Leica MP no. 394 auctioned yesterday for.... £20,000

[M9reno]

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https://bid.harperfield.co.uk/auctions/9052/srstr10147/lot-details/2b4c614c-d870-455a-868d-b1f6015a3325

No, the title is not missing an extra figure.  An interesting auction, and an even more interesting price.

[pedaes]

1 hour ago, M9reno said:

interesting price.

Well spotted, thanks! A bit of a bargain.  MP #294 sold for £26250 in 2016 as part of the Bonhams "Robert White" sale. 

Vendor may have done better using a specialist photographic auction, but good for buyer.

They certainly had some quality Leica items sold at sensible prices - speculation from a collection maybe.

Edited October 11, 2024 by pedaes

[zeitz]

18 minutes ago, pedaes said:

vendor may have done better using a specialist photographic auction

When the International Photography Hall of Fame closed its museum, it sold off all of its technology collection.  They used the Donley Auction House instead of Dan Tamarkin.  Donley is a general item auction company and of course Tamarkin runs a long-standing photographic equipment auction.  I am sure they would have done better with Dan.

[Antonio Madureira]

Good afternoon everyone.
I took the trouble to count and read the 297 articles related to Leica in this auction, and I find that, in addition to the good organization of the process, the final prices of practically all the prices achieved are much lower, sometimes two or three times cheaper than the current prices on the usual sites such as ..bay and others.  Is this the beginning of the end of an era of absurd inflation in the prices of used Leica in those sites?

Best regards

Antonio

[zeitz]

I watched some of the Wetzlar Auction today.  There were some sales well above the expected price range.  But many sales were below the expected price range.

[Antonio Madureira]

It's true, zeitz, but while Wetzlar Auction specializes in special, historical and rare cameras and materials, this auction was geared towards a more common type, as with the usual sites. so my comparison.

[willeica]

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1 hour ago, Antonio Madureira said:

It's true, zeitz, but while Wetzlar Auction specializes in special, historical and rare cameras and materials, this auction was geared towards a more common type, as with the usual sites. so my comparison.

This is not strictly correct. Wetzlar Camera Auctions tend to operate at the upper end of the spectrum and this one was no exception - I have written an article about every one of the 6 WCA Auctions so far. One complete surprise was this result, estimate 20-25 K, sold for 300K

https://www.liveauctioneers.com/item/184557404_leica-apo-summicron-m-50mm-f2-asph-leica-m-for-red-prototype

Not my kind of thing at all, but there must have been at least 2 people who badly wanted this.

William 

[luigi bertolotti]

At the Wetzlar auction, I have made an offer at base price for a lens (Super Elamr 15) ... but no other bid emerged, and the item was retired 🤔 .. apart some "sparks" I have the feel of a certain deflation/lack of interest for the not special/ultrarare items... Prototypes, seems to me, are, at the moment, rather "hot" items.

Edited October 13, 2024 by luigi bertolotti

[nitroplait]

While ultra rare items tend to defy trendlines; realised auction prices of "general" high-end art and collectors items will often provide early indicators of lack of confidence in the economy. Basic Maslow's hierarchy of needs. 

However, having just followed the results of a couple of recent art auctions at established auction houses, it is not my impression that bidding was hesitant - at least not on those things I was looking at.

The case of this MP may just have been a poorly chosen venue for the item.

 

Edited October 13, 2024 by nitroplait

[willeica]

1 hour ago, nitroplait said:

The case of this MP may just have been a poorly chosen venue for the item.

Definitely, but any auction is a good way of determining a value. There is no such thing as a 'correct' price for any vintage camera, other than the value that causes the vendor to sell and the purchaser to buy. 

Some results here from Wetzlar Camera Auctions yesterday.

William 

Edited October 13, 2024 by willeica

[beoon]

On 10/12/2024 at 7:39 PM, willeica said:

Not my kind of thing at all, but there must have been at least 2 people who badly wanted this.

William 

Hello William,

I was seated directly behind the winning bidder (the other bidder was on the telephone).

I think it was a case of “win at all cost”

regards

Alan

[willeica]

3 hours ago, beoon said:

Hello William,

I was seated directly behind the winning bidder (the other bidder was on the telephone).

I think it was a case of “win at all cost”

regards

Alan

Hello Alan, good to hear from you

I should have been in Wetzlar last week, only I got sick after a trip to the Pyrenees. That trip also featured a road accident with a bus. We had 4 people from Scotland in our group, but all survived and are well now. 

Yes, that is where the real skill of an auctioneer lies, finding  2 or more people who badly want an expensive item. No 105 was just like that, all on the phones, until one phone was left standing at 12 million Euros. 

The big surprise last Saturday was that 50mm f2 item, which sold at over 10 times the estimate.

William