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Fair price for a W116?

Started by marku, 05 February 2012, 11:02 AM

marku

What's a fair price? Is it just how much you like it +/- condition or is there a rough market price? Having got tired of waiting for my rebuild to finish and wanting to get out on the road in a W116 I was tempted by a local 450SEL on ebay here. It has been on offer for some time and was briefly discussed on the MB Club forum but had got no takers. Looked great on ebay but when I went to see I found it in the back of the dealer's warehouse thick with dust. Still thinking of the online photos and after bargaining got him down to what I thought a fair price subject to seeing it washed and in daylight. Went back again to find that up close it was not that good, poor paintwork, some rust perforation, needing a respray and some interior missing. It wasn't worth what I had offered and told him so! He insisted it is a rare classic and it is back on ebay, if any one wants a look the photos still look good, at an increased price 50% over what he had originally priced it at.
1974 450SE silver green/bamboo velour/green vinyl roof

adamb

Hi Marku,

At that price I'd expect it to be complete and not in need of a respray. Though I would expect it will need some mechanical work and not be completely rust free. Rust can be handled. The biggest problem is getting a complete car because getting the missing bits can be a real bother. This dealer might strike lucky but then again he may need to wait for the right punter. Bear in mind that we are in economically more challenging times and very few people want a fuel guzzler when fuel is US$2 per litre in UK. Having said that the price is relatively arbitrary as it's based on how much you want it. BTW, the rear bargains nowadays are in W126 territory. 1500 quid secures an almost rust free complete example.

Good luck,
Adam

Hemersam

Seeing a car "up close" almost always brings a certain amount of disappointment, although there are, of course, rare exceptions. Photos can be VERY misleading at times. What's that old saying? "Seeing is believing." Amen to that.
Hemersam

marku

#3
Yes I quite agree but although criticising the dealer, the car looked really good online, my point was there must be a going rate for the 116 like all others and the dealer seemed to have an inflated idea of its value. It would be a great help to have a rough idea of a market price and I wondered what had been the experience of other forum members. We may value the car but there is at yet no great demand for them particularly here with the price of fuel and that I think I am right in saying that the 116 was never popular here unlike the SL. You only have to look at the membership of the Mercedes-Benz Club.
1974 450SE silver green/bamboo velour/green vinyl roof

adamb

I will venture £2500 as being fair for a car that's been serviced, with good interior, MOT'd, driveable and not in need of urgent bodywork repair. A good 280SE will probably fetch more as it is more economical and useable as a day-to-day car. 6.9 is more for rarity and relative performance. Perhaps you should compare with what JohnnySomersett got for a grand...

littlefin

Like the saying goes - an item is only worth what someone else is prepared to pay for it.

I believe these cars are appreciating in value - slowly - but as you say W116 was never that sought after in the UK, possibly due to cost when new. Good cars are achieving reasonable money at auction now:
a 280S sold at Barons Car Auction for £4100- (+ comm) in December 2011
a 450SEL sold at Anglia Car Auctions for £6500- (+ comm) in November 2011
http://www.angliacarauctions.co.uk/classic-auctions/results-november-2011.aspx

Obviously these were good examples well looked after & with history etc

There is also the low mileage Icon Gold 280 SE on mercseller at £5,500-

I assume you are talking about the silver 450 SEL on eBay? The upholstery looks weird to me. There's also a Gold 350SE for sale by the same crew - but I believe that one has mechanical issues...(there is something about that car on the MB club forum). 

I've seen goodlooking 6.9's advertised between 10K & 20K - but that's a slightly different market I would say
110011 1967 230
108057 1972 280SE3.5
116024 1979 280SE
126037 1983 500SEL
124030 1989 300E

marku

Thats all very encouraging. Yes it is the same and its price seems to fluctuate - it is cheaper on Autotrader although I think his son listed that! The upholstery was OK I thought but bits of the window trim was missing and the cover on the rear parcel shelf.  As I said it is a very different car up close I think the problem the dealer had was that he had paid  £4000 for it in 2010 convinced it was a 'rare classic' and was not prepared to take a loss. The gold 350 is also theirs which he described as rough but still wanted £1600.
I hope that interest will continue to increase - perhaps the MB World meeting will be the start.
1974 450SE silver green/bamboo velour/green vinyl roof

littlefin

Hi Mark

Just spotted a 280SE on ebay for £2750 - its in Penzance though!

Cheers, Phil
110011 1967 230
108057 1972 280SE3.5
116024 1979 280SE
126037 1983 500SEL
124030 1989 300E

mirafioriman

Just been looking at it. I like the colour but if it was mine the white roof and wheels would have to go ;)
I'm called Dave! I currently own: Mercedes W116 450 SEL 6.9, Mercedes W109 300 SEL 6.3, Mercedes W126 420 SEL, Fiat 130 Berlina, Fiat 131 Supermirafiori, Fiat 131 Panorama, Fiat 132 2000, Fiat Argenta and a Citroen Xantia.

marku

Hi Phil

Too far and the engine too small. Chose the 450 because of the engine (and quite happy with it) never having seen a 6.9 for sale. The roof must be a DIY as I don't think it was ever an option although mine actually has a vinyl roof! I do think it would be a great help generally for sitings to be listed with their prices it might even encourage a more active market.
Mark
1974 450SE silver green/bamboo velour/green vinyl roof

littlefin

Hi Mark

Don't discount the 6 cylinder engine out of hand, it is more powerful than you might think. I was pleasantly surprised by the power delivery from the M110 engine - it is a fabulously well balanced piece of kit, and a lot lighter than a V8 lump. Also as the engine was widely used in different MB models the parts tend to be cheaper/more easily available. One of the problems with 6.9 ownership (I believe) is that because it is rare, parts for it can be very costly.

The 280 also has a useful fuel advantage over the V8s in these austere times - 20+ MPG!  ;D

Looking forward to meeting you at Brooklands

Phil
110011 1967 230
108057 1972 280SE3.5
116024 1979 280SE
126037 1983 500SEL
124030 1989 300E

adamb

Agreed with Phil - a sorted 280 is a delight in itself. A 280 and a 6.9 - that's the best combo IMO. :)

At the risk of hijacking the thread I want to pose a question. Is an increase in value of W116s actually good for us enthusiasts? I am not trading these cars. So being able to buy a 6.9 for a few grand and get a parts car for a few hundred is actually good for me. I've spent many more thousands on my recent respray. I "enjoyed" it but as my car will run for few years yet I don't feel bad. After all depreciation on a new car is astronomic so I feed that I'm getting a new car for a lot less. Anyway, that's my moral justification.

Cheers,
Adam


marku

Hi Phil

Not dismissing the 280 at all - the one on ebay looks good complete with its vinyl roof. Its just a personal preference of mine for large engines  Had I been  able to get a 6.9 that would have been my choice although I now know of the difficulties of working on it so perhaps my choice of the 450 was fortuitous. Indeed I have to admit that not too long ago it would have been a XJS V12 but again it was lucky that I was  converted to Mercedes.

Regarding value I agree that we would not wish to be priced out of the market but increased interest would surely bring other advantages. I originally thought that a knowledge of current market prices would be a great aid to us and anyone wanting to acquire a 116 rather than having to bargain without having a benchmark price.

Mark
1974 450SE silver green/bamboo velour/green vinyl roof