[W126 Coupe] Sad to say it, I'm selling my SEC

[Gerry Van Zandt]

Hi Reed,

Indeed, SEC prices are pretty much at the bottom (fully depreciated) although we've begun over the past couple or three years to begin to see an uptick in the values of condition 1 and 2 cars, and in particular some rare models such as "real" AMG-equipped cars -- particularly those produced in Affalterbach or in Westmont, IL (home of AMG North America).

Some of my thoughts -- I'm talking REAL WORLD here:

- Generally speaking (and no insult intended to any owner here), "Series 2" SECs are preferable to the earlier "Series 1" cars.  For US models, this means it must be a model year 1986 through 1991 car.  Narrowing that down further, 1989-1991 model year cars are outright the most desirable years becuase of their upgrades (for example, more leather in the interiors) and gradually improved mechanicals.  1991 cars seem to be the most desirable single year -- some of these cars have ASR and all of them have wood in between the rear seats, which is a nice upgrade for the 1990 and 1991 model year cars.

- Of Series 1 cars, 500SECs are more desirable and Euro 500SECs are the cream of the crop on these.

- Values of stock SECs are all over the map. Condition 6 cars can go for $1,000 or less, while I have seen Condition 1 cars go in recent months for as much as $20-25K.  Generally speaking it is rare for a stock, US-spec 560SEC to actually SELL for more than perhaps $12-14K, and even then it is in excellent condition with really not much wanting at all.  In today's market & economy, $20K would really be about top dollar for a pristine 560SEC.

- A "driver" condition 560SEC that is complete is typically in the USD $5-9K range - $5-7K is normal. This would be an enthusiast-owned car that may or may not be modified, but certainly would be actively maintained.  It is my experience that 95% of SECs I've seen have at minimum $5K and more often $10K+ of what I call "deferred maintenance" -- whether the owner/seller knows about (or wants to admit) the issues or not.

- Typical deferred mainteance issues tend to be:  all underhood soft parts and engine rubber; fuel, vacuum and brake lines/fittings; fuel pumps, accumulator and filter; climate control pods and rubber diaphragms; sunroof issues; vacuum system issues (door locks and seats); intake air leaks (high idle issues); air condition/ACC not working due to leaks or bad compressor.  The big one that most people don't tackle is the suspension:  upper control arms and bushings; rusted/broken front sway bar ends; rear sway bar end mounts broken; ball joints; brake hold supports; drag link; leaking shocks; leaking rear struts; shot rear accumulators; hydraulic pump (same as the 6.9); tie rods, and so forth.  To put the suspension right on these cars (using ONLY Benz parts, no aftermarket rubber/ball joints) is going to run $1,200-1,500 with labor, and can top $2K.

Now, to more fully answer your question, let's take a look at some REAL data.

John Olson's latest SL Market Letter market pricing (sale, not asking prices) on the 1989-1991 model 560SEC (from September, 2010) shows the cars as follows:

Condition 1:  $26,500
Condition 2: $14,500
Condition 3: $11,500
Condition 4: $5,900
Condition 5: $2,400
Condition 6: $1,000

For 1986-1988 560SECs:

Condition 1:  $22,000
Condition 2: $11,000
Condition 3: $8,500
Condition 4: $5,000
Condition 5: $2,300
Condition 6: $1,000

For 1982-1985 500SECs:

Condition 1:  $15,000
Condition 2: $10,500
Condition 3: $6,500
Condition 4: $2,900
Condition 5: $1,500
Condition 6: $900

For 1981-1984 380SECs:

Condition 1:  $15,000
Condition 2: $9,850
Condition 3: $5,650
Condition 4: $2,200
Condition 5: $1,200
Condition 6: $750

If I compare this price data to previous years, it shows that actual sale prices of the cars are just now bottoming out and will begin to rise in the coming years.  If one is in the market for a Condition 1 or 2 560SEC, this year or maybe next year would be the absolute BOTTOM of the market and the best opportunity to buy a long-term "keeper."

Looking at my statements at the beginning of this reply, which I wrote before I grabbed my SL Market Letter binder off of the shelf, they are bang-on with  the data that John is showing in his latest market report. (That makes me feel good).

I don't know the condition of your car, but if you can't realistically sell it for what you paid for it, I'd keep it and update/fix it as a long-term side project. Parts are relatively cheap and plentiful, and a judicious, patient and crafty strategy can get you what you need for cheap (and it's fairly easy to wrench these cars yourself).

Good luck!

Cheers,
Gerry


On Apr 15, 2011, at 11:15 AM, mbcoupes-request at mbcoupes.com wrote:


> Message: 14

> Date: Fri, 15 Apr 2011 08:43:36 -0400

> From: Reed Hitchcock <reed.hitchcock at gmail.com>

> Subject: Re: [W126 Coupe] Sad to say it, I'm selling my SEC

> To: Mercedes Coupes Mailing Lists <mbcoupes at mbcoupes.com>

> Message-ID: <BANLkTin9s1ZCAqH3aa45Oy+UCdin=Gc5_A at mail.gmail.com>

> Content-Type: text/plain; charset="iso-8859-1"

> 

> Out of curiosity, what is the conventional wisdom on pricing these days?

> 

> I bought a 1991 560SEC recently as a project/driver/running report car

> (*Mercedes

> Enthusiast Magazine)* but got caught short on another project, so am

> considering selling.  Don't want to lose my shirt after a short ownership,

> and would keep the car rather than give it away.

> 

> What do you all see as the "going rate" by condition (using a 1-6 scale, 1

> being concours and 6 being essentially a complete parts car)?

> 

> Truth is, I really don't want to sell it, but I have to convince myself.

> 

> Thanks.

> 

> -Reed


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