What's it worth?

[450SE]

Given that the prices acheived for 6.9's went into free fall when the GFC hit (and haven't seemed to have recovered yet), while the prices for parts cars seem to be going through the roof (in comparison), it got me thinking to what my 450SE is actually worth in today's market.

I jumped onto carsales to see what was available.
33 cars are currently available nation wide when searching for "Mercedes Benz" and the keyword "w116".
Ruling our any cars that had done over 200,000km (mine has done in the 170's) took the number down to ten cars and ruling our any six cylinder versions, I was left with only seven cars.

Two of these cars have to be disregarded:
76 350SE 100km $4,000 silver. Rough as guts. Not in the same league as my car.
74 450SEL 191km $5,000 green. Engine is cactus. Requires replacement.


The details of the remaining five are as follows:
74 350SE 146km $14,500 red. Immaculate
74 350SE 146km $14,000 white. Immaculate
79 450SEL 188km $9,800 silver. Appears clean & honest. Private import? (guages in MPH / KM)
80 450SEL 147km $6,500 blue. Fair to average.
74 450SEL 185km $18,000 powder blue. Claimed to be immaculate. Not so sure based on quality of photos.

All cars with interior photos show A/C controls.
An average asking price of $12,560.

In my opinion, based on the photos presented on the carsales website, I would say my thistle green '76 450SE with 177,000 documented km sits in the same league as the red and the white 350SE's.
I assume the owner of the powder blue car has snorted some sort of magical dust, if he seriously expects to get $18k for his car - particularly with such a poor colour combination.

Not too sure where I've hidden the decent photos of my car on the computer, so here are but three photos.
http://i824.photobucket.com/albums/zz163/LA1181/IMG_1453.jpg
http://i824.photobucket.com/albums/zz163/LA1181/IMG_2663.jpg
http://i824.photobucket.com/albums/zz163/LA1181/DSC_0299.jpg

I now throw the armchair bidding open (remembering that I'm not actually considering selling the car - just trying to work out what it's worth).

 

[motec 6.9]

Hi 450se there does not appear to be many good ones out there i do know a very good 6.9 with 15inch bubdt's sold at shannons last year for $9500 .And there was a very good 450se recently on carpoint dark blue in colour that was only on the market for about a week for $9990 with about 118km on it looked real good . PS i saw this car on Tuesday it really does look nice http://www.carpoint.com.au/all-cars/private/details.aspx?R=11119051&__Ntt=w116&__Qpb=1&__Dx=mode matchany&__Ns=pCar_Odometer_Single|0||pCar_RankSort_Int32|1||pCar_PriceSort_Decimal|0&keywords=w116&__N=834 1216 1246 1247 1252 1282&__Ntx=mode matchallpartial&seot=1&__Ntk=CarAll&silo=1011&Cr=10&__Nne=15&trecs=33&__D=w116&__sid=131DE5BD8D8B

 

[450SEL1979]

I recently sold a 1979 450SEL for the princely sum of $800 .Had done 380K engine and gearbox very smooth, 3mths rego , interior fair, front seats a couple of very minor splits in one panel. rear seats looked like they had not been sat on. Paint poor, rust in bottom of drivers door and one passenger door. However leaking sunroof , air con compressor failure and paintwork i figured it was too big a job for me.Even though it came with 20 years of recipts for work done. So it has found a new home.
Currently on my 6th 450SEL , i think they are very good value for what you are getting and definitely seem to last the distance with some basic regular maintenance. Seen many 32 - 37 year old Fords or Holdens on the road lately ?

 

[Styria]

Hi 450SE, what an interesting exercise and investigation. It is obviously a topic always on our minds, and I am afraid to say that, as a rule, we tend to underrate our cars. As you know, I am indeed spending a lot of time (knowledgeable) on my 450SE Goldie, and we were just recently discussing the prospective value of the car if I wanted to (if ever) to sell her and the general consensus was 'ah, you might be lucky to get, say three or four grand - not worth more than that'.

The worst part is that I seemed to sort of share that opinion, yet with twelve months rego, it really ought to be worth at least $6500.00. But, would I ever get it ? Motec 6.9 refers to a dark blue 450SE/L (?) that was supposed to have sold for $9K. odd. I saw that car, and it looked fine from a distance. Obviously very genuine, with indicated low mileage, but the owner reckoned he sold it for $6K. to a club member in NSW. Who is right, who is wrong, and I am quite confident that I am talking the same car that Motec 6.9 refers to.

I have been told that if a car is advertised at a low price, prospective buyers tend to assunme or think 'there must be something wrong with the car'. If you advertise too high, 'ah, the guy is a wanker'. I am sure we have all heard of those idioms. If I take 'Goldie' to the concours, I am going to put a for sale sign on her, for $6500.00 just to see what sort of reaction or response she'll attract. I think we should all really aim for higher figures - you can always come down, but never go up in price. Interesting topic. Regards Styria

 

[Michel]

The good ones and I mean the genuine clean and low mileage cars will bring (relatively) good money.

The tarted up ones and the high mileage, worn out cars can be had for next to nothing.

Its the state of the market!

 

[motec 6.9]

Hi Styria my bad all i know is that blue car was advertised at that price and was not around for long

 

[Styria]

Hi Styria my bad all i know is that blue car was advertised at that price and was not around for long

Yes Geoff, I know it sold quickly. The Club member that owned certainly is a gifted "salesperson", and I did in fact supply him with a timber centre console for that car. Regards Styria

 

[Tony66_au]

The key to the value lies in 2 main points regardless of its make.

Service history and Provenance.

Minor points are registration and roadworthiness (Cert supplied is a bonus and in my opinion a car without plates is worth between $500 and $1000 based on dealers mantra being that a car more than 15 years old is worth the value of the Rego remaining or $500.

Then obviously we have desirability.

 

[Tony66_au]

Then we encounter the dreadful duo, something that anyone selling a car needs to observe.

Emotion and Cash burning a hole in the buyers pockets lol

That said I've bought some dogs of cars purely to save them, some got saved and some went onto a better home at a loss or for free.

Thats Emotion at work lol

 

[Oversize]

The only things I look for are:

What is it?
How bad is it?
Can I use it?
Do I have enough space?
How much?

Then I throw that all out the window and let emotion take over!!!!

 

[CraigS]

Interesting exercise indeed. I have just gone through a similar exercise for my '74 Datsun 260z and to be honest, I still can't put a value on it. One sold recently, at a "reduced" price of $18,000 - what the original price was, I don't know - but I would put that car in pretty much the same condition as mine - some pluses, some minuses, so I am in bit of a quandary as to what to offer it at. As said, too high and the buyers don't call. Too low, and they think something is wrong with it.

 

[450SEL1979]

I am always interested in what people regard as high mileage (KMS)for cars that are well in excess of 30 years old. I average 25,000 Km or bit more each year. NRMA says that 15,000 a year is average, so I am doing a fair bit over the "average " . So if you take the NRMA figure ,my 36 year old 1975 450SEL is barely run in at 320,000 KM.
So when i see a 1975 450SEL/SE advertised with less than 200,000KM i wonder , 3rd car in a 2 person family,driven for 10 years from new then put away?. Even if the car was only lightly driven for the first 10 years , say 10K per annum. a further 100,000 over the next 26 years ??.
For cars that were supposedly the best sedan in the world when made, i would expect that a 36 year old 450SEL could easily handle 400,000 + KM
with some basic maintenance. So do not think a 450SEL should necessarily be discounted as "tired" just because it been driven regularly. I have been driving 450SELs for the past 15 years or so , currently on my sixth. Last one had done 380K , purred along as the previous owners 20 years of maintenance meant it was a great daily car. However if you want something that holds it value ...buy a Triumph Stag, They still command a good price almost 40 years after being released.

 

[Styria]

I don't know whether I would want to buy a Triumph Stag, but in reality British cars nowadays bring very decent money. Triumph TR5, probably a failure from a sales point of view was in production for only about a year and a half, and its follow up model (TR6) was no great shakes either, yet a TR5 in good condition will now start at probably about $40K.

Are there any 107s that will attract that sort of price readily ? I doubt it, yet I know which is the far superior car. Go figure. Regards Styria

 

[Michel]

In my humble opinion a well serviced Mercedes Benz should do more than 500,000 kilometres without too much fuss.

The problem is that once a car reaches its 10th aniversary, people tend to slowly ignore it

The service is not done as required, it might get pushed a few thousand kilometres. The suspension bushes that are desperate to be replaced don't get that care otherwise afforded and so on...

 

[Oversize]

I don't get it either. I think many people regard a car as old once it's travelled more than 100-150K. Try to sell a car that's done more than that and you'll struggle, unless it's something special.

Personally I think 20K per year is average mileage. Going by that, a 32 year old car should've travelled 640K. So why have most of my 6.9s only done around 250K? Maybe it can be explained:

Most original owners would've sold these vehicles under 100K to maximise their return and upgrade to something newer. Probably trading them in at a dealer.

Even on a MB, most rubber components will deteriorate after 10 years and should all be replaced to ensure reliability. I guess subsequent owners would've done a cost vs value assessment. As costs rose, they drove them less and less. They probably kept them until they couldn't cope any longer; they were taking up space, not being driven with a big bill hovering overhead and their missus whinging the whole time. Relenting finally, they probably sold them for next to nothing. With little value, the following owners couldn't care less and left them out in the weather to deteriorate for the next 15 or so years.

And then Mark rescued them!!!

 

[Michel]

And then Mark rescued them!!!

Hurray

 

[WiSeGuYY]

Lol @mark rescued them.
What about rust!!!!!!!!

Regards

tarek

 

[Oversize]

What rust??? I thought they were made that way????

 

[Tony66_au]

you know the funny thing about rust is the severity or badness is in the eye of the beholder. (And how deep his pockets are).

I saw an ex racecar that looked like it had been repeatedly shot with buckshot pellets and was so rusty and full of "Race" Repairs I doubted much would return from the media blasters.

The same car was over a period of a year returned to showroom condition right down to the tyres with the only adulteration being non genuine leaded fuel and modern air in the tyres lol.

the car was rebuilt using genuine parts and panels, some from cars we bought and sectioned and some NOS parts sourced from other enthusiasts.

Nearly 100k spent on a car that was under 3k new but with provenance and race pedigree.

Personally id have scrapped the thing and built a tribute but thats because my pockets are not deep.

 

[Oversize]

Hey Tony I have a mate with a 3.5 that needs some panel and paint work. Yes it does have some rust, but I don't believe it's a basket case! Would you be interested, or be able to recommend anyone? I think the car's in Maffra. Send me a personal message if you like...