The last ever Lotus 340R: Spotted

A unique piece of Lotus history, but is it worth as much as a 3-Eleven?

Remember the Lotus 340R? For something so wild and so mad, it doesn't seem to be mentioned all that often. Well, outside of the owner's club, that is.

Why? Not too sure, really. With the ever increasing fascination around Elise and Exige values, Series 1 cars versus Series 2 models, and just what is the best specification for each, the stratospheric rise of the 340R has largely gone unnoticed - certainly to us at least.

The 340R was always an expensive car, costing a fair bit more than both the Elise and the Exige in the early part of this century, but to see the last ever one for sale at £90,000 is still very surprising. To put it mildly.

We'll discuss that extraordinary price in the context of other Lotus products, but first we need to try and establish how it could have been arrived at. The way this thing looks must have something to do with it; the styling is still utterly bonkers 18 years after it was first revealed, so how must it have appeared at a time when the Ford Focus was deemed radical? Being a bit crazy - or distinctive, depending on perspective - often does help with residuals: look at BMW Z1s, with one car for sale at nearly £60K. Not as mad as a 340R, granted, but would it be as desirable without the daft doors?

Anyway, that goes part way to explaining the price. Another contributing factor must be the rarity. Once it was realised that a production car wasn't going to make 340hp per tonne, the 340R was limited to a 340-unit run. (Correct us if we're wrong here, Lotus aficionados). And while we're used to all manner of new and limited Lotuses being heaved out of Hethel nowadays, a limited-run lunatic Lotus was something quite special in the late 90s. There were 500 Racing Pumas weren't there, and when did you last see one of those? 340 really is quite rare, and is made to seem more so because, well, it's not exactly everyday usable. Lots were converted into race cars as well.

Moreover, it was the most extreme Elise to drive as well as to look at. It used the Very High Performance Derivative (VHPD) K Series with 190hp and a close-ratio gearbox; motivating just 700kg - or even less, depending on who you ask - the 340R was said to be capable of 60mph in less than 4.5 seconds and 100 in less than 11. For a car with five manual gears, two wheel drive and not all that much power, that's seriously rapid.

Finally, like so much else that doesn't seem all that old, it's made to look all the more exciting by the march of 21st century automotive progress. A base Elise is now more than 900kg with a plain Toyota 1.6, and where else would you look for lightweight mid-engined thrills? However raw and intense a 340R would have seemed in 2001 will be ramped up markedly now.

Can that really make it worth £90K? Dunno. When even a 3-Eleven is cheaper, the case might be a bit difficult to make to all but the most ardent Lotus collector. The most expensive Elise on PH is £25K. And really nice S2 Exiges are £30,000. But then a 340R has never been about rational decisions, has it? The world would be a duller place without it, and the world of whoever buys it will be immeasurably brighter for it - when you're spending this much money, sometimes that's the most important factor of all.

LOTUS 340R
Engine: 1,796cc, four-cylinder
Transmission: five-speed manual, rear-wheel drive
Power (hp): 180@7,800rpm
Torque (lb ft): 126@5,000rpm
MPG: N/A
CO2: N/A
First registered: 2004
Recorded mileage: 2,900miles
Price new: £35,000
Yours for: £89,500