My 1992 500E For Sale........ - Page 4 - PeachParts Mercedes-Benz Forum

placo1 · #46 06-22-2004, 01:32 AM

Hi Mike,

Andy's car definitely looks nice and the mileage is right although you know that I'm strongly considering a smaller/lighter toy to replace the 500E altogether. I won't buy another 500E until I build a larger garage which won't be for a few years, but don't tell my wife that! .

Regarding the wiring harness I can install it, it won't take more than a few hours on a Saturday to get it done although I'll probably clean more of the engine as I go so I'm sure it will take a little longer. The aftermarket warranty does not cover this unfortunately, actually they don't cover any of the wiring but they do cover power windows, sunroof, and other electrical accessories. The aftermarket warranty also covers the engine, timing chain, A/C, driveshaft, water pump, oil pump, fuel pumps, power steering pump, transmission, differential, brake calipers and many other items. The warranty is transferrable to the new owner and is valid until March of 2005. I can fax a copy of the policy to you if it helps. It also provides $25/Day rental reimbursement for up to four days. Funny thing is I haven't used the warranty yet.

#47 06-22-2004, 09:13 AM

Hi,

I figured that I would add my 1.9 cents to the discussion, having a 1994 040 for sale on Autotrader.

There appears to be considerable variance on 500E/ E500 pricing. Even though the books appear to value a 94 with 60k miles on it at only $24k or thereabouts, I have not seen many decent examples for that little. The nicer cars are priced at over $30k.

Having worked in the automotive financial services industry for a year or so, I have begun to understand how analysts at the books get their values. Usually, they have little appreciation for a vehicle, yet apply standard formulae to calculate valuation. Supply/ demand factors little in the calculation. After all, show me how you can model in an equation, the fact that the 500E is the most collectible road-going MB made in what, the last two decades?

I am certainly seeking top dollar for mine. How many other 040 E500s are there for sale with only 60k miles on them? Also, how many other cars are there with 40k miles on them? Not many? Now arguably, demand, based upon my observations of Autotrader may be less than supply, which would force me to reduce price, but certainly not to $24k. Low thirties seems about right for a decent 93 or 94.

Feel free to disagree...

Regards
farrukh

1994 E500 040 Triple Black, 59.9k
1995 E420 Sapphire Black Limited Edition, 66k
1995 E320 Pearl Black, Sportlined, 79k

Mike McDonald · #48 06-23-2004, 12:00 AM

The true value of your car is always what someone is willing to pay for it and you can sell it. I have been down that road many times and in fact i have A 560SEL that I have put many hours into and dollars into fixing every little thing and polishing it until my arm has tennis elbow, so I sure feel and know its worth a lot more than any one else thinks it is, because we all know the time and effort that we put into our cars. But thats part of the fun and part of reality that we dont get as much for our cars as we think they are worth, and we pay more than we want. I know if I ever added up all I spent on a car I would feel a lot worse. Its a great hobby with great cars and there are sure of a lot worse things in this world to spent our time and money on, at least thats what I tell my wife. Mike
Your right I just looked at Auto trader and there are 34 E500 and 500E listed all over the board and I'm sure there is some junk and some great ones in the group, and everyone feels that theirs is priced correct, and maybe it is, as I stated the correct price is what someone will pay for it and step up to the plate and actually buy it. Lot of options out there. Mike

placo1 · #49 06-23-2004, 01:15 AM

Well the 500E is definitely slated as a future collector car although I think it's too early to place it in that category. It seems MB's don't become collectable until they have reached the 20 year mark and only then does the value start to appreciate. That means the 500E prices MAY continue to drop for the next 4 to 7 years. But if your buying this car to make money you're obviously buying it for the wrong reasons, at least for the time being. You should be buying this car to enjoy it for what is offers, it's pedigree and the opportunities it can provide.

As far as current values, as Mike said it realy does come down to having a buyer who is looking for exactly what your selling. When I bought the 500E I paid much more than the market value for these cars because I wanted a nearly perfect example. There were plenty of other cars available with similar miles that were offered for much less but in my mind I had already decided to buy THE BEST example I could afford.

I agree that an excellent condition 500 (in my terms) is very hard to come by and IMHO low mileage does not equate to a good condition. How the car was used and cared for is far more important than mileage. I've seen 100K mile cars that look better than 30k mile cars. If a car has 15k miles for example and was used as a track car for most of the miles I would guarantee that engine, transmission, suspension and paint on that vehicle will be in very rough shape. Now if another car has 70K miles on it, used only on Sunny day weekends and was cleaned, maintained and covered the rest of the time that car will remain nearly perfect. The question then becomes, what do you as a buyer really want, a fixer upper or a turnkey package.

I've thoroughly enjoyed owning the 500E, not only is it a great driving car but I also appreciated the build quality and the engineering that went into it. At this time in my life I'm just ready to try something different and it makes sense to sell the car. As I've mentioned before I probably will buy one again when I have more space and time to get back into Concours.

placo1 · #50 06-23-2004, 08:51 PM

I'm reducing the price again, it's down to $28,700. Price will not include the trophies and Billboard but it will include replacement of the Wiring Harness.

placo1 · #51 07-19-2004, 12:33 PM

Bump

cj750rock · #52 07-19-2004, 01:41 PM

No response?

placo1 · #53 07-19-2004, 01:54 PM

Two possibilities at the moment...

Mike McDonald · #54 07-29-2004, 12:22 AM

Afshin, the wife doing, if I remember you were going to have an addition about this time. I didnt have much luck on selling my 560 SEL but am still trying!! How did you do on your 500E ?? is it still for sale? What are you asking for it now, and did you replace the wiring harness?? I cant seem to get people interested in an older car when they can buy new with big discounts and no interest and 0 down or cheap leases. Its a tough market, 6 years ago I sold a 300TD and a 300D within 2 days. Are you still moving to Maine? I'm going to the Pebble Beach Concours in a couple of week any chance you and your car will be there? Mike

placo1 · #55 07-29-2004, 12:51 PM

Hi Mike,

My wife and our baby are doing great! Nicolas Alan was born last Wednesday night, there were some complications at birth but everything was fine after a couple of hours. It definitely makes for a tiring stressful experience though.

The 500E is still for sale, I've decided to hold the price firm at $28,700 with new wiring harness or $28,000 without the harness. I had one serious offer two weeks ago from a gentleman in AZ, unfortunately he couldn't back out of his existing lease without taking a major financial loss. He used to own a 500E and regretted selling his years ago.

The used car market is definitely tough right now. High performance cars are being offered at very little cost and with easy and low financing it definitely steers buyers away from older cars. At this point I won't be disappointed if the car doesn't sell, there are only two cars now that I would want, neither will be hard to come by in the future and the prices on one (Porsche 993) continue to drop. I'm really craving a manny tranny though, which is probably the biggest reason I want to sell the 500.

We are definitely moving to Maine, we actually put our house on the market today. I'm going to make arrangements to ship the car to my parents garage in Upstate NY in mid August if I still have the car. I'm happy at least I've found a place to store it until we have a garage of our own in Maine.

I truly wish I could make it to Pebble Beach Concours, it's been a goal of mine for a while. Unfortunately the house, baby and planning is taking up all the time I have. Time has been so tight that I've only driven the car once in the last four weeks to get the fluids moving and hot.

Let me know if you're still interested, I still think you should see the car in person and take it for a test drive.

cj750rock · #56 08-02-2004, 12:28 PM

I sent you an e-mail. Call me when you get a chance.
Thanks.

Mike McDonald · #57 08-04-2004, 12:24 AM

Afshin , still no actonon my 560SEL, but I thought I would see If you would come into the $25k all cash area, I would be very interested if it gets around that area, otherwise its just too much for me for a car I want to drive couple of days a week. let me know where your final price is and maybe we can make it happen. Thanks Mike

cj750rock · #58 08-04-2004, 02:24 PM

I drove the car on Monday and boy I feel bad for Afshin to having to sell the car. It is a great car. I am willing to buy the car for Afshin's asking price but I need to sell my 91 560SEC first. It is being consigned and pretty confident that it will sell in two weeks. The car is so nice that I felt bad for even test driving it and getting the brake dust on the wheels. I made the test drive a real short one. If or when I buy the car, I think that I will continue to show it more than driving it.

Thanks again, Afshin. I will let you know within 2 weeks to confirm the purchase but the price is set.
David

suginami · #59 08-04-2004, 03:47 PM

Whoever gets this car, at whatever price, is getting a very special car.

I have seen this car on many, many occasions, and it is the cleanest, most well-kept vehicle that I have ever seen. It is a time-warp car, practically a 10 out of 10. I don't know if there are even rock chips on the hood or front bumper / spoiler.

-fad · #60 08-05-2004, 05:54 PM

I always have inquiries from the MB factory authorized dealer sales staff, dealer shop foreman-techs and service writers, and also passers-by if I am interested in selling my own 124.036 ...and I respond that I'd only part with it for a very very unreasonable sum of money.

One gentleman though has continued to express his interest in purchasing mine for over a year and I'll point him toward your ad here, Afshin. He is interested in acquiring a no expense spared, over maintained, near perfect, turn key example 500e500 within your asking price range.

You car appears to have a transferable limited warranty, but would you be willing to share some more detailed information regarding your car's maintenance/ repair history?

Have these items been attended to: a/c evaporator, does a/c maintain a charge?, timing belt/tensioner, rear nitrogen cells, 15k & 30k services?, timing chain stretch been measured, any fluid speepage at oil pan, front cam seals, trans, rear end housing seepage? has the self leveling system's hydraulic fluid/filter received regular service? rear window sun blind close without clicking? any ticking at cold start-up? any suspension bushing replacements? stock stereo/CD functioning?

Anything else you can add regarding the upkeep and maintence of the car would surely be of great value for potential buyers of your 500e.

Hope this helps
tks-fad

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