The Victor M was introduced in 1901 as a premium model, and sold new at that time for $35.00. It underwent several cabinet and component design iterations during the production run. The cabinet was made of oak. Later models included the rear mount tonearm (right), and the price was increased to $40.00 at that time. A variety of horn options were available, ranging from a simple stamped steel horn to various flower and solid wood horns. In 1905, the "M" nomenclature was discontinued, and this model became the Victor III. Approximately 50,000 of these phonographs were produced. At present, there is not a good correlation between serial number and production date for this model.