Hello,
I bought my 280SL after a complete engine restauration by the PO. The car then sat for about 6 months in a cold place, being started only occasionally for very short periods of time. As a result, there was a lot of condensation accumulated in the exhaust pipes and mufflers. When I finally took it on the road, after it had gotten to normal operating temperature, it was belching a huge white exhaust cloud, from the water in the exhaust line being heated to vapour. This lasted for 30 or 40 Kms driven at moderate speed, and finally ended when there was no more humidity in the exhaust (fortunately it is a stainless steel exhaust line). Since then, I’ve never had it happen again. Maybe it is the same phenomenon for you?
The colour and the smell of the smoke can tell you a lot. In my case, pure white smoke, no odour at all, and a clear feel of humidity coming from the exhaust pipes meant it was water vapour. It could have been a coolant leak, but the cooling system was not missing any fluid, the car did not run hot, everything else was normal.