Classic Mercedes have become notorious high sellers at auction in the past few years, and the 280 SL is no exception. What started as a humble tourer has morphed into one of the most effortlessly cool vehicles around. If there were ever a vintage car perfectly suited to Instagram fame, it is the Mercedes 280 SL.

Of course, there is more to the 280 SL than it’s looks. Its 2.8L engine made for an engaging drive and the car also came with some highly collectable options like the rare 5-speed gearbox. Produced between 1968 – 1971, 23,885 280 SLs were produced, making it the most popular of the three engine choices offered by Mercedes.

If you’re reading this, then there is a strong chance that you’re a pagoda fan; it’s an iconic and good looking classic car, but should you buy one?

Recent auction data from UK auctions suggests that if you bought a good condition 280 SL five or six years ago you would be enjoying a wave of appreciation both for your car and in its value. The 280 SL and other W113 models are climbing in value. Rarity is surely a factor here too, with half of the pagodas made going to the U.S., meaning UK numbers are low with only 663 left on British roads.

There is certainly time and room to enter the 280 SL market at a decent price at auction. A cursory glance at the classifieds reveals the majority of examples are listed for above £80,000 – with one extremely low mileage example up for £199,950!

Yet at UK auction houses the values haven’t quite reached that level, with recent sales hovering below the £75,000 mark. Indeed our data shows the extremely high priced examples being rejected by buyers at auction.

Following a meteoric rise, Mercedes 280 SL prices may well plateau in the coming months. Failing sales at auction suggest that the best days of growth are behind us for now, but prices are unlikely to fall either.

For now, it might be best to just take in the fantastic shape…