The surge in popularity of cars from the 1980s and 1990s within the collector car market has been a significant trend in recent years. While Japanese icons like the NSX, Skyline GT-R, and Toyota Supra Turbo have spearheaded this movement, discerning enthusiasts are also turning their attention to a more exclusive and formidable breed from the same era: AMG. Renowned as the origin of Germany’s most thrilling high-performance vehicles, AMG, with its racing heritage, delivered some of the most exhilarating and sought-after road-legal performance machines of its time. Our recent experience driving the W124 generation E-Class super sedan, the celebrated E60 Mercedes Amg, reinforces a growing consensus among collectors—these pre-merger AMGs represent a pinnacle of collaborative engineering, born from two companies at the height of their respective powers, resulting in vehicles of unparalleled sophistication and character.
Today, AMG is fully integrated as Mercedes-Benz’s in-house performance division, its badge adorning numerous models across the current Mercedes lineup. However, prior to 1999, AMG operated as an independent tuning house, bestowing its high-horsepower magic upon a select few Mercedes-Benz vehicles. AMG gained widespread recognition in the mid-1980s for its Mercedes modifications, and the collaborations between the two companies throughout the subsequent decade were characterized by limited production runs, adding to their exclusivity. The most iconic of these early creations was an E-Class from 1986, equipped with a 5.0-liter AMG-built V-8, rightfully nicknamed “The Hammer.” Producing a staggering 355 horsepower and 388 lb-ft of torque, the Hammer delivered supercar-level performance combined with the luxury, comfort, technology, and practicality that defined Mercedes-Benz’s dominance in the 1980s. Car and Driver‘s assessment perfectly captured the essence of this machine, stating that “AMG crafts [the car] to pound everything else flat.”
The Mercedes-Benz E60 AMG emerged later, for the 1994 and 1995 model years, building upon the foundation of the Porsche-developed E500 sedan. While perhaps less widely known than the Hammer, the E60 AMG is no less remarkable. The journey began with a customer ordering an E500 (designated as such from ’94 onwards, previously known as the 500E). Opting for the “957” option code, which cost approximately $22,000 in today’s money, would send the W124 chassis—already having visited Porsche’s assembly line in Zuffenhausen and Mercedes-Benz’s Sindelfingen factory for painting—an additional 30 km north to AMG’s facility in Affalterbach. There, undergoing transformation into an E60 AMG, it received a hand-assembled 6.0-liter V-8 engine, generating an impressive 375 horsepower and 428 lb-ft of torque. The 957 “AMG Technology” package also included upgraded suspension components—sway bars, springs, and dampers—along with distinctive three-piece, 17-inch “Aero III” wheels and an AMG exhaust system featuring polished twin square tips.
Historical records from Mercedes-Benz and AMG during this period are notoriously incomplete. However, consensus estimates suggest that only around 45 examples of the E60 AMG were produced between September 1993 and November 1994. The original price tag was $108,700, equivalent to approximately $236,300 today. It is believed that nearly all of these cars were equipped with option code 958, denoting the “Limited” appearance package, also available on late-model E500s. The original 958 package featured 17-inch forged aluminum wheels from the Mercedes 190E Evo II, and a unique two-tone black and gray leather trim for the seat centers, steering wheel, gear shift knob, and owner’s manual pouch.
In its Sapphire Black Metallic finish, this E60 AMG exudes a distinctly menacing presence. The three-piece, painted wheels and understated chrome exhaust tips add a touch of 90s flair, yet the Bruno Sacco-designed exterior remains elegantly restrained. This simplicity speaks to its purpose—the proportions of the W124 chassis Mercedes are timeless, while the 1.5-inch wider track and 0.9-inch lower ride height subtly hint at the power within.
Inside the E60 AMG: A Blend of Order and German Generosity
Beyond the subtle pops of color and trim, the interior brilliance of the Mercedes-Benz E60 AMG owes more to Mercedes-Benz and the W124 platform than to AMG’s modifications. The cabin design is clean, straightforward, and logically arranged. Gauges are clear and easily readable, minimizing distractions from the driving experience. From the driver’s seat, there’s a sense of being perfectly positioned between the front and rear axles. Despite the W124’s substantial size, it feels surprisingly maneuverable and easy to navigate in urban traffic. Excellent outward visibility is a key feature, thanks to a relatively low cowl and beltline compared to contemporary vehicles. The entire cabin embodies a balance of German order and a generous sense of space, from the well-organized center console to the comfortably spacious rear seats. It’s clear why E-Classes from this era became some of the most beloved taxis, fleet vehicles, and executive sedans ever produced.
Driving the E60 AMG: Confident Performance and Refined Power Delivery
Even three decades after the E60 AMG‘s debut, the driving experience remains remarkably modern and assured. Power delivery is strongest in the mid-range, but the 6.0-liter V-8 engine emits a satisfying growl across the rev range. Unlike today’s overtly aggressive AMG V-8s that prioritize sheer force, noise, and vibration, the E60 Mercedes AMG delivers a sense of speed and authority with greater subtlety. It is not in a rush, however—the four-speed automatic transmission exhibits a momentary pause before downshifting when the accelerator is abruptly pressed. Yet, when the power arrives, it’s always smooth and controlled, propelling the car forward without disrupting the chassis or passenger comfort.
This is a performance car that prioritizes capability over ostentation. If you recall David Robinson, the composed and dominant center for the San Antonio Spurs in the 90s, the E60 AMG‘s driving character is akin to his playing style—disciplined, determined, and unwavering due to its fundamentally strong engineering. This is particularly evident in high-speed cornering. While the E60’s body exhibits some lean when entering corners at speed, the tires confidently grip the road, maintaining composure. Road-holding is exceptional, even under hard acceleration out of corners, while the steering remains consistently light and precise. The well-proportioned steering wheel might feel slightly vague at very low speeds, particularly just off-center due to the hydraulic power steering, but otherwise, it offers a natural feel. Surprisingly, the automatic gear selector moves with an unexpected lightness as it glides through its range. Despite its intimidating aura, the E60 AMG is ultimately more approachable and driver-friendly than one might anticipate.
E60 AMG Market Value and Collectibility
Market trends indicate a growing interest in “pre-merger” AMGs, including models like the Hammer, 500 SEC, C 36, and SL convertible, with increased auction activity in recent years. Data analysis reveals a significant rise in auction sales volume over the past two years compared to the preceding four. “We observe the most substantial price variations within Mercedes-Benz/AMG models in the E-Class range, primarily due to the desirability of the Hammer coupes and sedans,” notes Hagerty’s Manager of Data Analytics, John Wiley. During the pandemic period, Hammer models achieved remarkable results, exceeding estimates and surpassing $750,000 at auction. (For example, at The Amelia in 2023, Broad Arrow Auctions sold a Hammer sedan for $775,000 and a coupe for $885,000.)
While E60 Mercedes AMG models haven’t yet reached these stratospheric figures, their rarity and relative scarcity at public auctions make comprehensive market data somewhat limited. Wiley suggests that E60s are currently valued at roughly three times the price of a comparable E500. The specific car featured in this review was offered at Broad Arrow’s Amelia 2024 auction with a pre-sale estimate of $250,000–$300,000, but it did not sell at that event. It retains the same estimate for Broad Arrow’s upcoming 2024 Monterey sale.
Further analysis of the pre-merger AMG market highlights the power of desirability in driving collector interest. “Given the increasing popularity of these collector AMGs, more are beginning to appear on the market, and the knowledge base among buyers is expanding,” observes managing editor Eddy Eckart.
Interestingly, buyer demographics for pre-merger AMGs skew surprisingly young. According to policy data, approximately 52 percent of early AMG cars (pre-C36) are owned by millennials. Another 34 percent are owned by Gen X, with baby boomers accounting for just 14 percent.
These youthful demographics indicate a promising future for these rare and exceptional German performance cars. However, pristine condition and comprehensive documentation will be crucial factors in attracting the most discerning buyers. Notably, many 500Es and E500s were not originally equipped with the 957 option package but were subsequently fitted with 6.0-liter AMG V-8 engines and related upgrades aftermarket, especially in markets like Japan. Some of this work was even reportedly carried out by AMG itself.
The partnership between AMG and Mercedes-Benz deepened with Mercedes-Benz acquiring a majority stake in 1999, culminating in full ownership in 2005. The Mercedes-Benz E60 AMG represents a pivotal moment in this evolving relationship, showcasing two distinct companies moving closer towards a shared vision. The E60 AMG is rare not only due to its limited production numbers but also because of the rich and nuanced driving experience resulting from this collaboration—a harmonious blend of raw power and refined luxury. The enduring respect for W124s, from base models to the E60 Mercedes AMG, among Mercedes-Benz enthusiasts underscores the lasting legacy of this generation E-Class. At the apex of this lineage, the E60 AMG delivers a unique combination of strength and sophistication that continues to captivate collectors and driving enthusiasts alike.
