Leica cameras continue to hold their value extremely well, and very rare models continue to smash auction records.
A case in point being an unnumbered Leica M prototype made between 1948-1949, which recently sold for an eye-watering 2.04 Million Euros (£1,702,879) at the Leitz Photographica Auction 45 in Vienna.
Constructed entirely from a combination of unique machine-made and hand-crafted parts, this very rare prototype easily surpassed its 600,000-700,000 Euro estimate.
Old money: other top Leica auction sellers
- A collection of 10 prototype M bodies, constructed by Leica engineers between 1936 and 1953, sold for 432,000 Euros.
- A limited grey Leica M2, one of only 20 produced for the U.S. Air forces stationed in Europe in 1960 went for 900,000 Euros
- A charity lot M6J and collapsable Elmar 2.8/50mm lens sold for 9,000 Euros, with proceeds going to charity.
The next event organized by Leitz Photographica Auction will take place at Leitz Park in Wetzlar, the home of Leica Camera AG on June 26, 2025. It coincides with the celebrations of the 100th anniversary of the Leica I, first introduced in 1925. Start saving up!
Don’t miss our review of Leica’s latest camera, the Leica Q 43 compact. If you are looking for a still excellent camera without the premium vintage Leica price tag, check out our Black Friday deals too!
From Leica, November 25th, 2024 (edited)
Since its inception, the events organised by Leitz Photographica Auction have been considered as a significant gathering point for the international community around coveted collectibles from the world of photography. Among these, valuable objects from the 70-year history of the Leica M have always played an important part.
First introduced in 1954, this groundbreaking camera became the preferred choice for many of the world’s most renowned photojournalists and exceptional photographers during the latter half of the 20th century. To commemorate the M series’ anniversary, the auction team curated a collection of exclusive items that illuminate the history of this iconic model in all its facets — including some of the earliest development prototypes, which attracted considerable interest from many bidders.
Unnumbered M prototype and chassis collection with surging interest
Among the standout items was lot number 76, an early ‘M’ prototype that proved to be the most sought-after lot of the auction, thanks to its exceptional historical significance. “Produced between 1948 and 1949, this camera is one of the earliest known prototypes from the development of the M series.
It bears no serial number and is constructed entirely from a combination of unique machine-made and hand-crafted parts — undoubtedly one of the most extraordinary lots we have ever had the privilege to offer,” remarks Alexander Sedlak, Managing Director of Leitz Photographica Auction. The ‘M’ changed hands for an impressive 2,040,000 euros including buyers’ premium. This camera, auctioned with a unique M-Mount Elmar 3.5/3.5cm lens, had originally been estimated at 600,000 to 700,000 euros.
An even deeper glimpse into the history of the Leica M was provided by lot 79, which was made up of ten different prototype objects. These camera bodies (“chassis”) were constructed by Leica engineers during the development of the later production version of the ‘M’, spanning an impressive 17-year timeline—from a modified ‘Leica III’ chassis dating back to 1936 to an aluminium Leica M body produced in 1953. This lot was sold for 432,000 euros including premium, surpassing its estimate of 300,000 to 340,000 euros.
Air Force M
“It is not only M prototypes which hold exceptional rarity and thus immense collector value. Many cameras from the ‘M’ series, along with their accessories, are particularly remarkable for a variety of other reasons — for instance, those produced in limited quantities for niche audiences,” explains Alexander Sedlak. Falling into this category is a Leica M2 grey paint, serial number 1005769, one of only 20 units delivered in 1960 to the “U.S. Air Forces in Europe” in Wiesbaden. Manufactured in 1960, the camera entered the auction with an estimated value of 500,000 to 600,000 euros and ultimately fetched 900,000 euros, including premium.
Next aution in Wetlzar
As is tradition with Leitz Photographica Auction, the auction house dedicated one lot to a charitable cause. This year, the experts selected a Leica M6J, produced in 1994 to commemorate the 40th anniversary of the M series. This special edition camera, sold with a collapsible Elmar 2.8/50mm lens, achieved a final price of 9,000 euros, including premium.
As always, the motto holds true: after the auction is before the auction! The next event organized by Leitz Photographica Auction will take place at Leitz Park in Wetzlar, the home of Leica Camera AG. The 46th edition of Leitz Photographica Auction is scheduled for June 26, 2025, coinciding with the celebrations of the 100th anniversary of the Leica I, first introduced in 1925.
