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Holds value  //  Depreciates hard

Spend Less, Feel More — the Lotus Wins This One

Lotus Elise S2 111R versus Porsche 911 Coupe (992.1 Series) GT3. 1 point of retained value between them~£128 per horsepower plays ~£268 on today’s market.

Lotus Elise S2 111R · Holds value
+0%
£27,995 new → ~£24,100 today
Porsche 911 Coupe (992.1 Series) GT3 · Depreciates hard
−0%
£159,700 new → ~£135,700 today
Elise S2 111R
911 GT3
£27,995
MSRP new
£159,700
189 bhp
Power
503 bhp
5.2 s
0–62 mph
3.4 s
1.8L inline 4
Engine
4.0L naturally aspirated flat-6
6 speed Manual
Gearbox
7 speed Dualclutch Automatic
860 kg
Kerb weight
1,526 kg
2004
Production year
2022
1.8 L
Engine size
4 L
220 bhp/t
Power-to-weight
330 bhp/t
£148
£ / bhp new
£317
~£128
£ / bhp today
~£268
0130
0%
Elise S2 111R · holds value best
0130
0%
911 GT3 · sheds value
Estimate from model-wide sales — no trim-specific auctions yet
The verdict

The GT3 is a genuinely extraordinary machine, and at roughly £268 per horsepower on today's auction market it represents better value than its new price ever did. But the 992 GT3 depreciation figure here is drawn from just two model-wide sales with no auction data for this specific trim, so treat it as a rough compass rather than a hard number. What we can say with confidence is that you're still spending somewhere north of £135,000 for the privilege, and that buys you a car that is spectacular but increasingly filtered — the PDK gearbox, the electronic safety net, the sheer mass of 1,526 kg. It is a weapon, no question, but it's a weapon with cruise control. The Elise 111R makes a different argument entirely. Its 86% retained value is based on actual auction sales of this specific trim, which means the depreciation hit happened a long time ago and the floor looks genuinely stable. At roughly £128 per horsepower you're getting the cheapest meaningful performance money can currently buy, and the 2ZZ-GE engine's top-end fizz means you're wringing something real out of every rev. At 860 kg, the physics are simply on your side in a way no amount of Porsche engineering can replicate. If your question is what £30,000 buys you in driving sensation per pound spent, the Elise answers it more honestly and more thrillingly than a car five times the price. Buy the Lotus.

911 GT3 is the better night out. Elise S2 111Ris the better decision.”
rev-happypure steering feellightweighttrack-capableanaloguefragile-comfort trade-off
track weaponhigh-revvingdriver-focusedrace-bredprecisehard-edged
Lot
Miles
Sold
House
'07 Elise S2 111R Touring Pack
29,594 mi
£24,120
PistonHeads
'04 Elise S2 111R with Supercharger
53,077 mi
£20,904
PistonHeads
'24 911 Carrera T (992)
12,838 mi
£89,250
PistonHeads
'22 911 (992) GT3 Manual
10,755 mi
£135,000
PistonHeads