The Leitz 16-18-21mm f/4 Tri-Elmar-M ASPH is an ultra-wide zoom lens for the Leica M rangefinder bayonet mount, offering three discrete focal lengths (16mm, 18mm and 21mm) at a constant f/4 aperture. Often nicknamed the WATE (Wide-Angle Tri-Elmar), it was designed for M-system photographers wanting a single compact ultra-wide solution rather than carrying three separate prime lenses, and it requires an external viewfinder for accurate framing.

At recent UK auction, hammer prices for the Tri-Elmar-M 16-18-21mm ASPH have sat in a tight band: the two recorded saleroom results landed at £2,500 and £2,625, giving a median of roughly £2,562. As of 2026, that wholesale level reflects what clean examples sell for under the hammer before commission, and well-presented copies with the dedicated multi-focal viewfinder tend to achieve the upper end of the range, while bare-lens examples without accessories typically fetch less.