A camera used by one of the world's most influential photographers, who documented Spanish artist Pablo Picasso's life, has sold in Vienna for a record €1.7m, The Associated Press reported.

The Leica M3D, which had attracted an opening bid of €150,000, belonged to former Life magazine photographer David Douglas Duncan. The 96-year-old photojournalist was a close friend of Picasso and published hundreds of exclusive photos of him.

Manufactured in 1955, the camera is one of only four ever made, and the price set a world record for a commercially produced camera. It is the second highest price paid for any camera after a Leica 0-Series was sold for €2.2m last May.

The Westlicht gallery in Vienna said the second-highest price in the sale, held on Saturday, was for a gold-plated Leica made in 1929, which sold for €1m. A third, the first serial-production M3, sold for €900,000.