When one goes on the NAM or other market venues to look at used MINI's (R53 only for the sake of this thread), the first thing which should strike you is how close the cost of a new one is to a used one...a used one with no mileage, problems, etc.
Recently I put my MCS40 in primo condition (sans the excessive mileage at 80K) on several lists. I started at KBB value, then dropped to Edmunds, and finally settling in a NADA trade in value and still had no serious bites. I think my last asking price was $16,900. Given the 40th year package, a Minspeed exhaust, Alta 15%, M7 Strut, Pro Mini CAI and a few other goodies, it was a good deal for someone wanting a nice ride. I never got one bite...not even a nibble.
On the MINI market page today there is an 06 JCW selling for more than a new '09 JCW. Granted, the newer model doesn't have some of the extra packages, but it isn't far enough off to warrant paying $300 more for the used one. Also, mileage aside, it is a 4 year 50,000 mile warranty. An '06 's warranty dies sooner than later. There is an '05 with 44K miles with an asking price of $17495, somewhere between NADA and KBB. The warranty on this one will be toast shortly leaving no advantage to buy a used one over the cost of a new one...of course other than the affordability dilemma.
The reality is that the MINI R53 holds a "value" given to it by KBB, NADA and Edmunds but it can only become a value if someone is actually selling these cars. My guess from having watched the forums for several months now, is only a handful are making sales, and I am guess not anywhere close to the advertised price.
It is a flat market and money is tight, but somewhere along the line we MINI owners need to do a reality check and get the prices more in line with saleability..otherwise, it is better to lease than to buy...best of both worlds.

 

I bought an '03 R50 (non-s) with 80k miles about 1.5 years ago for only $8,800 (in great shape) even when KBB and NADA had its value much higher. The seller had started listing it at 11.5k when the books said 12.5k. When I arrived after no other bites, he was asking 10.5, actually wanted 9.5 and I got it for 8.8 I think you just cant go by the books anymore. You really need to just hit sites like eBay and such and look at the completed listings to see what the real prices of the cars are.

 

I think the "reality" is it takes a special person to buy a Mini that is loaded with aftermarket performance parts. I would not have the "cajones" to buy a Mini that is full of aftermarket performance parts for fear that it had been driven very hard. I would rather buy a stock Mini and add stuff myself.

This is not a slam on your car, just some food for thought.

 

+1

 

I had an 06MCC with 72,000miles on it. The various books had private party value tween $17000and $19000. I listed for 17000, would have taken 16000. I got zero bites after 3 weeks. I traded it in for an 08MCS and got 15000. Thats 63% of original value. About average for a 3 year old car.

 

Just personal opinon... a car is only worth what someone will pay for it. I never understood the value of adding aftermarket parts and charging your investment into a car. I can appreciate the value of a restored classic, or that a certain car holds value better... but adding 1,000's to a car ,screwing with a stock car (decreasing relability) and expect to get your money back is absurd.

 

I agree that if you really want to sell a car, it's better to go by what cars are selling for, rather than what they are advertised at or KBB.

But if your car is unique enough, sometimes it takes time to find the right buyer willing to pay a premium. With fewer buyers today, you might have to wait longer. If you're not getting any interest, adjust your price lower.

 

this is not uncommon for enthusiasts. We tend to see more value in our cars than the general population and many enthusiasts buy from the general population because you can get a better deal. Kind of a lose-lose situation.

Same situation when I owned a 300ZX, MGB, Maxima, and even a Chrysler 300M my son owns (yes there are enthusiasts for the 300M).

Good luck with your sale.

 

I boughtan 04 MC, one owner car, Fully BMW maintained, everything worked, no dings or flaws, perfect in and out, and no mods... just what I wanted on it, would have ordered the exact car...S wheels, sunroof, 5 speed, solid black, but very high milage (174K). I'm 60 yrs old and have not seen a cherry in a very long time but this car was close to it...I paid 8K and had to fly to Boston and pick her up and drive 730 miles home...now I will mildly mod it, grille change, craven strut plates just installed yesterday...you know, the fun, little things that will make SPÖÖK mine and me...she was bought on Halloween....I had looked and shopped dealers, ebay, autotraders, cars.com and even here, not finding what I wanted at a VALUE I thought was fair..bottom line is buyers and seller will meet if the price is fair and the product is what the buyer wants...

 

To the general population aftermarket parts actually diminish the value of the car for a few different reasons. When gas prices were going up and the economy was still perceived to be strong our cars were going up in value some, now gas is cheap and people are broke (they were broke before but now they're broke with no credit). The market's tight all around for car buyers and while there's a few buyers out there still, people are tightening their belts. Perhaps advertising in something like the DuPont Registry would get you a few quality hits from people looking for a unique car that could be used daily and has some potential as a collectors item. They normally sell more exotic stuff but occasionally you see the oddball Jeep, pickup, or near luxury car in there.

 

MINIs are pretty "in-your-face" cars compared to most of what's on the road. The 40th edition is even more so, hence the market is smaller still. Throw the aftermarket mods on and the niche is tiny.

IMO, a used MINI with at least one year/12k miles left on the factory warranty is worth a premium: you'll have time to discover issues and get them fixed.

I also believe it makes more sense to buy a new MINI (to order) than to buy one that is a year old. The cost is almost the same and you get what you want.

Then there's the economy. It's not just MINIs, nothing is moving right now.

 

Good thread and discussion - thanks to the OP. Subscribing to see people's thoughts...

mb

 

I consider most of the mods that I've done to my car as an investment in my own personal enjoyment of the car and I expect to get nothing back on my 'investment' other than loads of smiles!

If I expect to see any $ back from the mods, it will be from replacing the stock components and selling the mods individually here on NAM or another MINI board and selling the car as close to stock as I can.

For many of my mods, I've kept the stock parts for just this occasion (example: my stock exhaust, airbox, shifter, brakes and springs are in the garage). Some bits, like the pulley, will probably be sold with the car (if it is ever sold) and not mentioned to a dealership if a trade-in and will only be mentioned to a private buyer if I know that they are an enthusiast.

Sometimes these bits highlight the fact that a car has been driven hard. Sure... I like to drive my car hard. I've also had several people say "If you ever decide to sell... let me know" because they know that before and after I drive hard, I lavish preventative maintenance and work on the car to keep it in tip-top shape.

 

[quote=agranger;2576676]I consider most of the mods that I've done to my car as an investment in my own personal enjoyment of the car and I expect to get nothing back on my 'investment' other than loads of smiles!

quote]

Exactly. I am glad I see it this way so I am not dissapointed later. There are some threads on NAM about the subject of mods making our cars worth more. I think they make them worth more to US, not the public at large.

 

I agree with the mods not adding value, nor did I have any hope of them giving more value than it was worth...the point I wanted to make is the difference between a perceived value opposed to a real value. It is a flat market and as such, I am going to way of the MINI Select lease/purchase on an '09 JCW. I will only be paying $20 a month more than I am now and at the end of the three year term, I can either buy it, or trade up to a new one and repeat the process...understanding of course, I never have enough equity to do doodley squat, but it is the rare-rare car that will provide that type of bottom-side up exchange anyway.
I found it interesting to see how many people thought their car was worth a market price that is not at all commiserate with actual selling prices and wondered if it was just me, or have other MINI sellers run up against the same "reality."

 

I agree with some of the above, but here may be other variables to consider.

First and foremost is the demographics of the region you are advertising your MINI. The MINI Cooper and S is attractive to a minute amount of buyers within a small niche of enthusiests within a huge auto market.

Secondly, how "Pre-Owned MINI" saturated is the market in your advertising region.

And:

What is the distance one has to travel to nearest authorized MINI Service Dept.

And I think for the most part, folk don't understand the whole MINI Modding concept until they own one. And if you advertise all the wonderful extra's you have there, they may just think you are some 18 yr old who beat the heck out of the car.....

Keep it simple and real. Advertise the rarity of the car - MC40, Service papers and scheduled maintenance done, fuel mileage and fun factor. That should sell it just fine and for more than 16K too, that's pretty low.

Good Luck.