Is the Lotus Elise a good investment?

The thesis

The 111R with its 189bhp Toyota 2ZZ-GE engine represents the transition to reliability without sacrificing the Elise's core purity. At £20k-£30k for clean examples, it's materially cheaper than a comparable S2000 or Cayman yet offers an arguably purer, lighter driving experience (860kg). Low-mileage 111R Touring models with ProBax seats are the sweet spot: usable, reliable, and increasingly recognised as the last truly analogue lightweight before Euro 7 killed the breed. The Series 2 has lagged the Series 1 in appreciation but is objectively the better car. Median price of £33,696 for all S2 variants leaves headroom for low-mile 111Rs to appreciate as the collector market matures.