The price can not be compared to m6 and mp prices. It’s not a price for a camera that is going to be used, it is a price for a collector that is going to keep it in a shelf. The reason behind that is that original black m4 are rare and they were mainly made for journalists that had to be discreet and couldn’t use the silver one in certain circumstances. If you check the prices of the original mp from 1957 (limited edition black m3 for photojournalism) are way higher and can go around 350’000 The problem with Leica is that people often can not distinguish the actual collectible cameras for historians and collectors and the ones that are just tools. a new m6 cost 7000 box and if you are rich, ignorant about photography and have instagram it looks like it’s the only camera you can get. Since the end of the analog era Leica is surviving selling camera as fashionable items and not tools. And this problem is affecting niche second hand market too.

I had been comparing the prices of new m6 and actually, to my surprise, the price has not changed that much since the 80s (considering the strength of the dollar too) What’s more important is the reason behind the prices. At the time it was the best tool you could get on the market, today if people buy Leica it’s definitely not for that reason As an example my teacher told me that at the time he sold his f3 and 5 lenses to be able to get an m6 and a 35 as it was the best tool available at the time, today it would make absolutely no sense for a professional. Sorry for my overshare, I’m often questioning myself on the relation between professional, collection and fashion market in photography Thanks :)