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

Put about $1000 into exterior/interior detail, add some new quality tires, have the brakes fully serviced, get a PPI done by a well known MINI specialist in your area... an oil report following the oil change would be a good idea too.

This info and ability to show "near new' is what will change the value of the car from a $7500 car to a $13-$15k car IMO.
The GP's seem to be the only MINI models, save a couple non GP's on BAT... that are fetching good prices.

Show that you have all the keys and literature... take more than 50 excellent photos including engine, undercarriage etc... plus a good video of the car with 'dead cold' start up and running/driving.... and post the CarFax report...

THEN...

Put it on BAT and let the bidding take care of itself...


my 2¢



Auctions... are hit and miss at best... sometimes cars go for great money... sometimes they don't.... if that is good or not depends on which side of the check-book you are standing on. Someone that wants an EXCELLENT condition car, which this one seems to be from this cursory presentation... and does not want to mess around with modded out cars... I could see this car going for $10,000 to $15,000 based on it's low miles and hopefully STELLAR presentation on BAT. IMO, BAT is a good fit for getting the most money out of the car. These cars really have not reached true collectables with the exception of maybe some of the GP's.... $15,000 is still less than many a used Hyundai ... go figure.



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Could always throw it on eBay auction with a minimum bid of what your happy to accept for the car and see where it goes..advertisement will be the key to selling a car like that imo as not many people are looking for that car though it may catch an eye as it does have a lot to offer .
if I had the money I would jump on it in a heart beat ! I'm not much on these brand new cars and all the unproven problematic technology .

I've looked at the MC40's for sale over the past year.... CL and FB listings for nice cars that have not seen snow/salt etc... that are not rusted like the one on BAT currently.... In decent condition to excellent condition could have been had for $3500 on the low end to $7500 on the high end.

To me....Rust or use in corrosive environments like salted roads or stored near the coast... really lowers the value, to me, more than higher milage cars that have been well maintained and have not seen these conditions.

Pics like this... for cars that I'm considering buying... make me 'cringe' a bit.
NOTE: This is a photo of a random car on BAT.... just as an example... NOT the one the OP is representing.
https://cimg3.ibsrv.net/gimg/www.nor...4510c8f561.jpg



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I just saw a like "New" MC40 listed in SoCal with 15K miles they are asking $27K for it.

Motor On!

Can you point us in that direction? (link etc) It must be immaculate... 15k is teetering out of the hyper low mile mark, IMO, compared to the OP's kk version..
Thats in GP2 range for a low mile car :lol:

"Ask" and "Get" can often me much different.... but, there is always someone for everything....especially in auctions.

JaBowders, sincere question here... since you own the most MC40's of anyone I've heard of... what was the average price you were seeing MC40's buy/sell for?

I've seen the MC40's in good condtion go for as little as $3000, and as much as $10k.
The JCW version MC40 on BAT just sold for $8500. (which had surface-rust on the undercarriage and was north of 50k miles)
There was a super nice '02 R53 that went for $10k on BAT a while back :eek:.... It was nice to see that the car was getting well used in a follow up story.

It's nice to see buyers that are happy about their purchases... and well maintained cars on offer too.... and enthusiasts willing to step up...were still talking about the price of a used Kia here... so all good and fun.

These are great indicators that the OP's MC40 should go for a good price with right audience.... BAT seems to be the place.

I paid a lot more than average for my R56... but the car was/is exceptional !

Exceptional cars, like what seems to be the OP's R53-MC40, or the other BAT R53 mentioned above, can fetch exceptional prices.... and some exceptional cars are had everyday low prices when the marketing is not done (barn finds still happen :grin: )

Please keep us all in the loop... and PLEASE... post up some good pics of that car !!





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I'd love to see some more pics of this 5,000 mile car in the sun !!!

It would be nice to see it sell to someone that will love and use it !






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My wife has decided to inherit her Dads 5K mile MC40. She loves it!

That's what I like to hear !!!

I hope she drives the heck out of it!

Can you post up some good pics anyway for us to admire?

Even though it's low mile... Do the maintence for a 17 year old car..

Flush the coolant
Flush the brakes
Change the belt
Chek the motor mounts and add inserts if they are still good.
Change the cabin air filter
Have the paint corrected and ceramic coated
Condition the seat upholstery.
Change the tires if they are original.
Consider changing the SC oil.

Have fun!

Good luck to the owner trying to get $27k for a 15,000-mile MC40. I find it interesting how different people view value. The MC40 was simply an extra $8,000 (not exactly good value), dealer-installed cosmetics package to an S model with few additional options (no cruise control or sunroof for instance). Granted, there were only 1,000 of them built but nothing mechanically different than any other S in 2004. Don't get me wrong. I love mine and its uniqueness but I don't expect it will ever cross the Barrett-Jackson auction line at Kissimmee at $3.4M like the Bullitt Mustang. Or sell at its original purchase price from 16 years ago.

I drove #24 this morning, I noticed I need to fill up with fuel and I now have over 268K miles on it ... I wonder if I could get $27K for it? I do know the car was only $1999.99 when I bought it and I replaced EVERYTHING ... not really but yeah, pretty much. From the initial cost plus all the work and parts that went into it an easy $15K to date (I did complete the JCW engine performance retrokit). Sure it runs and handles like it should and I continue to take care of it like I do with all my things. But like my 1975 MG Midget that was a complete restoration ... almost it is 99% I don't have the heater coolant valve... I just found one on eBay (NLA NOS) $68.90 ... Well that is done... point is, I have them because I enjoy them and maintaining parts of automotive history. And if and when I ever sell any of them it will because the person wanting them values them as much as I do.

Motor On!

There's one in SoCal at 25k miles with an asking price of $23,000.

https://losangeles.craigslist.org/sg...062938285.html

Attachment 192682

I always liked the MC40 because it's a slicktop and it's difficult to find R53's without a sunroof. Back when I was looking I came across one in Florida with 60k and all the JCW bits for a great price, but it sold very quickly in 2 days in fact, so I missed out on it.

Market fluctuations are strange and often there are outlier anomalies dependent on who's actively seeking a certain thing at that specific time.

I'm sure y'all have seen the '71 240Z which sold yesterday for $310,000...

https://bringatrailer.com/listing/1971-datsun-240z-124/

...I guess a number of different factors played into that spectacular final hammer price?

Think that $310,000 is a record price for an old Datsun Z?

I did too until I saw this:
an example that sold a couple of weeks ago for ¥88,550,000 which equates to $814,373.
Nearly a million dollars!
:eek2:
https://bhauction.com/en/result/toky...ary/lots/432-r

Of course, it is mega rare, being a Z432R variant which was a hardcore factory race-spec version.