JCW GP Officially Going Up In Value
The latest N.A.D.A Classic, Collectible, and Special Interest Auto Appraisal Guide shows something GP owners have been waiting (and likely hoping) to hear – the 2006 JCW GP is now appreciating in price.
They indicate that, with an MSRP of $31150, the GP has a value range of low 28,325, average $31,550, and high of $34,900. In total 2000 John Cooper Works GPs were manufactured (415 being imported to the U.S).
So far the GP seems to be that very rare case of a contemporary special edition actually gaining in value from original MSRP.
The $31,150 MSRP did include the $550 destination charge. The actual MSRP was $30,600.
That doesn’t seem to be there case from what I’ve seen for sale, however, things change. Perhaps word from R56 owners with “buyers remorse” such as myself has leaked and more people have realized just how “special” the R53 was.
Don’t mean to open this can of worms again. Ok, I did mean to. Stumbled upon an ’05 stock MCS a few weeks ago for sale at a price I couldn’t pass up. Bought it and was amazed at the difference compared to my “triple” JCW R56. The $14,000 “go cart” is twice the fun of the $41,000 “refined” version.
At 2000 miles, it’s for sale.
I have never driven a GP. In spite of the questionable styling it must be a complete gas to drive.
So how is the R53 resale value pairing up with R56 resale?
The GP is a kick to drive! Power, handling, everything to the max! This is the definitive R53 MINI.
I am not surprised the value and demand for the GP is still high. I think they will always hold their value better than the regular R53.
Little too early to determine the R56 resale trends, IMHO.
20 years from now, you’ll be seeing GP’s on stage at the Barrett-Jackson auctions, pulling in beaucoup bucks! Good for you all who were privileged enough to get one!
Problem is that the GP is too much fun to drive. It shouldn’t sit garaged so that years from now it can sell well at auction — if you’re lucky enough to have one, take it out for a spin and enjoy it.
I agree that the GP is made to be driven however there is something so special about this car that it straddles a line between extremely fun toy and investment. I do think that enough of the GPs in the US are being driven on a daily/regular basis as to eventually add to the value of a select few in the coming years. That being said, investment was not the reason I bought my GP. Whether you like the car or hate it, the GP remains a complete car with a great amount of engineering design behind it. It will surely be bested on the performance end (if not already) but it will always remain the cherry on top of the second coming of Mini, now MINI, represented in the 2002-2006 model line up. Nothing can change the historical significance of that.
well put todd. as perhaps the most staunch supporter of the mcsa i must say i’ve never experienced more of the MINI rush then when i took a GP out for a brief – but intense – spin…
I’m in this strange situation where I thought I was 100% sure I wanted an R56 but yet I keep finding myself looking at GP’s along with factory R53 JCW cars. The GP is such an amazing car and I know the R56 factory JCW will be faster but I don’t think it can ever match the charm, the looks or that feeling that makes the R53 such a special car. It gaining value would just be icing on the cake!
Mike
Hadn’t been for the lack of a rear seat, I would have jumped on a new JCW GP when I had the chance.
I personally think the R56 still have very big shoes to fill, and while the car is fairly respectable in many measuraments, the “magic” of the R53 era is something that will not be easily be duplicated by BMW ever again.
Think of it in terms of the legendary BMW 2002 and its immediate successor, the 320.
>Think of it in terms of the legendary BMW 2002 and its immediate successor, the 320.
Interesting thought Frank. Personally I’ve always compared the R53 and the R56 to the 2002 and the E30. The BMW 320 was underpowered and isn’t the best metaphor for the R56 on a couple of levels. The E30 had more power, was more refined, and in all respects was a slightly different kind of BMW. It still had a huge following and proved incredibly successful for BMW in the broader market. In fact, for my money BMW didn’t build a better car until the E46. In some ways the 1 Series maybe be the only car they’ve created since that captures the true spirit of either car – even at 3400lbs.
I drive my GP every day – Dr Kay Segler would be proud.
I am in two minds as to whether I should be doing this (driving it every day).
I am paying my ass off every month – the repayments and insurance amount to quite a bit.
This is the car I have always wanted, and had to wait a year for (I am the second owner).
Do I drive it every day and get my kicks every day (while racking up the miles)? Actually use what I am paying for every month?
Or, do I buy a Yaris for everyday use and “save” the GP for weekends only?
Help! Really stuck here. The GP is so addictive…
IMHO the GP wasnt a ‘contemporary special edition’ at all, it was a hyper exclusive indevidual model in its own right. Therefore, it will hold it value extremly well, and as some are even destroyed through use, the remaining will prosper in terms of rarity value.
Gabe, I brought up the 320 because that was the model that replaced the 2002 after its demise in 1976. But I agree with you on that the E30 (One of my all time fav 3 series)was more akin to the 2002 than the 320 itself.
I spent some seat time in various E30 models throught the 1990’s and the one that made the biggest impression was a friend’s ’94 (I believe) E30 M3 hardtop coupe. That car was to die for, literally. It was black, had a black interior and made the sweetest sounds of any Bimmer I can remember. In many respects, the R53 reminds me a lot of those E30s I had the opportunity to spend time with.
>I spent some seat time in various E30 models throught the 1990’s and the one that made the biggest impression was a friend’s ’94 (I believe) E30 M3 hardtop coupe. That car was to die for, literally. It was black, had a black interior and made the sweetest sounds of any Bimmer I can remember. In many respects, the R53 reminds me a lot of those E30s I had the opportunity to spend time with.
To me the R53 is the 2002 (I always thought it was a great coincidence that it came out in 2002). The R56 is the E30. A little larger, a little more refined, decidedly faster and great fun to drive. Maybe not quite at the same level of “purity” of the 2002 but a great ownership experience and a great drive.
The E30 coupe went out of production in ’91 so that may have been either a late E30 or an early model E36. The E36 is still a fun car but it was a little heavier and not nearly as well made on the whole however.
Anyway how about that GP…
The E30 M3 ended production in 1992. The E36 was an attractive car but had a cheap interior and was not a very reliable machine, so I have heard.
So when are you getting a GP? (Todd is not going to sell you his)
and the GP would be the E30 M coupe, more car than the 2002 tii.
>and the GP would be the E30 M coupe, more car than the 2002 tii.
Man you guys are really butchering my analogy 🙂 If you follow what I was saying (and it’s just my opinion) the GP would be the 2002 tii Turbo. The E30 M3 would be the JCW factory R56.
It’s way, way too early to consider the GP as an appreciating ‘classic’. That will take decades. Keep in mind that it took the entire run of the original New Mini to culminate in the GP. The best of the R56 is yet to come. Unlike analogies used here on past BMWs, the R56 chassis is lighter, stiffer, and has the potential to be more powerful than any version of the R53. If the pinnacle of R56 development isn’t a better car than the R53 GP, then perhaps over time the GP will be considered a ‘classic’ and possess some collector value (I’ll use my own analogy here: Porsche 993C2S vs 996C2).
The R56 is a better car but it doesn’t mean it’s a better MINI. There is a common analogy in the Miata world that with each new model they become better car’s but not better Miata’s and that is what you are seeing here.
The R56 is lighter, faster, has more space and is more efficient but it doesn’t have that raw connection from car to driver that enthusiasts seemed to love about the R53.
Is the R56 a better car for the masses? Of course…but it just doesn’t have the feeling that a GP would and that’s not a bad thing since if every MINI was like a GP I don’t think MINI would sell nealy enough of them.
Mike
<blockquote>At 2000 miles, it’s for sale.</blockquote>
Pics, specs and price?
Has anybody ever heard of NABE?
Great new for GP owners! If this and the R56 Challenge car are any indication, MINI is up to the task of putting some very unique (and potentially valuable?) MINIs out the door in addition to the production cars. Now and again, I’d expect more to see other interesting offerings in the years ahead. Start saving.
<blockquote>
Or, do I buy a Yaris for everyday use and “save” the GP for weekends only?
Help! Really stuck here. The GP is so addictive…</blockquote>
Timmee… Not that my opinion matters to anyone; but I am a firm believer that cars are meant to be driven. If you are in a position – financially – to have more than one car, go for it. But at the end of the day, drive your car. I have a friend who owns over a dozen classic ars – gorgeous cars. I honestly don’t know how you pick which one to drive. He has his everyday driver and “plays” on the weekends, etc. If I had too many cars, I’d have a hard time choosing.
Don’t get me wrong – should I ever be fortunate enough to have that problem, I will figure out a way to suffer through.
Short version – Drive your car when and how you want to!
MiniMark. I think I’ll get in trouble trying too hard to sell the car here. However, I can send you pictures and full info if you send me your email address (gregzito@zitoinsurance.com). Or check Autotrader under Mini Cooper. There are two AB R56 JCWs. Mine is the one with PB leather/JCW suspension/18″ JCW wheels.
Thanks Gabe.
Greg, what is the spec of the “new”’05 R53 S that you just purchased?
Stock ’05 MC. 49k miles. Sport,premium, cold weather,int chrome, pkgs,aux gauges. $14k. BRG w blk roof/bonnet stripes.
Since the warranty is almost toast it’s time to mod. CAI/pulley/exhaust/Unichip.
Loving it.
I just sold mine GP(1630) for €35000,- (was new in Holland in 2006 €44000,-)
There are to many GP’s for sale right now, only in Holland their are 10 GP,s for sale and in germany much more.. so the price will not raise for a while.. but i enjoyed every kilometer.. i really loved that car! But for a daily car for mine work i am better off with mine Clubman S right now.. and for the fun i still have the Dax Rush Cosworth that is the real funcar 😉
The GP that just sold on NAM for $26K is going to bring down those numbers a little.
Sorry for the initial confusion: I gave Gabe this reference and must have garbled the source: It is actually the N.A.D.A. Classic, Collectible, and Special Interest Appraisal Guide, published by the National Automobile Dealers Association, and is a standard reference for auto appraisers.
Gary Anderson
Thanks for the clarification Gary – it’s been updated above.
<blockquote>Do I drive it every day and get my kicks every day (while racking up the miles)? Actually use what I am paying for every month?
Or, do I buy a Yaris for everyday use and “save” the GP for weekends only?</blockquote>
Cars are meant to be driven. Seriously, buy your car, drive your car, enjoy your car. Don’t “save your car” so that somebody else can enjoy it more than you did later down the track.
One of the guys I work with has a nice car, which he loves to drive. He’s buying a “work hack” so that he can drive that during the week and save ~200ks on the car a week. That’s like saving 10,000ks a year. If he keeps the car for 3 years…he’s saving about 30,000ks which at the end of the day, will increase the car’s value by bugger all. So hey, he might be able to sell it for a couple of grand more in 3 years…but he’s lost out on hours and hours of motoring fun…all so the next guy can enjoy the car more than he did. Don’t do it. Enjoy your GP – it looks amazing and I wish I owned one.