The Leica Noctilux-M 50mm f/1.2 ASPH is a faithful M-mount reissue of the 1966 f/1.2 Noctilux, prized by collectors for vintage rendering in a compact body.

Noctilux-M 50mm F/1.2 ASPH

Leica Noctilux-M 50mm f/1.2 ASPH

M mount

€4,258

26 listings · €4,258–€8,953 · median €5,856

checked 6 days ago

See all 26 listings

The Leica Noctilux-M 50mm f/1.2 ASPH is a M-mount lens for Leica rangefinder cameras. As of August 2026, it sells from €4,258 used across 26 listings, with a 30-day median of €5,856. Leica price index →

How it compares

Measured against the 74 other 50mm M-mount lenses in the catalogue.

405 g Weight Lighter than 21% of them
f/1.2 Maximum aperture Faster than 70% of them

Specification

Model number(s): 11686
Focal Length: 50mm
Aperture: 𝑓/1.2
Release Year (from): 2021
Diameter: 61 mm
Filter Size: 49 mm (E49)
Length: 52 mm
Minimum Focus Distance: 1m
Elements in Groups: 6/4
Aperture Blades: 16
Mount: M
Six bit code:
Material Weight: Metal, 405g
Colors: Black

About this lens

Leica Noctilux-M 50mm f/1.2 ASPH

This lens is a modern reissue of the original 50mm Noctilux of 1966, the optic that introduced the Noctilux name and that historians credit as the first serially produced lens to use aspherical elements [1][2]. Leica brought it back in 2021 as the third entry in its Classics Range, following revivals of the Summaron-M 28mm f/5.6 of 1955 and the Thambar-M 90mm f/2.2 of 1935. The appeal is squarely about heritage and rendering rather than maximum sharpness: the original was famous for a distinctive look wide open, and Leica states the reissue keeps those characteristics by adhering very closely to the source design. Among current Noctilux options it is also the smallest and lightest, a deliberate contrast to the larger f/1 and f/0.95 models that succeeded it.

The optical layout retains the classic configuration of six elements in four groups with two aspherical surfaces, the formula that made the 1966 lens so unusual to manufacture at the time. Leica says it made only minimal changes, adapting the original calculation to glass types and production methods available today so that imaging results are nearly identical. It is a manual-focus M-bayonet lens with full rangefinder coupling, a sixteen-blade aperture for a rounded opening, a one-metre minimum focus distance, and a 49mm front filter thread, keeping the barrel compact for an f/1.2 standard lens. The two aspherical elements were originally adopted to control spherical aberration at full aperture, which contributes to the lens's signature transition between sharp and out-of-focus areas.

At launch the lens appeared in two finishes. The standard black anodized version, model number 11686, is a regular catalogue item and was offered at 7,695 US dollars. A silver chrome special edition limited to 100 units was sold only through Leica Stores, with a brass barrel, a front ring engraved LEITZ WETZLAR rather than the contemporary LEICA marking, and vintage-style packaging echoing the 1966 release; it carried a much higher price of 16,395 US dollars. The colour pairing references Leica history, since the original Noctilux marked the company's transition from silver to black-anodized lenses.


Optical qualities

Rendering The defining trait is its character at and near full aperture. Leica and reviewers describe a soft, almost dreamlike look wide open with smooth, pleasing bokeh, an aesthetic the company calls the lens's visual signature. The two aspherical elements were used specifically to tame spherical aberration at f/1.2, which shapes both the rendering and the way focus falls off.

Sharpness The lens is intentionally imperfect at maximum aperture, which is part of its appeal, but it tightens up considerably when stopped down. By around f/2.8 it is reported to deliver sharp results that meet modern digital expectations.


History

Development and Launch The first Noctilux, a 50mm f/1.2, was introduced in 1966 and produced until 1975. It offered the fastest aperture of any Leica lens of its day and was, by accounts at the time, the first serially produced lens in the world to employ two aspherical elements, a difficult and costly approach chosen to reduce spherical aberration at full aperture. Leica reissued the design in January 2021, presenting it as a landmark revival within the Classics Range and emphasising that the goal was usable modern performance rather than pure nostalgia.

Special editions Beyond the standard black anodized model, the only widely documented factory variant at launch is the silver chrome special edition of 100 units, distinguished by its brass barrel, LEITZ WETZLAR engraving, and 1966-style packaging, and sold exclusively through Leica Stores. Leica has since shown the reissued Noctilux-M 50mm f/1.2 in further finish treatments tied to camera releases, but the black and the limited silver remain the principal versions associated with the relaunch.

Collector Notes The original 1966 to 1975 production is itself a sought-after collector item; Leica records the original black-finish serial run at 1,757 units and notes that roughly five silver prototypes made before serial production are among the most coveted and expensive M lenses in existence, which buyers should not confuse with the modern reissue. For the 2021 lens, the LEITZ WETZLAR front ring identifies the limited silver edition, while standard black examples carry the contemporary LEICA marking and model number 11686. One point worth verifying is six-bit coding: LeicaLensList records this reissue as not six-bit coded, whereas at least one launch-era spec listing described the M bayonet as having six-bit encoding, so prospective buyers may wish to confirm the coding on a specific copy [3].


Sources

Where to buy

Prices for Leica Noctilux-M 50mm f/1.2 ASPH

Lowest right now
€4,258 27% below 30-day median

Good time to buy. The lowest listing is 27% below the 30-day average.

Median · 30d
€5,856
Available
26 listings · 4 sources
Price against condition for 26 listings€5,556€7,407€9,259New8Mint1Excellent13Good1Unknown3median €7,430€4,258

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

Price against condition for 26 listings of Leica Noctilux-M 50mm f/1.2 ASPH, €4,258 to €8,953, median €7,430. New: 8 at €7,483, €8,218, €8,232, €8,241, €8,569, €8,578, €8,585, €8,953. Mint: 1 at €7,492. Excellent: 13 at €4,580, €4,934, €5,052, €5,734, €5,767, €5,892, €5,995, €6,941, €7,181, €7,283, €7,396, €7,464, €7,824. Good: 1 at €4,258. Unknown: 3 at €6,270, €7,501, €8,135. The full table follows.

Lowest & median price by condition for the Leica Noctilux-M 50mm f/1.2 ASPH
ConditionLowestMedian
New€7,483€8,405
Mint€7,492€7,492
Excellent€4,580€5,995
Good€4,258€4,258
Other€6,270€7,501
Stores
Best price Good
Leica Noctilux-M 50mm F1.2 ASPH. Lens Black 11686 Reissue
Sold by Cardinal Camera Used
€4,258 ≈ $4,599

Price history

Over the last 12 weeks the median price for the Leica Noctilux-M 50mm f/1.2 ASPH has fallen, ranging from €5,450 to €7,050 (now €5,856).

Weekly price (EUR)
Median: Good or better Lowest: Good or better
€4,258€5,029€5,799€6,569€7,339MedianLowest
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€6,500€5,211
Jun 8, 2026€6,961€5,206
Jun 15, 2026€6,965€5,309
Jun 22, 2026€6,930€5,328
Jun 29, 2026€6,931€5,369
Jul 6, 2026€7,303€5,662
Jul 13, 2026€7,231€5,650
Jul 20, 2026€7,213€5,636
Jul 27, 2026€7,338€5,689
Aug 3, 2026€6,558€4,580
Aug 10, 2026€5,886€4,578
Aug 17, 2026€7,339€4,258
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 Noctilux-M 50mm f/1.2 ASPH: frequently asked

How much does the Leica Noctilux-M 50mm f/1.2 ASPH cost?

As of August 2026, the Leica Noctilux-M 50mm f/1.2 ASPH sells from €4,258 used, with a 30-day median of €5,856, across 26 active listings.

Where can I buy a Leica Noctilux-M 50mm f/1.2 ASPH?

As of August 2026, the Leica Noctilux-M 50mm f/1.2 ASPH is sold by 4 sources (26 listings), from €4,258 used: all compared cheapest-first on this page.

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From €4,258 26 listings · 4 shops