1st Gen Most liked posts in thread: 2006 REAL GP with only 14 miles on BaT

Seller comment from the auction:

"I originally thought I would awaken Sleeping Beauty after 10 years and start driving her when I had found new homes for my other GPs but I just can’t bring myself to ruining perfection plus it is my last step in my OCD recovery and my last of my collector cars."

He also said preservation of one of the 2,000 was the reason for storing the car, not ROI.

 

but you only need half the garage space for the Mini.

I think the desirable Gen 1 Minis will appreciate in value real soon. We may actually already be at a point where low mile R53 in good spec are going up in price as they are getting rare. I am always scanning what's out there and have to say that a nice JCW 05/06 is super hard to find by now, and even plan R53 cars that haven't been beat up or Alta-modded to scrap value below 75k miles are harder to find at the prices I paid just 2 years ago.

There are always exceptions, especially if you search local Craigslist listings nationwide, but on the big selling sites, the nice cars are demanding higher prices now. Every time I see a nice one, I realize that I got great deals on all of mine. Maybe a few more will come along, but sadly, I am at a point of having to spend money to add storage space for my cars before I can even remotely consider buying another one

 

It sold for $36K, so he broke about even.

Totally agree with you. Most that are looking to get in a MINI are looking for an 06 R53. I always advise people to look for a 06 R53. Sooner or later demand will start raising prices. I just don't think that they will be out of range to the average Joe like a junkyard 70's Superbird is. I should start looking for an other R53 project car, something I can play with a few years down the road.

That's funny

 

Funny I had the same thing happen. Looking for my first MINI I found a 05 R53 black on black online, went to check it out the next morning at the dealership and found out they had sold it the night before. Disappointed, I headed home and found the GP on a used lot, took it out for a spin and that's all she wrote.

 

I got extremely lucky with my car. I initially planned on flipping it when I got it, but driving it too the Dragon was just too much fun so I decided to keep it. It is a 2005 R52 S and it had 3,648 original miles on it when I got it. I decided to mod it and keep it...so here I am. I will 'drive out' the cost of my mods and I finally have 'Peppurr' the way I like her. She just cracked 25,000 miles, been to the Dragon 3 times, to Detroit Tuned 2 times, Lakeside, Oh. 2 times, and the list just keeps going... BTW, when I first got her I was offered $16,000.00 for the car, but decided to keep her.

 

unless he got a heck of a deal from the dealer, I'm guessing he is going to lose money on the deal..Granted it's got 5-6 days left on auction... At current price it's a good deal. Change fluids and go play!!!

 

Wow that is all the money in the world for that. I'd rather spend 30K on that rather than a new MINI. I hope the new owner uses it. It's a shame to lock up a car like that & treat it as a shrine.

 

Its up to $30k, $1500 to go and he will brake even.

I would assume this is what he was trying to accomplish. I read about another guy that had bought three of them and did the same, only difference was he didn't drive any of them, what a waste. I love these cars but I don't see it bringing in the money the kind of money a backyard find 1970 Plymouth Superbird goes for, even at MINI's 50th anniversary, probably not even it's 75th.

You can say one thing for the guy, he is giving someone the opportunity to own and drive a fun brand new 12 year Gen1 GP!

 

My I hope is, whoever the guy is who gets this gem that he uses it. That car was meant to run not stay locked up like a prisoner.

 

ha, what do I know - there's a 27k miles R53 on BAT for $1500 now (well. 7 days to go)

https://bringatrailer.com/listing/2003-mini-cooper-s-10/

nice for a pre-facelift car, but it's a pre-facelift car. I wouldn't spend more than $6500 on it, but somebody else will spend far more, I am pretty sure. Saw a pretty sketchy '05 sell for 10,500 recently on BAT.

 

Buying a car with that few miles comes with it's own set of problems. The first thing is new tires. The second is how it was stored. If in a hot climate,the plastic and rubber parts may be deteriorated. Was the car started and warmed up properly? If the car is driven, the value will drop...just like buying a new car. Unfortunately, MINIs are not really collector cars.
But, if I had the extra money..I'd buy it.

 

Running the numbers...
$31K MSRP + sales tax, and he likely paid a dealer markup (common during the 1st gen era). Conservatively, out the door price was around $34K. Adjusted for inflation with Consumer Price Index makes it the equivalent of around $41K in today's dollars.

I wonder what was his original intention in purchasing and preserving this GP. Perhaps as a spare in case something happened to his other GP? If he thought he could make money off of it as a collectible some day, that's a foolhardy thing to do with any new car.

 

and it normally takes more then 12 years to gain value unless it was an ultra car to start with of some sort.. P1, Ford GT, etc... You could buy a '65 Mustang for $700 in the '70's now its upper teens or into the 20's for even a non special car...