A one-off olive-painted Leica for West Germany’s Bundeswehr – the first of a proposed series which never made it into production – sold for 20 times its estimate at the inaugural Ostlicht Camera Auction in Shanghai, China.
The Leica IIIg, covered in olive vulcanite and featuring a chrome Elmar 50/2.8 lens, was made in 1960 and was the first example of an expected run for the West German Army, also known as the Bundeswehr.
The series, however, never went into production, and the camera remains the only example ever produced.
The camera, with a start price of €80,000 (£66,700), had been expected to sell for between €140,000 and €180,000 (£116,700 to £150,000).
However, the hammer price ended up being €3,620,000 (£3,018,000) when the camera sold on 16 November.
“After an exciting 14-minute bidding battle between three parties, a long-distance telephone bidder won the bid for the record sum of €3,620,000 (including premium) – more than 45 times the starting price of €80,000,” said auctioneer Peter Coeln.
Two other Leica cameras included in this sale – the first by Ostlicht Camera Auction to take place at the Fotografiska Museum in Shanghai.
Three other Leica cameras sold for more than €500,000.
“The Leica M3 from 1953, one of the first M cameras produced with the serial number 700008, achieved the equally record-breaking price of €945,000 (788,000) (starting price €140,000). Lot 41, the black-painted Leica MP-97, realised €710,000 (£592,000). The starting price was €220,000. On average, the lots were auctioned for five times their starting price,” said Coeln.
The third was an E Leitz New York Leica Gun Rifle made in 1938 and believed to be one of just 12 in existence.
Ostlicht Camera Auction described it as one of the “best preserved sets in beautiful and 100% original condition, a highlight of every camera collection”.
The set, including the modified Leica IIIa and a 200mm f/4 Telyt lens, sold for €533,600 (£445,000) – nearly four times its starting price.
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