To Keep or Not To Keep? Evaluating a 1970 W114 250C Coupe
Deciding what to do with a car you inherited or received as a gift
Article Richard Simonds
Images Gary Anderson
What do you do if you acquire an older Mercedes-Benz as an inheritance or gift? The most basic options are to keep it to use as a daily driver, clean it up for show ‘n’ shine events or restore it for concours d’elegance competition. Alternatively, you could sell it as is. To get a better price, you could fix obvious mechanical and safety problems and detail the car before putting it on the market. Or, you could do a major reconditioning job in the hope of realizing a high-market price for that make and model.
Deciding on the best course of action is driven both by economic considerations and emotional feelings. Economic factors include how much the car would fetch if you were to sell it in its current condition, making no promises or commitments to the new owner; how much it would cost to make the car roadworthy, safe and presentable enough so you could sell it with pride – and how much more it would be worth in that condition.
If you like the year and model you can do the same analysis you would do if you were thinking about buying it. Consider the cost involved to make it a car you personally would be proud to drive, show and enjoy. You should also use the appraiser’s benchmark of “comparable value” – could you find one to buy in the condition you want for less than the cost of putting this car into the same condition?
The emotional feelings include such factors as who owned the car; how attached you are to it; how much you’re willing to invest in it to honor the person who gave it to you – and perhaps even preserve it for future generations. By considering these economic and emotional factors, it is possible to come to a rational decision about what to do with the car.
As one example of how this process works, a local merchant contacted me for my advice. He had inherited his parents’ 1970 Mercedes-Benz 250C coupe (W114 chassis) that had been driven only 77,824 miles. I suggested that he take the same approach we recommend when someone is buying a classic car and helped him work through the comprehensive inspection form I have developed for that purpose.
The good news was that his preliminary visual inspection indicated that the car was in original and nearly immaculate condition. It spent its entire life in the desert near Palm Springs, California, and was driven regularly until 1991 when his parents bought a new car as their daily driver. For the next 25 years, the car was kept in the garage and driven only occasionally. Thus, the panels, paint, interior, most of the glass and rubber, and wear items were nearly immaculate. The rubber trunk mat looked like new, as did the entire interior (upholstery, side panels, carpet, floor mats, woodwork, instruments, and so forth). The only obvious imperfections were a few small dents in the chrome trim strips and one small dent in the passenger door.
Because the 250C coupe had been sitting for a long time, the fuel tank had to be removed, drained and cleaned before the vehicle could be started because the old gasoline had oxidized. After that was done, the car’s new owner trailered it back to the San Francisco Bay Area. Then he did the first thing we recommend when evaluating a car for possible purchase: He took it to a knowledgeable local mechanic for a more complete evaluation to get a clear indication of its mechanical condition.
The evaluation indicated that even though the engine could be started and would run and idle, it was running erratically. The preliminary diagnosis was both Zenith carburetors needed to be cleaned and rebuilt and a leaking intake manifold gasket would need to be replaced. Compression and leak-down tests were also recommended to ensure the air-intake leak had not caused any burned valves.
For safety purposes, the mechanic advised that the brake system be rebuilt, including the master cylinder, and all wheel cylinders and brake hoses and the battery should be replaced. Though the tires had good tread, they were more than 15 years old: Those, too, would need replacement. The air conditioner needed to be recharged with Freon R-12 and serviced. The automatic transmission needed attention; the transmission fluid should be replaced and the vacuum modulator checked. Finally, because the car sat so long with little use and servicing, the suspension really needed to be inspected for damage; lubrication grease can become so hard to cause broken lower control arms and loose kingpins.
Based on the evaluation, the mechanic reported that costs to make the car roadworthy could vary from approximately $3,000 to correct the obvious mechanical issues to as much as $12,000 if the engine needed to be rebuilt and suspension pieces needed to be replaced. This is a classic example of a 46-year-old car that has only 77,824 miles: That is the good news and the bad news.
Then we discussed the emotional aspects of the decision. The car’s new owner told me he didn’t need another daily driver. Moreover, it wasn’t a model and year that had any particular appeal to him. Finally, even though it had been in the family for many years, he didn’t have any emotional attachment to it. Based on that information and the evaluation of the car’s cosmetic and mechanical condition, he had decided to sell it, so we talked about a sales strategy.
He particularly wanted to know if he should fix the intake manifold leak and repair the brakes so the car could be sold as a reliable and safe daily driver, or just sell it in “as-is” condition – and what price should he ask? Reviewing the assessment we had done and taking into account obvious repairs that would be needed and potential uncertainties regarding the internal condition of the engine, in the condition definitions of the Hagerty Price Guide, I concluded this is a No. 4-condition car.
Although these coupes were produced in relatively low numbers and are unquestionably attractive, they have yet to find any significant following in the collector-car hobby. Consequently, the Hagerty Guide rates a No. 4 1970 250C at about $4,800; the next level up is only estimated to be worth approximately $7,800. So even if he doesn’t encounter any unexpected engine issues, the additional investment of $3,000 to take it up to No. 3 condition wouldn’t net him additional money. And if he did run into more problems, he could quickly find himself, as the classic restoration term has it, “under water.”
On the other hand, someone who is interested in that particular make and model – and believes it’s likely to appreciate – might see the upside potential of making it a No. 2 car that’s worth $11,500 in the present market – or even a No. 1 car that could be worth $17,500 at this time. By buying it at a fair price for a No. 4 car, an enthusiast could then perform the work required or take it to a trusted mechanic. The car needs no body or interior woodwork – the real killers in restorations – and by doing or supervising the mechanical work, the new owner would avoid any uncertainties about the quality of work, something that is unavoidable when buying a car repaired or restored by someone else. Taking all of that into consideration, my recommendation to the car’s new owner was that he should put it on the market at an asking price of approximately $5,000. And that is what he has decided to do.
This 1970 W114 250C is basically in very good cosmetic shape.
Exterior and interior show almost no wear, with the exception of a few small dents in chrome trim strips and one small dent in the passenger door.
The good news: The interior, including the upholstery, is almost like new. This is a fine car waiting for the right owner to reawaken it with a bit of patience and care.
The bad news: Because the vehicle sat for so long with so little use and irregular servicing, the next owner will need to go through the major mechanical systems, including engine, suspension and brakes.
Richard Simonds has made his comprehensive used-vehicle evaluation form available for download at the club website: Go to www.mbca.org, login, click on “Community,” click on “MBCA Resources” go to “Other” and then click on “Automobile Assessment and Value Worksheet.doc
