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SOLD 1993 500E, Pearl Black/Black, 95kmi, BaT auction (North Salem, NY)

gsxr

.036 Hoonigan™, E500E Boffin, @DITOG
Staff member
No affiliation.

VIN = WDBEA36E8PB845652

Datacard: https://www.lastvin.com/vin/Pgkjo2Nj3L12Va4qZ


1993 Mercedes-Benz 500E

This 1993 Mercedes-Benz 500E has remained registered in New York since new and now shows 95k miles. It is powered by a 5.0-liter M119 V8 paired with a four-speed automatic transmission and is finished in Black Pearl Metallic over black leather upholstery. Equipment includes 16″ eight-hole alloy wheels, a power sunroof, fog lights, Automatic Slip Control, automatic climate control, a Continental head unit with Bluetooth connectivity, heated power-adjustable front seats, and cruise control. Acquired by the selling dealer in 2024, this W124 500E is offered at no reserve with a clean Carfax report and a clean New York title.

The 500E was assembled by Porsche and featured wheel arch flares, revised bodywork, and a lower ride height when compared to other W124 models. This example is finished in Black Pearl Metallic (199) and features gray lower cladding. Additional exterior features include headlights with washers and wipers, integrated fog lights, a retractable antenna, an aftermarket rear wing, and a power sunroof. Photographs of paint-meter readings are presented in the gallery.

Silver 16″ eight-hole alloy wheels are mounted with Yokohama Avid Ascend GT tires. The car is equipped with Automatic Slip Control (ASR). Braking is handled by four-wheel ventilated discs.

The cabin features heated power-adjustable front seats upholstered in black leather along with a color-coordinated lower dashboard, door panels, and carpeting. Amenities include automatic climate control, driver’s seat position memory, a Continental head unit with Bluetooth connectivity, a power-adjustable steering column, dual front airbags, and cruise control.

The four-spoke leather-wrapped steering wheel frames a 160-mph speedometer, a tachometer with a 6k-rpm redline, an analog clock, and gauges for oil pressure, coolant temperature, and fuel level. The six-digit odometer shows 95k miles. The 5.0-liter M119 DOHC V8 was factory-rated at 322 horsepower and 354 lb-ft of torque, which is sent to the rear wheels through a four-speed automatic transmission. The Carfax report is free of accidents or other reported damage from its first entry in January 1998.







1993_mercedes-benz_500e_img-615-60860-scaled.jpg
 

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The unspoken history is fascinating. You can tell at one time, prior to this car’s acquisition by the selling dealer, that this car was cherished by its owner. The elaborate sound system (with now gone head unit), the stitched leather center console, and the Lorinser spare wheel in the trunk (I bet the other wheels were the same at one point) are clues.
 
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Interesting to see this car's price so low, so close to the end of this auction. A couple of years ago, this car's price (sub-100K miles, past enthusiast-owned) would have likely been $40K and perhaps well north of that.

It is very clear that the E500E market is (and has been for a bit) in a significant downswing and/or plateau, with the exception being "extraordinary" cars. As we have seen numerous times over the years, the market will climb again, but it is likely to continue in the current state likely into 2025. I think we will see values hit the past peaks, in the future, but it is going to take some time for prices to build back up.

Interestingly, the current elevated equities market and housing market, which traditionally make people feel "richer" (for example, when their 401(k) is rising, or their home value is climbing - think HELOC for car purchases), the current downswing in E500E prices is not correlated to this, as it has roughly been in the past.

I believe this is because most people are generally "tapped out" financially and are conserving cash to pay down debt, making less money available for "fun" purchases like an E500E or other garage bauble.
 
Interesting to see this car's price so low, so close to the end of this auction. A couple of years ago, this car's price (sub-100K miles, past enthusiast-owned) would have likely been $40K and perhaps well north of that.

It is very clear that the E500E market is (and has been for a bit) in a significant downswing and/or plateau, with the exception being "extraordinary" cars. As we have seen numerous times over the years, the market will climb again, but it is likely to continue in the current state likely into 2025. I think we will see values hit the past peaks, in the future, but it is going to take some time for prices to build back up.

Interestingly, the current elevated equities market and housing market, which traditionally make people feel "richer" (for example, when their 401(k) is rising, or their home value is climbing - think HELOC for car purchases), the current downswing in E500E prices is not correlated to this, as it has roughly been in the past.

I believe this is because most people are generally "tapped out" financially and are conserving cash to pay down debt, making less money available for "fun" purchases like an E500E or other garage bauble.
And its not that the cars aren't desirable... everyone loves these cars, they just want them for the price of a 300E which ain't happening
 
It's just a natural cycle. There has been a huge run-up in .034 prices over the past couple or three years, I think because many buyers consider that model to be a mini-500E.

HOWEVER, there is a LOT of good juju for the E500E market ahead of us, in the medium term.

My prediction is that when Trump wins the 2024 election and is re-inaugurated in early 2025, a general market and economic "enthusiasm" (I won't go so far as to say 'irrational exuberance') will ensue as various Biden-era executive orders and regulations are immediately struck down. Just as happened in early 2017 when Trump came into office -- there was an immediate dam-break of economic growth and activity and market enthusiasm, and all of this manifested in huge price growth in the E500E market for the next several years.

By Biden-era orders and regulations being struck down, I'm talking about things like the quasi-EV-mandates, energy exploration and production restrictions, and various climate-related, tax and economic policies that will be changed and rolled back. The markets are going to get excited when Trump cancels the impending & onerous restrictions on gas appliances and A/C units, refrigerators and the like.

The rollback will especially be true due to to the recent Supreme Court "Chevron Deference" decision that essentially neuters the ability of government agencies to create regulations and mandates out of thin air, and puts the onus (back where it belongs) on Congress to write and pass more specific and detailed laws. So, for example, in the future the EPA won't be able to arbitrarily rule that carbon dioxide is a toxic environmental hazard (especially because it is a component of air and an essential component that all plants need to live). Or that all states must follow California's emissions standards ... that type of thing.
 
Sold for $29,150 which is about $30,600 with fees.

Top 5 bidders all bunched in the upper 20's. Feels like this was very well bought.

Sold on for $29,150 to jojo93
$28,888 bid placed by tonykingnyc
$28,555 bid placed by cutoosunny
$27,750 bid placed by ryanp116
$27,050 bid placed by ProsperoStaff
 
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