Author Topic: Has the value of our cars tanked??? (Read 39270 times)

thegivingway · « **on:** May 27, 2009, 21:30:03 »

I just saw a very nice 69 280SL on eBay in very good condition - clean, straight, original sheet metal, both tops, tool kit, all history, and owned by the same owner since 1970 only bring $20,000! A year or two ago this car would have brought over 30k. Have the prices tanked that much?

thegivingway · « **Reply #1 on:** May 29, 2009, 12:09:24 »

Any opinions on this? I am seriously worried about the value of my car as I need to sell it soon and it looks like it is worth $15,000 less than I have in it!

J. Huber · « **Reply #2 on:** May 29, 2009, 14:22:14 »

Its hard to gauge if values have gone way down based on one sale. There have been some other good threads here about trends -- and while some cars are selling for less, the good ones will still hold their value in the years ahead (methinks)... as for that particular car, I didn't see it but maybe there was more (or less) than meets the eye? Why don't you give us a peek of your car and we can maybe help you establish a fair price!

thegivingway · « **Reply #3 on:** May 29, 2009, 14:30:09 »

Here is the link to the car that sold. I bring this one as an example, but have been watching many others and have been watching the prices off and on over the last several years. In general, it seems the same 'type' of car that was selling for 30-35k is now in the 20-25k range. I mostly monitor cars in this range as this is where I believe mine is - a nice car, but not a show winner.

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=230344307815&sspagename=STRK%3AMEWAX%3AIT&viewitem=

Andres G · « **Reply #4 on:** May 29, 2009, 16:12:34 »

I believe the car in the listing belongs to another forum member (gauchoamigo) and his for sale posting is in the For Sale section of the forum. You may be able to find more information on it and to understand why he chose to sell at a certain price.

I do not believe the value of our cars is going down, like James said before, the good ones will still bring good values.

What are the specs of your SL?

Andres G

thegivingway · « **Reply #5 on:** May 29, 2009, 16:26:13 »

My car is a Euro model that states 1969 on the title (someone told me it is not a 69) has undergone extensive restoration, not that that is a good thing. Here are some photos of the car. Let me know what info you need to discuss what it might be worth. Mostly everything is redone, rebuilt, or restored and the car does have quite a few flaws.

http://s213.photobucket.com/albums/cc167/soldinten/1969%20280%20SL/

J. Huber · « **Reply #6 on:** May 29, 2009, 16:30:24 »

Ok. I take that back -- I have seen that car! Well, the first impression I get is: Scott's (Gaucho's) car is a nice, decent driver. I'd say that 20K is on the lower end of what it could sell for but not outrageously low. I'd say that the Pagoda-zestimate for it is at about 18-25. I also get the impression Gaucho was in a hurry to sell his car -- he could have held out for more but sometimes life gets in the way. Someone probably got a good deal.

France · « **Reply #7 on:** May 30, 2009, 16:35:36 »

giving,

Have you thought of shipping the car to England (Silver Arrows at www.silverarrows.co.uk, or Silchester Garage at www.silchestercars.co.uk)? Both deal in daily drivers, and you will get much more than you would in the US. Average cars are going for at least $37K from these dealers. Just a thought... good luck!

Raymond · « **Reply #8 on:** May 31, 2009, 00:08:22 »

James is right. It depends on who is selling it and how big a hurry they are in. I was at the Techno-Classica in Essen in April and a guy had a 1969 5-speed for sale. The car was not nearly as nice as either of the cars pictured in this thread. It had bad spots on the paint, the interior wasn't clean, the chrome was worse than most. That guy wanted $40,000 Euros. In fact all of the prices in Germany seemed to be higher than I thought reasonable. There were at least 20 Pagodas for sale and they were all pricey. (The only "deal" I saw there was a 1963 Corvette for 55,000 Euros.)

JamesL · « **Reply #9 on:** May 31, 2009, 10:40:38 »

Essen in April is a price spiking opportunity for anyone with metal to sell...

Bob G · « **Reply #10 on:** June 18, 2009, 20:36:07 »

When I want to check out the values of the Pagoda W113 I read john Olson's SL market letter, Sports car collectables an on line publication covering the auctions and other cars. also Gerty's cars that matter price guide.

While these publications are only indicators based on market value . that does not preclude original well maintained low milage cars and well restored ones as well. Most of the pagodas I see for sale are a work in progress cars some cosmetic work like paint and interior that have been done to dress up the car for sale. but like used home their is likely to be repairs needed in the future. SO price indicators are not truly factual if you have a special car that exceeds market valve it would truly be of intrest to special parties willing to pay extra for original will keep cars with a history they can track .

I was watching the kenington Brigehampton , New york auction June 13, 2009. One 1969 280SL sold for 45,100 euros a 1965
220SE Cabriolet sold for $82,500 euros. I think that is $125.00 USD. A lot of money for a 220SE Cabriolet. more so than a Pagoda .
I have a feeling as these cars reach a senior level in the classic car market that more original and well restored exsamples will command
higher market value. the fact that a number 4 to 5 car sells for $35,000 USD most people who are not familiar with these cars have little or no idea of the expense it cost restore these cars to like new condition. They are always publicized in many British automotive publicatications
as an affordable and reliable option to a Ferrari or other exotic marques. What is not said all the time is the problems and cost involved with ownership. going on forth and fifth generation of owners.
Bob Geco

JOS · « **Reply #11 on:** June 18, 2009, 21:06:28 »

The SL Market Letter has been charting price trends on our cars for many years.

If you are seriously thinking about selling your car, consider checking out The SL Market Letter.

John O. Salazar

benzportland · « **Reply #12 on:** June 19, 2009, 17:32:26 »

That price does seem low, but not for Ebay. Ebay generally draws low bids because 99 percent of the buyers are bidding without seeing the car in person. If, as here, the seller had a low reserve or no reserve, then it will happen to sell. On a side note, I have always thought 280s are overpriced when compared to early 230s, especially when you consider the main changes were a result of higher emissions standards.

glenn · « **Reply #13 on:** June 20, 2009, 21:23:03 »

What effect will the present administration's attack on the AUTO do to us? I get 25+ mpg on a '86 MB 190E. This is probably better than a '40 mpg EPA' rating(bogus). We old car fans have to unite and fight this crap----. .. Is it better for the environment to continue driving an old car or subject the environment to the costs of building and disposing of a new one? Don't think all those batteries, etc are good for Mother Nature.

J. Huber · « **Reply #14 on:** June 21, 2009, 15:00:25 »

Hey Glenn. I was at the local health club once (in Nevada City - bastion of environmentally-conscious folks...), and a guy asked me about my car. A common thing as we all know -- but I could tell his angle was slightly different. He asked about emissions stuff. I said -- "none! ain't that cool"? He went on to pontificate that my car was the equivalent of 20 modern cars or something as far as pollution... I said, yea but sure does enhance the scenery...

A Pissy Pagodaless Pontificater?

glenn · « **Reply #15 on:** June 21, 2009, 17:39:59 »

Emissions---?? H2O, CO2, CO, N stuff, S stuff and whatever fuel is unburnt leave thru the exhaust valve. On my 230SL it goes thru the exhaust to the atmosphere. On newer cars with catalyst converters the unburnt is burnt to h2O, CO2, etc. The elements are just converted to other chemical compounds. Which are worse for the environment???

Still maintain my 230SL as a second car is better for the environment than the life cycle costs of me buying a Obamination Crapola.

dsve_ayars · « **Reply #16 on:** June 21, 2009, 19:07:32 »

Count your blessings, your car is not a Rover TC2000. This is a car that's a hundred times more fun to drive than an MB 113 and its value in the US is now approximately zero dollars. It became pointless to put any more of my limiited time and money into it when the same time and money would at least pay for themselves put into the MB. So I decided just to give away the Rover and found there was actual competition among owners to do even this. I was lucky and found a good recipient, but something like an animal shelter should be set up for them.

Another thing to keep in mind. The value of all luxury items has tanked somewhat recently. Wait till the recession ends.

dtuttle123 · « **Reply #17 on:** June 21, 2009, 20:45:05 »

Rover TC2000 - that was my first car!! I sold it for a profit - 35 years ago!

But don't compare the Rover to the W113 - you'll bring the wrath of the site upon you!

treedoc · « **Reply #18 on:** June 22, 2009, 12:17:23 »

Depends which model you own, if it's an R129 then you are tearing up bundles of 100$ bills very week, if it's a W113 in good condition you have little to worry about.
The attached price list I picked up about a month ago in a used car yard in Switzerland

PS I own both a 129 & a 113 so hopefully they will balance each other out over time privided the 129 dosen't self distruct.

Dahlknudsen · « **Reply #19 on:** June 23, 2009, 11:51:09 »

Quote from: thegivingway on May 29, 2009, 16:26:13

My car is a Euro model that states 1969 on the title (someone told me it is not a 69) has undergone extensive restoration, not that that is a good thing. Here are some photos of the car. Let me know what info you need to discuss what it might be worth. Mostly everything is redone, rebuilt, or restored and the car does have quite a few flaws.

http://s213.photobucket.com/albums/cc167/soldinten/1969%20280%20SL/

Hello
I saw your car for sale on Ebay last fall right! Well anyway at that time I took the liberty og downloading one of the images on your auction and the last week I put it on my webpage to illustrate the difference in look between a Euro and a US model of the car.

I hope you dont mind, if so please let me know and I will remove the picture as soon as possible.
see the bottom of this page: http://www.mercedes280sl.dk/Beskrivelse.html

Please forgive me for stealing the picture of your nice car...

66andBlue · « **Reply #20 on:** June 24, 2009, 21:25:42 »

Quote from: glenn on June 21, 2009, 17:39:59

... Still maintain my 230SL as a second car is better for the environment than the life cycle costs of me buying a Obamination Crapola. ...

Glenn,
soon you'll have to buy a MerTesla, or TeslaMer!

See the press release at: http://www.mbusa.com/mercedes/#/press/
German automaker acquires nearly 10 percent of one of the leading electric vehicle companies
Automakers agreed to cooperate in battery systems, electric drive systems and vehicle projects
May 19, 2009

tom.hanson · « **Reply #21 on:** June 24, 2009, 23:31:41 »

I've seen some bargains out there, but I think it's directly related to thsi terrible economic downturn. Some unfortunate folks have been forced to generate some quick cash, and they sell cars, boats, planes, RVs, etc, at bargain prices. I think things will stabilze once things settle down a bit. The exceptional cars are still bringing top dollar.

cascadia · « **Reply #22 on:** July 02, 2009, 19:10:08 »

The ebay car looked like a pretty decent example with a few issues, 20 is probably a good price. I've sold 2 in the past 6 months, both sold for around 34, 2 years ago they would have both brought high 30s. Both were sold at no reserve on ebay so that might be a good indicator of market value. I think the market is off by about 5K. Good time to buy a collector car.

Tom Colitt · « **Reply #23 on:** July 11, 2009, 17:47:49 »

I think the guy that bought the car in question got a very nice car that I would have bought at that price. Note the very original light looking semi-gloss finish of the dah wood.... I was questioned by judges at recent car show for having "unfinished" wood similar to this....

Best, Tom

ctm14 · « **Reply #24 on:** August 05, 2009, 19:57:34 »

What are everyone's thoughts on this topic at the present time. I know if you own a car you are hesitant to aknowledge a softening in the value of these cars. I would be challenged if I was on that side of the fence as well. I also aknowledge that most of the members love their cars and are not interested in selling so value is just a number. In my situation as I search to buy I am more focused on not overpaying and continue to see cars not selling or selling at lower prices. The two examples below are the two most recent examples that cause me to refresh this topic. Thanks for your feedback.

http://cgi.ebay.com/ebaymotors/CALIFORNIACLASSIX-Celebrity-Owned-1969-Mercedes-280SL_W0QQitemZ160352226485QQcmdZViewItemQQptZUS_Cars_Trucks?hash=item2555bcccb5&_trksid=p4506.c0.m245QQautorefreshZtrue

http://cgi.ebay.com/ebaymotors/1-Owner-LOW-MILE-Pagoda-W113-California-Never-Rusted_W0QQitemZ180388073264QQcmdZViewItemQQptZUS_Cars_Trucks?hash=item29fff78f30&_trksid=p4506.c0.m245

News:

Author Topic: Has the value of our cars tanked??? (Read 39270 times)

thegivingway

thegivingway

thegivingway

thegivingway

Bob G

JOS

benzportland

glenn

glenn

dsve_ayars

dtuttle123

treedoc

Dahlknudsen

tom.hanson

Tom Colitt

ctm14