Rare Prototype Leica M Expected to Sell for Over $750,000 at Auction

423 lots comprising rare and exceptional pieces of photographic history will be up for auction at the 45th Leitz Photographica Auction on November 23 in Vienna. 2024 is a landmark year for Leica Camera AG, marking 70 years since the company introduced the first Leica M rangefinder camera, arguably the most influential camera model ever. Many remarkable Leica M models will be up for auction, including some expected to sell for nearly $800,000.

The six lots expected to sell for the highest hammer prices are all Leica M related, including an incredible Leica M prototype starting at €300,000 ($326,616) and expected to sell for as much as €700,000 ($762,104). The prototype camera, lot 76, was manufactured in 1948 or 1949, nearly six years before the Leica M3’s introduction in 1954. As evidenced by the prototype’s age, the development of the Leica M-series cameras and new M-mount took a long time and significant engineering effort.

This prototype is unnumbered and lacks engravings, but it is one of the earliest known Leica M prototype cameras. All the parts, including the back door, camera chassis, and base plate, were hand-machined and unique to this particular camera. The body is a couple of millimeters shorter than the final Leica M3 design and covered in sharkskin-type vulcanite. Besides its handmade nature and slightly different size, the prototype has other unique features, including special strap lugs, an external film counter, a unique winding lever, and a different style of frames surrounding the viewfinder.

The prototype is fully functional and, per the auction house, “in beautiful condition.” It includes a unique, unnumbered Elmar 3.5/3.5cm lens and a prototype light meter.

“The camera is one of the earliest known prototypes from the development of the M, without a serial number and composed entirely of unique machined and handcrafted parts. This unique M3 prototype is one of the most remarkable items we have ever offered at our auctions,” explains Alexander Sedlak, managing director of the Leitz Photographica Auction.

Another beautiful and rare camera available is a Leica M2 grey paint. This camera, lot 235, will start at €260,000 ($283,067), making it the second most expensive lot available. The stylish blue-grey camera is estimated to sell for as much as €600,000, just over $653,000.

Built in 1960, Leica delivered only 20 of these grey-painted M2 cameras to the United States Air Force in Germany. Of these 20, all delivered on June 9, 1960, only a dozen are believed to still exist. This model, number 1105769, is in excellent condition, showing just a little patina.

“Not only is the grey M2 one of the rarest Leica cameras ever made, but it is also one of the most attractive, especially with the minimal patina like the offered example,” Leitz Photographica Auction explains.

“With its rarity and exceptional condition, this camera is among the rarest Leicas ever,” Sedlak adds.

Much like the M2 above attracts attention to its paint and appearance, another high-value Leica camera up for auction is special because of its style. Black paint Leica cameras are extremely popular, and a particular Leica M3 black paint Black Dial camera is no exception.

The available Leica M3 black paint Black Dial, number 919119, is an extremely rare first version of the black paint Leica M3, one of only a few made for the Leitz marketing department to show in advertising and at camera shows. This particular camera has a special designation, “12.12.1958,” and was delivered to “Peter” in the “Werbeabteilung,” or marketing department.

The camera is in exceptional condition with minimal brassing around its controls. Beyond its excellent condition, the camera is also rare thanks to its included Summicron 2/5cm no. 1582155 lens, which was delivered to the marketing department on the same day as the camera, December 12, 1958.

“It is not only the most desirable version of the black paint Leica M3, but also an interesting artifact from the company’s history,” Leitz Photographica Auction explains. It will start at €140,000 ($152,420) and could sell for as much €320,000 ($348,390).

Other standout Leica M cameras available include a Leica M3 First Batch Double Corner camera, a Leica M7 Titan ’50 Jahre Leica M System’ 3-lens kit, and a Leica IV to M series collection of prototypes.

As always, there are plenty of non-Leica items available, including a Nikon Fisheye-Nikkor 2.8/6mm Auto 220° lens that may sell for six figures, a Nikon F made for NASA, and a Soviet Salyut 1W space camera.

The 45th Leitz Photographica Auction will start on November 23 at 11 AM CET at the Hotel Bristol in Vienna, Austria. Bids can be submitted in advance online. Live bidding during the auction is possible on-site, by telephone, or online. Complete details and the entire auction catalog is available on the Leitz Photographica Auction website.

Image credits: Leitz Photographica Auction