2004 MC40 w/5K Miles-Value??
 

My elderly father in law is considering selling his 2004 Mini Cooper S Monte Carlo 40th Anniv Edition that he bought new and driven only 5K miles. It has been properly stored in his So Cal garage since new. Since the Kelly Blue book only reflects like $4-6K, I’m reaching out to this knowledgeable crowd to try and get a grasp on the real world value. Please give me your thoughts. It is 100% original and other than needing a good detailing due to a lack of use, its in excellent condition with all the stickers, paperwork, window sticker etc....

Depends on where he sells it. If he goes the Bring A Trailer route, I think he could get in or around $12k to $15k for it. Is it a JCW?

MC40 Value
 

Its not a JCW

I think it's probably worth more the the KBB value, but auctions aren't a sure thing. As a buyer a low mileage car is appealing, but it's also fraught with potential downsides from so little use. There's a high probability of the seals and gaskets being cracked and dried out leading to leaks and needing to be replaced. My valuation would probably be in the $7,000-$9,000 range.

Its not a 45 yr old MGB....its a 16 yr old 2004 Mini Cooper S with modern engineering, seals and gaskets. Seriously doubt there will be any issues in this regard. I think its probably been exercised enough to keep everything in good working order. That said, I’m sure there will be some things that need to be addressed over time, but isn’t that every car? Regardless, I appreciate your take on its potential value. Hopefully it will exceed that range but the market will decide.

Being a special edition one-owner unmodified MINI is a huge plus. Lack of use over a long period is a minus. Tires, belts, all fluids and filters may need to be replaced, if they weren’t done on schedule. Hoses and gaskets may be an issue. Probably looking at at least $1-$2k to refresh all of that along with the full detailing, and any other unknowns.

I think the above ranges are correct (BaT tends to bring highly inflated prices). If you took care of those replacement items it will need, you should do well. Otherwise, the $9k private sale estimate may be about right.

With cars like this, you need to find the right buyer. If you do sell, take your time and hold for a good price from someone who appreciates what they are getting.

You may also want to post this in the MC40 Owners thread as they will have a better idea. You might even find a buyer in that group too.

Link: https://www.northamericanmotoring.co...ners-club.html

I checked the BaT auctions. There are a few low miles examples to give you an idea:

https://bringatrailer.com/mini/modern/

Thanks Jack....I’ve been checking out BAT but have yet to see a MC40.

modern engineering and gaskets help, but I bought an 2003 R53 brand new from the factory, customized the options myself. I drove it 155,000 miles over 12 years and it never leaked a drop of oil, even from the infamous crank position sensor o-ring. The 2003 I bought to replace it had less than 50,000 miles and leaked oil from the valve cover gasket, crank position sensor o-ring, and oil pan gasket. It also had a bad boot grip gasket, front strut mounts, and needed new tires, not because the tires on it were worn out, but because they were hardened and cracked.

I'd definitely be intrigued by a car with only 5,000 miles in 16 years, and I'm not trying to discourage you, but it's nothing like buying a car with 5,000 miles that's only a couple of years old. I do agree that finding the right buyer will definitely help you get the most for the car.

Racingguy04: Yes, its really kinda the luck of the draw. Regardless, 5K miles is what drives the narrative....both for and against...and arguably for :). As a lifelong car guy enthusiast, I’ve always been drawn to these low mileage 1 owner barn finds. Conversely, I’ve also occasionally been attracted to a one owner high mileage example. My current weekend warrior is a 1977 911 with 276k miles. It has a certain appeal in that it has had to have an immense amount of care, attention and big bucks spent in order to make it this far. Mid yr 911’s (74-77) were notorious for needing heavy engine work prior to 50k due to the the excess heat created by the EPA mandated emissions and Porsche’s solution—thermal reactors and a 5 blade cooling fan. Lots of these unloved middies were parked and left for dead by their owners due to this. Now, they’re hot collectibles....go figure.

As an example, Wheeler Dealers on TV, refurbished an MC40. Most of what they did were regular maintenance items that had been overlooked. It sold for $9,995 but had quite a few more miles than yours.

Here is one for sale. Asking $9900 but hasn’t sold

Hey, check out this car I found on Cars.com: https://www.cars.com/vehicledetail/d...ff=share_other

I bought mine a year and a half ago. It had 34,800 miles and was in really good shape, minus the fact that since it hadn't been driven the throwout bearing had dried out. So I replaced the clutch. It also had a few issues with a mouse that chewed up some wiring which has now been fixed. I also went through and did all of the 100K mile service since the car is15 years old. I paid 9100.00 for mine and it currently has 38,500 miles on it.. I have since fixed all my issues and had Paddy Hopkirk sign my car when he was out here in Portland to celebrate the Mini's 60th anniversary. A car is worth what someone is willing to pay for it. I'm sure you could easily get 10 - 12K for it if you are patient and find the right enthusiast. Good luck with the sale!

MC40 w/5K miles
 

Thanks for the constructive feedback Russ! That PH signature is way cool! I remember Shelby Cobras and Mustangs lined up at a show in So Cal many yrs ago waiting for the legend Carroll Shelby to sign their cars.

Sounds like you’ve also got a nice low mileage MC40 as well. Tell me, does your car have all the stickers on it and do the majority of owners keep them on? Any special care required? If I end up with the car, My wife would likely occasionally drive it and at 58, she’s not big on the stickers. Actually, I’m not necessarily big on them either but wouldn’t want to adversely affect the value by removing them. But, if they were still avail for purchase, I suppose one could remove and reapply at some point down the road????

The Original MC40 graphics are no longer available from MINI. There are reproductions available through a few suppliers, but having originals in great condition will make the car more valuable.

Decals and the #37 door number plates are available via Firestorm Graphix. I replaced mine thru them and their quality/price/service is very good.

Well here you go, live now on BaT https://bringatrailer.com/listing/20...oper-s-mc40-8/

I own a low mileage mc40 myself. I dont think it adds any value at all to the car. Most mini people scouff at it as just a wannabe. I dont agree but the community at large could careless about it. I do love mine but I dont even bother to post about it.

A lot of that seems to stem from the fact that MINI had a hard time selling them when they were new, even though there were only 1000 of them. My local dealer at the time (Global BMW MINI in Atlanta) had 3 of them in their loaner vehicle inventory. I remember as late as 2006 I was able to find two, never titled examples still available for sale at dealers in the Eastern US.

The MC40 goodies, that are purely cosmetic, were an $8,000 option. I bought mine a couple of years ago for $4,000. I also have the original 2004 sales receipt. The purchasing owner, including sales tax, fees, plus owner-selected additions like BMW service contract and tire protection, paid $34,310.84. There's your primary reason dealers couldn't unload them. No way I would have paid $34k+ for one.

For contrast, I paid $22,900 for my 11/03 production 2004 model. Mine was lightly optioned with premium package and Lapis Blue leather interior. Early '04s like mine came with the 2 spoke steering wheel.

Yup, my 7/03 production was $22,500, hard top, manual climate control, xenon headlights, lapis blue interior, and cruise control. The only way they could have gotten me to pay more would have been for the JCW kit.

This one just sold today. Gives indication of current market value for a low mileage MC40. Just adjust for miles and condition as appropriate.


https://cimg6.ibsrv.net/gimg/www.nor...be5408516.jpeg

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MC40 w/5K miles
 

Finally got pics of my FIL’s MC40 w/5K miles
https://cimg0.ibsrv.net/gimg/www.nor...985166788.jpeg
https://cimg1.ibsrv.net/gimg/www.nor...29b7695a5.jpeg
https://cimg3.ibsrv.net/gimg/www.nor...af60ccf00.jpeg
https://cimg4.ibsrv.net/gimg/www.nor...13c60340b.jpeg
https://cimg5.ibsrv.net/gimg/www.nor...f99455a5d.jpeg

Its #732