The One Millionth M3 Chrome will carry an estimate of $537,680-672,100 to WestLicht Photographica Auction's November 23 sale in Vienna, Austria.
The camera is the famous Leica with the serial number 1.000.000 that was presented to the project's primary engineer, Dr Ludwig Leitz, by its chief designer, Willi Stein.
Both men were integral to the creation of the model - and designed and patented many of the mechanisms that would make it a bestseller.
The M3 was produced between 1954 and 1967 and is widely regarded as the world's best 35mm camera.
Earlier this year, the first ever Leica M3, previously owned by Willi Stein, made $1.2m - making it one of the most expensive series cameras ever sold.
A Leica I Model C Luxus is valued at $201,630-268,840.
The camera features gold metal plated parts and a faux lizard leather body, and since it has never been restored it retains its original patina.
Only 95 examples of the Luxus were produced between 1929 and 1931, with few surviving to the present day - and in recent years they have seen significant rises in value.
There have been a number of recent high profile sales of the Luxus model, with a Luxus I achieving a price of $962,518 at an auction at Bonhams Hong Kong last year - an increase of 314.4% on a $232,247 estimate.
An upcoming auction in Hong Kong will see the sale of a unique Luxus II. The only known example, it features an estimate of $1.1m.
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