Auction Action: Monterey 2009

Lot #519. 1971 Mercedes-Benz 280SE 3.5 Cabriolet, White/Blue, European model, ID# 111027-12-002641, console automatic, extensive interior dye work, restored burlwood with red/blue temp ellipses mis-aligned, many loose/missing interior trim screws, broken driver’s courtesy light switch, replacement rear body panel, rust repair on trunk floor, tidy engine bay, incorrect 112 chassis 300SE style side moldings, mis-aligned front bumper: SOLD for $96,250. I suppose at this figure this was an entry level 3. 5 Cabriolet with loose ends, many of which would have been easy/inexpensive to correct. Superb 3.5 Cabs cost $130k-$160k so the buyer essentially got what he/she paid for presuming the car behaves properly on the road

Lot #320, 1968 280SL in Silver(180) with superb and rare Green MB tex interior, automatic, AC, tools, handbooks and some records, excellent wood, early 280SL with no headrests, excellent street condition paint, automatic, correct sheetmetal, excellent trunk floor, matching body numbers, no bumper guards, low mileage, drove excellent: SOLD for $44,000. One of our clients purchased this car. Price received reflects the state of the market for 280SLs: well prepared excellent cars with no excuses generate top money while the average, tired 280SLs struggle to bring $25k. Steep money but well spent.

Lot #549, 1936 Mercedes 500K three position Drophead, beautiful cosmetics and interior, undercarriage certainly not restored and showing years of use, excellent brightwork, weathered original(?) steering wheel: SOLD for $425,000.

Lot #543, 1956 Mercedes 300SL Gullwing ID# 5500750 White/Red, belly pans, matching numbers, comprehensively restored in 1989-1991 then stored with zero use since, approx 40,256 miles showing, spotless undercarriage, tools, lots of documentation, door drain slots filled, poor deck lid fit, major service just completed: SOLD for $495,000. This car was offered to us for $715k 13 months ago. Subsequent to the global financial debacle the car was offered at three 2009 RM auctions receiving progressively declining bids in each. For some reason the market did not like this car. Heavy exposure certainly did not help. The money realized here represented a massive loss (-$100k+) for the seller. I'd peg this car as sold slightly under market, particularly relative to the Gullwing below.

Lot #566, 1956 Mercedes 300SL Gullwing ID# 6500236, White/Red, single Ohio ownership until 2005 then donated to the Crawford Auto-Aviation Museum, aside from one repaint the car remains otherwise very original, completely original but weathered interior, no luggage, 42,200 on the odometer, full history from 1956, unpainted wheel caps, rare Heuer Autavia dashboard timer, original style tail light lens gaskets, paint failing in some areas, cloudy chrome, discolored headliner, electronic ignition, good panel fit, gently weathered engine bay still showing much original finish: SOLD for $495,000. I dismissed this Gullwing as a restoration project but after talking to GW specialist Peter Thomas, I wandered back for a second look. Thomas loved the car for its largely unmolested state (he pointed out the original grey tail light lens seals) and felt at $350k or so it would be a good value. To most of our clients, however, this car would be an excellent candidate to fully restore. The new owner paid dearly for this car's heritage and originality. It's not quite nice enough (or healthy enough) to use as-is but it would be a shame to restore and destroy the cars character. With an almost $500k acquisition, a $300k restoration takes the owner to $800k; certainly beyond today's and quite likely 2012's value. My feeling is the price received was over market, a massive premium for the history and originality.

Lot #531, 1960 300SL Roadster, ID# 19804210002639, both tops, drum brakes, thin description in RM's catalog - "although the precise date and specifics are unknown, this car was fully restored at some point before seeing very limited use," Euro headlamps, Dark Blue/Grey leather, interior showed dry leather and a nice patina of age, polished rims, Becker Mexico radio, matching numbers noted by RM, worn grille chrome, engine bay would benefit from a comprehensive detail, paint beginning to fail on most upper surfaces, an attractive car:Â NOT SOLD at $460,000. (I was told the owner purchased the car back to prevent a client of mine from buying it at the $450,000 top bid. Selling at this level would have netted the seller just over $409k. However, by purchasing his own car the owner was potentially subject to BOTH buyer and seller's fees equaling 20%. Do the math and this makes no sense. He must have struck a deal with RM for lower fees) Based on this roadster's needs, I don't think the $450k bid was that far off.

Lot #16, 1957 Mercedes 300Sc Coupe: Dutch classic car expert Michael Goudsmit inspects this lovely Sc coupe. SOLD for $198,000.

Lot #89, 1957 Mercedes 300SL Roadster, Silver/Red, Rudge wheels, originally owned by actress Natalie Wood (purchased when she was 19!), restored by Rudi Koniczeck years ago in British Columbia, a former Gullwing Group National Convention best of show, blue soft top somewhat jarring, Becker radio, books and tools: SOLD for $561,000. I did not inspect this car but based on the data the price seems correct. This car sold for about $100k (roughly the depreciated value of an older "Rudi's" restoration), more than the high bid for RM's Blue/Grey roadster above. Rudge wheels add about $35k. I'd venture to say this roadster was well bought considering Hollywood heritage, colors, Rudge wheels and current condition.

Lot #109, 1971 280SE 3.5 Cabriolet, ID# 111027-12-003914, tobacco brown(423)/cognac leather, US model, 122k miles, lovely patina, excellent (probably) original interior, burlwood, column automatic, polished wheel covers, rear sagging due to tired hydrocompensator, clean and tidy engine bay: SOLD for $137,500. While not a high demand color (contrary to the catalog's claim), this car had a nice look about it although with 122k miles there will likely be some mechanical odds and ends looming. These are expensive cars to sort out correctly but I would say this price was about right and a full $41k above the white/blue Euro car from RM.

Lot #112, 1952 Mercedes 220 Cabriolet A, ID# 060080737, sable brown with beige leather, fitted luggage, 2.2 liter six cylinder, older high quality restoration: SOLD for $132,000. Interestingly, this cute 220 sold for about the same as the 3.5 Cabriolet above. Which would you rather have?

Ex-Berlin Auto Show Car and 1 of 150 380s constructed: SOLD for $1,078,000. To my eyes variations on the compact 380s have often been more aesthetically pleasing than its bigger 500k/540K brothers.

Lot #169, 1955 Mercedes 300SL Gullwing, ID# 198.040.5500128, rudge wheels, luggage, tools, "brake booster" notation in catalog may indicate updated brakes to ATE booster, high quality restoration of unknown origin and date, serviced by Paul Russell in recent years, lacking bumper guards, matching numbers noted: SOLD for $544,500. A mid-$500k range for a rudge wheel Gullwing with an older mystery restoration sounds about right to me.

Lot #221, 1955 Mercedes 300SL Gullwing, ID# 5500429, Strawberry Red/Tan leather, luggage, belly pans, chrome wheels, older restoration holding up very well, misc paint issues cowl area, excellent interior, nice chrome, an attractive Gullwing although not a high demand color: SOLD for $546,000. Price reflected the overall excellent appearance and late, more reliable ATE brake booster system. Compared to the $495k for the two white Gullwings at RM, this car looks to be a decent value. The color certainly held bidding for this car back.

Lot #242, 1961 Mercedes 300SL Roadster, ID #003067, noted as a 1961 but my MBZ data indicates a 1962, ex-Otis Chandler (many years ago), alloy block, disc brakes, non-metallic Grey(DB190) with contrasting white gray(DB158) hard top, 7,562 miles showing and believed to be correct, original Continental 6:50x15/6.70x15 whitewall tires, patina personified, superb but weathered interior, some carpet rotting on trans tunnel, Becker Mexico, numerous paint blemishes/blend lines, excellent headliner, weathered engine bay and undercarriage, probably not ready for regular use: SOLD for $804,000. This sale had the entire Gullwing/Roadster community talking. As I spoke to my Gullwing/Roadster confidants, I find that this was a fairly well known roadster. The price paid is enormous but the buyer receives the ultimate roadster: aluminum block, disc brakes, one of the lowest mileage examples etc. The dilemma is what to do with it: restore, re-commission and use, or park it. Time will tell although as I mentioned in my post the Monday after the auctions, if the car is restored the Gullwing/Roadster community will have a collective heart attack.

Lot #F409 1955 Mercedes 190SL, ID# 121042 5500207, Red/Tan, catalog stated: "This 1955 190 SL was one of the first 190's built and a California delivered car from new. The 1955 190 SL's came with the 300SL seats which makes this model year very unique. This car has had 3 owners since new and has always been properly serviced and well maintained. The paint is very nice. The body has great fit and gaps. All chrome is very nice. The interior is beautiful and has been redone with all correct materials. The seats were done in the correct German leather and the carpet is the correct square weave carpet. The convertible top is in excellent condition. This is a matching numbers car with correct carburetors. All in all, this is a very correct 190SL and will give the new owner many years of great pleasure and enjoyment." SOLD for $40,055. If the car indeed was as the catalog suggests, I would say this was a correct value and the buyer should have a pleasant tour and event 190SL.

Lot #F404, 1965 Mercedes 230SL ID# 113042 10 010790, Red/?, the glowing catalog description of this 230SL would call into question the description of the 190SL above and for that matter the 300SE below. It's still always a case of buyer beware at any auction. Possibly a Euro model and with ALL side and rocker moldings gone and holes filled, this Pagoda looks very suspicious indeed. I note a very wide sweep of the rear wheel arch, non-correct alloys on low profile tires and suspicious black inner wheel wells: SOLD for $23,100. While I did not see the car, based on the 205 Pagodas I've owned, I'd say the odds were high that this car has seen some sheetmetal replacement, might even be a disaster underneath. Hopefully this was not the case but we hope the buyer understood what he/she purchased. $23,100 should buy a substantially correct and unmolested 230SL today.

LOT #F424, 1965 Mercedes 300SE Cabriolet, SilverBlue/Palomino, catalog notes: "All original interior including carpet which has the correct square weave. Excellent fit and finish which with its original Becker Mexico radio. Recent complete valve job. In 1965, this was the top of the line Mercedes which included air suspension 6 cylinder motor": SOLD for $37,675. This is one of the unloved 112 chassis air suspension Cabriolets. The recent valve job is a large value ad and overall appearance looks period correct with a patina of age. If the car runs and drives correctly and the air suspension behaves properly, I'd call this a fair deal for both buyer and seller. Hopefully the bottom end of the engine is healthy as rebuild costs approach that of a Gullwing.