1978 MG Midget Mk IV

2dr Convertible

4-cyl. 1493cc/50hp 1bbl

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$8,000 CAD*

-9.1%
#4 Fair condition#4 Fair
Value Graph01/2404/2407/24$2k$4k$6k$8kOct 2024

Forecasted valuesBeta

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1975-1980 MG Midget stats
Highest sale
$25,788 CAD
Lowest sale
$2,630 CAD
Most recent sale
$27,781 CAD
Sales
74

Photos

1 photoImage may not reflect selected vehicle.

1977 MG Midget 1500 Convertible. Courtesy Mecum Auctions.
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Model overview

Model description

Faced with falling horsepower due to emissions regulations, British Leyland fitted the final MG Midget Mk IV with the 1493-cc Triumph Spitfire engine in 1975. The car was simultaneously raised to reduce the likelihood of damage during a crash, and the car gained huge rubber safety bumpers at both ends. The bumpers added weight, and performance of the Mk IV is slightly less than earlier versions of the car. U.S. cars were fitted with a single Zenith carburetor and had a top speed around 80 mph.

Even though sticker prices had reached $4,150 in 1977 (nearly $1,500 higher than 5 years earlier), sales lingered on until 1979, when the last Midget left the factory. Some cars went unsold that year and were titled as 1980 models. The Mk IV closed the 20-year run for the car.

Good examples of Mk IV Midgets can still be found at the back of garages in better neighborhoods where they were a popular second car for sunny days, but time has not been kind to those living on the streets. Finding bone stock rubber-bumper cars is becoming increasingly difficult as many owners have opted to rebuild their Midgets with chrome bumpers from earlier cars. As always, look out for rust and check the front suspension is stiff, without having tube shocks fitted. The lever shocks are also on the top a-arms and if they’ve failed, the suspension bushings are worn out too. First gear should be quiet, which is uncommon in most cars now. Prices for the MG Midget are remarkably cheap, and represent one of the most economical ways to get into vintage motoring.

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Common Questions

The value of a 1978 MG Midget Mk IV can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $5,900 USD for a 1978 MG Midget Mk IV in good condition with average spec.

The highest selling price of a 1978 MG Midget Mk IV at auction over the last three years was $15,037 CAD. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.

The lowest selling price of a 1978 MG Midget Mk IV at auction over the last three years was $6,540 CAD. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.

In the last three years there have been 5 1978 MG Midget Mk IVs sold at public auction.

The most recent auction sale of a 1978 MG Midget Mk IV was $12,791 CAD on June 30, 2024 by Bring a Trailer.

Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.

Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.

Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.

The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.

All prices shown here are representative of stock condition vehicles only and based on various data sources, as detailed in About Our Prices. Value adjustments for optional equipment are in U.S. dollars. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.CA/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of the Hagerty Group LLC, ©2024 The Hagerty Group, LLC. All Rights Reserved.