The Mercedes-Benz E-Class, particularly the 124 generation, is one that’s loved by a lot of people. That’s not even a matter of opinion. Ask any classic Mercedes fan what the peak E-Class is for them, and you’re likely to get that model for an answer.
Launched 40 years ago (November 1984, to be exact), the W124 ushered in a new era for Mercedes-Benz. It combined almost everything that made its predecessor, the W123, durable and lovable, with advances in technology and aerodynamics. Safe to say that the world embraced this Benz as over 2.5 million units were produced.
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It’s a desirable model to this day as it’s often regarded as the last of the ‘over-engineered’ Benzes. But, the 500E and AMG models aside, no one would call this generation rare. With that, we’re not expecting these things to sell for silly money. That is until we stumbled upon an auction in Bring A Trailer.
Recently, a late-model W124 sold for, get this, $101,000. It’s not a sporty or particularly rare variant either. The car wasn’t owned by a celebrity, and it’s one of the millions made. This dark blue example is a rather humble E300 Diesel.
Yes, someone paid nearly P6,000,000 (around P5,920,000 at current exchange rates) for a 29 year-old car that was launched in the mid-‘80s and developed in the late-‘70s. For reference, it’s more expensive than the list price of a brand new E-Class in the Philippines, at least before the current model was discontinued here.
So how did it end up selling for that much? It helps that it’s an extremely low-mileage example with just 8,400 miles (approx. 13,520 kms). Diesel Mercedes-Benzes, particularly of this era, were flogged hard and it’s fairly common to see these things rack up over 500,000kms in their lifetimes. The exterior and interior are spotless and match the mileage of the vehicle. It’s practically a museum-grade car that still sees maintenance and service often despite the low miles.
Looking at the bidding history, things started out sane. There were bids that started at $5,000, but it soon escalated pretty quickly. Two buyers went on a bidding war that saw its price rise quickly from $50,000 to, eventually, the eye-popping price it was sold for.
The E300 Diesel’s specs seem pedestrian by today’s standards. Sure, it had a 3.0-liter inline-six under the hood, but it’ll be easily dusted off the lights by a modern midsize SUV. It only made 134hp and 210Nm of torque, so it wasn’t a rocket even during its heyday. The four-speed automatic would surely sap some of the power with its long gearing, too.
But still, it’s a W124 Mercedes. It’s one of the best cars to ever wear that three-pointed star. The 124 wasn’t about outright pace, it was about giving you that rock-solid build quality and composed ride that some modern Benzes can’t match anymore. This was a car that was made during the time engineers outranked the accountants at Mercedes. Seeing these on the road, regardless of condition, is also a testament to its longevity and durability.
Of course, this six million peso 124 is an extreme outlier. However, this sale could set a precedent with this model’s values. Heck, ten years ago, you can get a pristine example for just P200,000. These days, you’ll have to pay double that for a well-kept one. Perhaps now is a good time to buy one. It might just be a good investment. But that’s if you have the heart to sell it after falling in love with it.
