Earlier this month I got an email from Russ Smith at Thoroughbred and Classic Cars Magazine in the UK asking if I might comment on the Post-Pebble Beach 2014 Mercedes-Benz 300SL market(scroll to the bottom of this article to learn more about the magazine and how to subscribe). Russ’ basic premise, and question to me was that we’ve come to accept 300SL roadsters and Gullwingsas We’d accepted them as million dollar cars recently, “but now prices are being paid 30-50% above that.” Is this a new trend, what can be expected in the future? I responded with my comments, some of which appear in the November 2013 Issue of “Classic Cars” Magazine.
As John Olson has commented in the pages of the SL Market Letter for years, the Mercedes Benz 300SL, in coupe and roadster forms, embodies all of the characteristics of a great collector car. A lively market is reinforcing what the SL Market Letter has been preaching for years.
Another subject is the price difference between 300SL coupes and 300SL roadsters. Historically, coupes sold for a considerable premium over the roadsters. The 300SL is one of very few cars where the coupe version brings more money than the convertible… try to think of another, convertibles are almost always more sought after. The iconic ‘Gullwing’ doors of the 300SL coupe and its overall styling have kept coupe prices above roadsters for a long time. Today however, roadsters have really come into their own in the market and the price difference is much smaller. Now, other factors determine the difference, not just ‘coupe’ or ‘roadster’.
“300SLs Soar Again” says the magazine.
Roadsters are generally thought to be ‘easier to live with’. While they don’t have those iconic ‘Gullwing’ doors, they do have better interior ventilation and don’t get so hot inside when you’re out touring. Later roadsters are available with disc brakes on all four corners, an improvement over earlier 300SLs fitted with drum brakes which can bring their prices up over those of coupes.
Tobin’s analysis as it appears in the magazine.
On average, roadster prices still seem to lag behind coupe prices, but only slightly, and sometimes not at all. Today, the price differential between two cars might be due simply to condition. A 300SL roadster can easily bring more in the marketplace than a coupe if it’s in better condition, has more desirable options, if it has a stronger provenance or any number of factors that influence a potential buyer’s willingness to open their wallet.
In the end… the 300SL market, is going no where but up. I don’t believe it’s a bubble and I don’t believe the prices realized on the Monterey Peninsula were silly Pebble Beach prices, I think they reflect the new market reality. The 300SL is one of the most iconic cars built during the golden era of sports car racing, it has excellent performance and appeals to collectors across the globe… oh, and they only built a few thousand total… coupes and roadsters, and they aren’t making any more.
November 2013 Issue of Classic Cars Magazine. Click the magazine cover to visit the “Classic Cars” Magazine website.
Classic Cars Magazine is printed and published in the UK. You can visit their home page to learn how to subscribe to the print version of the magazine, or you can sign up for an online only subscription. Simply follow this link for subscription information.