Re: FREE READING

[Stephen <cameras@jetlink.net>]

Ben Holmes wrote:
> 
> Fuji is here in my town. The guy who started that shop sold it, at what he
> felt was the top of the Leica market. The top, you say? Yes. Take notice of
> the prices lately on used M's - they are getting soft.
snip
> 
> Having been around the block a few times, I'd have to assert that this
> bubble is over.

The Japanese are such huge Leica buyers in the American market that our
used M market follows the Japanese.  High M prices were a reflection of
the favorable Yen to dollar rate, something like 100 Yen to the Dollar. 
As the rate rose to 140 Yen to the Dollar, the Japanese backed out and
the  bubble burst.  They will be back when the exchange rate eventually
changes again. 

Unlike the Ferrari market, the Leica market was simply based upon the
exchange rate, not speculation of next weeks prices.

The other factor bringing used M body prices down is the artificially
low prices of M6's while the $500 rebate is on.  With low M6 user
prices, the M4P/M4 users naturally fall as well. Of course the rebate
will end, and then the FUN will begin.  

Leica is preparing some sort of high eye point M6 variation.  If the
price is a LOT higher than the regular M6, used M6 bodies could take a
hefty price increase once the rebate is off.  IF the high eye point
price is close to old M6 prices, the older model could be reduced in
value.

With Leica dumping so many M6's with the rebate, I hope the reason
behind it is the M7 waiting in the wings.  

As if all of this were not enough, two new M mount cameras are nearing
production in Japan (no, not with the Leica name tag).  I haven't seen
them, but a friend of mine has. That was all he was able to tell me, but
his information has always been accurate in the past. 

Stephen Gandy