Leitz 50mm f/3.5 Elmax LTM
The Leitz 50mm f/3.5 Elmax is an early screw-mount (LTM) standard lens supplied with the original Leica I in the mid-1920s, predating the more familiar Elmar of the same focal length and aperture. It is a short-lived design that marks the transition from Ernst Leitz's earliest interchangeable optics to the Elmar family that defined the brand for decades.
At UK auction in late 2024 a 50mm f/3.5 Elmax fetched £2,000 at hammer, which gives a single confirmed reference point for what the lens is worth in today's saleroom rather than at retail. With only one tracked sale, buyers in 2026 should treat that figure as indicative of clean, complete examples; condition, originality and matching camera provenance can move the price materially, and rougher copies sell for less.
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 | |
|---|---|---|---|
| Nov 2024 | EUR 2,000 | Leitz Auction | |
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Auction: Leitz Auction 45 (Lot A01267) Title: Elmax/Elmar 3.5/50mm
Description:
Very interesting 5-element lens engraved 'Elmar 1:3.5 F=50mm' (very early Elmar engravings type), assembled from leftover Elmax lens parts, in standardized interchangeable M39 mount, note the inner edges of the front section are curved rather than straight, typical of an Elmax, in good condition, good optics only showing a light haze and minimal cleaning marks on the front element, with both caps. Estimate: EUR 4,000 - EUR 4,500 |
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| Nov 2006 | EUR 10,500 | Leitz Auction | |
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Auction: Leitz Auction 10 (Lot AI_10_15248) Title: I Mod.A Elmax
Description:
early version of the Elmax, technically identically with Anastigmat Leica (e.g. the ratchet), guaranteed original condition without any later modifications, perfectly working, (cleaned by Malcolm Taylor), early and rare brass lens cap, very early matching FODIS rangefinder no.3568 engraved: ‘ D.R.P’ and first meter scale, rare FINAL cable release Estimate: EUR 14,000 - EUR 16,000 |
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