Essential The Official Photography Thread

Joined
Aug 3, 2012
Messages
41,054
Reputation
-36,135
Daps
231,025
Someone Bought a Leica for $24,000 in 2019 and Sold for $480,000 in 2021
Aug 23, 2021
leicaboughtlowsoldhigh-800x420.jpg


Talk about the ultimate camera flip: it has come to light that some savvy camera collector (or investor) won a rare Leica camera at auction in 2019 for $24,000 before turning around two years later and re-selling it at auction for a staggering $480,000.

Leica Rumors reports that one of its readers (who wishes not to be named) won the black-painted Leica IIIg camera at Dominic Winter Auctioneers in April 2019 for a final price of £17,500 (~$24,000).

“Produced from 1957-1960, the Leica IIIg was the last screw-mount model produced,” the auction listing’s description stated. “Most were produced in chrome, but 125 black versions were produced for the Swedish army. Other than these, which are all engraved with three crowns, the Leica IIIg being offered for sale here is the only other black paint version known to exist and predates the Swedish versions.”

The camera came with a letter of authentication from Leica itself (which stated the camera was “produced by a Leitz technician as a final test project”), a black Leicavit base plate with integral rapid winder, a Leitz Summarit 50mm f/1.5 lens, a Summarit lens hood, a Leitz Elmarit 90mm f/2.8 black lens, and an embossed brown leather hard case.

originalistigin-800x501.jpg

A photo from the original Dominic Winter Auctioneers listing showing the camera, two lenses, and proof of authentication from Leica. Photo: Dominic Winter Auctioneers.
domonicwinters-800x542.jpg

The 2019 auction listing showing the sale price of £17,500.
Two years later, the new owner put the same camera (serial number 909908) up for sale at the 38th Leitz Photographica Auction in Vienna in June 2021.

Although the pre-sale estimate pegged the value at €24,000 to €26,000 (~$28,000 to $30,500), the camera somehow ended up selling with a hammer price (including buyer’s premium) of €408,000 (~$479,200).

leicaauction-800x435.jpg

The 2021 auction showing the sale price of €408,000. Photo: Leitz Photographica Auction.
In other words, the anonymous person behind this unbelievable “flip” enjoyed a nearly 1,900% return on investment in two short years.

As one commenter at Leica Rumors puts it: “Buy a camera for the price of used car; sell it for the price of a new house.”

Hopefully the previous owner isn’t kicking themselves too hard for not holding out for a higher price…
 

MikelArteta

Moderator
Staff member
Supporter
Joined
Apr 30, 2012
Messages
249,351
Reputation
30,853
Daps
762,582
Reppin
Top 4
Was in Paris & Amsterdam last month. Since I was there with some scoundrel colleagues that drink a lot, I didn't trust myself bringing my camera and being out wasted with it. So I shot these with my galaxy s21


Amsterdam

20210725_211049.jpg



Paris
20210723_213005-EFFECTS.jpg


What did you think of paris? i thought it was overrated trash
now amsterdam :noah:
 

BonafideDefacto

The Coli's Jetsetter & Globetrotter
Supporter
Joined
May 14, 2012
Messages
5,838
Reputation
915
Daps
13,339
Reppin
The Bay
What did you think of paris? i thought it was overrated trash
now amsterdam :noah:
I'm actually in Paris a few times a year. I love it. It's the only big city where I can relax as if I'm st the beach. I chill outside at restaurants and people watch. Also helps that I minored in French and have people I went to H.S. with that live out there.

Amsterdam, I've technically been to more times since it's my gateway city into Europe. Every major city is a days train ride. I like getting out into the countryside in Holland. It's like a Thomas Kinkade painting. Dutch women aren't the most beautiful in Europe, but there shape is 2nd to none out there due to the biking culture
 

shutterguy

Photographer
Supporter
Joined
Nov 21, 2012
Messages
13,278
Reputation
4,989
Daps
40,462
Reppin
Cleveland
my condolences breh. She was a very beautiful lady, may her soul rest in peace

Thanks fam. Was always productive working with her, great attitude, always on time, never cancelled, brought her own ideas in the mix with mine. In a better place now, no longer suffering.
 
Top