M11 Pre-owned prices!

[cj3209]

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I just saw an M11 listed FS for $5,500.  That's $5,500 usd.  That's almost a 40% drop from the M11's MSRP of $9,000.  That pre-owned price is lower than an M10D and pretty close to an M10r.

IMHO, the M11 is the pinnacle of an 'M' camera.  Of course, I haven't had any 'freezing' issues but this drop in used M11 values is surprising, at the very least.

 

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[Cattoo]

Not sure I would interpret one listing as indicative of market prices.  B&H (who I would think knows the market rate) is pricing used M11s with minor surface marks for around $7,800 to $8,000.  

[AllenB]

On 5/6/2024 at 6:37 PM, Cattoo said:

Not sure I would interpret one listing as indicative of market prices.  B&H (who I would think knows the market rate) is pricing used M11s with minor surface marks for around $7,800 to $8,000.  

I have one in my B&H cart right now for about that price but I'm hesitant to open my wallet for an m11, especially a used one at this point.  I fear I'd be inheriting someone else's issues without the 2-year warranty.   

[Cattoo]

I have one and have had no problems since I bought it new two years ago. No freezes or any other problem. 

[la1402]

I see in general continued market slowness for "luxury" items and believe that will continue throughout the year.

[RMF]

The current lull in the M11 pre-owned resale market might actually start to creep up 😀 if the upcoming firmware update (see other thread about it coming later this month) addresses the major issues.

 

 

 

 

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Edited May 8, 2024 by RMF

[adan]

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- Remember that "cosmetic condition" can have a significant influence on a specific body's value. And "seeing is believing" - I don't pay much attention to reported "EX++" and such until I actually see and handle the object in question. Even in identical condition, the silver/black finish can be more, or less, desirable in the overall marketplace.

- The best way to track overall market value of a camera type is to search eBay - filtered for "Completed Listings" - the actual hammer-price for which the camera sold. That is the price that both the buyer and seller accepted. But always with the usual caveats regarding the location, history and general quality (or sketchiness) of the seller.

- I always assume the value of any camera I buy drops to zero the minute I walk out the store door - except for the value of the pictures I will produce with it. (Which may include professional income, but can certainly also include "personal satifisfaction," etc.)

Edited May 8, 2024 by adan

[Cattoo]

3 hours ago, adan said:

The best way to track overall market value of a camera type is to search eBay

Only if you assume that eBay transactions represent the majority of the overall market transactions.  At best each eBay transaction is indicative only of the price two individuals agreed to.  And at the same time those two agreed to swap an M11 for $5,000, B&H likely sold one in similar working order to another individual for $7,000.  Both prices are "hammer-prices" agreed to by the buyer and seller. Which transaction represents the "true" market value?  

Perhaps eBay prices are good indicators what individuals with higher risk tolerance will pay another random individual but that not the same as the "market price".   You're getting more than just the camera when you buy from B&H and other reputable dealers.  You're also buying down the risk that you're buying a dud or something that's not in proper working order.  And what you pay to buy down that risk is reflected in the dealers' asking price.  Most eBay shoppers I'm sure would prefer to buy from B&H or a Leica Boutique if the asking price is the same or close to what they'd pay on eBay.  

I'm sure somewhere some Econ Phd has written a dissertation on this.  

[AndrewPiper]

I was told recently that Leica have a price hike due shortly also so that I dear say will affect second hand pricing to some degree. Not sure if the price adjustment occurs globally at the same time obviously but new prices never go South so I guess it is to be expected.

[RMF]

On 5/8/2024 at 9:13 AM, RMF said:

The current lull in the M11 pre-owned resale market might actually start to creep up 😀 if the upcoming firmware update (see other thread about it coming later this month) addresses the major issues.

 

 

 

 

.

As I predicted (in jest 😀) previously above, the M11 pre-owned market could quickly creep back up to where it rightfully should be now that the new 2.11 firmware is out and hopefully fixes most/all of the reported issues.  

[Theory]

On average the M11 used prices should normally track a little higher then an equivalent M10-R price I would think.

[Markey]

I`ve just seen three at reasonable prices .

These two Second Hand Leica Cameras | Second Hand Cameras and one on ebay for under £4K

[Datsch]

57 minutes ago, Markey said:

d one on ebay for under £4K

I think that one (at £3500 as I write) is still being bid on so will actually sell for more than that ...

[fotografr]

On 5/6/2024 at 5:07 PM, cj3209 said:

I just saw an M11 listed FS for $5,500.  That's $5,500 usd.  That's almost a 40% drop from the M11's MSRP of $9,000.  That pre-owned price is lower than an M10D and pretty close to an M10r.

IMHO, the M11 is the pinnacle of an 'M' camera.  Of course, I haven't had any 'freezing' issues but this drop in used M11 values is surprising, at the very least.

 

I don't think that price is characteristic. I think I know the one you're referring to (FM Forum?). That's the only one I've seen at that low price and others have been more in the $7500 range.