This Leica camera was manufactured in 1923 in only 250,000 units. It was sold at an auction in Vienna on May 28, 2011 for the astronomical price of 1,320,000 Euros or US$ 1.9 millon, making it the most expensive camera sold in an auction. The buyer is an Asian, collector of cameras.
An auction represents one of the true spirits of capitalism, together with the stock market. It simply reflects the law of supply and demand. For the majority of people, this camera has absolutly no value whatsoever except for the person who wants to pay for it.
The same amazing principle applys for the stock market. The capitalization of Facebook is over US$ 83 billion and while the market value of Google is over US$ 192 billion. Who would have thought 20 years ago, before the birth of the internet, that intangible assets such as Facebook and Google websites would be worth that much? Value is in the eye of the beholder, indeed ....
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