Get x , y of drag moded picture box

If you set the DragMode to Manual, it might be easier.

Dim OldX As Single
Dim OldY As Single

Private Sub Form_DragDrop(Source As Control, X As Single, Y As Single)

    Source.Left = X - OldX
    Source.Top = Y - OldY
    
End Sub

Private Sub Picture1_MouseDown(Button As Integer, Shift As Integer, X As Single, Y As Single)

    If Button = 1 Then
        OldX = X
        OldY = Y
        Picture1.Drag
    End If
    
End Sub