Value of a GP today?

PGT · 10-26-2010, 07:37 AM

I've been toying with the idea of buying one for a 'fun' car. There are a few for sale but owners appear to think their worth more than the guide books say. Those with low miles or no miles are asking close to $30k. Yes, its like no....no, there's no warranty left so it shouldn't be priced like new (not to mention four years of sitting isn't what a car was designed to do).

So, what's a low mile GP worth (as in less than 1k miles)? $25k? That's what Edmunds puts dealer retail at.

Thoughts??

**minimark** · 10-26-2010, 07:52 AM

When your talking a very low mileage limited production car like a 1000 mile GP, the value of what the owner is willing to sell for and the what a buyer is willing to pay would apply.

Not one cent more. LOL

rigidjunkie · 10-26-2010, 09:32 AM

30K sounds about right, if I remember correctly they were around 36K new before dealers added to the cost. You are also looking at something that you will either be able to enjoy and lose all the value or that you will sit and look at and retain the value. While I like the look of the GP's I have never understood why someone would buy one over a well moded S. You can get better performance and retain the utility very easily.

PGT · 10-26-2010, 10:13 AM

GP was not $36k. It was $31,115 MSRP. And, some dealers sold for less when they languished on lots. I seem to recall one locally being sold for less than $30k actually.

And, the GP turned out NOT to be a collectible except for the MINI faithful. I'm not willing to pay MSRP for a car that's four years old with no warranty (and isn't appreciating in value, at least at this point)

**Dr Obnxs** · 10-26-2010, 10:29 AM

all those muscle cars that are getting top dollar at auction couldn't be given away in 1975!

I don't think Edmunds is a good guide for what a limited production car goes for. They don't turn over nearly as much as other cars. Buying one that is very low mileage sounds like the seller is re-thinking thier "this will be worth holding onto" thoughts when they bought it... Maybe go for one with more miles on it. That owner won't have been thinking that they own collectable gold!

Good luck looking! Take your time and you'll find one for less.

Matt

**minimark** · 10-26-2010, 10:45 AM

Quote:

Originally Posted by PGT

GP was not $36k. It was $31,115 MSRP. And, some dealers sold for less when they languished on lots. I seem to recall one locally being sold for less than $30k actually.

And, the GP turned out NOT to be a collectible except for the MINI faithful. I'm not willing to pay MSRP for a car that's four years old with no warranty (and isn't appreciating in value, at least at this point)

Then buy a well cared for R53 and go have some fun!!

**TGS91** · 10-26-2010, 10:52 AM

On a related note I saw a guy list a MC40 special edition on MiniMania for something like $40K. Guessing he is going to be sitting on that for a spell..........

Fairly low miles but get real

**BThayer23** · 10-26-2010, 10:58 AM

For perspective, the E30 M3 took about 20 years to start increasing in value. The GP's not 5 years old.

quikmni · 10-26-2010, 11:07 AM

Some higher mileage GPs have been for sale in the $21,000 - $25,000 range.
The very low mileage GPs have been for sale in the $28,000 - $31,000 range.
The GPs were $31,500 new which was not a bad deal compared to the price of a 2006 MCS with all the JCW options (engine, suspension, and brakes).

PGT · 10-26-2010, 11:21 AM

Quote:

Originally Posted by minimark

Then buy a well cared for R53 and go have some fun!!

ehh, BTDT and don't care to throw money away like that again. A GP will be a step down from my last MCS but my goal would be different this time