The Leica Elmarit-M 28mm f/2.8 III is a Walter Mandler M-mount wide-angle, the last pre-aspherical 28 Elmarit and a collector favorite for its rendering.
Leica Elmarit-M 28mm f/2.8 III
M mount
The Leica Elmarit-M 28mm f/2.8 III is a M-mount lens for Leica rangefinder cameras. As of August 2026, it sells from €942 used across 9 listings, with a 30-day median of €1,044. Leica price index →
How it compares
Measured against the 36 other 28mm M-mount lenses in the catalogue.
Specification
About this lens
Leica Elmarit-M 28mm f/2.8 III
The third version of the Elmarit-M 28mm is the largest 28mm Elmarit Leica ever produced, a deliberate trade made so the lens would not block the TTL metering cell of cameras such as the M5 and M6 while keeping its optical performance intact [1][2]. It was the work of Walter Mandler and was built mainly at Leitz Canada, carrying the Leica order number 11804[3]. As the last of the pre-aspherical 28mm Elmarit designs before the 1994 aspherical redesign, it occupies a clear position in the lineup and is sought by photographers who prefer an older, less clinical wide-angle look.
The optical formula uses eight elements in six groups, with an eight-blade diaphragm and an aperture range running to f/22. The barrel is black lacquered brass, the filter thread is 49mm, and the lens focuses to 0.7 m, with full rangefinder coupling on the M bayonet. It accepts the dedicated hood 12536, and a separate accessory finder was offered for framing at 28mm.
The lens was produced in both Canada and Germany, and a small number of cosmetic variants exist alongside the standard black finish. It is the earliest 28mm M model that Leica will retrofit with six-bit coding, which can be useful on digital M bodies, though that work is an added cost to factor in when buying.
Optical qualities
Rendering Documented user accounts describe a moderate overall contrast with very good raw resolution but lower edge contrast than later Leica designs, giving the detailed yet non-clinical look that draws many owners to the version III. Color rendition is reported to lean slightly cyan compared with post-1994 Leica lenses.
Digital use On digital M sensors the lens can show faint color cast at the edges, which six-bit coding or manual lens selection helps correct; the effect is reported to be less pronounced on CMOS bodies such as the M10 than on the earlier M9.
History
Development and Launch The version III Elmarit-M 28mm was introduced in 1979 and remained in the catalogue into the 1990s, when it was replaced by the aspherical Elmarit-M 28mm. The design is credited to Walter Mandler, and most examples were assembled at Leitz Canada, with the front engraving reading made in Canada.
Special editions An anniversary edition tied to the Leitz 1913 to 1983 commemoration is recorded, along with ELC versions, but no broad range of factory finishes is widely documented for this model.
Collector Notes Buyers should expect a comparatively large 28mm barrel, which is normal for this version and not a sign of a different lens. The lens uses a 49mm filter thread, a useful identification point that distinguishes it from other 28mm Elmarit versions. Because six-bit coding was not factory applied, a coded example has been retrofitted, and the cost of having Leica perform that work should be considered before purchase. As with any lens of this age, it is worth checking the glass for haze and confirming the made in Canada or German origin against the engravings.
Sources
Where to buy
Prices for Leica Elmarit-M 28mm f/2.8 III
Good time to buy. The lowest listing is 10% below the 30-day average.
Lowest price Click a mark to open that listing · arrow keys to step, Enter to open
Price against condition for 9 listings of Leica Elmarit-M 28mm f/2.8 III, €942 to €1,281, median €1,039. Excellent: 5 at €1,014, €1,039, €1,039, €1,075, €1,126. Good: 1 at €1,128. Unknown: 3 at €942, €943, €1,281. The full table follows.
| Condition | Lowest | Median |
|---|---|---|
| Excellent | €1,014 | €1,039 |
| Good | €1,128 | €1,128 |
| Other | €942 | €943 |
Price history
Over the last 12 weeks the median price for the Leica Elmarit-M 28mm f/2.8 III has risen, ranging from €953 to €1,072 (now €1,044).
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
| Week | Median | Lowest |
|---|---|---|
| Jun 1, 2026 | €1,057 | €995 |
| Jun 8, 2026 | €1,029 | €995 |
| Jun 15, 2026 | €1,057 | €995 |
| Jun 22, 2026 | €1,154 | €1,057 |
| Jun 29, 2026 | €1,154 | €1,057 |
| Jul 6, 2026 | €1,035 | €900 |
| Jul 13, 2026 | €1,114 | €950 |
| Jul 20, 2026 | €1,029 | €948 |
| Jul 27, 2026 | €1,064 | €1,010 |
| Aug 3, 2026 | €1,039 | €1,039 |
| Aug 10, 2026 | €1,038 | €1,038 |
| Aug 17, 2026 | €1,057 | €1,014 |
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 28mm f/2.8 III: frequently asked
How much does the Leica Elmarit-M 28mm f/2.8 III cost?
As of August 2026, the Leica Elmarit-M 28mm f/2.8 III sells from €942 used, with a 30-day median of €1,044, across 9 active listings.
Where can I buy a Leica Elmarit-M 28mm f/2.8 III?
As of August 2026, the Leica Elmarit-M 28mm f/2.8 III is sold by 3 sources (9 listings), from €942 used: all compared cheapest-first on this page.






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