Zeiss Ikon ZM 35mm Rangefinder Review – Everything a Rangefinder Should Be

Zeiss Ikon ZM 35mm Rangefinder Review – Everything a Rangefinder Should Be

2000 1125 Dustin Vaughn-Luma

A few months ago, I sang the praises of the Zeiss C Biogon 35/2.8 M mount lens. In that earlier review, I spoke to my wife’s sixth sense and how she dealt me a whopper of an anniversary surprise in that glorious lens. I also mentioned that the lens came packed with an equally stunning Zeiss Ikon ZM 35mm rangefinder camera. I’ve been aiming to write a piece on the camera for some time, but wanted to wait a bit in order to truly familiarize myself with the camera that some consider to be the pinnacle of M mount rangefinder technology.

It’s a camera that garners a lot of window shoppers, but few of these oglers end up buying. And that’s a shame. Because the ZM is a camera that gets many things right, and delivers a shooting experience unlike anything else in my arsenal. After using this beautiful camera extensively for over a year, and experiencing many highs (and quite possibly the lowest of lows), it’s time to share everything I’ve come to know about the Zeiss Ikon ZM. Is it a Leica-killer? Of course not. Will it go toe-to-toe with any film M? It sure will. In fact, it refines the rangefinder a bit further and pushes things forward, where Leica lets off the gas.

This excellence noted, it’s also fair to say that the camera seems to be underrated amongst the average rangefinder fan, and in certain circles it’s dismissed outright due to its reliance on battery power to operate. Though many reliable sources praise it highly, its rarity leaves a lot to interpretation for those who’ve never held one. And less-than-reliable user reviews can lead to more questions than answers for those attempting to discern whether or not to buy. So let’s try to dispel some myths and clear the air.

Old World Heritage

The “Zeiss Ikon” namesake is undoubtedly one of the most prestigious in photographic history. Its origins date back to the mid-1920s when Carl Zeiss’ capital and the merger of four smaller companies (Contessa-Nettel, Ica, Goerz, and Ernemann) signaled Zeiss Ikon’s humble beginning. The history is rather long and convoluted, but by the beginning of WWII, Zeiss Ikon had established itself as the market leader in 8mm movie cameras. After the war, the company was split across East and West Germany, and later reformed in West Germany. In the mid-1960s, ZI merged with Voigtlander (already under Zeiss’ control), and to the camera world’s dismay, ceased all camera production in 1972. The remaining product know-how and equipment was used towards Contax and Yashica brands alike.

Though Zeiss Ikon as a company is no more, Carl Zeiss AG attempted to revive the brand in 2004 with the release of the camera we’re talking about today. Designed in Germany by Zeiss and manufactured in Japan by Cosina from 2006-2012, the ZM was made in black and silver and was intended to be paired with Zeiss’ gorgeous M mount ZM lens line. It also works fantastically with any M mount lens. At its core, it’s a well-refined shooters machine that takes decades of rangefinder trial and error and rolls it up into a elegant and near perfectly designed package.

In The Hands

One thing that becomes immediately clear when first laying hands on this camera is how well-balanced and lightweight it feels. One might initially feel a bit disappointed to know that many of the ZM’s internals are made of lighter weight metals and plastics; and for a camera that commands an equivalent price to the likes of the M6 (which I advise not to make a physical comparison to), it may almost feel like a let down in some ways. I can assure you, however, that its lack of heft is one of its greatest strengths.

At the heart of the ZM’s existence is a philosophy, a mindset that embodies a desire to follow and build upon great rangefinder design. Instead of stubbornly chaining itself to tradition, it aims to follow in the footsteps of innovators like Minolta (RIP), whose CLE reigned supreme for nearly two decades as the world’s most advanced 35mm rangefinder. And while some of us feel the CLE might be the best rangefinder camera around, the ZM may actually be better. That’s because it not only borrows many of the CLE’s advancements, but further builds upon them in a graceful way.

It offers full manual mode with meter assistance, aperture-priority auto-exposure, plus exposure compensation, and the biggest and brightest viewfinder of any rangefinder around. All in a tight, refined package. For a manual focus rangefinder to offer this combination of shooting modes, and (gasp) semi-auto shooting is sometimes seen as heretical. After all, the masters and their Ms didn’t need auto-exposure – why should we? But truth be told, most pro shooters prefer some degree of automation. More mental energy to focus on the craft of photography, the stuff that matters.

That Viewfinder

Rangefinder fans who haven’t shot the ZM have most likely heard the tales of its wonderfully large and bright viewfinder. If there is one feature of this machine that it should be judged by, this is it. It stands alone, unrivaled by any M body before it, and to this day is the most beautiful viewfinder on any camera, hands down. Shutter speeds are perfectly placed and illuminated upon meter activation in a vertical fashion along the left edge of the finder. Frame-lines possess minimal stroke yet are wonderfully contrasted against the world in front of them. The 35mm and 50mm lines stand alone when respective focal length lenses are mounted, and the 28mm and 85mm lines share space when either of those lengths are paired to the body. Nice to see Zeiss isolating 35mm and 50mm lines for the two most popular focal lengths.

The .74x magnification lends itself particularly well to 35mm lens shooters as it leaves just enough of a border outside the frame for subjects entering the space. 28mm can feel a bit tight at times, but isn’t so tight that the eye needs to hunt. For those requiring eye relief, the ZM’s circular finder bezel conveniently adapts Nikon diopters; readily available new at B&H.

While this finder’s accolades are well-warranted, there are two characteristics that I consider minor oversights. Because the finder is so large, the eye has a bit of room to move, and the rangefinder patch, which is well contrasted and large in its own right, can suddenly vanish from sight. Some may find this annoying when trying to nail focus on the move, but I don’t see it as a major issue since the majority of my shooting is done via zone focus anyway. Second, the LED shutter speed illumination can seem non-existent in bright light. If you’re the type of shooter who is heavily meter reliant and shoots on manual, then this may be something to take into consideration. If you’re a seasoned shooter and know your light, then this won’t matter much.


Depending on how you look at it, the ZM’s electronically controlled, metal, vertically-traveling focal plane shutter can be either a major strength or its greatest weakness. As a strength, metal shutters allow for faster shutter speeds and greater resilience. The ZM boasts a top shutter speed of 1/2000th of a second, which lends itself well to my shooting style. I’m most often exposing 400 ISO speed film at 800 ISO, and that extra shutter stop allows me to keep my lenses at my favorite aperture (f/8) in bright daylight; which for me, is a perfect balance of rendering and sharpness. In semi-auto mode, the ZM will meter down to 8 seconds, but keep in mind that the meter will display at 1 if the shutter speed is calculated between 1 and 8 seconds. Additionally, auto mode allows for heavenly stepless shutter speeds accurate to 1/12th of a second.

On the downside, metal shutters are noisier than their cloth counterparts. Certainly not a favorable characteristic when shooting in environments where keeping a low profile is key. In the case of the ZM, the shutter noise is slightly louder than any M, CL or CLE, but not by much. As a matter of opinion, I find the ZM’s shutter sound quite satisfying. If I were forced to describe it, it might sound like a gratifying thwick versus Leica’s thuck.

Analog camera owners battle their fair share of anxiety around losing their beloved machines to technical malfunctions, and the ZM makes me no less nervous. This is an expensive, complicated machine. The aforementioned weakness manifested itself in the form of a nightmare for me earlier this year when the shutter of my ZM snapped in half. I can’t recall doing anything out of the ordinary or even treating my camera any more aggressively than I typically do. It just snapped mid-roll, and that was all she wrote.

As I sat there in disbelief, a very expensive brick in my hands, I remember thinking that I needed to do whatever it took to get the camera fixed, because, well, it’s worth it. Selling it may have salvaged half of what it cost me, which was equivalent to what Zeiss quoted me to fix it. Furthermore, its sentimental value outweighs any replacement value I could place on it, so off to Germany it went. Eight weeks later, I had a brand new ZM in my hands. Zeiss replaced the entire shutter mechanism, and performed a complete overhaul on the camera; including a fresh vulcanite wrap, rangefinder alignment, and a new body cap. Knowing that I can still count on Zeiss for service definitely gives me the warm and fuzzies.

Additional Benefits

The ZM boasts a very well damped film advance coupled with a rather short throw. It allows quick shots to be rattled off without fear of a missed wind and feels quite controlled due to the knurled tip on the advance. Some claim that the advance can feel “flimsy,” “loose,” or “cheap,” and while I wouldn’t use any of those adjectives to describe it, I can say that it does find itself in the runner-up position when compared to both its Wetzlar counterparts and the CLE. Even with the recent Zeiss overhaul, the ever so slight bit of vertical play in the advance appears to be intended.

Loading film is about as easy as it gets with the ZM. A practical swing back film bay door (with film cassette window) makes cassette swaps familiar and quick, and always knowing which film I have loaded is a welcome reminder. The rewind knob sits at the bottom of the camera, which I love. Its recessed design allows the camera to play nicely on flat surfaces, and the crank is easy to access when needed, enabling a smooth and clutter-free top plate.

The top plate houses the all-in-one dial controlling ISO, shutter speed, and exposure compensation. Like the CLE, all three controls fit nicely into a neat little disk of goodness. Adjustments are easy enough to make on the fly due to the knurled edge of the dial sitting flush against the top plate, and fall into its detents with satisfying clicks. The dial can be moved much easier than can be done on the Voigtlander Bessa line (which typically require two fingers), and rotated in a 360 degree motion. There is no dial lock to depress either, which makes finding the appropriate setting much quicker. ISO control is performed via a familiar “lift and turn” movement with a range of 25 to 3200 and common speeds of 100 and 400 highlighted in red.

Finishing off the top plate is a standard hot shoe for flash (the ZM does not have TTL flash), a standard threaded shutter release, and shutter lock. As someone who has had their fair share of “accidental black out bag shots” I have come to appreciate release locks on any camera.

One of the more widely discussed features of the ZM is the the position and functionality of the exposure lock button. It is binary by design, which means that I’m not accidentally tripping the shutter when trying to lock my exposure (as can be the case with integrated AE lock/shutter release button combos). The placement of the button, however, could have been better located a bit off center to the right so that smaller hands and thumbs aren’t required to stretch as far to access the feature. I think there are split camps on this one, but as someone who does human factors for a living, I can appreciate the adherence to good design principles.

Rangefinder base-length

I’d like to take a moment to encourage the camera world to stop worrying about rangefinder base-length. Yes, there are rangefinders with short base-lengths, like the Leitz Minolta CL, which makes nailing focus wide open a real chore. That is a fact. It is also fact that the ZM’s base-length is best in class (75mm base-length x .74 finder magnification = 55.5mm effective base-length). Ultimately, if you are worried about missed focus wide open with fast glass, your chances of missing the mark are greatly decreased with the ZM. In practice, the mathematics mean diddly. It’s the ZM’s massive rangefinder patch and bright finder that lend themselves well to focusing precision.


In my experience, camera accessories tend to make their way to the bottom of a drawer or to the back of the closet; never to be seen again. But the optional hand grip for the ZM compliments it quite well, and is one add-on worth consideration. It doesn’t add much weight to the camera, and as expected, only compliments the already thoughtful ergonomics. I typically walk the streets with the ZM in hand down by my leg, the strap wrapped around my wrist a few times to keep it from an ugly sidewalk death. The grip is just what I need to add a bit more comfort in that environment.

Practical Advice

One of the greatest points of contention when deciding on an analog camera is whether to choose a mechanical or electronic machine. I find this debate exhausting and unnecessary because at the end of the day, it really doesn’t matter. Mechanical cameras fail with the same rate as electronic cameras do. The ultimate lesson to be learned with an electronic camera is to bring an extra set of batteries with you at all times. This isn’t difficult.

Furthermore, I’ve had numerous mechanical cameras fail on me in the field. This is the only electronic camera I’ve ever owned that let me down, and the failure point was ironically mechanical. It can happen to any camera at any time, so I encourage anyone on the fence about this machine not to place that much negative emphasis on its electronic circuitry. I think it’s a topic that gets tossed around forums irresponsibly, and casts an unnecessary shadow of doubt on some of the finest photographic tools in existence.

The Takeaway

Anyone making the decision to find themselves a premium M mount rangefinder has a lot to consider. A large part of that consideration comes in the way of holding and shooting these tools directly, but I recognize that this may be difficult; especially considering the rarity of a camera like the ZM. I’d also encourage anyone reading about my personal experience with this camera to not be dismayed. Remember, rare disasters can strike at any time – or never. The good news is that the ZM is not only a modern rangefinder (which means even the oldest copies are still relatively new), but can still be serviced professionally by Zeiss (or any competent repair person for that matter). All parts can be ordered directly from Zeiss, so the idea of a ZM living the life of a doorstop or paperweight (at least for the time being) is thankfully out of mind.

Is it the best M mount rangefinder ever made? That’s tough to say. Primarily because that’s a ridiculous question to begin with. Every camera caters to different shooters in different ways. In use, I can say that it is without a doubt the most advanced and well thought out 35mm rangefinder design I’ve ever owned. Everything from the camera’s balance in the hand, to the compatibility with every M mount lens, to its modern conveniences make it an absolute joy to use. It puts nothing in the way of the shooter’s vision.

Ultimately, if you’re looking for a premium 35mm M mount rangefinder with a best in class viewfinder, aperture-priority, and marginal advantages over any Leica M, then it’s worth your consideration. I like to imagine the Zeiss engineers took everything great about the CLE, considered the repetitious design flaws of every Leica M body, and produced a camera that does the Zeiss Ikon heritage justice. Yes, it’s that good.

Oh, and if you’re on a budget, just buy a CLE.

Want your own Zeiss Ikon ZM?

Buy it on eBay

Buy it from B&H Photo

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Dustin Vaughn-Luma

An experience designer, freelance photographer, and competitive cyclist living in San Jose, California with his wife, three sons, and neurotic bernese mountain dog. The majority of his personal work is shot on 35mm and 120 film, and is developed and scanned at home.

All stories by:Dustin Vaughn-Luma
  • I had an absolutely amazing time shooting one of these while visiting a friend in Rotterdam, shot some of my favorite pictures ever on it. Spectacular piece of kit.

  • Great to read a review about this rangefinder! I have both a Minolta CLE and a Konica Hexar RF as m-mount rangefinders and I’m tempted by the Zeiss Ikon indeed… but I fear that it would not add so much more to what I achieve with those 2 I already have…

    • Appreciate the comment, Stephane. While I am partial to the comprehensive features of the ikon, I’m afraid I’d have to agree with you. Both the Hexar and CLE are wonderful cameras. In fact, my CLE has seen a lot of use lately 🙂

      • Gerard Oldenbeuving May 15, 2018 at 1:28 am

        Dear Dustin
        thank you for some really great reviews. (Have discovered your site not that long ago.)They are a joy to read.
        Lately I am getting “a bit” tired of the whole digital business! (Colour especially !)
        What camera has your preference? The Zeiss, the CLE or the Konica? I can get my hands on an absolute mint Konica.(Well, its brand-new in the box with a 50mm)
        A Leica CL is my camera at the moment (with the 18mm)
        Thank you in advance!

  • I had a Hexar RF and tried a ZI. I preferred the Hexar RF and did not buy the ZI. This was mostly because, as bespectacled shooter, the Hexar RF finder was better to view for me (because if its .6 enlargement vs .74 is the ZI).

    But both are wonderful camera’s!

    • Comically, I had a Hexar RF in hand, checking out at the B&H used department last year, when the sales clerk told me that the camera I was about to pay him for was no longer available (someone had snatched it up online a few minutes before). While bummed, I kept telling myself it was for the best. And even though I ended up with the ZM instead, I still can’t help but think about how awesome that Hexar felt. A truly wonderful camera.

  • Nice write up Dustin with some sweet shots. I really appreciate you being candid about the issues that you had, and being able to send it to Zeiss to get fixed. I did not know they offered that service. So many ‘reviewers’ hide issues which really is not helpful to the readers.
    Is there a general address/how did you know who to contact? Would it be rude of me to ask how much that cost? In the spirit of sharing info, I bought a beautiful Leica M5 a few years back (one of my favourite 35mm RF cameras), that shortly needed a repair to the RF beam splitter unit as out of the blue it had delaminated. That’s from age and pretty much will happen to all of them due to the type of balsam glue Leica used back then. The repair cost about $500.. Add that to the cost of the mint camera! And the CLA that I had paid for previously… But it was worth it to me, as a new Leica MP costs $4500, a used one about $3000, and I prefer this camera as it offers so much more (spot meter, full exposure info in the VF, better rewind etc).
    I ask all this because I am really tempted to try a ZM and would like to know my options. I already tried to the Voigtlander Bessa R3A version, which didn’t really jive with me.

    Kind regards

    • Could you maybe elaborate why the Voigtlander did not jive with you, Huss?

      • It just didn’t feel good in my hands, it was really hard to see the shutter speed readouts unless your eye was perfectly positioned. The rewind mechanism felt weirdly complicated in design (and perhaps fragile) as it seemed to have far more parts than necessary. The shutter felt ‘clanky’ when fired if that makes any sense. One of the biggest peeves I had was the position of the strap lugs. They are in such a spot that with most lenses the camera wanted to point upwards at the sky while hanging around your neck! I have no idea how that got through the design process, and believe me I’m not the only one that was bothered by it.
        What I really liked about it was the manual setting of the finder frames. This means that you only need one LTM-M mount adapter and can use it for any focal length LTM lens that you have as there is no auto indexing. With my current M cameras, I need specific adapters for my 28, 35, 40 and 50mm LTM mount lenses! With the Bessa, doesn’t matter so I only needed one.
        To be fair to it, it was a much cheaper camera than a Leica or ZM, but so is the Minolta CLE, and the CLE feels jewel-like in comparison.

    • Thanks, Huss. I contacted Zeiss directly via their website (which can be difficult to navigate through).

      This is the link to any non-warranty repair: https://www.zeiss.com/camera-lenses/us/service/repairs/photo-lenses/non-warranty-repair.html

      It’s misleading because it doesn’t mention anything about the Ikon ZM; however, as you begin filling out the form for a quote, there is an option to select “zeiss ikon zm”. The support team is extremely friendly and prompt.

      The total repair cost (including shipping) was about $630. As was the case with your M5 experience, the cost was totally worth it to me. The entire camera was stripped down, the shutterbox replaced, fully overhauled and brought up to factory specs, rangefinder aligned, new wrap…. essentially a brand new camera. It returned feeling amazing – plus a full year warranty.

      Coincidentally, I recently spent some time with an R3A. I really liked that camera. The Ikon definitely feels more refined, but I wasn’t mad at it at all. With that said, I would encourage you to try an Ikon if you get the chance. Every person I know personally that owns one, absolutely loves it.

      The M5 is on my list for sure. I’d love to shoot one some day.

      Appreciate the comment… All the best!

  • Great review, Dustin – I own of these and call it my magic talisman. It both confounds and delights me. The confounding part has nothing to do with the camera – it’s simply because I much more easily relate to an SLR, rather than rangefinder, viewing system. I’ve worked hard though to become more comfortable with the rangefinder experience; when the stars align for me, the ZI takes fabulous pictures and the ZM lenses are astonishing.

    One quick ergonomic tip – I cut a thin strip of black gaffers tape and placed it so it just slightly intrudes onto the right-hand vertical edge of the viewfinder (as viewed when looking at the front of the camera) – voila, the shutter speed readout shows up against a black background in any light!

  • I have dual M6 classics due to the quieter shutters. A friend of mine has one of the Ikon ZM bodies and absolutely loves it, nd the few times I have handled it it was really nice because of the lighter feel. As for lenses I myself opted for the ZM glass, one of which being the one shown in this review; the Biogon ZM 35 f2.8. My other main lens is the Planar ZM 50 F2. Both are absolutely gorgeous and certainly resolve better than many of the other lenses I have used in the past.

  • Very interesting! Maybe I should buy one. I really want!

  • It is strange how apparently the same shutter in the Konica Hexar is noticeably quieter than the ZM. Must be due to the way it is attached to the chassis and the outer casing to the chassis, providing sound paths.

  • It is puzzling that Leica never did anything to make their viewfinders less squinty and more practical. They have the technology but are too wedded to their conservatism. For that the Zeiss people deserve much praise for breaking away with convention and giving us such a great viewfinder on the ZM!

  • Well Dustin, I think you may have just convinced me to save my coin for one of these instead of a Leica M!

    I note the post is from 2017, I assume that Zeiss are still servicing these in 2020?

  • I just picked one up, because I just had to find out for myself what the fuss was about…
    I’ve never handled let alone used one before, so was very curious being a Leica M shooter.
    The silver finish in person looks much nicer than in pics. In pics it looks plasticky.

    The one bit of weirdness I noticed is the RF patch does not move with the frame lines (auto adjusting for parallax) as the lens is focussed. At infinity it is significantly lopsided, which I find very strange. Leica Ms always stay centered, no matter where the lens is focussed.

    Playing around, the patch on the Zeiss is centered at 5 feet, and is off to the left at min distance.

    With the Zeiss vf, as the position of the rf patch is variable, you have to keep referring to the frame edges to determine composition as you cannot use the rf patch as a point of reference.
    With a Leica M, you can use both the rf patch and the frame lines as they work in unison which makes it very quick to compose and shoot.

    The shutter speeds do disappear in daylight, which is a serious bummer. With a Leica M, you can see that info (M7, MP etc) clearly and at a glance in all lighting conditions.
    One nice thing is that because the vf is so far away from the lens, larger/wider lenses like the 7Artisans do not intrude into the framed image as they do with a Leica M.

    Anyway, I hope it grows on me otherwise I’ll just flip it, no harm no foul.

    • Well that was short lived. My Zeiss Ikon ZM succumbed to mechanical failure. The film transport mechanism started to not complete the full stroke/cycle with one application of the film advance lever. So the shutter would not be activated unless I gave the lever a slight second pressure. No issues cycling it with no film in it.
      This is the second Cosina product that I’ve experienced the film transport failure. The other was a Bessa L that was $90 new.

  • Hi Dustin,

    Thank you for a wonderful review of the ZM. It is now April 2021, I recently bought one from a 2nd hand shop in Singapore and while not mint condition still looks good. I am learning how to use the camera correctly and loaded a half completed roll through it. I am hoping that my picture come out okay. I bought a China made 7Artisan 50mm F1.1 from another 2nd hand shop to use it with.

  • I just purchased mine! It’s July 2021 and I couldn’t be happier after reading this review and the community comments. Thank you for this Dustin!

  • This is an iconic photographic equipment. Thanks for a great review!

  • Excellent writing (and probably editing). Loved the “thwick” and the “thuck”.

  • Thank you Dustin for this review of what seems to be a very interesting camera (which I will never be able to afford…)

    You might have added a detail about ZM’s most important precursor: It was Zeiss Ikon Dresden who came up in 1932 with THE competitor of the Leica, the Contax. From 1936 on, the second generation of the Contax seems to have been the first choice among professional reporters.
    See Robert Capa’s famous photos of the invasion of June 6th, 1944 in Normandy: he took them with a Contax II.

    Up to 1954, when Ernst Leitz Wetzlar introduced the Leica M3, it was already just like you have written: The Contax “refines the rangefinder a bit further and pushes things forward, where Leica lets off the gas”.

    So the last picture on which Robert Capa can be seen – Michel Descamps took it in the communications zone in Laos shortly before Capa’s death – shows him with a Contax IIa, a model from the last Contax RF generation, introduced by Zeiss Ikon Stuttgart in 1950.

    Meanwhile, James has written an article about the IIa in 2018: https://casualphotophile.com/2018/06/01/contax-iia-film-rangefinder-camera-review/ .

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Dustin Vaughn-Luma

An experience designer, freelance photographer, and competitive cyclist living in San Jose, California with his wife, three sons, and neurotic bernese mountain dog. The majority of his personal work is shot on 35mm and 120 film, and is developed and scanned at home.

All stories by:Dustin Vaughn-Luma