Re: Hektor 135mm /SM Value in the Marketplace

[Stephen Gandy <steve@cameraquest.com>]

uh3b207@hpmail.lrz-muenchen.de wrote:
> 
> Recently, I've seen in a photo shop a Hektor 4.5/135 for my
> screw mount Leica.  
Why it is so cheap compared with other lenses? Is there indeed
> some flaw in the design that I have not noticed up to now?
> Or it is just a market phenomenon (no one wants to buy it;
> there are so many of them)? What do you think?
> 

In the American marketplace, beautiful 135/4.5 SM Hektors usually sell
for $100-125.  The M mount sells for about $25 more.

People may ask more, but when they don't sell, the price goes down.

They are such poor sellers, that I've joked with other dealers that we
should use them as stocking stuffers or give them away just to get rid
of them.

To me, several factors account for the Hektor's miserable resale value:

1) Although they are decent performers, the later Elmars and Tele-Elmars
are better. The people who can afford it will spend the extra for the
later lenses.  

2) the 135 focal length, despite its defenders, is by far the least
popular of all the RF coupled M lenses in the marketplace.  Thus there
are a lot of all 135's of all variations available.    They all sell
comparatively cheaply.  The 135/2.8 is a good example.   A very
expensive lens new,  it seldom sells for more then $600 if in mint
condition.   Very often Mint examples can be had for $450.  The reason
is that that particular lens, being large and heavy, is not as popular
as the Tele-Elmar and is a very slow seller.

3) the 135 Hektors were made in massive qualities during Leitz's most
productive period.  The quantify available far-far-far outstrips
demand.  Thus the very low price.

Another lens under-valued in the marketplace is the M mount collapsible
50/2 Summicron. It seldom sells for more than $350, but should be worth
at least $500 in terms of optical and mechanical performance.     

To be fair about my marketplace comments,  most of the shows I attend
are on the West Coast, although I also regularly attend Houston and
Miami(January).   

Stephen Gandy