The car commanded a heavy premium over its rivals – a starting price of £8000 in 1979 translates to £41,000 today – but a large portion were run on a tight budget, and the results are plain to see today: available models range from basket-case barn finds (steer well clear) to concours cars that have been restored at great expense to their owners.
The handsome estate version – badged T for 'tourismus und transport' – is the most unattainable variant, prices now edging past what you might pay for a clean two-door 'pillarless' CE coupé, but the saloon is just about still within the realm of the casual enthusiast.
The marketplace is mostly populated by 230E models, which, as the designation suggests, pack a 2.3-litre four-cylinder petrol motor with a healthy 134bhp, but there are plenty of less potent 200 examples still up for grabs. The top-rung 280E's straight-six petrol was said to be capable of pushing the W123 to 124mph, but beware earlier carburetted versions, which are thirstier than those equipped with the Bosch fuel injection system.
Don't expect such pace from naturally aspirated diesels, whose pedestrian nature was instrumental in their famed longevity. The 300TD – featuring the world's first turbodiesel motor for a passenger car – didn't come to the UK originally, but clean examples can be found Stateside and across Europe. While there remains a healthy selection of W123s in the classifieds, its ongoing popularity is threatened by a lack of aftermarket support from Mercedes, which means that fully restored examples are often sold on at a heavy loss by owners. Usable parts can be nabbed from the plethora of crusty examples being broken in the UK and abroad, and pattern body panels are available through suppliers including Niemöller and Mecatechnic.
How to get one in your garage
An expert's view
Mark Cosovich, W123 World: "If you're considering a W123, don't take on anything with a high mileage or any projects that nobody wants and nobody can finish. Even if it's been restored, get a specialist to look at it, because they're out there with the wrong interiors and engines swapped into them. You won't find good cars on eBay, either; anything that's good will be offered via private sale or from a specialist who is happy to put a warranty on it."
Buyer beware...
■ Engine: Fuel injection cars can do massive mileages if they're correctly serviced, but the extensive Bosch system rather inhibits engine access. Look out for signs of timing chain failure.
■ Electrics: Check for vacuum leaks in the central locking system, which also locks the front seats in place. Odometer is a known weak spot, so check that the seats and pedals are as worn as the mileage suggests.
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