Expert: David Silver - 1/15/2011

Question
I have a Leica dbp Ernst Leitz  gmbh Wetzlar Germany #770169  It has casein excellant condition. I also have the instruction book and hard cover book Leica Manual. There is a lens cap  flash unit complete  dapter ring  3filters and a bulb I have showed my camera to a person collecting LEICA cameras He said I really tookcare of the camera offered $400.OO Said it was worth $600.00
Do you think this was a goo price   Thank you again z

Answer



Hello Zita,

Serial number 770169 is a Leica IIIf (so-called "red dial" version, with self-timer), a traditional 35mm coupled rangefinder camera, made by Leitz of Germany in 1955.  This is a common camera, with over 180,000 produced from 1950 to 1957, but still regarded as a fine usable as well as collectible camera.  An excellent example, complete with a proper matching Leitz 50mm normal lens (most likely an Elmar or Summicron), would indeed have a conservative fair market value around $600 today.  This is the last of three variations of the Leica IIIf, and the most desirable.  What many people fail to understand is that full resale value is never a reasonable expectation when trying to sell old cameras.  Those values are reference points only, and apply to an open market sale by a known and respected retailer.  In other words, the fair market value is what you'd expect the majority of dealers to ask for the item.  As a part of the "mundane" public (somebody who is not in the actual camera trade), your reasonable expectation is really 50%-60% of fair market value, and anything above that is gravy.  So if the camera is worth around $600, an offer of $400 (basically 67% of value) is actually surprisingly fair and honest.  Frankly, I'd counter-offer the prospective buyer to "split the difference" and come up with $500.  The worst he could do is say no.  But $400 is not a bad offer, and I must compliment the buyer for his sincerity.

Best wishes,

David F. Silver - President
International Photographic Historical Organization

silver@photographyhistory.com