Originally Posted by Ionex56
That is correct, inflation might be a bigger factor than most people think. Between 1991 and 2019 there was an average inflation rate of 2.28% per year. That $1000 M6 is $1,880.64 in today's dollars.
Obviously the price explosion in recent years isn't solely due to inflation, but the $800-900 mint M2/M3 you saw in 2010 can easily top $1k in 2019 after factoring inflation in.
For me you gave a good example of how a "hard asset" works as a store of value.
It is said today that the U.S. dollar is overvalued, and some say that the U.S. stock indexes too are overvalued or inflated in price.
As far as a "commodity" a used M-body does seem to be a store of value.
BTW I think one of the best times to have bought Leica gear was around 2007-2008. This is when people were selling their treasures to raise cash during the "Credit Crunch." People who were flush with cash found great deals on the cleanest gear.
I speculate that the next downturn might be similar. Keep some ammo dry as they say.