The Agfa Karat 4.5 is a 35mm viewfinder camera from Agfa, the German manufacturer based in Munich. Introduced in the 1930s, it used Agfa's proprietary Karat (Rapid) cassette system rather than standard 35mm cartridges, and was positioned as a compact folding camera for amateur use.

Sales data for the Karat 4.5 is very limited, but a recorded UK auction hammer result in late 2023 saw an example sell for £20. At that saleroom level — which reflects wholesale prices excluding buyer's and seller's commission — the model sits firmly in the budget tier of pre-war German folders as of today, and price expectations in 2026 should be tempered accordingly.