What's It Worth?

[n/a]

It has been fun to ponder which one of these to sell: a '67 SL (www.theResearchSource.net/230SL.htm) or '76 BMW (www.theResearchSource.net/2002.htm).  I am pretty sure it will be the former.  I'll explain more about my logic at a later time if anyone's interested.

I have owned the SL for about five years and have driven it regularly but seldom.  It is a Euro, with, I believe, the only thing Euro about it the non-amber headlight clusters (I have replacement amber ones because the thin plastic around one is cracked) and the speeedometer/odometer.  The car is from the San Diego suburbs and I have all service records since it arrived there.  The engine, rebuilt with a 2.5L block, has about 20,000 miles on it.  4-speed; decent AM/FM with speakers and auto antenna in rear that's not ugly; no other options or accessories; the chrome/grill are perfect.  Seats, carpet, soft top, mirrors, weatherstripping, visors, etc. have all been replaced/rebuilt.

The car is very fast.  Perhaps this will draw out the experts and wannabes: I learned from credible sources (more on that later too) that the 230 was the "fastest" of the 113s; this is a 230 with a 250 engine.  In '67 they made both so it may still--it never mattered to me--be considered OE.

On the downside, the car has a couple of fist-sized holes behind the front wheels; there is some tiny bubbling elsewhere but the rest of the body is very close to rust free.  It has been a little while since I have researched M-B aftermarket panels or talked to knowledgeable body people but I would say the rust situation is very fixable.  In the dry, cool foothills of Colorado where I live rust has not spread and, for my Summer driving, moisture has not been a problem.  I believe the only other fix-it is the plastic window in the convertible top is cracked.

Any suggestions as to what it is worth?  Thanks.

[Tom]

Peterinco,

The presence of rust to this level takes the value down a good bit.  Problem is that it is hard to know how much rust there is that can't be seen.  I agree that it is all fixable, but the cost of fixing is high-thus the diminution in value.

The 230sl generally trades at a discount to the 280SL-that's just the market.  Many prefer the euro-more sporty, euro cam, etc. but I don't know that it gets a premium because it is euro.

Having seals done, seats, etc. is good.  Good chrome is also a plus.

My guess is that it will trade at around $15k.

Best,

Tom


1971 280sl Tunis Beige Metallic (restored & enhanced)
1971 280sl Tobacco Brown (low mileage stock)
1970 280sl Deep Red (Project Car)

[n/a]

I appreciate it, Tom.  I'm disappointed there isn't a bit more discussion...

To be honest, a problem with this car is that it is TOO pretty.  It is like driving a big, bright flag.  If I were in a place like Beverly Hills, or New Canaan, or Lake Forest etc. maybe it wouldn't stick out so much.

I'll take some pictures of the engine comparment, trunk, etc. (they're perfect).  I'm inclined to have the rust fixed; I've been around these cars quite a bit and have poked around underneath this one plenty--it is not that bad.  I just have to find the right shop.

[Douglas]

I've got to agree with Tom about a premium on the 280SL vs the 230SL. I've always been baffled by that, but it seems to be a fact here in the US. I think the spread of prices/offers you'll hear will be fairly wide as well.

Anywhere from $10-15K seems reasonable to me given what I've seen out there. The rust is going to hurt the price and, to some, the non-original motor may be a turn-off. If it were mine, I would consider mounting the original 2-piece 230SL hubcaps in a color that matched the hardtop just to bring it closer to its original configuration. And if the soft top canvas is still good, you may want to stitch in a new window.

On a more upbeat note, there have been some very high prices received over the years for some of the very nicest 230SLs.

Douglas Kim
New York, NY
280 SL #016220

[Kenneth Gear]

I suspect the reason that you haven't seen a more robust discussion is because the two guys who have commented in this thread already know more about these cars than many of the rest of us will ever know.  Many of us agree with what they said and have nothing to add.  So rest assured that you got a high quality discussion if not much quantity.

To me, Looks like a very nice driver but nothing increases resale value like orginiality and lack of rust. As nice as your car is, those two areas will hold the price down to the range indicated.

Best of luck

Ken G
1971 280 SL
Silver/red

[Tom]

Peter,

Some additional analysis for what it's worth.  Thinking more on this, the big problem here is rust-two fist size holes plus blistering.  A 230sl with rust would trade at the lower end of the range that Doug indicated.  What might get it closer to $15K is if the chrome is in good shape (which you indicate).  The cost of replacing all of those seals is not cheap-so you should get something for that.  New carpet and upholstery also adds to the value for someone that wants something that looks new over originality.  However, same person that gives you credit for seals, chrome etc. may be picky about the non-matching numbers on the engine.  

The really good examples of these cars are appreciating and trading at high prices ($40-75k).  However, I have observed that the average car of 280sl vintage is in the teens.

Hope this helps.

1971 280sl Tunis Beige Metallic (restored & enhanced)
1971 280sl Tobacco Brown (low mileage stock)
1970 280sl Deep Red (Project Car)

[n/a]

Everyone is knowledgeable.  Where are the idiots as on other M-B forums?

Seriously, you are not my appraisers.  If I could get $15K as is I would make maybe $1K and it has held up better than a lot of other investments.  But I'm not in it only for the money--when I sell it I'll sell it for what it's worth.  And I would say this:  looks great and fun to drive are the most important.

I'll throw out my wisdom on the "market."  I've seen these cars that look as though they've been sitting in a dusty garage for ten years; or that have a long list of fixes needed; or that are too nice to drive on rock-filled Colorado roads.  And there are some excentrics, like "My wife has always wanted a red one!" and some odd colored interiors and exteriors.  If you put this one side-by-side with many I've seen for $17K or $18K I'd choose mine.

The rust has been a difficult problem only because I haven't found the right old timer's shop.  Body shops that do insurance work and Chevy SUVs only set me back; one guy poked around at OE "caulking" and declared the car a makeshift fix-it job.  No way do I see a need to pay a restoration shop on a time and materials basis to BEGIN fixing it.  I even bought some fiberglass patching and undercoating to do it myself; granted, not a solution for a collector's car, but if I'm gonna keep it...

Interesting comment about he hubcaps.  I'd like to buy or paint some black ones.  I think I like the dull red...  And sorry, I don't understand the fixation with OE.  What are you going to do, put the original radio back in?

Thanks for the input.  Finally, the BMW is maybe a more fun as a hobby car.  The SL is more about prestige.

[J. Huber]

Hey Peter.

I have to agree with the others that the rust issue is going to drag your price down. I can relate. If I were to sell my car today (ow. my tongue) I could hi-light A LOT of positives about it. It is a strong  and attractive 230SL (IMO). Problem is, I would eventually have to get around to mentioning the chassis rust in a few areas. That sucks. Although bandaids are in place -- the reality is it has probably cut my car's value by 1/3 -- maybe more. Where this is especially frustrating is when I see other cars for sale. They are nowhere near the overall condition of mine but are in high teens/low 20's.

Now, your rust could be less formidable -- and someone who likes a challenge may look past it. Good news is the metal is readily available. It is the labor side that hurts. Without knowing the true extent of your "corrosion" issue -- its hard to say how much you'd have to knock-off. The 15-20 range is probably close if the right buyer comes along. Good luck.

James
63 230SL