Leica M prototype sells for a cool AU$3.3 million at Leitz Photographica Auction

A Rare Leica M prototype has sold at auction for a hefty €2.04 million ($2.14m / £1.7m / AU$3.31m). The camera was the highest earning lot from many vintage Leica cameras that went under the hammer at Leitz Photographica Auction 45.

The early 'M' prototype was lot number 76, auctioned with a unique M-Mount Elmar 3.5/3.5cm lens, and it sold for far more than its estimate of 600,000 to 700,000 euros, 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," commented Alexander Sedlak, Managing Director of Leitz Photographica Auction. The 'M' changed hands for an impressive 2,040,000 euros including premium.

It wasn't the only Leica M lot to garner significant interest at the auction. Lot 79, comprised of 10 Leica M 'chassis' in various stages of completion that were constructed by Leica engineers during the development of the 'M', spanning an impressive 17-year timeline. The prototypes ranged from a modified 'Leica III' chassis dating back to 1936 to an aluminum Leica M body produced in 1953. The final bid was €432,000 ($452,000 / ££361,000 / AU$701,000), again surpassing its estimate of €300,000-€340,000.

It wasn't only Leica M prototypes that excited the bidders, with a production Leica M2 in gray paint, attracting attention. The camera, with serial number 1005769, was one of only 20 units delivered in 1960 to the US Air Force, based in Wiesbaden. Manufactured in 1960, the camera ultimately fetched €900,000 ($942,000 / £752,000 / AU$1.46m).

“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,” explained Alexander Sedlak.

The Leitz Photographica Auction also likes to do its bit for charity, and traditionally dedicates one lot to a charitable cause. The auctioneers selected a Leica M6J, produced in 1994 to commemorate the 40th anniversary of the M series, to be sold in the aid of charity, and the special-edition camera, complete with a collapsible Elmar 2.8/50mm lens, achieved a final price of €9,000 ($9,400 / ££7,500 / AU$15,000).

If you fancy bidding for a slice of Leica history, the next event organized by Leitz Photographica Auction is due to take place at Leitz Park in Wetzlar, the home of Leica Camera, on June 26, 2025, to coincide with the celebrations of the 100th anniversary of the Leica I, first introduced in 1925.

But if you can't quite stretch to one of these vintage models, perhaps a more modern digital Leica is for you? See our guide to the best Leica cameras