The Victor III started out as the "Victor M" (Monarch) model in 1901, and then was transitioned to Victor III nomenclature around 1905 when the tapered arm was first used, but there was some overlap in production with the M Model series. Selling for $40.00, it featured an upgraded double-spring motor, a brass horn, and a tapered tonearm (after 1905). The cabinet was made of oak, somewhat larger than the Victor II, and with additional corner ornamentation. The Victor III was produced up until the early 1920's, by which time it's price had been raised to $45.00. Approximately 104,000 of these phonographs were produced. At present, there is not a good correlation between serial number and production date for this model.