If you have been following my journey from being a pro sports photographer to finding my way in the big wide world of street photography, you will also know that sold pretty much all my Nikon equipment and reinvested in the Leica M system. Which I think was the best move I've ever made – but has it also been a good financial investment?
I thought long and hard about what Leica M camera I wanted to choose for my main shooter, and while I really wanted the Leica M10-R (as that was the first Leica I ever held and used, which also made me fall in love with the brand in the first place) it just wasn't in the budget!
So I looked elsewhere and ended up choosing the Leica M-E Typ 220, which was basically the entry-level Leica M9 back in the day – but this CCD full-frame camera has now become a collector's item. Even when I've been using it day-in, day-out, it's still worth more now than I paid for it. So maybe Leica could be a good investment?
I originally bought my Leica M-E for just £1,300 (about $1,645 / AU$2,470) back in 2022. It was like new, came with all its original box and accessories, and still to this day even has the original film protector on the bottom plate of the camera. Which is big deal to Leica users, apparently – something I had no idea about until pointed out to me by other Leica users, when I was out and about getting used to the camera.
A couple of years went by of me really enjoying shooting with my Leica M-E, and the wonderful colors it produces from its fantastic CCD sensor and rich blacks and crisp whites from its mono files. I got talking to other Leica users and they said the M9 is back in demand due to its CCD sensor, and I should look up how much mine is worth. Yes it's the "entry model", but not many where made – and to my surprise, the price has skyrocketed to £2,500 in the UK and $2,600 in the US for one in the same condition as mine.
I couldn't believe it, my camera purchase had actually appreciated in value – and this camera was launched in 2012, so it's now 12 years old, which is practically obsolete compared to the best mirrorless cameras of 2024.
Obviously I was thrilled to find this out, but it didn't tempt me to sell it right away – but it was nice to know that, if I ever wanted to, I'd get more than my money back!
However, this wasn't the only time this happened. While really enjoying the colors of the Leica M-E, I was also looking at betting back into film photography – and was naturally looking into the Leica M system again for a suitable film camera. I mostly shoot with a 50mm so I was recommended the Leica M3, but having used and reviewed the Leica M-A I fell in love with the aesthetics of the Leica M2.
Fast-forward and I found an M2 from 1965 without the self-timer – just what I wanted, and what was even better is I picked it up for a steal at just £800 ($1,000 / AU$1,500). Now, I never intended this to be another "investment". I just wanted a nice camera to shoot film on, and quite frankly I think it's the best camera I've ever owned, but again after a year of using it I did a bit of research on eBay and KEH – and saw that the prices had soared again!
This time a like-for-like Leica M2 was now going for £1,600 / $1,900. Like before this didn't make me want to sell it and reinvest in other Leica gear, but it got me thinking: is Leica really the only camera brand that you can buy second-hand and then sell on at a profit? Maybe.
It just goes to show that you can still buy second-hand equipment, enjoy it, and sometimes make money on it if you ever want to sell it again.
This isn't financial advice, and nor am I recommending that everyone invest in Leica cameras to sit on them and resell, but it does go to show that Leicas are a good investment if you can buy them at the right price. And who knows; maybe in the future I will find that Leica M10-R at a good price, and it might also be worth a little extra down the road.
I guess the old adage is true, it's all about "knowing your onions". Maybe I know my Leicas!
You might be interested in the best Leica cameras, along with the best Leica M lenses for rangefinders and the best Leica SL lenses for mirrorless cameras.
