During a bit of research a few days ago I was astonished to find that the Sony RX1R Mk II is now selling for £3,449. This is serious money for this camera. It is £250 more expensive that a Leica Q, for instance. Not only is the Q a better camera (if you can live with the 28mm focal length instead of the 35mm on the Sony), it is most decidedly a superior investment (if any digital camera can be classed as an investment). Buy the RX1R and you will have a hard lesson in depreciation as I know from personal past experience with the original RX1. The Q, on the other hand (which is still in short supply on British shelves) will definitely hold on to more of its value over the long term.
This is probably an extreme example of the effect of the devaluation of the pound sterling since the EU referendum in June. Most camera manufacturers, with the notable exception of Leica, have already bumped up prices by from ten to 15 percent and the rest are expected to follow in October.
It is having a knock-on effect on secondhand prices with older cameras and, in particular, lenses following the upward trend. The message to take is that new Leicas currently represent something of a bargain. I suspect that before the end of the year the company will have to follow the rest of the market in adding around ten percent across the board. The company likes to keep prices worldwide more or less on par and the UK is now looking seriously out of kilter and this is attracting many more bargain-hunting foreign buyers.
If you are wanting to add to your Leica M lens collection, its a good idea to step in now rather than waiting another three months. Conversely, don’t sell any of your lenses just yet….