Leitz 50mm f/1.2 Noctilux-M
The Leitz 50mm f/1.2 Noctilux-M is an ultra-fast standard prime in Leica M bayonet mount, introduced in the late 1960s as the company's first aspherical production lens. Designed for available-light rangefinder photography, it was produced only in small numbers before being replaced by the 50mm f/1.0 Noctilux, which has made surviving examples among the most sought-after post-war Leitz lenses.
At UK auction the 50mm f/1.2 Noctilux-M has a hammer range of £2,151 to £12,000 across the recorded sales, with a median around £10,000 — these are saleroom results, excluding commission, rather than dealer retail prices. Clean, complete examples have sold for £10,000–£12,000 in recent years, while earlier or less complete copies have fetched far less; as of 2026 this remains one of the highest-value serial-production Leitz M lenses, and what a given copy sells for is driven heavily by cosmetic condition, glass clarity and the presence of the original hood and caps.
Sales History
Prices shown are UK auction hammer results — the wholesale level achieved in the saleroom. Neither buyer’s nor seller’s commission is included. Dealer and retail asking prices are typically higher.
| Date | Price | Source | |
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| Nov 2025 | EUR 70,000 | Leitz Auction | |
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Auction: Leitz Auction 47 (Lot A02372) Title: Noctilux 1.2/50mm ASPH. 11702 Edition silver chrome
Description:
The Noctilux 50 f/1.2 was one of the first serially produced Leica lenses to feature a black finish. During the transition phase of moving from silver to black-paint lenses, Leica made a very small number of Noctilux 50 f/1.2 prototypes with a silver finish. Today, they count among the most coveted and highly-priced M lenses that there are. As a homage to the ultra-rare Noctilux in silver, Leica released a special edition of the Noctilux-M 50 f/1.2 ASPH. with a silver chrome finish. Its packaging has been designed to emulate the original box of 1966. The lens barrel is made of brass rather than aluminium. Instead of the customary Leica engraving, the front ring is marked with the letters LEITZ WETZLAR – just like the original Noctilux 50 f/1.2. Only 100 units of this special-edition model were available worldwide. The offered example bears the serial number 4785237, special edition number 055/100 and is in perfect, unused condition. |
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| Nov 2024 | EUR 28,000 | Leitz Auction | |
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Auction: Leitz Auction 45 (Lot A01246) Title: Noctilux 1.2/50mm 11820 first batch
Description:
Rare extremely early Noctilux 1.2/50mm from the very first batch of 200 lenses starting with no.2176701. The 1966 Noctilux 1.2/50mm was the first 50mm lens in the world containing an aspheric element. Leitz Wetzlar optical designers Helmut Frank and Dr Paul Sindel were responsible for optical computation. The lens was introduced in 1966 and was received by the market as a sensation. It is almost entirely free of spherical aberration and coma while producing an exceptionally high contrast. Forty-five years ago, however, even for Leitz, it was quite a challenge to create such a lens, a fact reflected in its price: the lens was almost twice as expensive as the body of a Leica M4. It was replaced by the 50mm Noctilux f/1 in 1976, which – using optical glasses new at that time – could be calculated without aspherical elements and was even cheaper than its predecessor. In ten years of its production, only about 2500 units of the 50mm Noctilux f/1.2 were produced in total, representing one unit per business day. The Noctilux f/1.2 lens can truly be called a legend in the technical development of the Leica lenses. It is sought-after by collectors and still a favourite of some photographers. The offered example is in beautiful cosmetic condition, almost perfect optics only showing few flakes on the far sides, with an original 12503 hood, front cap, plastic keeper and a scarce maker's box with a matching serial number! Estimate: EUR 26,000 - EUR 30,000 |
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| Nov 2023 | £23,750 | Flints Auctions | |
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Auction: Fine Photographica (Lot 53A) Title: A Leitz Noctilux f/1.2 50mm Lens
Description:
1973, first version / last batch, black, serial no. 2556842, body, VG-E, complete with maker's lens caps |
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| Nov 2022 | EUR 300,000 | Leitz Auction | |
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Auction: Leitz Auction 41 (Lot AI_41_40576) Title: Noctilux 1.2/50mm B702 chrome prototype
Description:
The Noctilux 1.2/50mm was the world's first serial production 35mm lens containing aspherical elements. Leitz Wetzlar optical designers Helmut Marx and Paul Sindel were responsible for optical computation. Professor Helmut Marx used an Elliott 402F computer to help design and save time on ray tracing. When the lens was introduced in 1966, it was the pinnacle of lens design and technological possibilities. It is almost entirely free of spherical aberration and coma while producing an exceptionally high degree of contrast. Fifty years ago, however, even for Leitz, it was quite a challenge to produce such a lens, a fact reflected in its price: the lens was almost twice as expensive as the body of a Leica M4. It was replaced by the 50 mm Noctilux f/1 in 1976, which, using new optical glasses, could be calculated without aspherical elements and was cheaper and much less labour-intensive in production than its predecessor. In ten years of production, only about 1800 units of the 50 mm Noctilux f/1.2 were produced in total, representing one unit per business day. The Noctilux f/1.2 lens can truly be called a legend within the technical development of the Leica lenses. It is not only sought-after by collectors but still also a favourite of many photographers. In the 41st Leitz Photographica Auction, we have the pleasure of offering the white unicorn of the Leica M lenses - the original chrome prototype of the Noctilux f/1.2. The lens is in excellent condition, optics show some blemishes on the front and rear element. The photographic test reveals that the lens still produces beautiful, dreamy images, the first version Noctilux is famous for. A small patch of milimeter paper is taped over the depth-of-field scale – it was used to mark the lens’ test results at the factory. At first glance, the front rim appears not to be engraved, but under a closer look, a small, blackened engraving can be seen: LEITZ WETZLAR GERMANY 1:1.2/50 B702 0000663 The Noctilux name is not engraved yet on this prototype. Estimate: EUR 400,000 - EUR 500,000 |
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| Jun 2022 | EUR 50,000 | Leitz Auction | |
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Auction: Leitz Auction 40 (Lot AI_40_39640) Title: Noctilux 1.2/50mm ASPH. 11702 silver chrome
Description:
The Noctilux 50 f/1.2 was one of the first serially produced Leica lenses to feature a black finish. In the course of the transition phase of moving from silver to black-paint lenses, Leica made a very small number of Noctilux 50 f/1.2 prototypes with a silver finish. Today, they count among the most coveted and highly-priced M lenses that there are. As a homage to the ultra-rare Noctilux in silver, Leica released a special edition of the Noctilux-M 50 f/1.2 ASPH. with a silver chrome finish. Its packaging has been designed to emulate the original box of 1966. The lens barrel is made of brass, rather than aluminium. Instead of the customary LEICA engraving, the front ring is marked with the letters LEITZ WETZLAR – just like the original Noctilux 50 f/1.2. Only 100 units of this special-edition model were available worldwide. The offered example bears the serial number 4785204, special edition number 008/100 and is in perfect, unused condition. Estimate: EUR 24,000 - EUR 26,000 |
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| Nov 2021 | EUR 12,000 | Leitz Auction | |
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Auction: Leitz Auction 39 (Lot AI_39_39587) Title: Noctilux 1.2/50mm 11820
Description:
The 1966 Noctilux 1.2/50mm was the first 50mm lens in the world containing an aspheric element. Leitz Wetzlar optical designers Helmut Frenk and Dr. Paul Sindel were responsible for the optical computation. The lens was introduced in 1966 and was received by the market as a sensation. It is almost entirely free of spherical aberration and coma while producing an exceptionally high degree of contrast. 45 years ago, however, even for Leitz it was quite a challenge to produce such a lens, a fact reflected in its price as well: the lens was almost twice as expensive as the body of a Leica M4. It was replaced by the 50 mm Noctilux f/1 in 1976, which – using optical glasses new at that time – could be calculated without aspherical elements and was even cheaper than its predecessor. In ten years of its production, only about 2,500 units of the 50 mm Noctilux f/1.2 were produced in total, which represents a proportion of one unit per business day. The Noctilux f/1.2 lens can truly be called a legend within the technical development of the Leica lenses. It is not only sought-after by collectors, but still also a favourite of some photographers. This particular example is in excellent cosmetic condition, with almost perfect optics, with an original 12503 hood, front cap and plastic keeper. Estimate: EUR 24,000 - EUR 26,000 |
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| Nov 2019 | EUR 22,000 | Leitz Auction | |
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Auction: Leitz Auction 35 (Lot AI_35_37541) Title: Noctilux 1.2/50mm
Description:
The Noctilux 1.2/50mm was the first 35mm lens in the world containing an aspheric element. Leitz Wetzlar optical designers Helmut Frenk and Dr. Paul Sindel were responsible for the optical computation. The lens was introduced in 1966 and was received by the market as a sensation. It is almost entirely free of spherical aberration and coma while producing an exceptionally high degree of contrast. 45 years ago, however, even for Leitz it was quite a challenge to produce such a lens, a fact reflected in its price as well: the lens was almost twice as expensive as the body of a Leica M4. It was replaced by the 50 mm Noctilux f/1 in 1976, which – using optical glasses new at that time – could be calculated without aspherical elements and was even cheaper than its predecessor. In ten years of its production, only about 2,500 units of the 50 mm Noctilux f/1.2 were produced in total, which represents a proportion of one unit per business day. The Noctilux f/1.2 lens can truly be called a legend within the technical development of the Leica lenses. It is not only sought-after by collectors, but still also a favourite of some photographers. This particular example is in near mint cosmetic condition, with good optics, with original 12503 hood and rear cap Estimate: EUR 16,000 - EUR 18,000 |
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| Nov 2014 | EUR 10,000 | Leitz Auction | |
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Auction: Leitz Auction 26 (Lot AI_26_30982) Title: Noctilux 1.2/50mm
Description:
very rare Noctilux in fine condition with clean lenses (front cap, keeper) Estimate: EUR 12,000 - EUR 14,000 |
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| Feb 2005 | £2,280 | Christie's | |
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Auction: CAMERAS AND PHOTOGRAPHIC EQUIPMENT (Lot 67) Title: Noctilux f/1.2 50mm. no. 2255341
Description:
Noctilux f/1.2 50mm. no. 2255341 Estimate: £1,200 - £1,800 |
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| Jun 2004 | £2,151 | Christie's | |
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Auction: LEICA, NIKON AND 35MM CAMERAS (Lot 358) Title: Noctilux f/1.2 50mm. no. 2255341
Description:
Noctilux f/1.2 50mm. no. 2255341 Estimate: £1,000 - £1,500 |
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| May 2003 | EUR 3,438 | Leitz Auction | |
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Auction: Leitz Auction 2-3 (Lot AI_2_22072) Title: Noctilux 1.2/50mm
Description:
very rare Noctilux 1.2/50, mint with perfect, clean optics Estimate: EUR 1,967 - EUR 2,247,729 |
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