Prices of modern classic cars have been shooting up in India of late. This is particularly true of specific Mercedes models where growth has been nothing short of meteoric; some models far exceeding even the global trend.

The bulk of this growing appreciation comes from a generation of buyers who saw these cars as unattainable poster cars of their youth. This is partly why modern classic Mercs from the 1980s to the early 2000s are now so desirable and collectable. Also powering this trend in India are the classic and modern classic car gala events, for which enthusiasts are often buying cars and restoring them with the specific intention of displaying them at these showcases. Premier events like the Mercedes-Benz Classic Car Rally and the Autocar India Modern Classic Rally, for example, are seeing a massive year-on-year ramp up in participation.

Mercedes AMG SLS’ have nearly tripled in value since launch

The poster child of this movement has to be AMG’s SLS, a car whose value keeps rising and rising. While some of its appeal undoubtedly comes from its 300SL-like gullwing doors, it’s not just those doors. It’s everything; the design, the engineering, the engine, and the manner in which it drives. First up, the now-iconic muscular neo-retro design has timeless appeal. 

Then there’s the clean sheet engineering of AMG’s first car – its aluminium spaceframe, rear-mounted transaxle, and most of all, the muscular and analogue driving experience. Then there’s the M159, a special version of AMG’s famous raucous, loud, super responsive and happy to rev, naturally aspirated 6.2-litre V8. Prices of this car, which went on sale in India at Rs 1.8 crore and at one time went down as low as Rs 80 lakh, hover around the Rs 5 crore mark today!

Mercedes W124: The Indian idol

But it’s not just the high-end cars. A car that has also shot up in recognition, respect and value is the relatively humble but still legendary W124, the first Mercedes-Benz sold in India. That it wasn’t a showroom success in India is now legend. Still, what resonates with enthusiasts today is the combined appeal of the design, build, underlying engineering and robust support provided by Mercedes. The wedge-shaped profile, with its chamfered edges, squared wheel arches and ‘solid’ stance still gets folks to drool.

Then there’s the fact that this is considered to be among the best built Mercedes ever. And it’s a car from an era where engineers made cars without tight budgets. Also, this car is so well engineered, well-looked-after W124s run reliably even today! Whilst the first Tata-Mercedes-assembled W124s sold for Rs 19 lakh when new, and the value had fallen pre-2014 to below Rs 2 lakh, prices today have surged past the double-digit mark.

Good cars go for between Rs 8 lakh and Rs 12 lakh today, with owners often spending up to Rs 10 lakh in restoration. Also, want to buy a W124 in showroom condition? Be ready to fork out Rs 15 lakh-20 lakh, and that incredibly brings the price back to what the car was first sold for in 1995, something that seldom happens to four-door sedans.

What’s more, prices for sedans like the W114/115 start at Rs 15 lakh in India, which, due to their scarcity, are the highest anywhere. Even more incredible, W111 fintail sedans sell for over Rs 65 lakh today, which hovered around Rs 5 lakh in 2014.

Mercedes SL: Blend of sport and luxury

Also shooting up are prices for Mercedes’s drop top, the SL. Prices for the iconic ‘pagoda’, or W113, which could have been bought for around Rs 3 lakh-4 lakh in the early 2000s – with a fair amount of work needed on them – are today changing hands for upwards of Rs 2 crore; if you can find one, that is. Mercedes-Benz Classic car rally curator Perseus Bandrawalla remembers missing buying one from the Pedder family for Rs 2.5 lakh in 2002.

Also steaming up the charts, the R107. Lovingly known as the ‘Panzerwagen’ because of its tough build, these were often resold by the State Trading Corporation. While they were always expensive, the Rs 10 lakh-12 lakh price tag in 2014 has zoomed up to around Rs 60 lakh in 2020, with good cars going for even Rs 1 crore.

Then there’s the R129, among the fastest appreciating SLs today. With its electronic controls, early 90s engines, solid build and electrically folding roofs, this is often considered to be the ultimate modern classic. While these cars were available for between Rs 20 lakh and Rs 25 lakh a few years ago, prices are fast appreciating. Today, good examples are fetching between Rs 45 lakh and a crore. A real-life example is that an SL 600 (ex-Sachin Tendulkar car) that was sold for Rs 90 lakh during the lockdown had an asking price of over Rs 1.5 crore recently.

Mercedes S-class: S for slender

Also climbing are the prices of old S-Classes. This again is especially true of cars like the impossibly elegant and bold W126, another ’80s icon. While these cars changed hands for between Rs 5 lakh and Rs 7 lakh in 2014 and 2015, 500 SELs today go for around Rs 60 lakh-65 lakh. You can still get well-maintained six-cylinder 300SELs for around Rs 20 lakh, though.

The cherry on the cake, however, has to be a 1955 300Sc, the world’s first fuel-injected four seater. Bought for Rs 1.8 lakh (then the price of two large luxury apartments in south Bombay) in the late 1960s by Pranlal Bhogilal from the ruler of Sikkim, today it is valued at $ 1.5 million in international markets, or Rs 14 crore, without duty! And since this one isn’t going on sale, be prepared to spend much, much more if you really, really want to get one.

Climb aboard, get in

So, if you are a Mercedes modern classic enthusiast, now’s the time to act. Do your homework on prices, estimate what it is likely to cost to restore the car (the real figure is often twice or even thrice your estimate) and take the plunge; you just might find yourself as the owner of a Mercedes modern classic that could have both timeless appeal and a fast appreciating asking price. See you at the Mercedes-Benz Classic Car Rally or the Modern Classic Rally sometime in the future.