Date registered: Jan 2013
Vehicle: 90 350SDL, 98 S420, 97 SL500, 94 S420, past owner of W108/W112/W114/W123/W124/W126/W140 & W220 cars
Location: Tampa, FL
Mentioned: 8 Post(s)
Quoted: 606 Post(s)
I assume it's a salvage title because the insurance company totaled it?
The problem you are going to encounter, no matter how well you repair it, is the salvage title. Since you are flipping it (and I'm not saying that in a critical way, I understand it's a business issue) unless the person knows you or your reputation there will be a modicum of skepticism from any potential buyer.
Even so, the salvage title will knock a significant amount of money off the value. KBB, which is not my first choice for used car values, says the car in good condition is worth roughly $9000.
In my market on a good day it would be worth maybe $5000, possibly $6000 if it presented well. No telling what a salvage title would do to that number, but it definitely wouldn't help. Doing an eBay auction would bring out the bottom feeders and maybe get you a decent price, but again, the salvage title, no matter how well you explain it, will disqualify you for a large percentage of buyers.
I feel confident in my assessment, as I have bought a number of cars with salvage titles and currently own two (both MBs.) Both were insurance company "totals" that the owner bought back and repaired. I know both of the former owners and the cars, so I had no problem buying them. One of them (my 95 S500) languished on CL for months between $5k-$6k with absolutely no takers. Even those who looked at it stated that the salvage title was an issue for them. And the owner had full documentation to prove his story, complete with photos. I won't say what I paid him, suffice to say it was no where near his asking price.
Long story short, keep your expectations low and hopefully you'll come out of this OK. If you can do the repairs inexpensively you can probably turn a decent profit. If not, you're going to be upside down out of the gate.