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

[Reed Hitchcock]

Thanks to all of you for perspectives..  Gerry - I can always count on you
for the details - regardless of which car I'm monkeying with!

Looking at your responses as well as the real world, it simply amazes me how
much SEC one can get for so little.  I'm leaning toward keeping mine because
not only would it provide excellent magazine fodder for years to come, but
many of the *major* items have been addressed - the vacuum pods, the
cylinder heads and timing chain/rails, the front suspension, and even the
AC.  Right now, it has an occasional stumble at idle, a minor exhaust leak
(could just need the manifold tightened and/or a manifold gasket), the
sunroof liner needs to be reattached,the hydraulic pump leaks (although the
suspension works perfectly when there is fluid in the system), and a bit of
exterior cosmetic work (bumper paint mainly).  Otherwise, it really is a
very nice driver.

We shall see....

-Reed

On Fri, Apr 15, 2011 at 8:51 PM, Gerry Van Zandt <gerryvz at me.com> wrote:


>  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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