Lotus Elite 2nd Gen

Introduced in 1974, the second-generation Lotus Elite (Type 75) marked a significant shift for the company. It moved Lotus upmarket from its spartan sports car roots into the 4-seat luxury grand tourer segment. The car featured a striking fiberglass wedge-shaped body designed by Oliver Winterbottom and was the first to use Lotus's new 2.0-liter 907 twin-cam engine, which it initially shared with the Jensen-Healey.

Collectors appreciate the Elite for its bold styling, rarity, and its place in Lotus history as the brand's first attempt at a premium GT. Despite its larger size and added comfort, it retains the excellent handling dynamics Lotus is known for. The 907 engine is a landmark powerplant for the company, and its presence adds to the car's appeal. Later variants, like the Type 83, offered updates including power steering and air conditioning.

The market for the Elite is thin, with few examples trading hands publicly. The average sale price of just over $19,000 is heavily influenced by needy project cars. The vast price range, stretching from under $4,000 to over $80,000, highlights the immense value difference between cars requiring total restoration and pristine, low-mileage examples. A car's condition and originality are the primary drivers of its value.

Prices range from $3,400 for project cars to $81,215 for top-spec variants in excellent condition.