220se coupe, overvalued?
10-30-2011, 08:19 PM
#1
Junior Member
Thread Starter
Join Date: Jun 2006
Location: Portland, OR
Posts: 16
Likes: 0
Received 0 Likes
on
0 Posts
1999 C230 Kompressor
220se coupe, overvalued?
I was looking at a W111 220se coupe in Portland that was for sale, but at a pretty high price for the model. The dealer in question admitted they chose a price, almost at random "as a placeholder" and said someone who knows the cars would make them the right offer. I viewed the car a couple of times and drove it, it was listed at $7,000 and it certainly seemed like a good price at first glance, but after I drove and dove into this car, it became apparent quickly that it was a condition below that valuation, and was more like a $3,500 car. There was much hidden work to be done on this car, not saying the dealer knew, they were very up front that they didn't know much about these cars, but my point is, why do you folks think some buyers are willing to pay big prices for these cars, even being the slower 220 (not a 280), no sunroof, needs literally everything, all wood replaced (not just restored), windshield broken, all interior is shot and water damage from faulty seals all around, bad chrome on dented front and rear bumpers, all paint is bad, engine needs work for leaks and early fuel injection system is out of kilter, trans shifts strangely and shift linkage is bad, differential was cracked or leaking, rust, and so on? Do people get blinded by the values of restored cars and see dollar signs? This particular car would take probably $50,000-60,000 to become a vehicle worth $30,000 when done. I'm a bit amazed, but not surprised I guess. I just feel like somebody who would consider this car at that price would simply put the same money towards a better condition 220se or a similar to better condition 280/300se.
11-13-2011, 09:41 PM
#2
Junior Member
Thread Starter
Join Date: Jun 2006
Location: Portland, OR
Posts: 16
Likes: 0
Received 0 Likes
on
0 Posts
1999 C230 Kompressor
Quick update, original buyer backed out so the car was available again. I put in a fair market offer (well below their asking price) which was eventually accepted, so I now own the car. She is in the shop having a couple grand worth of mechanicals attended to, then I will drive it while I work on the cosmetic and non-essential repairs. I'll keep you updated.
