While many photographers long for the absolute best cameras for their collections, there's absolutely nothing wrong with having a lower-priced or "consumer" version of a higher-priced camera in your kit. The camera maker Rollei knew how to produce some of the most desirable cameras of the mid-20th century, but they also understood that not everyone who wanted the quality results that came from a Rolleiflex was able to pay the financial price to own one.
The Rolleicord III (official model name the K3B) came to market in 1950 and was in production through the middle of 1953. With a Schneider Xenar 75mm f/3.5, the Rolleicord could hold its own against the higher-priced Rolleiflexes of the same vintage. So if you're getting the same lens, what is the photographer not getting in terms of features? Primarily, the Rolleicords are missing the classic wind lever to advance the film. Subsequently, loading film is a bit more cumbersome and advancing the film requires a knob instead of a lever. While these are primarily ergonomic in nature, the difference for some photographers is enough to make them spend the extra money for the Rolleiflex.
Another difference between the Rolleiflex and the Rolleicord is that the latter does not have a self-cocking shutter. Subsequently, the photographer needs to remember to re-cock the shutter between making images. Of course, this also allows for easier double-exposures, if that's what's wanted.
So what's a potential buyer to do? Save and wait for a "higher-end" Rolleiflex or get the same lens with a few different features for less money with a Rolleicord? Ultimately, there's no correct answer that will work for everyone, but if you find a Rolleicord, do yourself a favor and consider it. Your images will be the final arbiter.
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Rolleicord III with tan leatherette
The Rollei Rolleicord is a pretty exceptional line of cameras. While much attention gets paid to the higher-end Rolleiflex cameras, the Rolleicords enjoyed a production run lasting from 1933 until 1977. This Rolleicord III, was manufactured right in the middle, circa 1950-53. The rest of the Rolleicord line ranged from the Rolleicord I to the Rolleicord Vb.
The Rolleicords were meant as lower cost options to their much more expensive Rolleiflex brethren, and this still holds true today. If you want a really nice TLR, but cannot afford a Rolleiflex, then give a Rolleicord some investigation. They tend to have excellent lenses, in their own right, and they have a very similar, high quality build and operation as the Rolleiflexes.