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#1
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What is the Consensus Market Value of my E500?
Just curious about the current market value of my E500. Details below:
- Mfd 6/94; one of very last made for the US - 040 Black/ black/ black - very rare and most desirable colour combo (IMHO) - 56K miles, fussed over like third child and just off Starmark - Many new parts under Starmark, including front and rear struts, rear actuators etc. - Originally bought by BJ Armstrong of Chicago Bulls (MBCC letter to prove). I know nothing about basketball... - squeaky clean 17" AMGs (SLK five spoke) with 245/45/17 tyres Any ideas what such a vehicle might reasonably command?? Thanks farrukh |
#2
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Hi farrukh-
I'd say that an OEM creme puff, tight, stock, no issues/ factory fresh, collectors quality, no accidents, no repainted parts, mint condition '94 E500, w/ 56k miles would command a realistic/ reasonable selling price range of $35k-$45k within the US (eventually if not in our current economic environment). To the most discriminating type of prospective owner requiring the best of the best- - these factors listed below may (-) affect value/ actual sales price of an candidate E500: >If the car has required accelerated maintence/ premature wear issues dealt with: suspension, steering, premature brake component replacements, abnormal engine motor noise >If the car has recurring mechanical issues >If the car has non OEM equipment and/or the OEM equipment does not come with the sale (wheels, stereo, suspension, chip, etc.) >If the car has non-reversable mods and/or difficult to restore OEM condition 'type of mods >If the a/c evaporator is failing >If (-) cosmetic issues are present (non pristine: undercarriage, interior, motor compartment, exterior finish, - -dings, dents, scratches, etc. etc.) >...and other scrupulous misc. factors: ie >if PPI reveals compression/leakdown concerns, wiring harness issues, # of previous owners, smoker/ non smoker, where the car has lived its life, MB VMI data, law of supply and demand, etc. On the "quick/ distress sale" extreme low side, I'd imagine the car would command no less than $29k-30k Re: the celeb/ sports figure prev. owner...I'm not sure whether there are many followers of this particular BB player, however...it may be worth a premium to the prev. owner to pick up the car ownership again....hmmmm - just wondering... Good luck and best regards -fad |
#3
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How about a silver/grey '92 500E with 145k miles in very good condition? It seems like car values across the board are going down in a big way.
I sold my '98 993 Targa earlier this year for $60k. I think I could probably buy one back for $52-55k today. I have a '90 BMW 535i 5 sp that is now unsellable at any kind of reasonable price, where a year or two ago, these things were pretty desirable. Seems like a great time to rent a hangar and purchase a bunch of really nice older cars for very little. |
#4
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A really grreat time to rent a hanger....?
I'd agree that it's a buyer's market, there's some fabulous cream puff used cars for sale by owner in this soft used car market where cash is king! ...and they may be had at a bargain- - especially the collectables! These factors appear to be keeping the used car market soft here in the US (and it may not be getting any better): >new car incentives >high supply of new 2002 vehicles and incoming 2003 vehicles >adequate supply reasonably priced entry level new cars w/ warranty vs. used cars w/ no warranty >soft rental car market w/ used rentals also flooding the used car market >high volume termed or near term lease vehicles (w/ warranty) up for sale >government, economic, and employment factors >upcoming 2004-2005 improved offering of vehicles Hanfrac- if your 500e is 100% and no pending issues ie has the wiring harness, a/c evaporator, timing chain, p/s pump, nitro cells, front end soft bushings already refreshed >>>perhaps you can get an interested buyer in the strong $20-$26k (+/-) range since all these maintence/wear items are taken r/r'd of already.... hope this helps -fad |
#5
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Gentlemen,
Interesting comments. Thank you. I too am astounded by the soft used car market. Just yesterday, I noticed the following on Ebay: 2000 E55 (25K) at dealer : $47K 2001 S8 (17k) :$51K 2002 M5 : $52K While the above prices consisit of some individual seller, vehicle and supply/ demand characteristics, eg, Audis depreciate faster than MBs or perhaps the sale is distressed, I am still surprised to find such low prices for most cars. Thanks all. Perhaps it is a good time to find a hangar or simply keep driving... :-) Farrukh |
#6
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Yikes! fyi's:
A couple of nice looking 500e's (bargains?) 1992 500e's on E-bay up for bid/sale: >50k miles, Ca Car, Clean Car fax, nice pics, buy it now for $25k!!!! (KBB looks to be $28k) >70.5k, TX Car, All records, "perfect cond" , currently bid at $16.5k!!! I'd want the 1st one if it checks out ok -fad PS- Question: There's a pic on E-bay of the 50k mile car with just the Aux Driving Lights on w/ foggies (lower valence).......Anyone else's 500e able do that???? (looks great!) |
#7
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fad-
Since the used car market is declining, how 'bout you sell me your E500 for say..........$20K. That makes my E420 about the same price as a new Kia, maybe not even that high. Craig
__________________
1994 E420, Pearl Black/Black. 2.82 rear diff., AMG front spoiler, painted lower half. SOLD 1972 & 1974 BMW 2002tii's. |
#8
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Hi Craig! How are ya?
Thanks so much for the offer! ....mighty generous considering these challenging economic times! ....your logic seems to flow OK and we may be able to get you into a ~100K+ example for around $20k today! Unfortunately, mine's not up for sale (yet)- - but I usually get 1 person come up to me and ask me if it's for sale everytime she leaves the garage....(perhaps they are just tire kickers?) I may be fortunate also in that, ...there seems to be a list of folks trying to get on my good side as "priority buyers" when the E500 comes up for sale: >MB service people >friends (whom know how I care of my vehicles) >business acquaintences (whom know how I care for my vehicles) >MB acquaintences (whom have actually seen the car) >>they all know I'd sell it today for $60k- - best regards -fad PS- What's so special about this E500? ans. E-mail Neil and Scott Shell and ask them about their impressions of this E500 after the test ride I gave them at the N Cal GTG!!! |
#9
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I'm doing well, thanks for asking.
Actually with the 2.82 rear end I'm quite happy with the car. Now your E500 is only a few 10th's of a second faster, but you'll still get me in the turns, until...... Craig
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1994 E420, Pearl Black/Black. 2.82 rear diff., AMG front spoiler, painted lower half. SOLD 1972 & 1974 BMW 2002tii's. |
#10
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Saw a 92 500E w/141k miles for $25,000 in yesterday's SF Chronicle. Apparently he has not gotten the news about dropping prices.
92 500E |
#11
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There are 2 1994 E500's on AutoTrader right now. Both just under 100k miles. $27,500 and $24,888.
Craig
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1994 E420, Pearl Black/Black. 2.82 rear diff., AMG front spoiler, painted lower half. SOLD 1972 & 1974 BMW 2002tii's. |
#12
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Depreciation
Guys, do not get too bent out of shape about 500E500 depreciation. It is simply a fact of life. One of the primary reasons I bought mine was because my 1997 528i was losing $5,000 per year. This car will lose about $2,000 per year. Since both cars are out of warranty, I figure I am ahead of the game even factoring in the cost of maintenance.
These cars will depreciate just like the 600's and 6.3's did before them until they find a floor. That floor cannot be far off because of the rarity of the car. (When that floor is reached, the low miles un-modified cars will be the valuable ones). BTW, if you like older cars generally and are not just a 500E500 head, I suggest you subscribe to Sports Car Market magazine. It is a fascinating publication. You will not find it in any newsstand, you pretty much have to subscribe. -- John Sports Car Market magazine |
#13
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I sold my '92 500E about this time last year for $23,500. The buyer got a great deal. I'd expect 500E prices to be hovering around $20K.
__________________
Mark Herzig 1995 E300D 153K 1985 300D 142K (sold) 1979 450SL 122 miles (sold) 1992 500E 127K (sold) 1987 300SDL 132K (sold) 1986 300E 161K (sold) |
#14
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I recently called about a '92 advertised with under 30k miles. It had just sold for $27k, according to the salesman. Don't know any of the particulars other than the color.
Last edited by gilamnstr; 10-29-2002 at 07:38 PM. |
#15
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Hmmm,
Very interesting. Well, any remote thoughts which I may have had about selling my vehicle in the near future just flew out of the window. I had considered the E55 as a possible replacement. Drove one yesterday. While the car had undisputable performance and handling advantages over an E500, it just didnt do it for me. Actually, it didnt feel as smooth or as refined (noise, interior appointments) as my 500 to begin with, neither suspension nor engine note. But then again, I am an MB traditionalist... :-) Looking at my E500, confirms to me that the vehicle is one of the most complete and special models MB has produced in the last 2 decades. farrukh |
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