The Leitz 135mm f/3.4 APO-Telyt-M is a short telephoto rangefinder lens for the Leica M bayonet mount, aimed at photographers needing reach beyond the standard 90mm focal length. It is widely regarded as the final and most refined 135mm design in the M system, intended for portrait, landscape and detail work where corrected long-focus performance matters.

Auction data for this model is thin: a single UK saleroom record from April 2021 shows a hammer price of £1,364, which sets the only confirmed reference point for what a clean example has sold for at wholesale level. With just one verified sale on file, today's market value should be treated as indicative rather than a true median, and condition-driven swings are likely either side of that figure in 2026. Buyers asking what a 135mm f/3.4 APO-Telyt-M is worth at UK auction should weigh this lone hammer result against current dealer asking prices, which typically sit higher once commission and retail margin are added.