Archived posting to the Leica Users Group, 1997/10/25

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Subject: Re: Special M6's
From: Stephen <cameras@jetlink.net>
Date: Sat, 25 Oct 1997 12:14:31 -0700

dannyg1@IDT.NET wrote:

>  >>Rarity alone does not make a Leica
> >>valuable or desirable, as the deluge of special editions is
> proving.
>
> There does seem to be an absolute co-relation between rarity and
> market value. If this is
> not so, I'd appreciate some examples.

Leica Collectors are a strange bunch, and they get stranger the more you
know them.  They are basically willing to pay a lot for something only
if everyone else is willing to pay a lot for it.

Black enamel M3's and M2's are a good example.  It is well know that the
"list" is not entirely accurate of black bodies.  Yet, if you turn up
one which appears to be original, it will only sell for a small fraction
of one one the list, for fear of fakes--even if an expert authenticates
it.

I once had a motorized MD motorized with a Leitz NY motor.  Production
was probably less than 25, and it was definitely original.  Yet because
it was not something the collectors could readily document in their
books, it sold for a fraction of what it was worth in terms of rarity.

Take a look at the chrome 90/2 M Summicron.  This is a surprisingly rare
lens in terms of production, yet they regularly sell for only a $1,000
US or so in mint- or better condition at the shows.  In terms of rarity,
it should be at least twice that, but the demand and the desirability is
not there.

The idea of collecting Leicas is the collection and appreciation of rare
noteworthy CAMERAS, not the collecting of cookie cutter collector's
pieces like the Danish Wedding and PAD.  Newbie collectors come into the
arena, assuming that anything that is rare Leica is desirable, and the
more experienced happily profit from their naivety.  If I bought a PAD
at a very low price, and a newbie collector is foolish enough enough to
pay retail for it, yes I will happily take his money--and so will any
other dealer.   Ok, these instant pseudo collectors probably should have
a slight premium over the plain M6, but the premium realistically is so
slight as to make it a bad investment.

While I have generally denounced SE Leicas, there are some noteworthy
quality exceptions such as the M6J (yes its overpriced, but is is a
great camera), the 50th Anniversary Leicas,  and the Platinum M6.
These seem to be in demand, unlike Leica's cookie cutter SE's of
not-to-great events.

No doubt you disagree, and will rush out to buy a "I'm Stuck" M6.  Oh
well, I warned you.

Regards,

Stephen