Auction results over the past couple of months for Leica and Contax

Discussion in 'Leica and Rangefinders' started by Karim Ghantous, Mar 29, 2017.

  1. I’ve been watching some items over the past few months. Here are the results of the auctions:

    Contax 28/2.8 G, EXC, AU$290

    M9, steel gray, VGC, AU$3,549

    Leica 35/2 M IV, EXC glass, AU$2,210

    Leica X2, VGC, AU$650

    Leica IIIc + 50/3.5, VGC, US$355

    Contax 45/2, EXC, AU$369

    Contax 90/2.8, EXC, AU$152.50

    Contax IIa + 50/2, GC, US$155

    IIIf RD ST, VGC, AU$355

    M (Typ 240), silver chrome, EXC, AU$5,410

    M (Typ 240), black, mint, AU$4,950

    Leica Digilux 2, EXC, US$458

    Note that the Digilux 2 sold for US$458 (approximately AU$600). I took note of a parallel auction of a Canon 10D (GC with 28-105/3.5-4.5), a camera that sold new at the same time as the Digilux 2. The 10D was first listed at AU$175, then re-listed a few times with a price drop to $150. It still hasn’t sold.

    The 10D sold for $1,999, new body only, in 2003; while the Digilux 2 sold for $1,799, new, in 2004.

    The M9 is depreciating, but more slowly than I expected.
  2. There is a pretty good reason. Unlike the M8, the M9 is still fully repairable and Leica committed to replace any M9 sensor afflicted with the corrosion issue at no cost, no matter whether the current owner was the original purchaser or not, a pretty amazing thing for a model now 8 years old, and the user base is a pretty rabid group of folks since the M9 represents the last of the CCD sensor M's.

    You mention the 10D's price in 2003, today you can buy a Nikon D2X that sold for around $4,700 in 2004 for less than $300. Used digital DSLR's, whether the lowest of the low rung or the highest of the high-end, after so many years are just not worth anything so if you buy one, get your money's worth and shoot it like heck, 'cause you'll rarely get anything for it when your done with it.
  3. I'm not sure quite what the intent of this is, but if it is to say that Leicas hold their value better, that is indeed true, but also consider that you can pick up a very capable s/h Canikon with full compatibility with all current lenses for very little. Leicas remain expensive, however you look at it. There is no need to update a Canikon regularly any more than it is necessary to update a Leica.
  4. Greg, it has to be said, I think, that cameras are not investments and that they are effectively disposable. Still, for people who don't want to be professionals, the cost and depreciation of equipment is worth at least some thought.

    Robin, some people may like to know how much they should be bidding for certain cameras. There are so many cameras listed at fixed prices (BIN on eBay) that it's hard to tell whether those prices are fair. A Contax 1 isn't worth much more than $400 with a lens, and yet people are trying to sell them for $900 and over. An informed market is a healthy market!
  5. In the case of a Contax I or any other collectible, I do think condition plays a part in the value. There should be a substantial difference between a Contax I in normal, dirty, non-working condition and one that runs and has been completely gone through and restored, although I would stop short of calling any working Contax I reliable.

    Buying something anywhere on the internet without doing some research is kind of like believing everything you read on the internet. Eventually, you'll get taken.
  6. An informed market is a healthy market!

    Agreed. There are always people asking absurd prices on ebay. I think these are people who either are entirely ignorant, or (more likely) hope that some (rich) schmuck will just click "buy" because they want a "nice Leica" and must have it right now. For these sellers it is a chance they like to take, after all they can always reduce the price later. As Greg says, immaculate condition, is likely to cost you a lot more too.

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