1962 Lotus Elite

£51,750 ($71,632)
Sale Price
£58,000 - £82,000
Est. Range
9 July 2021
Sold Date
Lot Number
Older restoration
Auction House
Chassis no. EB1611. Black over black leather. RHD, 1198-cc Climax engine with ZF 4-speed gearbox, woodrim steering wheel, chrome wire wheels.

Evaluation: Represented as being in single ownership for 35 years until 2015. Fully restored in 1995 and further refurbished by the consignor, who bought it in 2015. The black paint finish is very good. The wheels, engine, and interior are all very clean. A straight, well cared for and honest Lotus with the more desirable ZF gearbox and extra grunt from those Weber carbs.

Bottom Line: The Type 14 (aka the Elite) is a featherweight at barely 1100 pounds. For reference, even the new Lotus Emira weighs nearly three times as much. The Elite’s novel fiberglass monocoque construction, combined with potent engines and independent suspension (transverse wishbones at the front and Chapman struts at the rear), made the Elite a genuine pocket rocket.

Despite numerous class wins at Le Mans, Elites have a reputation for being fragile and of the 1000 or so cars built there aren’t a ton of them left. This is a solid and well-configured example, but after a £65,000 no-sale at the Bonhams Goodwood Speedweek sale last October, the seller cut his losses and let the car go. It’s a modest result for a well-restored ZF-shifting Elite, and the new owner has a heck of a lot of car for the money.

by Andrew Newton
15 July 2021
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Condition definitions
Condition #1: Concours
Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is “concours.“
Condition #2: Excellent
#2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is “excellent.“
Condition #3: Good
#3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. “Good” is the one word description of a #3 vehicle.
Condition #4: Fair
#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. “Fair” is the one word that describes a #4 vehicle.
Condition #5: Poor
Running, but battered, incomplete, and perhaps rusty.
Condition #6: Parts car
Parts car.
Hagerty only assigns condition ratings to vehicles we can inspect in person or, for online listings, via high-quality photography.