2004 MC40 Orig Owner w/5K miles-Value?

Discussion in 'Classic Mini, MINI and other Cars for Sale' started by Motiv8ed, Jan 2, 2020.

  1. Motiv8ed

    Motiv8ed New Member

    Jan 2, 2020
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    My elderly father in law is considering selling his 2004 Mini Cooper S Monte Carlo 40th Anniv Edition that he bought new and has 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....
     
  2. Crashton

    Crashton Club Coordinator

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    I'd suggest putting an ad on Bring a Trailer for your father. Not sure what it would sell for. Put a reserve on it just to be safe.
     
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  3. Motiv8ed

    Motiv8ed New Member

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    Thank you for the feedback. While a BAT listing is a consideration, we’d like to establish a value range 1st before listing anywhere. He may or may not sell, depending on its perceived value. FWIW, BAT determines what the reserve needs to be and then the seller has to approve/agree. But getting to that point requires quite a bit of work as far as posting/sending pictures, description/details etc, all of which may be too much to ask of this 84 yr old. Regardless, I’d like to be able to tell him a real world value range for his barely used MC40.
     
  4. MCS02

    MCS02 Moderator
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    Welcome to MA.

    This is a hard question to answer. A 2006 GP just went for 32k on BAT. I thought it would get a good price but not that high. The MC40 is not as sought after as a GP so I would be surprised if it brought that much. The bigger problem is there are not enough of them on the market to establish a good bace line. When I called Hagerty to insure my 1953 Indian they looked at all the auctions and gave me a valve based on the market. Perhaps you could give Hagerty a call and check on insurance to see what they say the valve is. They have a great data bace and are very helpful. Even if you decide not to sale they may be who you want to use. A normal insurance company is not going to give you the true value for that car anyway.

    What ever you find I would really like to know how this works out.
     
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  5. Crashton

    Crashton Club Coordinator

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    First thing, welcome to M/A.

    I'm sorry I can't be of more help pricing your father's MINI. The reason I suggested BAT is that you will reach a very large market. I'd wait until spring to do a listing if you end up going that route.

    Seems to me it would be worth it to take a bunch of high quality pictures. Even if you don't do BAT they will come in handy.

    IMO that GP that sold for $32,xxx was an outlier. The GP is the most sought after R53, but that was all the money. The Monte is not as sought after, although it's a great car & essentially new. If your Father can't get his price he should hold on, it will not lose money only gain. Just this guys opinion FWIW.
     
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  6. Motiv8ed

    Motiv8ed New Member

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    Thanks for the feedback guys. Normally its pretty easy to get a read on a value range but in this case, I haven’t found a single ultra low mileage MC40 sale result. KBB values it like any other “driven” S, NADA has it in the stratosphere and Hagerty has an Insurance value of $27K...ish. With only a few hundred more made than the GP, perhaps the largely cosmetic mods vs a real performance bump will keep it some % below in terms of value. I kinda like the car and might just move on it myself.
     
  7. Dave.0

    Dave.0 Helix & RMW Powered
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    Your car is a first generation R53, Pre-facelift.

    Looking at other 1st Gen R53’s you should bring in anywhere between $8,000 - 15,000. I know that’s vague but, the market is that unpredictable on used MINI’s.

    You can look on BaT and see what others have sold for, but remember to not include low mileage GP’s. Those are the top of the R53 pile and special cars that are highly desired.
     
  8. Dave.0

    Dave.0 Helix & RMW Powered
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    If I was you I would would buy your fathers car and keep it and enjoy it.

    It’s a great car, and still brand new.
     
  9. 00Mini

    00Mini Well-Known Member

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    A virtual brand new R53 would be an awesome ride to own.
     
  10. Motiv8ed

    Motiv8ed New Member

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    I should mention there’s another car parked in front of the MC40....a 1991 Miata-Ltd Edition BRG w/3k miles. One of 4000 cars. Has the factory hardtop and all docs as well. My father in law is a pretty hip ole dude, but he just never used these things.
     
  11. Crashton

    Crashton Club Coordinator

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    Miata's aren't bringing much at BAT, although I'm sure that one will hit top dollar. It's great your FIL has some neat cars, but at the same time it's sad he didn't use & enjoy them.

    I had a MINI & a Miata, loved them both. Drove them many miles & when it was time they went to live with new caretakers.

    Good luck with the sale of these.
     
  12. MCS02

    MCS02 Moderator
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    This would be a great car to have! Actually both would be.
     

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