The Leica Elmarit-M 135mm f/2.8 II with OVU is an M-mount telephoto whose built-in magnifying goggles aid rangefinder focusing, a distinctive collector lens.

Elmarit-M 135mm f/2.8 II with OVU

Leica Elmarit-M 135mm f/2.8 II with OVU

M mount

€370

3 listings · €370–€644 · median €479

checked 19 days ago

See all 3 listings

The Leica Elmarit-M 135mm f/2.8 II with OVU is a M-mount lens for Leica rangefinder cameras. As of August 2026, it sells from €370 used across 3 listings, with a 30-day median of €479. Leica price index →

How it compares

Measured against the 8 other 135mm M-mount lenses in the catalogue.

735 g Weight Lighter than 0% of them
f/2.8 Maximum aperture Faster than 75% of them

Specification

Model number(s): 11828, 11829
Focal Length: 135mm
Aperture: 𝑓/2.8
Release Year (from): 1974
Diameter: 66 mm
Filter Size: 55 mm (E55)
Length: 114 mm
Minimum Focus Distance: 1.5m
Elements in Groups: 5/4
Aperture Blades: 9
Mount: M
Material Weight: Aluminum, 735g
Colors: Black

About this lens

Leica Elmarit-M 135mm f/2.8 II with OVU

The most recognizable feature of the Elmarit-M 135mm f/2.8 is not its optics but the pair of magnifying eyes, or goggles, fixed to the front of the rangefinder. Because a long, relatively fast lens is hard to focus accurately on a 35mm rangefinder, Leitz built in an optical attachment that adds extra magnification to the finder, converting the camera's 90mm bright-line frame into a 135mm view and improving focusing precision in the process [1]. The trade-off is a slightly darkened finder image and a greater tendency for the rangefinder patch to flare, but the system makes a 135mm lens practical on an M body. The suffix OVU refers to this goggled configuration, which carries the maximum aperture of f/2.8, a 55mm filter thread, nine aperture blades, and a minimum focusing distance of 1.5 m in a five-element, four-group design.

In hand the lens is large and heavy at 735 g, a consequence of its solid metal construction and the integral finder optics; users describe the combined camera-and-lens package as notably bulky to carry and steady. The barrel measures roughly 114 mm long and 66 mm in diameter. It is rangefinder coupled through the standard M bayonet and is not six-bit coded. Focusing is performed in the usual way through the goggle-augmented finder, and the calibration of focus is set by adjustment screws near the goggle objectives, so a soft-looking sample can sometimes be corrected by recalibration rather than indicating an optical fault.

This is the second optical version of the f/2.8 design. The later examples accept E55 screw-in filters, whereas earlier production used a Series VII filter arrangement, a useful point of identification between iterations. The optics of this version are reported to be shared with the equivalent Leitz lens made for the Leica R single-lens-reflex system. The lens was produced in black finish and recorded under model numbers 11828 and 11829.


Optical qualities

Rendering Detailed published testing of this lens is scarce, and much of the available commentary is anecdotal. The lens is generally regarded as sharp, in keeping with its telephoto class, and is described as performing well from wide open without needing to be stopped down for resolution, with critical focus being the main determinant of apparent sharpness.

Flare resistance Flare is a noted weakness. A sufficiently bright light source in or near the frame can produce pronounced veiling flare that lowers contrast significantly, though it does not necessarily ruin the image.

Digital use On modern M cameras the goggled design has compatibility limits. It functions on the digital M bodies, although on an unmodified M8 the frame lines are reported as not fully accurate but still usable, and the goggles do not align correctly with the finder windows of some third-party rangefinders such as the Epson R-D1 and Voigtländer Bessa series.


History

Development and Launch The Elmarit-M 135mm f/2.8 occupied the long-telephoto position in the M lens line at a time when Leitz offered a range of 135mm options, including slower designs. To make the focal length usable on the rangefinder, Leitz adopted the built-in magnifying goggles that distinguish this lens, giving photographers a fast 135mm with finder magnification suited to portraiture and other longer-distance work.

Collector Notes Because most M photographers favored the slower or more compact 135mm and 90mm alternatives, this lens is comparatively uncommon among M users despite being relatively affordable, which adds to its appeal for collectors. When evaluating an example, the filter mount is a quick way to separate the later E55 version from the earlier Series VII type, and buyers should be aware that focus accuracy depends on correct goggle calibration, since a misadjusted sample can appear soft even when the optics are fine. The goggles should be checked for clarity and intact coatings, and intended camera compatibility should be confirmed in advance given the known limitations with several non-Leica and early digital bodies.


Sources

Where to buy

Prices for Leica Elmarit-M 135mm f/2.8 II with OVU

Lowest right now
€370 23% below 30-day median

Good time to buy. The lowest listing is 23% below the 30-day average.

Median · 30d
€479
Available
3 listings · 2 sources
Price against condition for 3 listings€370€463€556€648Excellent1Good1Used1median €487€370

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

Price against condition for 3 listings of Leica Elmarit-M 135mm f/2.8 II with OVU, €370 to €644, median €487. Excellent: 1 at €370. Good: 1 at €644. Used: 1 at €487. The full table follows.

Lowest & median price by condition for the Leica Elmarit-M 135mm f/2.8 II with OVU
ConditionLowestMedian
Excellent€370€370
Good€644€644
Other€487€487
Stores
Best price Excellent
Leica Elmarit 135mm f2.8 Leitz Canada Telephoto Lens for M mount
Sold by Cardinal Camera Used
€370 ≈ $400

Price history

Over the last 10 weeks the median price for the Leica Elmarit-M 135mm f/2.8 II with OVU has risen, ranging from €370 to €511 (now €479).

Weekly price (EUR)
Median: Good or better Lowest: Good or better
€370€435€499€564€629MedianLowest
Jun 1Jun 15Jun 29Jul 13Jul 27Aug 3

Weekly price (EUR). Median (Good or better) and lowest (Good or better) across 10 weeks. The full figures follow in the table below.

The figures behind this chart
Weekly median and lowest price
WeekMedianLowest
Jun 1, 2026€422Unknown
Jun 8, 2026€370Unknown
Jun 15, 2026€370Unknown
Jun 22, 2026€523€417
Jun 29, 2026€523€417
Jul 6, 2026€629€629
Jul 13, 2026€629€629
Jul 20, 2026€629€629
Jul 27, 2026€629€629
Aug 3, 2026€629€629
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 Elmarit-M 135mm f/2.8 II with OVU: frequently asked

How much does the Leica Elmarit-M 135mm f/2.8 II with OVU cost?

As of August 2026, the Leica Elmarit-M 135mm f/2.8 II with OVU sells from €370 used, with a 30-day median of €479, across 3 active listings.

Where can I buy a Leica Elmarit-M 135mm f/2.8 II with OVU?

As of August 2026, the Leica Elmarit-M 135mm f/2.8 II with OVU is sold by 2 sources (3 listings), from €370 used: all compared cheapest-first on this page.

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From €370 3 listings · 2 shops