Has the poor economy reduced the value of collector cars?
Good evening everyone.
I have owned a 1980 450sl for a few years and never intended to let it go. I did however come across a 1988 560sl with 26k original miles and couldn't pass it up. It wasn't realistic to keep both cars so I decided to sell the 450sl.
I have invested well north of 20k in this car including new paint, top, interior and a great deal mechanical work including new steering box, frame bushings and rear springs. . I have watched the sale price of these cars over the last few years and a rust free car of this quality was seling last year in the neighborhood of 14k to 18k.
I offered the car on both Craig's list as well as this forum at 12k and got not response from either ad. I guess that many would consider these cars to be nothing more than expensive toys and are possibly the first casualty of people having less disposible income.
I am ready to take a major loss on this car but how low will it go?
It comes with two sets of rims (Original & ronal r-9) both with new tires.
New paint, seat covers, carpet, visors, wood trim, bumper covers,
all new front end (drag link, all rubber parts),
Trans & engine mounts, new a/c comp & servo and way too many other things to list.
If anyone is interested I would much rather drop my price to a fellow enthusiast than from some vultutre on Ebay.
I'm thinking maybe 10K? any advice would be appreciated.
Collector cars - how about the value of cars in general?
What was once part of the American dream has now become a financial drain and a PITA. I think people are going to be driving less and enjoying it less, too, at least for a while - and it's a damn shame.
Just look through the newspaper, and you will not believe what 2-5 year old cars/SUV's that are NOT Lexi are selling for.
I have a friend with an 01 S500, <60K mi, drop dead mint/all records with a warranty, who can't get 19K for it. And for what it is, the gas mileage isn't that bad. It's going to be like home values - the higher they were, the bigger the fall.
I drive my 380SL every day, and as long as I do repairs myself and get parts at good prices, I'm still good money ahead on a new 30MPG car that I probably won't like anyway.
Location: Serbia, South Africa, Australia, Jamaica... actualy ROTW!
Posts: 652
Before I was united with my Bozana (see avatar info on car), I considered money I paid to the 1st owner a comlete loss. Before I purchase any parts, I make sure that money I intend to spent is considered lost.
It helps a lot.
Should I ever have to part with my Bozana, the loss would be purely emotional, not a tiniest pinch would I feel a money loss as I felt thet loss beforehand, willingly.
Money cannot buy happiness... until you find your dream 107... and bond with it... it leaves a few scars on you... you go trough heaven and hell... mostly heaven
Wish you all the best in finding a new home for your beloved... If it would be easy to transfer that car to Europe (and get it registered) I'd gave it a thought.
It would help if you gave link toward Craigs list ad.
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If you have nothing but a hammer in your hand... everything looks like a nail.
If you can afford to keep both cars, why sell the one that was all done up and you know inside out . It is hard to find a car that is in compliance to your standard. A low milege car is not a guarranty that it is a good car.
2 roadster = double the fun
What do you think my 1972 350SL 4.5 is worth in today's market?
It certainly looks splendid from here.
What it's worth and what the appraiser says may be quite different things.
Appraisal values always seem to be higher than real-world selling prices.
A high appraisal is flattering but all it really does is raise your agreed-value
insurance premiums.
I'd say C$14,000 is realistic.
Your original question refers to collector cars. I don't believe our 107's fall into that category. Of all the variations on the 107, the only version that comes close might be the AMG models. All others are just potentially nice, much admired cars to enjoy as we see fit. As a high quality convertable roadster (sorry SLC'ers) the 107 will always have a following, and will always be saleable. Condition and mileage will continue to be the variables determining value. What you may have spent to improve a given cars condition is unfortunately irrelevant. If it has high mileage, it will always be worth less than a low mileage variant, condition being equal.
All this being said, if your car is equal to its description, $11-13k should not be out of line. This is also what I believe the same car should have brought last year. $14-18k was unrealistic, imho. Value-wise, all things being equal, AMG is at the top, followed by 560's. Euro 500's might be next, followed by all other variants. In the current climate of soaring fuel costs, 280's, 300's and possibly 380's might benefit. Any M-B forum is probably not the best place to advertise- most attendees already have one. Craigslist- hang in there. I've had good luck, but it usually takes time. Ebay will give you national exposure, and if you photo document it well, you may reach the person that has to have your car.
After all this blather, the bottom line is that you seem to have the car you want, and if you can afford to wait a little, your 450sl should find a new home for $11-13k
I think that the stock of double-timing chain 380's (particularly the 85) has gone up as well as the rare 280 graymarket 107's, and the 560's has gone down. Let's face it -almost any decent modern car can outrun either, and there is no question that the 380SL is cheaper to own. I can tell you which one I drive more these days.
BTW, the missing cap on the side of the passenger seat - a $30 US part - would make a big difference in my impression of the car if I were appraising it. Not criticizing here, just observing. I am sensitive to criticism on my cars!
BTW, the missing cap on the side of the passenger seat - a $30 US part - would make a big difference in my impression of the car if I were appraising it. Not criticizing here, just observing. I am sensitive to criticism on my cars!
The car you are referring to is Graham's car, with the new carpet, not the original poster's 450sl. FWIW, I agree about the chrome covers- I'm sure he'll get to it!
If gas prices keep going up the 380sl may become worth more than a 560sl. Wouldn't that be ironic.
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I will enter my appraisal estimate at around $14K. Real world price you might be lucky to get $10-12K. Even in Canada we're starting to see 560's selling for around $10K. Last year the floor was around $15-18K.
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