Mercedes-Benz 500SL: Under The Hammer

Auction sales offer hint that R129 SL might be on the verge of a classic revival - pounce now says Keith!

I've recently found myself with a bit of an unnatural urge to buy a Mercedes-Benz 500SL. Perhaps it's an age thing, or hopefully just a passing phase, but either way, this is a worrying development. I've been watching them for a while now, tracking their depreciation - and it would look to me that we're close to the bottom of the curve. And unless world events serve us another huge spike in petrol prices, they should start easing up in value as 'secondhand Merc' becomes 'classic Benz'.

Estimate on this SL is just £3.5K; tempted?

My interest in them has been piqued following an innocuous conversation about the rising prices of classic cars. A friend recently bemoaned how anything classic shaped she fancied seemed to be out of reach, and my response was to think 'modern' or 'future classics' - and as she wanted a convertible, how about a Mercedes-Benz 500SL? Ex-colleague Harry Metcalfe has just picked up a mighty V12 SL600 AMG, taxed and tested for £5,500, while an auction house owning friend of mine recently picked up a low-mileage full-service history 500SL for £2,200. He's not the only one. Tell me, are there many options out there where you get more for less?

As we all know, the R129 generation SL was a revolutionary product when launched. It bristled with the white heat of 1990s technology, packing everything Mercedes-Benz could throw at it, including an active roll-over bar that automatically sprung-up when the car was up-ended. Although the six-cylinder 280, 300 and 320s are probably the more 'sensible' SLs, my experience is that the 32-valve M119 5.0-litre V8 delivers the best all-round combination of performance, understated drama, and - whisper it - potential real world economy.

Six-cylinder sensible but Keith wants a V8

On the road, it's not the boulevardier that its predecessor, the R107 Lucy Ewing SL was, but neither would you describe the 500SL as a sports car, even though it is fast and sounds great (6.0 seconds for the 0-60mph run and a maximum speed of 155mph). Although it handles well and has oodles of grip (on the right tyres), remote-feeling steering, smooth autobox, and ample seats will probably set you on a more relaxed driving style.

Perfect, then, as a future classic that you can pick up for near-shed money. But just make sure you can answer the following questions in the affirmative before taking the plunge. Can you afford to fuel it? And can you afford to fix it? I'm probably a 'no' to both, but I can dream.

Check front wings and jacking points for rust

There are a few must-dos when looking at one to buy - make sure it comes with the hardtop, and that it can be removed, if fitted, so you can see the hood working. It's a complex folding mechanism, and can cost up to £2,000 to properly sort a broken one. Also, look for water ingress in the footwells - the bulkhead ventilation plenum chamber may have rusted. If possible, buy one that's always been garaged to lessen the risk.

Rust can also strike the front wings and jacking points - but other than damage where the hardtop has been badly fitted, or if the car has poor body repairs, it shouldn't be serious. Electrical gremlins are mainly limited to the effects of having a 'phone or alarm fitted. And with the engine - the oil pressure gauge should read 3 nearly all the time, possibly dropping to 1.5-2 when hot - if not, consider walking away. A short list, then, for a car so complex and expensive when new.

This 500SL made £4K in December

The low prices are probably down to the sheer number for sale at classic car auctions during the course of a year. PH Classifieds reveals a few at any given time, and most UK auctions will have at least a couple on the lot list. This weekend's Anglia auction is typical. It's a very pretty 1993 500SL with 91K on the clock riding on AMG alloys (check they're genuine), with an estimate of £3,250-3,500.

That's a very good price, assuming it passes all of the checks, and you get it for that. It is also thrown into relief by the 1990 500SL that went through Barons just before Christmas for a comparatively stiff £4,300. Considering that car was wearing an AMG bodykit (you decide if you like that or not - I'd leave it), and had a rather naff aftermarket wooden steering wheel, that's quite a result. Too soon and too early to say they're on the up already, but still plenty of metal for your money.

However, I can't see it long before the rest of the world starts calling these classics - and you already know what will happen to the prices when that happens...

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soad

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