Everyone talking about the budget of the movie versus the cost of the cameras have to remember that if they actually purchase the cameras it isn't a sunk cost, it is a capital expense. The cameras and lenses are still worth something after they film the movie. They can use them for another movie or sell them. Unlike the cost of sets, post production, catering, salaries, etc.
Most movies do not buy their cameras. They rent them since the production of any movie is setup as a company for the sole purpose of producing one movie. So they rent them from suppliers, or the studios, etc. My bet is that Jackson's production company or WB is buying the cameras and then renting them to the Hobbit film company.
Most movies do not buy their cameras. They rent them since the production of any movie is setup as a company for the sole purpose of producing one movie. So they rent them from suppliers, or the studios, etc. My bet is that Jackson's production company or WB is buying the cameras and then renting them to the Hobbit film company.