The Leica Elmar 5cm f/2.8 (11612) is a compact collapsible four-element 50mm M-mount lens prized by collectors as the last of Leica's classic Elmar fifties.

Leica Elmar 5cm f/2.8

Leica Elmar 5cm f/2.8

M mount

€319

13 listings · €319–€750 · median €548

checked 15 hours ago

See all 13 listings

The Leica Elmar 5cm f/2.8 is a M-mount lens for Leica rangefinder cameras. As of August 2026, it sells from €319 used across 13 listings, with a 30-day median of €548. Leica price index →

How it compares

Measured against the 73 other 50mm M-mount lenses in the catalogue.

207 g Weight Lighter than 74% of them
f/2.8 Maximum aperture Faster than 10% of them

Specification

Model number(s): 11612
Focal Length: 50mm
Aperture: 𝑓/2.8
Release Year (from): 1958
Diameter: 51 mm
Filter Size: 39 mm (E39)
Length: 40 mm
Minimum Focus Distance: 1m
Elements in Groups: 4/3
Aperture Blades: 15
Mount: M
Material Weight: Metal, 207g
Colors: Silver

About this lens

Leica Elmar 5cm f/2.8

The Elmar 5cm f/2.8 is the faster successor to Leitz's long-running f/3.5 Elmar, and it carries forward the same idea: a small, collapsible standard lens built around a compact four-element design. Offered in M-mount as model number 11612, it pairs a chrome collapsible barrel with the rangefinder-coupled focusing mount of the Leica M system, and it remains one of the smallest 50mm lenses ever made for the camera [1][2].

Optically the lens uses four elements in three groups, a Tessar-type layout that keeps the optical block short and the barrel slim. The lens collapses into the camera body for transport and is pulled out and locked for use, a defining trait of the classic Elmar line that makes it especially pocketable on a Leica M body. Focusing is via the helicoid in the mount and is coupled to the rangefinder, with a minimum focusing distance of one metre, while aperture selection on the early versions is set on a small ring near the front of the lens. The 39 mm filter thread (E39) is shared with many other Leitz standard lenses of the period, simplifying the use of filters and hoods[3].

The f/2.8 Elmar exists in more than one form. The collapsible chrome version from the late 1950s, in both screw mount and M bayonet, is the classic article that collectors associate with the 11612 number; decades later Leica reissued the design as the rigid Elmar-M 50mm f/2.8, a modern multicoated lens with an updated barrel and built-in hood. The two are easy to tell apart in the hand: the early lens collapses and wears a vintage chrome finish, while the later Elmar-M is a fixed-length lens of contemporary build. Buyers should confirm which version they are looking at, since the model numbers and handling differ even though the f/2.8 maximum aperture and 50 mm focal length are shared.


Optical qualities

Rendering As a four-element Tessar-derived design, the f/2.8 Elmar is known for a classic, restrained drawing style rather than the higher-contrast look of Leica's later double-Gauss standard lenses. Users describe sharp central results that improve on stopping down, with the gentle, slightly lower-contrast character typical of the Elmar family, and a small, easily carried package that suits everyday shooting on film and digital M bodies. Detailed, repeatable measurements specific to this exact version are limited in the available sources, so finer claims about distortion, vignetting and flare are best treated as version dependent.


History

Development and Launch The f/2.8 Elmar arrived in the late 1950s as a brighter companion to the venerable f/3.5 Elmar, extending the collapsible standard-lens concept that had defined Leica's compact fifties since the 1930s. It was produced in both Leica screw mount and the then-newer M bayonet, the latter carried as model 11612.

Production Evolution The most significant change in the lens's life was its later revival as the rigid Elmar-M 50mm f/2.8, which replaced the collapsing chrome barrel with a fixed modern mount and contemporary coatings while retaining the compact four-element optical idea.

Special editions No widely documented military, export or rare factory finish variants are commonly cited for the collapsible f/2.8 Elmar in the consulted sources; the main distinction collectors track is between the original collapsible version and the later rigid Elmar-M.

Collector Notes When evaluating an example, verify whether it is the early collapsible chrome lens or the modern rigid Elmar-M, since handling, coatings and model numbers differ. On vintage collapsible samples, check the collapse-and-lock action, the aperture ring, and the glass for haze or cleaning marks, and confirm rangefinder coupling on the intended body. The E39 filter thread makes period-correct filters and hoods easy to source, but originality of caps and hoods is still worth confirming on collector-grade pieces.


Sources

Where to buy

Prices for Leica Elmar 5cm f/2.8

Lowest right now
€319 42% below 30-day median

Good time to buy. The lowest listing is 42% below the 30-day average.

Median · 30d
€548
Available
13 listings · 3 sources
Price against condition for 13 listings€370€556€741Excellent6Good6Fair1median €574€319

Lowest price Click a mark to open that listing · arrow keys to step, Enter to open

Price against condition for 13 listings of Leica Elmar 5cm f/2.8, €319 to €750, median €574. Excellent: 6 at €552, €556, €567, €574, €590, €645. Good: 6 at €458, €458, €643, €750, €750, €750. Fair: 1 at €319. The full table follows.

Lowest & median price by condition for the Leica Elmar 5cm f/2.8
ConditionLowestMedian
Excellent€552€570
Good€458€697
Fair€319€319
Stores
Best price Fair
LEICA (ライカ) Elmar エルマー 5cm/2.8 沈胴 (L39)
Sold by Nisshin Camera
€319 ≈ $344

Price history

Over the last 12 weeks the median price for the Leica Elmar 5cm f/2.8 has risen, ranging from €510 to €548 (now €548).

Weekly price (EUR)
Median: Good or better Lowest: Good or better
€170€271€372€473€574MedianLowest
Jun 1Jun 15Jun 29Jul 13Jul 27Aug 10Aug 17

Weekly price (EUR). Median (Good or better) and lowest (Good or better) across 12 weeks. The full figures follow in the table below.

The figures behind this chart
Weekly median and lowest price
WeekMedianLowest
Jun 1, 2026€510€359
Jun 8, 2026€510€359
Jun 15, 2026€510€359
Jun 22, 2026€514€359
Jun 29, 2026€510€359
Jul 6, 2026€564€359
Jul 13, 2026€510€359
Jul 20, 2026€510€170
Jul 27, 2026€556€366
Aug 3, 2026€552€366
Aug 10, 2026€531€366
Aug 17, 2026€574€458
What these condition grades mean

Every shop grades differently. Leica Classic uses letters, Ffordes uses E++ and E+, German dealers write "Zustand B", Japanese dealers write A−. We map all of them onto the one ladder below. Where a shop states its own grade, we print it under ours.

New
Unused, sold as current stock.Usually the maker's own store or a dealer's new inventory.
Mint
Used, but with no wear we can see described.Leica Classic A · Ffordes M
Excellent
Light wear, glass reported clean.Leica Classic A− and A/B · Ffordes E++ and E+ · Japanese A−
Good
Visible wear from use, optics reported sound.Leica Classic B · "Zustand B"
Fair
Heavy cosmetic wear, or a stated optical fault such as haze, fungus or cleaning marks.Leica Classic B−
Heavily used
Works, but wear or a fault affects using it.Leica Classic C
For parts
Not usable as sold.Leica Classic C− and D
Unknown
The listing said nothing we could grade. We show the seller's own words instead of guessing.

Leica Elmar 5cm f/2.8: frequently asked

How much does the Leica Elmar 5cm f/2.8 cost?

As of August 2026, the Leica Elmar 5cm f/2.8 sells from €319 used, with a 30-day median of €548, across 13 active listings.

Where can I buy a Leica Elmar 5cm f/2.8?

As of August 2026, the Leica Elmar 5cm f/2.8 is sold by 3 sources (13 listings), from €319 used: all compared cheapest-first on this page.

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From €319 13 listings · 3 shops