The best way to get an accurate valuation on a car of this age is to look for similar examples already for sale. As with any classic, the right car to the right buyer is worth considerably more. Prices of good rust-free W124s have risen considerably over the past few years and as yours is a 280TE Estate, it's quite sought after, despite the high mileage.

We found a 1993 280TE W124 with slightly lower miles than your example for sale at £3300. Depending on the condition and service history of your car, we would expect it to be worth a similar amount. However, we think keeping hold of it and maintaining it to a high standard would be a good long term investment. Good estate W124s are only going to go up in value.