220se coupes overvalued?

[Marrs]

I was looking at a W111 220se coupe in Portland, Oregon that was for sale, but at a pretty high price for the model. The dealer in question admitted they chose a price, almost at random "as a placeholder" and said someone who knows the cars would make them the right offer. I viewed the car a couple of times and drove it, it was listed at $7,000 and it certainly seemed like a good price at first glance, but after I drove and dove into this car, it became apparent quickly that it was a condition below that valuation, and was more like a $3,500 car. There was much hidden work to be done on this car, not saying the dealer knew, they were very up front that they didn't know much about these cars, but my point is, why do you folks think some buyers are willing to pay big prices for these cars, even being the slower 220 (not a 280), no sunroof, needs literally everything, all wood replaced (not just restored), windshield broken, all interior is shot and water damage from faulty seals all around, bad chrome on dented front and rear bumpers, all paint is bad, engine needs work for leaks and early fuel injection system is out of kilter, trans shifts strangely and shift linkage is bad, differential was cracked or leaking, rust, and so on? Do people get blinded by the values of restored cars and see dollar signs? This particular car would take probably $50,000-60,000 to become a vehicle worth $30,000 when done. I'm a bit amazed, but not surprised I guess. I just feel like somebody who would consider this car at that price would simply put the same money towards a better condition 220se or a similar to better condition 280/300se.

[POS]

Well, (a) it's a dealer and they're not always that bright and surely their $4000 built-in profit margin has a lot to do with their $7000 price; (b) just because they're asking $7000 doesn't mean they'll get it. I found two 280TE's in FL last year by a dealer, and he wanted about $8000 for each and they were each worth about $4000 on the open market. I made him a fair offer of $4000, and he refused. He's been sitting on both cars since 2007. He's an idiot.

[Marrs]

Agreed, but this car actually sold to a buyer from Canada, so my point was more that the dealer clearly was unaware of the true value of the car, but I am surprised a buyer made such a novice mistake. I suppose not everyone is as educated about the current and true values of these cars but when it comes to one of these coupes, that get so costly with every new problem you discover, why would they not do their homework? It's not difficult to find comparable cars with the internet at your fingertips. Maybe just an impulse buy on his part, who knows.

[Carpenterman]

I think the fintail coupes are just hot right now. I've been watching them on ebay for quite a while and it is quite amazing what they are going for. I imagine that alot of the buyers are buying them sight unseen and going on the descriptions and photos which, in my experience, are very incomplete or outright misleading. It's a dodgy proposition to buy a car without seeing it and knowing what to look for. The last two cars I looked at and rejected were relisted because of a "non-paying bidder", which I took to mean that the buyers came to get the car and learned the awful truth about their real condition.

It would certainly be better to buy a $15,000 good example than buy a $10,000 one and have to put another 15 grand or so in it. Wood, upholstery, chrome, rubber and engine work will kill you on these cars. Not to mention bodywork and a respray.

Of all the Mercedes models in the world, it's not hard to see how these coupes end up being impulse buys.

[Benz Dr.]

The way you described it, it sounds more like at 500 dollar parts car. It's not worth $3,500.00 any way you look at it.

[Marrs]

Maybe I was being generous in my estimate of $3,500, but that is only because it was running (tho not very well), you're probably much closer to the truth.

[Tony H]

If you are really in the market for a 111 coupe (or any period Benz for that matter) expect to look at a lot of dogs before finding the one lacking rust, lack of maintenance and abuse. Since 111 coupes are rare that complicates matters some. I found mine on ebay and it was only 3.5 hrs away so i could go inspect it. I found some issues and ended up offering him $4000 less than his reserve and he took it but it was a average deal.

[mercmad6.3]

They ask big money down here for them too. it sounds about right at $500 .I paid that for mine and was very happy with price because the car was rusted beyond belief from the floors down . And that includes the diff and front end.
These cars were actually put together better than the sedans so a good one is a very good car.
1967 MERCEDES 250SE W111 Private Cars For Sale in NSW - carsales.com.au

[Benz Dr.]

Originally Posted by mercmad6.3

They ask big money down here for them too. it sounds about right at $500 .I paid that for mine and was very happy with price because the car was rusted beyond belief from the floors down . And that includes the diff and front end.
These cars were actually put together better than the sedans so a good one is a very good car.
1967 MERCEDES 250SE W111 Private Cars For Sale in NSW - carsales.com.au

And they're nicer than 113's. Better ride, better seats, nicer interior with the same drive train as found on the 250's and 280 six cylinder cars. If you don't really care to drive with the top down in a 113 ( and I don't ) a nice coupe would be a very good second choice. For the most part, you can buy a lot of car for not much money.

[Marrs]

So I got a call from the dealer, the buyer who put down the deposit never finalized. I made them what I felt was a market appropriate offer and to my surprise they accepted. At least I know what this car needs going in, the other buyer probably would have passed out when the car arrived to him on the back of a truck.

The car is at a shop now having the most pressing mechanical issues sorted, and I will begin taking care of some of the smaller scope issues that I feel comfortable handling. I look forward to your advice and input, and even more so to driving this car regularly one day.

[strelnik]

Originally Posted by Marrs

So I got a call from the dealer, the buyer who put down the deposit never finalized. I made them what I felt was a market appropriate offer and to my surprise they accepted. At least I know what this car needs going in, the other buyer probably would have passed out when the car arrived to him on the back of a truck.

The car is at a shop now having the most pressing mechanical issues sorted, and I will begin taking care of some of the smaller scope issues that I feel comfortable handling. I look forward to your advice and input, and even more so to driving this car regularly one day.

Good luck and congrats! Is that the newer or older injection system?

ZEA/ZEB or Jetronic?