Vintage Mercedes
By Rich Taylor, Vintage Editor
Vintage Mercedes
By Rich Taylor, Vintage Editor
According to a survey I just read about in the SL Market Letter, when members of The Gull Wing Group remark, "My other car is a Mercedes-Benz," they most often mean a W111/112. Lucky folks, because these are the rarest and most desirable post-war Mercedes-Benz models except for the 300SLs they also own. For those of you who may not be up on vintage Mercedes-Benz nomenclature, the W111/112s are those pretty two door, five-passenger coupes and convertibles built from 1961 through 1971. Think of them as the sporty versions of 108/109 sedans. The 111 designation applies to cars with coil spring suspension; the 112 donates air suspension.
The Chronology
Werner Oswald's book Mercedes Benz Personenwagon shows a total production of 35,931 W 111 / 112s over 10 years. Between eight and thirty nine percent of these cars were sold in the United States, depending on the year. Even this tiny total was divided among five models. From 1961 through l967 the 111 was the 220SE, powered bv the old 2.2-liter six. The 112 was the 300SE, powered by the even older 3-liter six.
The 111 250SE came aIong for 1965, then the 111 280SE for 1980. Both had four-wheel disc brakes and other mechanical upgrades, including larger engines. The 280SE six was joined in 1969 by the new generation 3.5-liter V-8 in ti1e 280SE 3.5. For the 1970 through 1972 model years, both six and V-8 models were given the "low-hood" to meet U.S. DOT specifications for forward visibility.
Happily the 10-year-old styling was greatly improved by a hood two inches lower, fronted by a grille two inches lower and four inches wider. All 111/112 cars are desirable, but the low-hood 280SE and 280SE 3.5 are the most desirable. According to Oswald, 5,007 of these low-hood Cars were built, 39 percent of which were imported to the U.S. That's only 1,950 cars, the last of which was built 25 years ago. If even half of these cars are still around, that's less than a thousand, most of which are not pristine. The 280SE and 280SE 3.5s are not only among the rarest post-war Mercedes-Benzes, but there's probably fewer than a hundred concours-quality cars in the whole country.
Value vs Price
Prices reflect this rarity. Most price guides say a top condition 220SEb Coupe is worth about $25,000, the corresponding Convertible about $45,000. By the time you get to the 280SE 3.5, prices have progressively risen to $45,000 and $110,000 for Coupe and Convertible, respectively.
Why are the later cars so much more valuable? Well, styling, mostly. Daimler-Benz design chief Bruno Sacco has said that the 280SE Coupe is one of his favorites. Many think the balanced proportions, marvelous rear window contour, elaborate fender sculpting, and impressive front end treatment make the 280SE low-hood coupe the prettiest post war Mercedes-Benz.
A good test of automotive design is not only timelessness‹the low-hood 280SE still looks reasonably modern today‹but proportions that transcend size. Without an external reference it's hard to judge whether the 111 /112 is a large car or a small car. It's actually mid-size, a roughly 3,500-lb car, 193 inches long, on a 108.3 inch wheelbase. It's about the size of a 1998 E-Class, 12 inches shorter and 1,000 lbs. lighter than today's CL600 coupe.
Interior styling of these cars is equally timeless. As Frank Barrett points out in his Illustrated Mercedes-Benz Buyers Guide, "The interior is clad in leather, wood, and chrome." The later cars even have standard headrests and other safety features, while there's a factory kit to upgrade to three-point retractable seat belts.
A 111/112 is first and foremost a Mercedes-Benz. It is built of the finest materials; it is far ahead of its competitors in driveability and safety; and (not inconsequential to a collector) every part is still available from either Mercedes-Benz or aftermarket suppliers. There are expert Mercedes Benz mechanics all over North America, and in most ways these are simple cars to service and repair. Any of these cars was expensive when new‹Road & Track's 1970 280SE 3.5 test car carried a price tag of $13,500 when a 280SL cost only $7,496‹so everything about them has always been "top drawer."
Usable Antiques
The 280SE and 280SE 3.5s are still acceptable transportation. A 25-year old Chevrolet feels really old, but a Mercedes-Benz from the same era still feels contemporary. About the only feature that's annoying in everyday driving is an absurd amount of nose dive under braking, thanks to a lack of anti-dive geometry in the front suspension. Experienced drivers learn to moderate brake pedal pressure as they stop.
As I wrote this, member John Moss called to talk about 108/109/lll/112s. He drives a late-model Mercedes-Benz but really wants that feeling of Teutonic invincibility you get only behind one of these vertical grilles. I'll tell you the same thing I told him. If you want an exciting but troublesome hot-rod, buy a 300SEL 6.3. If you want a less exciting but also less troublesome sedan, buy a 280SE 4.5. But if you want a car that will be stylish, imposing to drive, easy to care for and almost guaranteed to increase in value, buy a 280SE Coupe or 280SE 3.5 Coupe.
Why not a convertible? Well, according to the guides, prices for all these cars have stayed relatively flat for the past three years. But most experts have them on their Buy list because they think values are about to take off. It's not hard to imagine a decent 280SE Coupe doubling from $20,000 to $40,000 in the next decade It's tougher to see a pertect 280SE 3.5 Convertible shooting up to $225,000, which the same rate of appreciation would require.
There's a psychological ceiling around $100,000 for old cars. If you've got $100,000 to spend, there are fabulous cars to buy, cars that are, dare we say, more exciting, than a 280SE 3.5 Convertible, Still, a 280SE Coupe in good condition for $20,000, looks like a bargain compared to almost anything else, old or new.