We have obtained CCD UBVRI photometry of 3620 stars in the globular cluster
NGC 6723, one of the few globular clusters with a horizontal branch well-p
opulated on both sides of the instability strip. This is the first deep fiv
e-color study of NGC 6723. We have determined several important parameters
for this cluster. Its color excess is E(B - V) = 0.11+/-0.01. The most plau
sible value of metallicity is [Fe/H] = -1.22 +/- 0.15; even lower values ar
e possible. The apparent distance modulus of the cluster is (m - M)(V,6723)
= 14.76. From isochrone analysis, are prefer the NGC 6723 age in the range
between 15 and 16 Gyr, in the scale of Bergbusch & VandenBerg (1992). We f
ind a close similarity of the shape and slope of the red giant branch in NG
C 6723 and M 3 and of the magnitude difference between the main-sequence tu
rnoff and the horizontal branch in NGC 6723, M 3, and M 5.