« Replacing Interiors | Main | MERCEDES-BENZ: 5 Spd Manual vs. 4 Spd Automatic »
Tough Call: Heirloom or Cash
By John Olson | February 21, 2009
Hi – I was wondering what the fair market price - in a private sale - would be for a 1991 560 SEC COUPE (last yr. they made that model) WITH ONLY 50,000 miles – mint condition – black on black – originally priced at $110,000. Always garaged. My mom’s car for many years. Thanks.
OLSON RELPIES: Kim, Hmmm. Maybe $15,000. Maybe $10,000. All well preserved Mercedes-Benz of that period are undervalued at this stage in their life. That S-Class was very well built. BUT… today’s priority is on economy more than quality or luxury. Even safety of occupants in your SEC is higher than most any other car buyable for $15,000…. yet more people would put their money on a lighter, smaller car that would not withstand a rough accident.
Today’s Price range for your model may seem large, between $4,000 and $18,000, but is entirely justified as a poor one can’t be fixed for the price difference of a good one. An example with less than 15,000 miles might command even more that $18,000. 50,000 miles is desireable but not low. If you find a buyer that really digs the color, and condition and paint are original the car “might” bring $15,000. If you are in a position to walk away from $10,000 you could try for $15,000. Another tack would be to tell “bidders” that their $10,000 price is too low… your “buy it now” price is $14,000 (or whatever). If they want to gamble that you won’t find a buyer in 30 days… you might then lower your price… or if you get the raise you’re expecting you’ll keep it! If they really like it and can afford it, they’ll not gamble on losing it, and pay your price now.
The 560SEC is a wonderful car. A worthy family treasure. Yours WILL reappreciate in value, slowly in future decades if you have an indoor place to keep it, give it 1,500+ miles per year of exercise, week-end getaways, car club socializing and preservation as a long term heirloom. It is not a cost-free asset; only you and your family can decide if it is worth more to your lives than the $10,000/$15,000 you can get short term. You could buy another one to relive your past… twenty years from now. Lots of people do that too.
Let me know what you do! Good luck.
Topics: Questions & Answers, SL Consultant | 5 Comments »
September 17th, 2009 at 6:19 am
A 1991 560SEC was not $110,000. The list price for my fully equiped 1991 was $88,000, I have the window sticker.
John P
September 17th, 2009 at 11:07 am
A 1991 560SEC was not $110,000. The list price for my fully equiped 1991 was $88,000, I have the window sticker.
OLSON REPLIES: Thanks John. Can’t argue with a window sticker! Price jumped dramatically during 1985 through 1991 production. Base price and production each year, USA and elsewhere:
1985: $58,800 with 398 sld @ USA, 591 other countries
1986: $58,800 with 2,227 sld @ USA, 3,249 other countries
1987: $68,000 with 1,883 sld @ USA, 3,129 other countries
1988: $75,850 with 1,748 sld @ USA, 3,551 other countries
1989: $79,840 with 1,747 sld @ USA, 3,552 other countries
1990: $81,500 with 1,787 sld @ USA, 3,483 other countries
1991: $82,500 with 676 sld @ USA, 905 elsewhr, ’91 & ’92
1992: $83,900 with 557 sld @ USA. Prdctn. ended in 1991
Total sold in USA:11,023 Total sold other countries:18,460
September 19th, 2009 at 5:49 am
Where did the 1992 numbers come from? All 126 production ended on May 14, 1991. My car was built on April 14, 1991 was 979th from the last 126 made, this includes 2 and 4 dr models. My car was not sold until July 1992, might be the last sold in the USA.
Its a National Show winner and is in original showroom condition, never restored! It’s for sale, we just bought a 1989 560 SL with 20,000 miles Cabernet/Gray.
John
September 19th, 2009 at 3:37 pm
These SEC sales figures are directly from MBNA reports provided to the SL Market Letter for those years. Similarly MBNA logged 2,173 more 560SL sales to US dealers in 1989 and beyond, than the 5,351 built in that final production year, 1989. 222 were sold to dealers in 1990 and 1991 well after the 129 500SL was also at dealers. Every Mercedes-Benz series develops a permanent enthusiast group that prefer the outgoing model to the successor model. Thre is a lot to be said for the final year of any series… they’ve been debugged and updated and refined for a decade, while the new model is inevitably just beginning its years of refinement. Mercedes-Benz collectors seem to appreciate this too, preferring the final years of a model’s production, while American car collectors favor a car’s birth year… as in Chevy’s V8 (1955) or Ford’s V8 (1932).
Be sure to list your 560SEC’s sale in the SL Market Letter; always a good audience for the best cars!
November 12th, 2010 at 9:21 am
My 1991 560 SEC with 102,500 miles sold for $21,000.
John