The men discuss how much each slave is worth, with one fighter claiming that he will pay more for a girl with "blue eyes" and another saying he wanted a 15-year-old girl with green eyes. One man wants to exchange a female slave for a Glock gun.
Although difficult to verify, from the men's accents it is believed they originate from Saudi Arabia, and are discussing a market in Mosul, Iraq.
Charlie Winter, of the Quilliam Foundation that campaigns against extremism, said to The Independent he was surprised when he first saw the video last week.
"One thing that is striking is that individuals who are usually first to denounce footage of this kind as part of a 'dishonest' campaign against Isis have instead recognised it. It seems to sit well with them, and I've seen this shared widely across the usual platforms."
The video possesses "none of the traditional hallmarks" viewers have come to expect from Isis, instead, said Mr Winter, the fighters were "competing to be controversial: it certainly isn't a propaganda video but more a demonstration of how comfortable they are."
As the camera travels around the room, the atmosphere is disconcertingly jubilant, one of the men repeatedly shouts: "Where is my Yazidi girl?"
At one point the video shows a young boy being asked if he wants a "Yazidi slave". When he nods the older men surrounding him laughingly inquire: "Can you handle her?" In response the boy giggles.
A man towards the beginning of the video claims: "I swear man I am looking for a girl. I hope I find one."
Transcript of the video
-Today is the slave market day. Today is the day where this verse applies "Except with their wives and the (captives) whom their right hands possess, for (then) they are not to be blamed."
-Today is distribution day God willing. Each one takes his share.
-I swear man I am searching for a girl. I hope I find the one.
-Today is the day of (female) slaves and we should have our share.
-Where is my Yazidi girl? Where is my Yazidi girl?
-Whoever wants to sell his slave, whoever wants to give his slave as a present everyone is free to do what he wants with his share.
-Where is my Yazidi girl?
-Whoever wants to sell, I can buy my brothers. Whoever wants to sell his slave I buy. Whoever wants to sell his own slave, I buy her. And if you also give her as a girl, also I take her. Who wants to sell?
-I want to sell.
-Why?
-I pay three banknotes [1 banknote is most probably 100 dollars]. I buy her for a pistol. The price differs if she has blue eyes.
-I buy her for a Glock.
-I pay 5 banknotes.
-It depends on what she looks like.
-If she is 15-years-old...I have to check her ...Check her teeth.
If she has green eyes...
If she doesn't have teeth, why would I want her?
-Put dentures for her.
-I don't want.
- ON the Yazidis... Can one take 2 slave girls? Does that work?
-[Voice behind camera] You have a share. What will you do with it?
-I've got a share of Yazidi but I don't want one.
-Why? Wait why don't you want yours?
-Abu Farouk and I, we do not want any.
-[Asks boy] Do you want a Yazidi slave? [boy nods] Can you handles her?
- Independent