Classic mechnical cameras have always been very popular in Japan. For example, a good condition Leica M3 could usually fetch over ¥200,000. There has been a renaissance of mechanical cameras as well in the past ten years, with cameras such as the Nikon F, Nikon SP, and Leica M3 leading the way.
However, I've recently noticed that the Japanese classic camera market appears to be shrinking rapidly with prices falling quickly. Many stores are now listing "good" condition M3s for about Y90,000 which is around $900. This is about the same price as american used prices. Nikon F prices have plumettted. The only camera that appears to be resistant to falling is the Nikon SP rangefinder, which is still listing for about Y1,000,000 in black/excellent condition (about $10,000).
If falling prices aren't enough, many stores are also shrinking. Leica retailer Lemon Camera has recently closed its two stores in the Osaka area. The used camera division of Camera no Kimura in Shinjuku has retreated to a smaller store located further away from the station.
These are all bad signs. People are moving rapidly to digital and dumping their classic mechanical cameras while they still have value. Now's a good time to buy (if you just want to use the cameras), but a terrible time to sell.
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