Most likely has nothing to do with repair costs at all. These cars would have been bought at the tail end of the market boom when stock options were plentiful and an even higher payout was just around the corner. People bought beyond their means and now are either out of work or the options are worthless and bonuses are nowhere in sight. Add that to the fact that the 2004 S600 is coming out in a few months and you have a powerful combination working to increase supply and lower demand. Prices will naturally fall. Untill just a few years ago the S600s held their value like nobody's business. A two or three years ago S600s went for no less than 10% less than a new one (in Toronto at least).

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Jason Priest
1999 E430
1995 E420 - retired
1986 420SEL - retired