Leica D-Lux 3 (2006–2008)
A Panasonic LX-2 in a dinner jacket - ten megapixels, a 28-112mm zoom, and a red dot that cost roughly double.
Overview
The D-Lux 3 is the camera Leica didn't build. Announced in the run-up to Photokina 2006 (the research page dates the official announcement to September 14 of that year), it is a rebadged Panasonic LX-2. It shares that camera's sensor, lens design, and core functionality. Leica's own operating instructions are blunt about it in the fine print: Elmarit is a registered trademark of Leica Camera AG, and the rest of the names printed in the manual belong to the companies concerned. Owners know what they're buying. It's a Panasonic with a Leica-spec lens and a Leica-spec price.
That price was real. The D-Lux 3 launched at approximately $600, against a Panasonic sibling that sold for considerably less. The premium bought the lens branding, the body finish, and the badge - and, according to owners, a genuinely good picture in the right conditions. The camera came in black and silver, with B&H product codes 18303 and 18308 respectively, and was manufactured from 2006 to 2008 before being discontinued. It replaced the D-Lux 2, adding a higher 10-megapixel resolution and a larger 2.8-inch 16:9 display.
It is not a rangefinder, or an M-series heir, or anything with a lineage back to Wetzlar's mechanical days. It's a small-sensor compact with a zoom lens and a mode dial, and it should be judged as one. Judged that way, it holds up well in daylight and falls apart in the ways mid-2000s compacts always did.
Key Features
The 28–112mm DC Vario-Elmarit Zoom
The lens is the reason to buy this camera rather than the Panasonic. The LEICA DC VARIO-ELMARIT covers a 28-112mm equivalent range with 4x optical zoom. That's wide enough for interiors and street work, and long enough for a decent portrait crop. The aperture runs from F2.8 at the wide end to F4.9 at full zoom, with the lens stopping down to F8.0 at either extreme. The F2.8 wide-end figure is a full stop faster than most compacts of the era managed, and it's the difference between a usable indoor shot and a smear. The small sensor limits true background separation regardless of aperture, so buyers chasing bokeh should look elsewhere. Buyers chasing a sharp, contrasty 28mm equivalent in a pocket are in the right place.
Optical image stabilization (Leica's O.I.S. branding) is on board, which is unusual at this price and size. It buys back a stop or two in marginal light.
Manual Exposure Control in a Point-and-Shoot Body
This is where the D-Lux 3 separates itself from the disposable end of the compact market. Aperture-priority and shutter-priority modes are both present, along with full manual exposure and RAW capture. That combination was rare in a compact of this size in 2006, and it's the strongest argument for the camera today. The shutter range runs from 1/2000 sec down to 60 seconds. That long end is useful for night work and light trails, and most point-and-shoots of the period simply didn't have it. Exposure compensation spans ±2 EV in 1/3 EV steps. White balance offers Auto, Daylight, Cloudy, Shade, Halogen, Flash, and two custom white set slots.
2.8-Inch 16:9 LCD and Three Aspect Ratios
The rear display is a 2.8-inch 16:9-ratio panel, described in period coverage as bright and responsive for framing and playback, and it's the largest change from the D-Lux 2. The 16:9 native format is a deliberate choice. The camera shoots 16:9, 3:2, and 4:3, and the wide aspect ratio was clearly the intended default. That gives a distinctive look straight out of camera, and it suits the camera's travel-and-street positioning. It also means 4:3 shooters are cropping into the sensor's usable area rather than using it fully, which is worth knowing before buying.
The Body
The D-Lux 3 is a small camera, and the design is restrained in a way that later Leica compacts drifted away from. The body is described as beautifully minimalist, with a clean front plate, understated branding, and a layout that puts access ahead of ornament. The controls are where the hands expect them. There's no viewfinder, so the LCD is the whole shooting experience. That's fine in daylight and a real limitation in bright sun.
Historical Context
The D-Lux 3 sits at the intersection of two Leica problems: the company needed digital products it couldn't yet engineer alone, and it needed price points below the M system. The Panasonic partnership solved both. Panasonic brought the sensor, the electronics, and the manufacturing. Leica brought the lens specification, the color pipeline tuning, and the name. The arrangement produced a lineage of compact cameras that put Leica branding in front of buyers who would never spend M-series money.
Leica's own materials never claimed the D-Lux 3 was a Leica-built camera, and the manual's trademark notices make the arrangement plain. The D-Lux 3 is a Panasonic LX-2 with Leica glass and Leica tuning, sold for a Leica price, and it was discontinued in 2008 after a two-year run.
Collectibility & Value
Original retail was approximately $600, and the camera has not become a collectible the way the M-series bodies have. Used examples have been listed in the $369-$459 range at various points, but the market is thin and inconsistent. The eBay completed-sales data tells a more sober story: recent sold prices have run from about $191 to $375, with a median around $261 across 72 completed sales in a twelve-month window. Working examples with original accessories and the leather case fetch the top of that range. Body-only listings sit at the bottom. The Leica badge adds value, but not much.
The bigger issue is reliability. D-Lux 3 owners frequently report startup errors and unresponsive screens that prevent the camera from capturing at all, and forum threads document long-term failures serious enough that one user's camera sat non-functional for over three months. Reddit troubleshooting threads continue, which suggests working units may be harder to find than the volume of listings implies. The proprietary lithium-ion battery is a second long-term problem. Cells degrade, and replacements get scarcer every year. Buyers should assume any D-Lux 3 they purchase may need service, and price accordingly.
On performance, the criticism is consistent and specific. CNET's contemporary review found the camera sluggish and the high-ISO output noisy, and a long-term owner's complaint about writing speed, slow with multiple cards and formats, matches the general reputation. The praise is consistent too. At ISO 100 the D-Lux 3 was judged sharper than a contemporaneous Ricoh GX100 by one forum shooter, and the general assessment from small-sensor enthusiasts is that the D-Lux 2 and 3, alongside their Panasonic counterparts, are among the genuinely great compact small-sensor cameras of the era. In bright daylight the Leica-tuned lens and CCD pipeline produce camera-ready color and contrast, and RAW files give reasonable latitude for highlight recovery and shadow lifting.
Market Value
┌──────────────────────────────────────────────────────────────────────────┐ │ LEICA D-LUX 3 Nov 2026 │ ├──────────────────────────────────────────────────────────────────────────┤ │ High $402 Latest $282 │ │ Median $261 Trend — │ │ Low $128 Volume ~18/mo │ ├──────────────────────────────────────────────────────────────────────────┤ │ $500 ┤ │ │ │ │ │ │ . . . . . │ │ $329 ┤ . . . .. . . . . . . │ │ │ . . . .. . . . . . . .│ │ │ . . . . . . . . . . .. .. . . . .│ │ │... . . . . .. . . . .. │ │ $100 ┤ . . │ │ ├─────────────────────────────────────────────────────────────────│ │ vol │▄▄▂ ▂ ▄ ▂ ▆ ▄ ▄▂▄▂▆▄▄▄▆▂ ▂ ▂ ▄▂▄ ▂▄ ▄ ▂ █▂▂▄ ▄▄▄ ▂▂▂▄ █▂▄│ │ └─────────────────────────────────────────────────────────────────│ │ 2026-04 2026-06 2026-08│ └──────────────────────────────────────────────────────────────────────────┘
eBay completed sales. Excludes accessories, parts, and non-working units. Hover points for details.
eBay Listings
Recently sold on eBay: $191–$375 (median $261, based on 72 completed sales, past 12 months)
As an eBay Partner, we earn from qualifying purchases. This helps support our independent vintage technology research.