The M5 has been the pariah of the line since it was introduced, and I guess its failure on the market put the company into deep stress. This is really weird, because it is a great camera. It was my entré into the Leica system during the '70's when it was new; a dealer lent me one for a month or so, and I immediately understood what a hungry monster it was. I had to settle for an M4, though, because I got a deal on it, and an M2, both of which I used heavily for editorial work. I'm back to the M5 now, although I use an M2 also.
Originally Posted by 2F/2F
It has not been my experience that the M5 costs more; seems to me the prices are still lower, quality for quality. My buddy at Glazer's (big camera store in Seattle) confirmed this a couple of months ago when I asked; he's their Leica guy. The prices used to be ridiculously low, but they've come up. I think that more people are beginning to catch on to what a superb camera it is. The objections people have to it seem to center on its weight and shape. True, the other design -- M2, 3, 4, 6, etc. -- is delightful, but I don't mind the more boxy shape. The meter and the superb mechanical shutter system are as good as it gets.
I would suspect that eventually, the M5 WILL cost more, since fewer were made due to its short production life.
If I come into a pile of money, I'll be looking for a second M5 body.