New York Times on the GP’s Value

Sections: JCW GP | R53 (Coupe) May 1st, 2008 16 Comments

We first heard earlier this year on MF that the GP values may be on the way up. While we have yet to see hard evidence of that first hand, prices seem to be holding rather well according to the New York Times:

In two years, the GP Kit, according to my friend, had become a collectorâ€™s item. â€œPeople bought them and stored them in their garage,â€ he said.

Really? An instant collectible? I brought this up to Vincent Kung, a Mini product spokesman, who wrote back, â€œThe GP, yes, has been selling for more than sticker. I saw a used former press car for sale at a local dealer at $36,000.â€

Press cars, for the uninitiated, are new models that carmakers loan to journalists, typically a week at a time, for review purposes, at which time theyâ€™re used and abused. A former press car selling for $3,000 over original sticker is either optimistic or highway robbery.

Or could it be fair value for a GP Kit? I had to see for myself. After spending too long on eBay, Craigslist and AutoTrader, I didnâ€™t find any cars in the $40,000 range, but I did find three for around $30,000.

+ Miniâ€™s Instant Collectible / NY Times

Written By: MF Staff

C4

I think this bodes well for the entire R53 era as well.
http://www.motoringfile.com/ Gabe

I think this bodes well for the entire R53 era as well.

R53, R56, it doesn’t matter. They’re mass produced cars and it’ll be quite awhile until they start rising or even leveling off.
C4

True. But there is an element of desirability about the 1st gen MINI that I am sure will make it a very sought after car in years and decades to come (a la BMW 2002).

A lot of enthusiasts perceive the original new MINI as being the car that best captures the spirit of the original in terms of driving feel, design, handling, etc.

It would be interesting to see how the 2nd gen MINIs will bode in this area, particularly, limited edition models and factory JCW cars.
C4

Also, the JCW GP is perceived to be one of the most uncompromised performance oriented, factory backed MINIs to date. 2,000 made for worldwide consumption and only 415 imported into the US will only continue to reinforce the notion that this is one special machine.

(Can’t wait for Todd to jump in). ;-)
Jon

I have seen GP’s go for 28-40k depending on the seller. I will call out NorthWest Mini for attempting to sell a CPO GP for 40k, not sure exactly what it eventually sold for, but a bit of highway robbery there.

I have only been a GP owner for a week but have witnessed a huge perceptual change while driving it. I have had many drivers notice the car and a large number of comments on it so far. I think even fro the uninitiated Mini fanatic the GP looks so different that it stands out as being a different beast. While I don’t expect to see an instant increase of value on the car I can say that I do believe its long term potential is grand.
Scott

Interesting that this is a topic today. Just happen to be on cars.com before hitting this site. What was the first MINI to pop up? 2006 GP for sale, just shy of 38G with 4+ thousand miles. I’m not sure how often these come up for sale, but if you’re in the Los Angeles area here’s your chance.

Come on LOTTO!
kd

I look at the GP as being in the same company as the E36 BMW LTW. They really don’t command that much value. The LTW’s fault was no AC (to me that’s a plus).

The GP’s fault is it has AC but no back seats. They should have left the back seats and went with aluminum and carbon fiber parts instead and make AC an option.

OH well, time will tell.

What is great is that only 400 made it hear.
http://toddsmods.com/blog Todd

Whether the GP value is increasing or not is irrelevant to me because I plan on keeping mine for a long time. I love the GP as much as any car I’ve owned and I’ve owned nearly 20 different rides. Sure MINI could have done more to the GP i.e. lightened it even more, brake ducts etc. but as a pure performance version of a factory produced car, the GP will always stand out. Like it or lump it, the GP has some fine engineering behind it including a wind tunnel tested aero kit, wing and under body paneling to considerably reduce the drag coefficient. It is much more than your standard auto maker’s attempt at a “Limited Edition” offering which usually consist of nothing more than badges and trim. Five minutes behind the wheel of a GP and you are convinced that it is “something special.”

If you can find one available for $30K, and I’m sure you can, I would recommend to anyone who loves to drive to run to your nearest bank officer for a loan. Even if you don’t keep the car forever and even if it doesn’t increase in value like a impressionist painting you will have had some of the most enjoyable time behind the wheel you could have ever imagined.
Jon

I second everything you just said, hands down one of the funnest rides I’ve ever had.
James

Hmmm. I bet this explains why the guy in my apartment parking garage finally washed his.
Alpinamike

hey its the new guy in the miniusa office! Well the GP her was revering to was one of the GP on mtts 06 and it was at prestige mini right behind Corp. It was etheir jim mcdowells or fb tims , both a true collector none the less. Would you like to say its before owner was vp or fb tim !
john mcilroy

The GP is the only Mini i would go back to after the R56 S debackle
lavardera

debacle
http://www.nwiminiacs.org DrDiff

I would LOVE to have a 2006 MINI Cooper S John Cooper Works Grand Prix!

BUT, I have 2 sons (ages 7 and 4) and need a back seat. So I will have to settle for an ALTA-fied R55 S or R56 S. I want a R56 S but with the growing boys, the R55 S might be a better choice. Especially with the JCW suspension.
Charlie

DrDiff, Don’t mean to dash your dream, but MINIUSA will not offer the JCW suspension for the R55 Clubman……at least they don’t plan to. Not enough current sales of the JCW suspension sold for the R56 coupe is their reason. They’d have to engineer a spring combination for the rear of the Clubman as well due to the added weight. My other sources says it should fit, except for the issue of the rear springs to be resolved.

Would be nice to know what they used in the JCW Challenge Safety Car which is an R55.

In any case, there’s always the Sport Suspension option from the factory for the Clubman S (and the JCW Clubman)
Aussom

Noticing a few comments about the lack of a back seat. Shouldn’t it be possible to modify the rear internals to install a rear seat, then swap back to the GP standard when you’re finished?

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