My two W123 diesels aren't new enough to create envy, and after 20 years give off auras of being well cared for rather than arrogance. Do I get treated better? About on a par with wearing a good suit (no matter how old) or more casual clothing.
I live on the cusp of a "rich area," and many families with actual positive bank balances have W123s as second cars.

My "old car" is a Packard sedan born the same month in '49 as I was. Not a super-restored old car, but people seem to react to it the way they react to Irish Setters. Once while driving to a movie the parking guy blew off people in a new Cadillac but waved my Packard into the last space left. "I used to get rides to school in one of these," he said.