40 replies to this topic

[blacktulip]

Hi, I'm currently on the search for a mk3 mini and I'm a little bit out of touch on what to expect to be paying at the moment. I understand that the current covid situation is affecting the market in a positive and negative way. What's your views about what to pay and for what kind of example?

[T.Harper]

Having recently re-entered the space after 15 years out, here's my summary:

 

• The days of "minis are crap, can pick a decent one up for <£3k" are limited to gone really.
• As with other classics, unfettered factory cars are commanding a premium over self modified projects
• As with other classics, there is now a market for period parts to match the period motor.
• It's quite common to see restored, factory spec cars trading at £12-15k.
• People's DIY modifiction projects will range from £2-3k (read - bodywork issues) up to £10-12k for something that is excellent nick and been done tastefully (i.e. a lot of people like/value the modifications).  You can probably pick up a nice example (i.e. bodywork addressed in last 3-4 years, new bits, some engine work) in the £7-8k bracket.
• Note that if you had the inclination, you can buy a heritage shell for c£9k and then build up the car- probably possible to do this within £15k using second hand parts and your own time.

 

Hope that helps. 

[mr cooke]

if looking on ebay people are asking min of £2k for a project/rust bucket.

[mr cooke]

.

Edited by mr cooke, 19 January 2021 - 07:25 PM.

[MiniMadRacer]

Mr Harper above has summarised things very well there I think

[blacktulip]

So what do you think one that's road worthy and needing some future bodywork and tidying should cost?

[imack]

Genuine Mk3's don't turn up that frequently - plenty of later cars pretending to be Mk3's though. Tidy looking standard cars are often asking upwards of £5000. Don't know if there's much price difference between 69-72 round tunnel cars and 73-76 square tunnel Mk3's.

[Arwel1986]

I agree with T Harper. I owned this when I was 18 originally before selling it. I bought it back in 2019 after it had sat outside in someone's garden for 13 years. I paid £800 to buy it back as a non runner needing a full restoration. Every panel needs either a repair or replacing apart from the roof. I thought I had paid more than it was worth at the time but sentimental reasons took over. Looking at prices now, I think I had a bargain haha.

 

Worth noting I only paid £400 for it when I originally bought it in 2005 when it was in full working order and had an MOT. 

 

As has been mentioned, It all depends on what condition one you are after, that will dictate the price. If you want one in working order with an MOT then your going to be looking at £2k at the very least I would say.

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Edited by Arwel1986, 20 January 2021 - 04:49 PM.

[johnv]

By the time you've had your heritage shell (doors, boot, bonnet) etc rusproofed and sprayed (you have to get it all somewhere that can take it on, probably a spit will be involved) I think you'd be struggling to get something going for £15k. Price up buying and building the 2 subframes with new/refurbed parts....

Edited by johnv, 20 January 2021 - 05:49 PM.

[blacktulip]

I'm hoping to find a mid 70s one for around £4000 that's road worthy which I can do bits to to make my own. Do you think those days are gone? I found a practical classics 2020 buyers price guide online and it says I should be looking at this figure. It says an A1 condition with no obvious faults is £5500.

[johnv]

You won’t find any mini in A1 condition with no known faults for £5500.

[johnv]

Your problem with any MK3 from the 70s for that sort of money is that the shell will be a patchwork quilt, overfills pretty much a given .. if you can live with that then all good. The other problem is that a vast majority of cheap ‘mk3’ minis are actually 80s or 90s cars with 70s logbooks claiming to be ‘reshelled’

Edited by johnv, 20 January 2021 - 05:56 PM.

[imack]

I'm hoping to find a mid 70s one for around £4000 that's road worthy which I can do bits to to make my own. Do you think those days are gone? I found a practical classics 2020 buyers price guide online and it says I should be looking at this figure. It says an A1 condition with no obvious faults is £5500.

£4000 is probably not an unrealistic figure. I've not seen any Mk3's come on the market recently although I've not been looking for them particularly.
Covid has probably slowed the market down as the potential buyers probably aren't out there at the moment with job security worries. On the other hand it could be a good time to buy with less potential buyers around.

[blacktulip]

I'm hoping to find a mid 70s one for around £4000 that's road worthy which I can do bits to to make my own. Do you think those days are gone? I found a practical classics 2020 buyers price guide online and it says I should be looking at this figure. It says an A1 condition with no obvious faults is £5500.

£4000 is probably not an unrealistic figure. I've not seen any Mk3's come on the market recently although I've not been looking for them particularly.
Covid has probably slowed the market down as the potential buyers probably aren't out there at the moment with job security worries. On the other hand it could be a good time to buy with less potential buyers around.

Only issue is travelling to buy it I suppose

[johnv]

First person to post a genuine roadworthy MK3 for £4000 wins the thread ....