Year in Review 2023: Key Developments in the Used Car Market
2023: A Year of Stabilization
The year 2023 was characterized by normalization after the turbulent pandemic years. The used car market for premium vehicles showed interesting developments that we summarize here.
Annual Overview by Brand
BMW - Winner of the Year
| Model | Price Jan 2023 | Price Dec 2023 | Change |
|---|---|---|---|
| E38 7 Series | €12,800 | €15,200 | +18.8% |
| E39 5 Series | €7,200 | €7,850 | +9.0% |
| E46 3 Series | €6,500 | €6,900 | +6.2% |
| E39 M5 | €28,500 | €32,400 | +13.7% |
The BMW classics from the E series experienced a renaissance. The E38 7 Series and E39 M5 in particular were rediscovered by collectors.
Mercedes-Benz - Solid Performance
| Model | Price Jan 2023 | Price Dec 2023 | Change |
|---|---|---|---|
| W140 S-Class | €11,500 | €13,200 | +14.8% |
| W210 E-Class | €5,400 | €5,650 | +4.6% |
| W124 E-Class | €10,200 | €11,800 | +15.7% |
| CLK W209 | €7,800 | €8,100 | +3.8% |
The W140 consolidated its status as a collector’s vehicle. The last “true” S-Class before the electronics era continues to gain value.
Audi - Quattro Renaissance
| Model | Price Jan 2023 | Price Dec 2023 | Change |
|---|---|---|---|
| B5 A4/S4 | €5,600 | €5,950 | +6.3% |
| C6 A6 | €9,800 | €9,950 | +1.5% |
| RS4 B5 | €36,500 | €42,800 | +17.3% |
| A3 8L | €3,200 | €3,450 | +7.8% |
The RS4 B5 continued its ascent. The biturbo engine and Quattro technology make it a sought-after collector’s item.
The Biggest Winners of 2023
Top 5 Price Increases
| Rank | Model | Increase | Reason |
|---|---|---|---|
| 1 | BMW E38 7 Series | +18.8% | Youngtimer boom |
| 2 | Audi RS4 B5 | +17.3% | Collector interest |
| 3 | Mercedes W124 | +15.7% | Classic status |
| 4 | Mercedes W140 | +14.8% | “Last of its kind” |
| 5 | BMW E39 M5 | +13.7% | Last naturally aspirated M5 |
Market Trends 2023
Trend 1: Youngtimer Value Increase
Vehicles from the late 90s and early 2000s reached the “sweet spot”:
- 20-25 years old
- Last generation before complex electronics
- Spare parts still available
- Tax benefits as youngtimers
Trend 2: Quality Over Quantity
Buyers increasingly preferred:
- Complete service history
- Low mileage
- Original paint
- Known previous owners
Trend 3: All-Wheel Drive Demand
Quattro and xDrive models achieved premiums:
- Winter capability
- Higher resale value
- Better long-term stability
Listing Analysis
Average Days on Market
| Category | Days 2022 | Days 2023 | Trend |
|---|---|---|---|
| Under €10,000 | 45 days | 38 days | ↓ |
| €10,000-25,000 | 62 days | 55 days | ↓ |
| Over €25,000 | 95 days | 78 days | ↓ |
Demand exceeded supply, especially in the premium segment.
Seasonal Patterns
Best Buying Times 2023
- January/February: After Christmas, dealers motivated
- July/August: Summer vacation lull
- November: Before year-end sprint
Periods to Avoid
- March-May: Spring peak season
- September/October: After IAA, high demand
Mileage Correlation
Our annual analysis shows clear patterns:
| Vehicle Age | Price/Mileage Correlation | Interpretation |
|---|---|---|
| 5-10 years | -0.85 | Mileage very important |
| 10-15 years | -0.72 | Mileage important |
| 15-20 years | -0.58 | Condition more important |
| 20+ years | -0.41 | History decisive |
Outlook for 2024
Expectations
- Q1: Slight price correction after year-end sprint
- Q2: Stable development
- Q3-Q4: Further value increase for classics
Buying Recommendations for 2024
Buy now:
- BMW E38 7 Series – Before classic car registration boom
- Mercedes W140 – Last chance under €15,000
- Audi RS4 B5 – Still potential despite high level
Watch:
- BMW E46 M3 – Could take off in 2024
- Mercedes CLK W209 – Underrated sleeper
Conclusion
2023 was a good year for owners of premium used cars from the 90s and 2000s. Prices rose moderately but steadily. For 2024, we expect a continuation of this trend, with well-maintained examples with complete history remaining the best investments.
Analysis based on our market data from 2023. Find detailed model pages in our overview.