NEW! Award 27: 1967 Mercedes-Benz W112 250 SE Cabriolet – Now $125,000
October 20th Update – No sooner did we get ready to label this Mercedes convertible as “Sold?” due to an expired listing with no update, we came across a fresh Craigslist ad with a revised price of $125,000.
May 7th, 2020 Update – As we mentioned in our original post from December 19th, in addition to this local Asbury Park used car dealer continuing to pose as a private seller, the asking price of this Mercedes Benz continues to shake our heads for two reasons. First, while they’ve lowered the original asking price of $145,000 by $10,000 down to $135,000, the guides still show this being way beyond any of those estimates. Second, it’s fascinating to us they would ask such a high price without attending to the badly worn driver’s seat or the water-damaged door cards.
Sometimes you just have to shake your head at the prices sellers think they can ask for their classic car. A prime example is this 1967 Mercedes-Benz 250SE Cabriolet listed in May 2020 on Craigslist in Asbury Park, New Jersey. The local used car dealer posing as a private seller on Craigslist has their car listed for $145,000. A review of the Hagerty Insurance Online Valuation Tool confirms this dealer is asking $2,000 more than the #1 “Concours” estimate of $143,000. Next, a similar check of the NADA Guides Classic Car Online Valuation Tool validated the asking price isn’t even close to the “Low”, “Average”, and “High” value range of $32,300, $75,900, $106,700. Finally, checks of Bring A Trailer and the other major Auctions did not return any sold examples anywhere remotely close to this seller’s asking price. Consequently, we’ve awarded our latest “NEW!” (short for “No Effin Way!”) Award to this dealer posing as a private seller for asking a completely unreasonable price for their rare Mercedes.
Mercedes-Benz produced its W111 chassis in a variety of body styles and often confusing internal names between 1959 and 1971, with the 220SE cabriolet version entering production two years later. In the fall of 1965, Mercedes replaced the 220SE with the 250SE. This restyled W112 version featured the new 2,496 cc M129 inline six-cylinder engine that produced 150 horsepower at 5500 rpm. The more powerful engine and provided a higher top speed of 120 miles per hour and a 0-62 miles per hour acceleration time of 12 seconds when equipped with the four-speed manual. Visible changes include new 14-inch wheel rims, which came with new hub cabs and beauty rings accommodating the larger disk brakes and new rear axle from the W108 family.
Hagerty Insurance defines a Condition #1 “Concours” car as “the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and the materials used are correct and superbly fitted. The one-word description for #1 vehicles is “concours.”
While we’re the first to admit based on the pictures provided, the exterior of this 250SE appears to be immaculate, we’d argue the brown over tan combination is likely much more polarizing than say silver over black. If you scan through the pictures, you’ll see there is plenty of dust and dirt in the engine compartment, interior, and underneath that require weeks before it’s ready for a Concours judging. What really holds this 250SE back is the interior. You simply cannot expect concours money for a car with cracked seats and water stained door panels. Note the white Griots bags on the floor of the interior; those are desiccant bags designed to remove musty smells. The water stains plus those bags likely add up to a car not stored properly over the years that were exposed to moisture. While original patina continues to be sought after, in this example it just doesn’t work if you expect such a price premium.
Finally, the dealer does not even have a story about this Mercedes to share. If you’re going to ask big money for a rare car, you better have the car’s provenance to back it up. While we note there are a number of what appear to be receipts sitting between the front seats, given the seller’s limited description, we have to assume those are only from the last few years. While a rare car, in just the past year we were able to find ten examples that sold for much less, so we recommend being patient and waiting for a better example to come along.
Here’s the seller’s limited description:
“Rare 4 passenger convertible
Rare 4speed Trans
New master cylinder
New clutch slave cylinder
New complete exhaust system
Rebuilt injection pump
Restored fuel tank
New fuel pump
Sold as is“
Do you have a Mercedes W111 story you’d like to share? Comment below and let us know!