Mercedes W140 S-Class: The Underrated Investment
The “Last True Mercedes”
The Mercedes-Benz W140 S-Class (1991-1998) is referred to by enthusiasts as the last Mercedes where quality came before cost-cutting. A look at the market and value development.
Why the W140 is Special
Uncompromising Construction
| Property | W140 | Successor W220 |
|---|---|---|
| Door weight | ~90 kg | ~60 kg |
| Double glazing | Standard | Option |
| Engine choices | V6, V8, V12 | V6, V8, V12 |
| Electronics complexity | Moderate | High |
The W140 was developed before the Daimler-Chrysler merger led to cost optimization.
Technical Highlights
- Double glazing: Best sound insulation of its era
- Soft-close doors: Standard on all doors
- V12 option: For S600 and CL600
- Parking assistant: PTS as pioneering technology
Current Market Situation
Price Development
Our data shows an upward trend since 2023:
- Average price: €14,234
- Minimum: €3,500 (high km, maintenance backlog)
- Maximum: €45,000 (S600, low km, top condition)
- Trend: +10% per year
Prices by Engine
| Engine | Average | Trend |
|---|---|---|
| S320 (M104) | €11,500 | rising |
| S420 (M119) | €13,200 | rising |
| S500 (M119) | €15,800 | rising |
| S600 (M120) | €28,500 | strongly rising |
Why Prices Are Rising
1. Collector Awareness
The W140 is hitting the sweet spot for collectors:
- 25+ years old = historic registration possible
- Still available in good condition
- Reputation as “über-Mercedes” established
2. International Demand
Demand from USA and Asia is rising for European examples with complete history.
3. Rarity Factor
Many W140s were scrapped due to high maintenance costs. Good examples are becoming scarcer.
Buying Guide
Recommended Engines
For Beginners: S320
- Robust M104 inline-six
- Lower maintenance costs
- Sufficient power (231 hp)
For Enthusiasts: S500
- V8 experience with 320 hp
- Good parts availability
- Still affordable upkeep
For Collectors: S600
- Ultimate W140 experience
- V12 with 394 hp
- Highest appreciation potential
Known Problem Areas
Electrical:
- Infrared remote (often defective)
- Climate control unit
- Seat adjustment
Mechanical:
- Automatic transmission (torque converter)
- Front axle (ball joints, bushings)
- Hydraulic hoses (power steering, ABC if equipped)
Body:
- Rear fenders (wheel arch)
- Sills
- Trunk lid (chrome strip)
Buying Checklist
- Rust check: Especially wheel arches, sills, door bottom edges
- Air conditioning: Must blow cold, check R134a conversion
- Transmission: Smooth shifts, no slipping
- Compression: Especially important for V8/V12
- History: Service book, preferably Mercedes history
Comparison with Competitors
| Model | Avg Price | Appreciation/Year |
|---|---|---|
| Mercedes W140 S500 | €15,800 | +10% |
| BMW E38 740i | €14,500 | +12% |
| Audi D2 A8 4.2 | €9,800 | +6% |
The W140 is in the middle, but has the best reputation for long-term quality.
Investment Potential
Short to Medium Term (1-5 years)
- S320/S420: Moderate appreciation expected
- S500: Good appreciation, broadest buyer base
- S600: Highest potential but also highest risk (maintenance)
Long Term (10+ years)
Forecast: The best examples will reach €50,000+, comparable to W126 development.
Our Recommendation
The W140 is still attainable, but entry prices are rising. Those looking to buy should:
- Budget for maintenance: €2,000-5,000/year
- Focus on quality: Better to buy expensive than repair cheap
- Prioritize history: Complete documentation is worth gold
- Prefer S500: Best value for money
Price data from our current market analysis. Details on the W140 model page.