- A rare Mercedes convertible that had been parked in an Indiana warehouse for more than 40 years just sold for nearly $1.1 million.
- The car, a 1960 300SL Roadster, is one of the hottest collectibles in the classic-car world today, and they rarely go for less than seven figures.
- The Roadster was purchased by its previous owner in 1976 and was tucked away soon after, so it shows less than 15,000 miles on the odometer.
- It’s one of only 249 300SL Roadsters built for 1960, according to the dealership that sold it, making it an exceedingly rare car.
- Visit Business Insider’s homepage for more stories.
A Midwesterner’s ultra-rare Mercedes-Benz 300SL Roadster that had been hidden away for more than 40 years just sold for more than $1 million.
Seven figures is undeniably a huge sum for what looks like a dusty old sports car, but this isn’t just any dusty old sports car.
In today’s classic-car market, the 300SL Roadster and its Gullwing sibling are two of the hottest collectibles money can buy. All in all, Mercedes only built 1,848 Roadsters between 1957 and 1963, and the Roadster that just sold is one of only 249 produced for the 1960 model year, according to the dealership that sold it.
They generally go for at least $1 million at auction, and untouched “survivor” cars like this one can be even more prized than restorations. That’s why it doesn’t come as a surprise that after the car was listed by New York-based classic-car dealership Gullwing Motor Cars for $1.095 million, the dealership confirmed to Business Insider that it went for the full asking price.
Besides being tucked away in a barn for four decades, this particular 300SL Roadster came with low miles and a known ownership history, making it particularly valuable.
Learn more about this remarkable, 60-year-old Mercedes - initially dug up by Barn Finds - that's worth more than $1 million even in non-running condition:
An extremely rare 1960 Mercedes-Benz 300SL Roadster was recently discovered after sitting in an Indiana warehouse for decades.
Even in its somewhat sorry condition, it sold for its full asking price of $1.095 million through Gullwing Motor Cars in New York City.
That may seem like a lot for a dusty old car — and it certainly is — but the Mercedes-Benz 300SL is one of the most iconic and desirable collector cars in today's market.
They seldom sell for less than seven figures ...
... and clean examples often bring in north of $1.5 million at auction.
This one's particularly special because it sat untouched for more than 40 years.
It’s not in the best condition, but that’s part of what makes it so valuable.
The dealership selling the car said it was "an extremely rare and exciting opportunity to own one of the very last unrestored 300SL Roadsters in existence."
Not to mention, this coveted convertible didn't change hands several times over the years — it's stayed with the same owner since the late 1970s.
According to the seller, the car spent some time in Chicago before it was bought by its longtime owner.
After driving his brother's 300SL, the owner was inspired to buy his own Roadster.
Soon after purchasing his new Merc, however, the owner tucked it away in a warehouse where it sat for decades.
That is, until Gullwing Motor Cars bought it from the owner’s estate.
Despite being 60 years old, this 300SL Roadster has racked up less than 15,000 miles on the odometer.
The car is one of only 249 300SL Roadsters built for the 1960 model year ...
... and it's one of 1,848 models built during the Roadster's production run from 1957 to 1963.
Source: Hemmings
The car was found to have matching numbers, meaning the major components like the chassis and body are original and weren’t swapped out over the years.
Plus, it was sold with its data card from the manufacturer, which details how the car was initially outfitted when it left the factory.
While this 300SL Roadster has a lot going for it, there is one key fact that may have knocked its value down a few notches.
It was originally finished in a rare "Blaugrau" — blue-grey — paint job and had matching blue leather seats.
At some point, according to Gullwing Motor Cars, the drop-top's exterior was repainted in silver ...
... and the interior was dyed black.
But even if that did hurt the Roadster's resale value or tarnish its purity, it's tough to complain about a $1 million payday.
The car was sold to its new owner with a factory hard top, soft top, and jack.
The seller didn't note the condition of the engine, but it's safe to say it'll need a full rebuild.
That means this 300 SL's new owner will need pockets deep enough to fully restore it to its former glory, even after dropping seven figures on this dusty specimen.
