra batteries, etc.

If the camera is being traded towards other gear, it may draw an effective higher price of perhaps 60-65% of used retail value, since the store is making money "both ways." And as microview says, selling on commission (you get your money only after the store sells your item), you get the best deal of all, for waiting, and taking all the risk yourself. 70-75% for you at the stores I use, though.

There are other factors - personality and "likes" and habits of the store manager, demand for used cameras of this or that type, cost and availability of servicing if needed to back up the store warranty. A store specializing in Leica may offer more, since they can expect more customer traffic already interested in Leica.

And one can always try to negotiate a bit.

BTW - Being a Yank, I have no idea how VAT factors in to used equipment.

Edited July 7, 2019 by adan

[Fedro]

10 minutes ago, adan said:

Typically, a dealer will pay cash for a used camera at about 45-50% of what they will be able to sell it for. They do expect to make money on the deal. And generally they will be offering a store warranty, which puts them at a slight risk of getting a used lemon and having to pay for servicing later.

Reddot currently has used M10s at from £4950 to £4500, so that would make the "wholesale" price they'd pay anywhere from £2600-2200, depending on condition, boxes, extra batteries, etc.

If the camera is being traded towards other gear, it may draw an effective higher price of perhaps 60-65% of used retail value, since the store is making money "both ways." And as microview says, selling on commission (you get your money only after the store sells your item), you get the best deal of all, for waiting, and taking all the risk yourself. 70-75% for you at the stores I use, though.

There are other factors - personality and "likes" and habits of the store manager, demand for used cameras of this or that type, cost and availability of servicing if needed to back up the store warranty. A store specializing in Leica may offer more, since they can expect more customer traffic already interested in Leica.

And one can always try to negotiate a bit.

BTW - Being a Yank, I have no idea how VAT factors in to used equipment.

some charge VAT on the commission (!!) but most don't

Over the years I have found reddot best for selling stuff, good people and fair prices/commissions

[Gelatino]

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Sell your M10 by yourself.

You will get more money, meet someone you will keep in touch if affinity, make him ( more probably than her, sorry less chance of extra affinity 😉😩 ) grab a bargain.

Favor hand delivery , so you may ask cash or meeting at the buyer's bank agency for instant bank transfer.

[T25UFO]

Another 👍 for Red Dot.  I have no connection with them, other than buying and selling.  Ivor loves to trade and will offer a fair price.

[budjames]

I have good experiences selling all sorts of camera bodies and lenses on various forums; Luminous Landscape, FujiX forum and others, with good experiences. The prices I received were 15-30% more than trade-in offers from Adorama or B&H Photo.

I have traded equipment in with B&H Photo because of no interest from private buyers. It is certainly convenient if you are buying new gear.

Personally, I have not sold or traded a used M10 or any Leica gear as I'm new to the system. One of my M10s is in Germany right now waiting for the full M10P conversion. I dented the top plate, so rather than spend about $1k to replace it, I went for the conversion. I have a second M10 so I'm still shooting Leica while I wait to get the body back.

Regards,
Bud James

Please check out my fine art and travel photography at www.budjames.photography or on Instagram at www.instagram.com/budjamesphoto.

[farnz]

... or you could offer your M10 for sale in the forum's Buy & Sell pages, help with the forum's running costs, get a good price from knowledgeable members and avoid a dealer's need to make a profit. 

Pete.

[ChicagoMatthew]

Sell it yourself. 100%. You’ll make more money and it will probably be faster, if you price it to move. A middle man is going to keep the cost high because they need to cover their profit. 

[bags27]

This is the best I know of (I realize that Miami is not in the UK 😀)

Leica Store Miami accepts a wide range of Leica equipment on trade-in towards the purchase of new or used gear. We offer 80% of fair market value based condition and what's included. We also selectively purchase equipment outright for 70% of fair market value.

https://leicastoremiami.com/pages/trade-in-form

I once asked them for a price on one of my lenses, and thought they were very fair, even though I ended up not selling/trading it in.

But I agree with Pete that if it's a straight cash transaction, our own board is an excellent place. 

Edited July 10, 2019 by bags27

[mikelevitt]

7 hours ago, bags27 said:

This is the best I know of (I realize that Miami is not in the UK 😀)

Leica Store Miami accepts a wide range of Leica equipment on trade-in towards the purchase of new or used gear. We offer 80% of fair market value based condition and what's included. We also selectively purchase equipment outright for 70% of fair market value.

https://leicastoremiami.com/pages/trade-in-form

I once asked them for a price on one of my lenses, and thought they were very fair, even though I ended up not selling/trading it in.

But I agree with Pete that if it's a straight cash transaction, our own board is an excellent place. 

I've sold a couple of lenses to the Miami store, and will confirm that they actually do offer 70-80% of market value.  I've seen my lenses on sale on their site for exactly what they said the fair market value was.  This is about 30% more than you would expect to get from an outfit like KEH or B&H, etc.  I think the reason is that they know they will sell the stuff, they know that the value and demand will hold steady, and they want stock for their store.  Because of their excellent policy, I've traded in 2 lenses and spend about 10k with them this year.  Very happy both with the buying and selling.  They are now my first call for Leica stuff.

[Fedro]

I had a different experience at the Leica store in London, as they put the camera for sale at a much higher margin than they had suggested to (i.e. equivalent of 35-40% margin and above)

Not sure if they had subsequently decided to price it really high and perhaps discount over time, but I did not correspond to what they had initially told me when I enquired about selling (they had mentioned margins of 20-25%). I did enquire a few times, but received no answer and eventually gave up. Sad

In the end as we all know a new 246 became heavily discounted. This was just a few weeks after I sold them mine and they still had mine for sale, interesting twist of fate ..

Won't repeat the mistake again

[bags27]

5 hours ago, mikelevitt said:

I've sold a couple of lenses to the Miami store, and will confirm that they actually do offer 70-80% of market value.  I've seen my lenses on sale on their site for exactly what they said the fair market value was.  This is about 30% more than you would expect to get from an outfit like KEH or B&H, etc.  I think the reason is that they know they will sell the stuff, they know that the value and demand will hold steady, and they want stock for their store.  Because of their excellent policy, I've traded in 2 lenses and spend about 10k with them this year.  Very happy both with the buying and selling.  They are now my first call for Leica stuff.

+1 on the trust and confidence. A great store.

Another (American) store I like is http://www.tamarkin.com/  I believe they offer around 10% less than Miami. So why deal with them? Because, if you're going to swap rather than sell outright, their inventory of used equipment is also large and different from Miami's. And they have a terrific return/guarantee policy.

[Mguy]

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