Hang on to your wallets, aspiring filmmakers. Starting early next year, Peter Jackson will film The Hobbit in 3D on 30 hand-machined RED EPIC cameras.

While that’s big news, it’s not the only important bit.

A limited number of pre-production EPIC packages will go on sale, presumably to people hoping to film their own Elf fan fiction. Included in the package: 1 machined EPIC-M body, 1 titanium PL mount, 1 Bomb EVF and 5-inch touchscreen LCD, 1 REDmote, 4 batteries, 1 battery charger, and 4 128 GB SSDs in 1 storage module.

Want to roll like Peter Jackson? All this can be yours for just $58,000.

Here’s the official RED press release:

Peter Jackson’s two film adaptation of The Hobbit will be shot in 3D using RED DIGITAL CINEMA’S soon to be released EPIC Digital Cameras.

The successor to RED’s industry changing RED ONE, the EPIC has 5K resolution, can shoot up to 120 frames per second and has a new HDRx™ mode for the highest dynamic range of any digital cinema camera ever made. Taking everything they had learned from building their first camera, RED designed the EPIC from scratch and have produced a smaller, lighter camera that is an order of magnitude more powerful.

The Hobbit will be amongst the first productions in the world to use the EPIC and at least thirty cameras will be required by the 3-D production. The EPIC’S small size and relatively low weight, makes it perfect for 3-D – where two cameras have to be mounted on each 3D rig.

Jackson has a long history with RED, dating back to when he directed the short film ‘Crossing the Line’ as a very early test of prototype RED ONE cameras. “I have always liked the look of Red footage.” he says, “I’m not a scientist or mathematician, but the image Red produces has a much more filmic feel than most of the other digital formats. I find the picture quality appealing and attractive, and with the Epic, Jim and his team have gone even further. It is a fantastic tool, the Epic not only has cutting edge technology, incredible resolution and visual quality, but it is also a very practical tool for film makers. Many competing digital systems require the cameras to be tethered to large cumbersome VTR machines. The Epic gives us back the ability to be totally cable free, even when working in stereo.”

Jim Jannard the owner and founder of RED flew to New Zealand earlier this year with members of his team so that Jackson could test the EPIC and assess its suitability. “Everybody at RED is incredibly proud that Peter has chosen the Epic” says Jannard, “The Hobbit is a major production, and could have chosen any camera system that they wanted. The fact that they went with us is extremely gratifying.”

The Hobbit will start shooting in New Zealand early next year for a late 2012 release.

Do you think Jackson’s reliance on digital cameras will be good or bad for The Hobbit?

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