Leica R3 shutter

I have several Minolta XE-7's so when a "broken" Leica R3 came up on Ebay, I thought I would buy it as a stable mate.

It arrived today and as the seller said the mirror was in the up position. I change the batteries and fired the shutter and the mirror stayed up. Releasing the battery holder had no effect. Then I noticed there was "oil" on the shutter blades. Well I took a bunch of Q-tips and cleaned the shutter as best I could. This took some time as I needed to operate the shutter and wipe the blades many times. Now it is about free of the "oil" and the shutter is working on all speeds without the mirror getting stuck in the up position.

Any idea what the "oil" was and will it return? BTW the camera is very smooth and nearly in mint condition, but I can't afford any lenses for it right now.

Your guess would be as good as mine, but most likely someone decided to lube it and over did it. Excess oil wouldn't have gotten there by itself.

But the mirror sticking open is likely being caused by material deteriorating intended to cushion the mirror. The same material was used around the back door in order to prevent light leaks. I'd consider having someone go through the camera. If I'm right, the mirror will eventually go back to sticking open until the material is replaced.

...But the [R3's] mirror sticking open is likely being caused by material deteriorating intended to cushion the mirror.

I had a couple of R3's a long time ago, but I don't think it has any mirror foam. From what I remember, the mirror is mechanically damped. Anyone know for sure?

I think you are correct about the mirror foam - there doesn't seem to be any., at least as far as I can tell.

The foam around the back door does need replacing, just like my XE-7.