CASHING IN
I’ve sold more than 50 Minis for a total of £700k – here’s my tips to make profit
The car was made globally famous by the iconic sixties film The Italian Job
ONE man who has sold 50 Minis for £700,000 has top tips if anybody else wants to begin wheeling and dealing.
Phil Mires, 29, is a Mini trader despite being born 36 years after the iconic British motor was.
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Starting in 2021, the Surrey entrepreneur has built a business selling the icons and has already sold more than 50 of them for a total of £700,000.
Phil launched his first successful online company at aged 19 and was inspired to launch his latest by his love for the sixties flick The Italian Job.
His business focuses primarily on limited edition, rare and highly sought-after examples from the latter generations of the car.
He personally drives a 1994 John Cooper S conversion which had only had one previous owner and 7,695 miles on the clock when he bought it.
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Phil told the : "Most of my buyers are collectors and enthusiasts, as well as people reminiscing about learning to drive in a classic Mini, or fondly remembering a Mini that a relative once owned."
His client list is continues to grow as prospective buyers reach out asking for particular makes and models.
The trader then hunts around for them, saying only 10 per cent past muster, and calls the buyers and informs them of the stock.
He says the parts needed for classic Minis are cheap and readily available and they can be easy to maintain.
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He said: "Thanks to their ingenious design and configuration, they are surprisingly spacious within. I should know, I'm 6ft 4."
Phil said many enthusiasts and people that get in touch with him like the car for its nostalgia factor.
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He said: "I fondly remember my mum's black Mini Mayfair, named 'Matilda', from when I was a young child.
"It was a shame when she sold it to buy a Metro, and my mum was deeply upset as Matilda was her first car and she'd developed a bond and created a sense of personality for the car."
Phil has also shared his tips with how to buy a Mini.
Firstly, he advises buyers to be picky.
Phil said that rust is his biggest issue when buying a new car and he will make doubly shore that the motor is in tip top shape before he buys it.
Another thing he does is check the car's online MOT history record to try and gauge how old and where it might have been.
He says that if there is any sign of corrosion prospective buyers are deterred straight away.
Customer are looking for original condition motors in great condition, rather than heavily restored ones.
If you're looking to be a trader, Phil says the Mini's with the most value are the rare versions and those with the most desirability.
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One rare red Mini inspired by The Italian job sold for only £5,250 despite being one of around 150 left in the UK.
However, on rare Mini that was abandoned in a shed for decades has sold for more than £52,000 at auction.
History of Britain's most beloved car
The Mini was initially made during the 1950s and 60s by the British Motor Corporation.
Performance versions, the Cooper and Cooper S, became well known with wins in rally races and features in films like The Italian Job.
Since 2000, BMW has been producing its own influenced version of the Mini, but the original run of the motor ended in 2000.
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