sidneyc
2009
It stems from the stable retail price and supply
The DLux range have a more stable retail/street price than the LX range over time, so for example, by now the LX5 is selling for as little as $360 at that auction site. It's MSRP was $500 when announced. Which means now those who bought it almost 2 years ago (like me) would most likely get not much more than $300 back (roughly 40% loss).
On the other hand Dlux5 started at $800 but it's still going at close to the RRP now. So as a result of that, used units are likely to fetch close to $600 so the same dollar loss as the LX5 but much smaller percentage (25%).
Given the same dollar loss, the Leica becomes a rather attractive option because of the red dot and Adobe Lightroom.
Even better is that over a longer stretch, the Leica would lose less than the Panny. I remember when the LX5 was out, people were still paying nicely for a DLux3 whereas the LX2 was almost worthless.
It's almost like getting a BMW for $50k and a Toyota for $30k and after 2 years they both lose $10k.