1998 Mercedes-Benz SL500 For Sale With 68,800 MilesAutoblogKyle EdwardWed, September 23, 2026 at 6:12 PM UTCAdd us on GoogleAutoblog and Yahoo may earn commission from links in this article.Cheap R129s are easy to find and expensive ones are usually cheap for a reason, which makes the service record the first thing to read here. This SL500 shows two entries on Carfax across its life, the most recent substantive work being drive belts, a rear crankshaft oil seal, and valve cover gaskets in November 2018. Bidding stands at $3,000 with five days remaining at no reserve.1998 Mercedes-Benz SL500Cars & BidsWhat it's worth right nowMarket data from Classic.com puts the average R129 SL500 sale at $18,741 with a market benchmark of $19,978, spanning $2,600 for a 2000 example in November 2025 to a top result of $70,000 for a 2002 Silver Arrow. There are 45 currently listed for sale.AdvertisementAdvertisementCondition places this one toward the bottom of that range. The factory hardtop, two keys, and a clean Carfax help, while a quarter panel dent, a torn seat bolster, exhaust corrosion, chipping chrome, and a service file showing nothing substantive since 2018 all pull hard. Fair value lands between $9,000 and $16,000, with $12,000 most likely. No reserve means the market decides outright.1998 Mercedes-Benz SL500Cars & BidsCondition and detailsThe specification is standard rather than special. The build sheet lists 16-inch alloy wheels, xenon headlights, a power-retractable soft top, a body-colored removable hardtop, wood interior trim, leather upholstery, power heated seats with memory, and automatic climate control. Two keys, the owner's manual, the hardtop, and a bill of sale from the second owner's purchase accompany the car, which has reportedly been registered in Colorado since 2002.1998 Mercedes-Benz SL500Cars & BidsThe service record is the central problem. Carfax shows work in November 2018 at 66,166 miles covering drive belts, a rear crankshaft oil seal, a serpentine belt, valve cover gaskets, and an oil change, then a splash shield repair in April 2023, and nothing else. That leaves 2,600 miles and eight years with no documented maintenance on a car that is now 28 years old, and the seller confirms Carfax shows no work done to the convertible top.1998 Mercedes-Benz SL500Cars & BidsFour disclosed flaws carry real cost. There is a dent on the passenger-side quarter panel, paint chipping on chrome surfaces, a tear on the driver's seat bolster, wear on the interior door speaker panels, and corrosion on exhaust components. The selling dealer acquired the car in June 2026 and has added 70 miles, and charges a $299 documentation fee. A pre-purchase inspection should verify the soft top hydraulics and the roll bar mechanism before bidding.1998 Mercedes-Benz SL500Cars & BidsAdvertisementAdvertisementThe offerSpecificationDetailMakeMercedes-BenzModelSL500 (R129)Year1998Mileage68,800 milesEngine5.0-liter M119 V8Power315 horsepower and 347 lb-ft of torqueTransmissionFive-speed automaticDrive typeRear wheel driveExterior colorNeve WhiteInterior colorMushroomCurrent bid$3,000 with five days remaining, offered at no reserveInterested in this car? View the listing here.What makes the SL500 uniqueOver-engineering defined the R129. Mercedes launched it for 1990 with a roll bar that deployed automatically in a rollover, electronically controlled damping, and a power soft top that stowed itself, a specification that read like science fiction at the time and still works on cars three decades later when maintained. The shape has aged into something close to timeless.1998 Mercedes-Benz SL500Cars & BidsDepreciation has been total and instructive. A car that cost close to $90,000 new now averages $18,741, which puts a hand-built German roadster inside the budget of a used commuter. The catch is that the hydraulics, the electronics, and the V8 all still cost what Mercedes charged to fix them, which is why the gap between a maintained R129 and a neglected one runs into five figures.My takeAt $3,000 with ten bids and five days to run at no reserve, my call is $12,000, with $16,000 possible if the hardtop and the low mileage draw the right buyer. What works in its favor is the format, since no reserve on a genuinely presentable R129 with its body-colored factory hardtop, two keys, and 68,800 miles means somebody gets a usable car for the price of a deposit elsewhere. What keeps the number modest is everything undocumented, because a quarter panel dent, a torn seat bolster, exhaust corrosion, and no substantive service record since 2018 describe deferred cost rather than a bargain. Inspect the top and the roll bar, then bid what the repairs allow.AdvertisementAdvertisementDisclaimer: This post is for informational purposes only. We are not a dealership or broker. All vehicle specifications, pricing, and availability are subject to change without notice. We are not responsible for typographical errors, omissions, or the accuracy of the provided information. Please verify all details directly with the seller.Autoblog aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.This story was originally published by Autoblog on Sep 23, 2026, where it first appeared in the Car Buying section. Add Autoblog as a Preferred Source by clicking here.