Camera sells for record £1.7 million

The Leica 0-Series camera, which was built in 1923, was sold after a furious bidding war with hopeful buyers placing bids via the phone, the internet and in the auction room itself.

Only 25 of the cameras were produced in 1923 as test pieces for the 35mm film market. Only 12 of the cameras are now known to have survived.

The camera had been expected to sell for around 600,000 to 800,000 euros (£482,500-£643,300) at the WestLicht Photographica Auction in Vienna, but ended up selling for a record 2.16 million euros, or £1.7 million.

Leica have become something of a cult brand and their cameras are much sought after by collectors.

A statement by the WestLicht Auction said: "Until quite recently it would have been unthinkable that a camera could fetch a price in excess of one million euros. In recent years there has been an enormous increase in the price of such rarities.

"At the 21st camera auction on 12th May, a test camera from the Leica brand achieved the sensational price of 2,160,000 euros, including buyer's premium.

"The 3rd Lot from this high-profile auction was sold to an anonymous buyer in an exciting bidding war between the room, phone and internet bidders."