Originally Posted by bgoin
So how much do you think an "outstanding" 1993 500E with 200K miles would sell for?
Edmunds has it listed as $6,713 for "outstanding" condition with 200K miles, so why would someone do the above maintenance, he can maybe unload it to someone that does not have your knowledge.
Edmunds or KBB numbers for a 500E are not relevant as the pool of cars is just too small to provide an accurate analysis of market value.
A 200K car without issues - any issues - is anywhere from $8-12K depending on region, color and just how "outstanding" is judged at 200,000 miles. As these cars get older, they are getting more rare but also more miles on them. We are seeing sub 100K cars in the $20-30K range in very good condition.
Restored condition cars, where all is done to bring the car to drive/restored are bringing good dollars, even with the miles as the body is solid and there are only a few, easy to address problem areas on the car.
As an example my Bornite car is worth more due to rarity of color than 199 [which had nearly 50% of all 500Es in the US]. On the other hand, folks like the 199 Black Pearl so it is easier to sell.
To answer your question better, the owner should be doing the maintenance as it comes up, because now that it is crunch time, he is in a situation where he SHOULD disclose known problems to any buyer. Oft times, on internet sales as example he is required to do so or the buyer can back out of the sell. He has put himself in a position to either do some of the work or take a hard hit on the sell price of the car.
Frankly, I don't know how I would try and price this car if I were trying to buy/sell it. Someone is going to get screwed on this deal, no matter what decisions are made.