The Fujifilm X100VI effect – how it’s sparked a compact camera price boom and what I’d buy instead mark.wilson@futurenet.com (Mark Wilson) | usagoldmines.com

I’ve been reviewing cameras for almost ten years and I’ve never seen anything like the the Fujifilm X100VI. The premium compact camera landed just over a year ago and immediately sold out everywhere, resulting in extraordinary six-month waiting lists. It only recently came back into stock at retailers, before again doing a Houdini-style vanishing act.

The X100VI backstory is already well known. It was one of those rare tech moments when the cultural zeitgeist – suddenly obsessed with film and compact cameras – shone its spotlight on something that seemingly had elements of both. The fuse was lit with the X100V’s viral TikTok moment in 2022, before the big explosion with its successor last year.

I’m now less interested in whether or not the X100VI deserves its hype (either way, it’s a brilliant little camera) and more in the impact it’s had on the used prices of premium compact cameras. When I was TechRadar’s Cameras Editor a few years ago, the return of that genre seemed about as likely as an Oasis reunion – but here we are in the strange world of 2025.

To see how the Fujifilm X100VI has affected the used prices of the best compact cameras and small mirrorless alternatives since it landed in February 2024, I asked MPB for some data to help. MPB uses a dynamic pricing engine to work out its second-hand valuations – if you’re in the market for a premium compact camera in 2025, the results below make for fascinating (and hopefully, helpful) reading.

Later on, I’ll reveal what I’m buying instead of an X100VI and what our current Cameras Editor Tim Coleman recommends doing. But first, here’s what’s happened to the second-hand prices of its main rivals in the US and UK…

US: The X-Pro 2 takes the baton

In the US, it hasn’t just been Fujifilm’s X100 series that’s seen a spike in demand over the past year – the appetite for cameras that are small, powerful and echo classic film cameras has spilled over to the company’s X-Pro and X-E series, too.

For example, the Fujifilm X-Pro 2, which has just turned nine years old, has seen its second-hand price rise by around 15% since October 2023. That isn’t something you see with smartphones, laptops or smartwatches that are nearly a decade old.

Considering the X-Pro line is like an X100 with interchangeable lenses, this isn’t too surprising – but the extent to which the X-Pro 2 has outpaced and closed the gap on the newer X-Pro 3 (from 2021) certainly is. This is likely down to some reported issues with the longevity of the X-Pro 3’s screen.

What about outside of Fujifilm cameras? While there’s undoubtedly some seasonality to the summer bump in the middle of the chart above, MPB told us this was also down to a perfect storm of market shortages, the renewed popularity of compacts, and a rise in the prices of new cameras. This means most premium compact cameras – retro or not – have enjoyed something of an Indian summer.

Eight out of the ten cameras that MPB gave us the pricing history for are more expensive today than they were in late 2023. The X100 series’ closest rivals, Ricoh’s GR series, have followed in its slipstream – with the GR III, GR IIIx (which has a 40mm equivalent focal length, rather than 28mm) and GR II all fetching higher second-hand prices now than 18 months ago.

A slightly more surprising case is the Panasonic Lumix LX100 II, which I think is an excellent camera but is now approaching seven years old. It’s now 18% pricier than in October 2023, according to MPB’s data. No wonder rumors persist that Panasonic could be one day launch a full-frame version.

The final lesson of this data? Maybe don’t buy a second-hand compact camera during the summer months – if this year follows the same path as above (which it may not), now is a good time to get ahead of the seasonal price rises.

UK: Ricoh GR II and Sony RX1R Mark II on the rise

In the UK, the biggest second-hand price rises among X100VI rivals have been the Ricoh GR II (now around 13% pricier than in October 2023) and Sony RX1R Mark II, which isn’t in the graph above as its high price would break the scale.

You could buy Sony’s fixed lens full-frame compact (which launched back in 2015) in ‘excellent’ condition on MPB for £1,899 in 2023, but high demand means it’ll now set you back £2,219 (a 17% rise).

That’s not too far off its original £2,600 asking price, which explains how revered its 35mm f/2 lens and 42.4MP sensor are – and also how popular premium compact cameras have become.

Like in the US, the Fujifilm X-Pro 2 (but not the newer X-Pro 3) has also seen its second-hand price rise since the X100VI landed. It’s now around 17% more expensive to buy used than in late 2023, unlike the X-Pro 3 which has had reported screen issues and saw its price drop slightly during the same period.

Interestingly, there wasn’t the same summertime rise in used prices during mid-2024 as there was in the US, which suggests that other factors like low stock have been a factor. Also, only five out of the 10 cameras above are pricier now than at the start of the period in the UK, which means the X100VI effect hasn’t been quite as pronounced there.

Still, the relatively stable nature of premium compact prices – particularly as the average age of the cameras above is well over six years old – shows that it’s a very popular space, even as the best camera phones continue to take impressive strides that were once expected to make compacts obsolete.

What I’d buy instead

Buying a premium compact camera is a more personal decision than buying a bigger camera. Unlike larger workhorses, they’re designed to be characterful companions that are all about pure fun – like a two-seater sports car that you tear around country lanes. This also means your mileage may vary.

As much as I love the Fujifilm X100 series – I made the Fujifilm X100V our number one compact camera back in 2022, despite reservations about calling it ‘compact’ – I find its fixed, 23mm lens too much of a restrictive stumbling block, despite its handy crop modes. That also rules me out of the Fujifilm X70, another premium compact that’s now more expensive to buy used than when it launched in 2016.

Because I prefer longer focal lengths, I’ve considered the Ricoh GR IIIx and its 40mm lens. But the lack of a viewfinder puts me off. Which brings me to small mirrorless cameras with interchangeable lenses, like the Fujifilm X-E and X-T series.

These are no longer ‘compact’ cameras, but they’re small enough for a large jacket pocket and to become part of my daily carry. With a Fujifilm X-E5 rumored for this year (which makes the X-E4 a bit less appealing), my choice would be the Fujifilm X-T50. You can buy one new for $1,399 / £1,299 or on $1,249 / £1,019 on MPB, although I’ve recently seen its new prices drop below £1,000 in the UK.

The X-T50 is effectively a mini version of my X-T5 and, for me, would be the ideal travel camera given I already own small primes like the 35mm f/2 and 50mm f/2. It’s also roughly the same size and weight as the X100VI, albeit a fair bit deeper with a lens attached. Still, that’s a small price I’m willing to pay for interchangeable lenses.

But that’s by no means the best option for everyone. TechRadar’s Cameras Editor Tim Coleman has a different plan: “Years back I bought a Ricoh GR IIIx instead of the Fujifilm X100VI’s predecessor (or the latest iPhone), because it offered the best image quality from a camera that easily slips into a trouser pocket. Size mattered most of all, because I wanted a camera with me all the time to build a habit of taking pictures” he told me.

“Despite also being a premium compact, an X100 camera was simply too big for my purposes – I didn’t want a camera that I had to build into my routine. That said, I used the GR IIIx and X100VI side-by-side last year, and I wish my camera had some of the X100VI’s skills – its autofocus is poor by comparison, nor does it have a flash, a viewfinder or a tilt touchscreen.

“I’m still happy that I opted for the GR IIIx, I just wish it was more refined like the X100VI. If I was buying again today, I’d have my fingers crossed for an improved Ricoh in the same mould – a potential GR IV that addresses my snag list”.

What’s next? The premium compact camera rumors for 2025

The other big impact of the Fujifilm X100VI is that it’s seemingly awakened other camera giants to the popularity of retro compact cameras – according to the rumor mill, at least.

A camera’s development cycle is usually around two years, so it isn’t surprising that the X100VI remains unique (outside of the stunning, but painfully expensive, Leica Q3). But there’s a chance it could get more competition in 2025.

One of the most likely sources is OM System, which was formerly Olympus. It recently launched the rather lovely OM System OM-3 and has seemingly been dropping hints that a new version of the classic Olympus Pen-F is in the works. That really would be an X100VI rival – but given it’s been rumored for years, I’m not holding my breath.

Another camera to file in the same category is the Ricoh GR IV. While the demand for a successor to the five-year-old Ricoh GR III is certainly there, the rumors have gone worryingly quiet. Those who want a truly pocketable camera with a big sensor, plus modern autofocus, will be hoping the speculation picks up soon.

Recently, we’ve been hearing whispers from the likes of Canon Rumors that a Canon EOS RE-1 – a retro-styled model based on the Canon AE-1, which has long been regarded as one of the best film cameras – is coming in either late 2025 or early 2026. But it’s more likely to be a pricey, full-frame camera like the Nikon Zf rather than a direct Fujifilm X100VI rival.

Even more up in the air is the possibility of a Sony RX1R III. The usually reliable Sony Alpha Rumors said in early 2025 that it still had “no definitive confirmation that a new full frame fixed lens camera will be announced in 2025”, merely that the camera isn’t impossible because Sony execs have said the RX line isn’t yet complete. Right now, there are no concrete reasons to expect it, which is a shame.

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All of which means that the most likely source of an X100VI alternative this year is Fujifilm itself. Sadly, it seems a Fujifilm X-Pro 4 is still a little way off, but a more likely arrival from our list of the most exciting cameras of 2025 is the Fujifilm X-E5.

That camera has been rumored for mid-2025 alongside a mysterious half-frame model. The X-E series have interchangeable lenses and aren’t as premium as the X100 series, so are a slightly different beast – but an X-E5 could represent a more affordable alternative for some.

Then there’s the rumored Fujifilm GFX100RF, which appears to be a super-powered X100VI with a 100MP medium format sensor and a price tag to match (most likely higher than the $3,999 / £3,499 / AU$6,499 asking price of the GFX50S when it landed in 2022).

In short, there’s still nothing quite like the Fujifilm X100VI – and that’s likely to remain the case for much of 2025. That means we can expect the used prices of rivals like the cameras above to remain high. But at least some competition, in the form of new premium compacts and small mirrorless cameras, is now on the horizon, and that’s good news for this unlikely cameras renaissance.

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