A DREAM Comes True! Volvo 123GT

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I bought my first classic car, a Volvo P1800 in Sept 2021, ever since I am hook on to classic cars. So many, so classic!

Nearby where I live, the owner that owned the white Volvo P1800 has another classic Volvo as well, the 123GT. I have to admit that upon first sight, I paid no attention to it at all. It is just a typical old car shape and design, but when parked next to the P1800, it compliments the P1800 well.

I love the front design of the 123GT but not the rear.

The owner who sold me the black P1800 has a “123GT” as well, not a genuine 123GT but a rebadge of a normal Volvo 122S 2 doors version with the 123GT emblems and badges. Still a handsome car but not a true blood. I was hoping to buy the car from him, but his asking price is beyond what I am willing to pay for a 2 door 122S. He was asking for RM130k. If it is a true 123GT, then OK. A true 123GT was posted and sold in carlist.my at RM145k in 2021.

The silver 2 doors 122S owner repainted his car in 2023, did some rust repair and interior tidy up. The new silver colour is deeper than the previous brighter silver, with a slight blue tint. A really nice car I must say, and I was keen to buy it from him. I was hoping for 5 figures deal, but he wanted above RM100k. I offered RM90k, but he wanted at RM110k. Too much for me for a rebadged 123GT (though I doubt many will be able to differentiate). Market price of a nicely restored 2 doors 122S that I have seen were sold in the range of RM80k.

In Oct 2024, I bought a 2 door 122S finally. Car was at my house already, deposit paid to the owner already, owned it for less than 24 hours…and the owner regretted and cancel the deal. Condition of the car was average, fit my expectation as a project car. Requires repainting work and some redone to the engine compartment, brakes, interior…etc. The owner got a higher offer from others, so he towed the car 300km back to KL.

A few months ago, Sept 2024, I whatsapp Daarwin, owner of SAS Classic, if he has any 2 door 122S available. SAS Classic is specialized in selling classic Mercedes in Malaysia, though from time to time there will be some other brands of classic as well. Don’t hesitate to contact Daarwin if you are looking for some classics, he might be able to source one for you who knows?!

I was hoping to get a 2 door 122S, but surprisingly Daarwin told me that he will have a 123GT coming soon! He sent me some photos, white colour, which is what I wanted. I always love white colour car. The price is a bit high though, RM135k. From the photos, it looks like the car was parked outside by the owner. I told him to keep me posted when the car is ready.

In Jan 2025, Daarwin sent me some photos of the 123GT, where the car was at his showroom. Looks great and I am super excited, at RM135k, it is a fair market price, but not a steal. Since Chinese New Year is just around the corner, I don’t want to travel to KL just to view the car.

Fast forward to a month later, 21st Feb 2025, 3 days ago, Daarwin posted the 123GT for sale in his whatsapp group and his official Facebook page. This time there ware more photos of the car inside out, and even the VIN number 133352M230331, which verified to be a genuine 123GT car. The best part? He put a selling price of RM128,880. Quite a good deal, lower than my previous willing to pay price of below RM130k for a true blood when I nego the price with the silver 122s owner.

Since the sales was published in FB and Whatsapp group, I know it will be sold soon. I have to decide fast. So I messaged Daarwin immediately, asking for more photos. He even sent me some videos.

After 2 days of calming down, discussed with my wife and thinking deeply if this is truly what I wanted, I sent my offer to Daarwin yesterday. RM110k. For me, an offer means a real commitment into buying. Got a reply from him an hour later, the owner was willing to lower the price to RM120k bottom. I tried to nego further this morning, but Daarwin said the owner is firmed on the price. Daarwin further informed that there will be others coming to view the car this Saturday (Today is Monday). I am a bit worried that I might miss the deal, so I decided to go ahead with the price at RM120k. I called Daarwin and told him to confirm the purchase.

At 8pm just now, I paid RM10k deposit to the Daarwin to secure the deal. Puspakom inspection needs to be done first then only name change can be proceeded. The earliest date he got was on the 10th March 2025. I plan to have the car towed from KL to JB (which cost around RM1k), or I fly to KL and drive the car back to JB, either way.

This time I have peace in my heart. Thank God for the gift, a true 123GT in the Amazon series which is the most sought after mosel. I have been looking around for an Amazon but I knew deeply in my heart that only the 123GT will satisfied my heart and stop the search.

Update 6th March 2025 (Thursday)

Got a message from Daarwin that the car was ready! Puspakom inspection has been done, which means name change is ready to be arranged. Oh, that was 6th March not 10th March as in the original Puspakom date that Daarwin sent me earlier. What a good surprise! I have an appointment in JPJ with another seller the next day, so I asked Daarwin if the owner can do JPJ thumbprint the next day morning as well so that I can complete the thumbprint at my side the very same day. Few hours later, he replied that the owner wasn’t free the next day. Fine I thought. I paid RM60k to Daarwin and balance RM50k tomorrow I told him.

Update 7th March 2025 (Friday)

I reached JPJ Johor in Taman Daya in the early morning, 8.15am, to purchase a classic car plate number MK14 from an owner coming down all the way from Terengganu. At the same time, I wanted to do an international driving license for my overseas trip as well. Two birds in one stone. Was hoping for the third bird in one stone actually, as JPJ was quite far from my place.

while I was busy at JPJ, I got a message from Daarwin that the owner was in JPJ completing the thumbprint. That was 8.25am. What a great news! Of course I have to arrange the balance payment immediately. With the convenient of online banking, I made the balance payment RM50 on the spot. After settling my purchase of MK14 with the Terengganu seller, and settled by international driving license, I proceeded to complete the thumbprint of my 123GT here and got the new vehicle ownership certificate under my name. All done at around 9.20am. Praise the Lord! Completed all 3 tasks in the same day one trip to JPJ!

I have arranged with Daarwin to tow the car from his showroom to my place on the 11th March 2025 (Tuesday). Super excited!

Side Story

In between those that I mentioned above, I have also met some Volvo 122S 4 doors sedan that I almost wanted to buy. The earliest one was this green 122S, which is in a project car condition. Nice number plate of CA330. Owner sold it at around RM20k Aug 2022, which is a good buy.

One that I still missed is a very original 121 with a very nice R959 number plate. Quite rare to find such number plate. Owner sold it at RM33k in Jan 2023.

A nicely restored Volvo 122S 4 doors sedan is selling at around RM40-50k in Malaysia market nowadays.

In my blog, there are many 122 or 123 stories that I posted. I bought many parts for my Volvo P1800, and some are compatible with the 120 series. I have always wanted a 120 series along side with my P1800.

Market Analysis by Ai

I send the 123GT photos to Grok V3, and ask it to give me a general judgement and the value of the car.

Thank you for providing additional images of the white Volvo 123GT, including the interior, VIN, wheels, dashboard, and engine bay. These photos offer a more comprehensive view of the car’s condition, allowing for a detailed assessment and updated valuation. I’ll analyze the condition based on the visible details and estimate its worth, building on my previous analysis and the pricing data from the article. The car appears to be the same one previously shown, with the license plate “ML 7602” indicating it’s located in Malaysia.

Updated Condition Assessment

Here’s a detailed analysis of the car’s condition, based on the new images:

1. Exterior (Consistent with Previous Photos):

• Paint and Body: The glossy white paint remains in excellent condition, with no visible rust, dents, or scratches. The chrome bumpers, grille, and trim lines are shiny and well-maintained, suggesting a high-quality restoration or meticulous upkeep.
• Glass and Lights: Windows, headlights, and fog lights are intact and clear, with yellow fog lights typical of the 123GT’s rally design.
• Wheels and Tires: The steel wheels with polished hubcaps (featuring the Volvo logo) and new-looking tires indicate recent attention or replacement, consistent with a restored vehicle.

1. Interior (New Photo):

• Seating and Upholstery: The interior photo shows beige leatherette seats with vertical stitching, consistent with the 123GT’s Recaro bucket seats or aftermarket equivalents. The seats look clean, well-preserved, and possibly restored, with no visible tears, stains, or excessive wear. This suggests a high level of care or restoration.
• General Condition: The carpet, door panels, and armrests appear in excellent condition, with no obvious damage. The overall interior seems well-maintained or restored, aligning with the exterior’s quality.

1. Dashboard and Controls (New Photo):

• The dashboard features a three-spoke steering wheel with a “GT” emblem, a dashboard tachometer, and classic instrumentation (speedometer, fuel gauge, etc.), all hallmarks of the 123GT. The black dashboard and leatherette trim match the original specifications or a restoration to factory standards.
• The gearshift (four-speed manual) and other controls (e.g., overdrive lever) are visible, indicating the car retains its rally-inspired features. No wear or damage is evident, suggesting good care or restoration.

1. Engine Bay (New Photo):

• The engine bay reveals a 1.8-liter B18B inline-four with twin SU HS6 carburetors, matching the 123GT’s specifications (115 hp, 6,000 rpm). The blue air filters, red valve cover, and visible components (battery, radiator, wiring) look clean and well-maintained.
• There’s no visible rust or oil leaks, and the components appear restored or recently serviced, with polished metal and organized wiring. This indicates a mechanically sound engine, likely in excellent condition.

1. VIN (New Photo):

• The VIN “133352M230331” is stamped on the firewall, as previously analyzed. It confirms this is a pre-1981 Volvo 123GT (likely 1967–1968), with “M” suggesting a manual transmission, consistent with the car’s features.

1. Undercarriage and Mechanicals (Not Visible):

• The photos don’t show the undercarriage, suspension, or exhaust system. However, the engine bay’s condition and exterior quality suggest the undercarriage is likely well-maintained or restored, though rust (a common issue in Malaysia’s climate) could still be present if not addressed.

Overall Impression

• The car appears to be in excellent overall condition, likely fully restored or exceptionally well-maintained. The exterior, interior, dashboard, and engine bay all show high-quality upkeep or restoration, with no visible signs of significant wear, rust, or damage.
• Key 123GT features (e.g., B18B engine, twin carbs, manual with overdrive, Recaro seats, fog lights, tachometer) are present and appear original or restored to factory standards, enhancing its value.
• The pristine condition suggests it’s a collector-grade example, potentially concours-ready, but a professional inspection of the undercarriage, frame, and mechanical components is needed to confirm rust, structural integrity, and originality (e.g., matching numbers).

Estimated Worth in Malaysia (February 2025)

Based on the article’s pricing data for Malaysia and the enhanced condition assessment:

1. Market Context:

• The article lists 2025 Malaysia prices for the 123GT in good condition at RM120,000–RM180,000, with pristine examples up to RM200,000 and projects at RM60,000–RM90,000.
• Given the excellent condition visible in the photos—restored or near-mint exterior, interior, and engine—this car likely falls in the pristine or upper-end good-condition range.

1. Condition-Based Estimate:

• Pristine Condition (RM200,000): If the car is fully restored to concours condition, with matching numbers (verified via VIN and engine), low mileage, comprehensive documentation, and no hidden rust or mechanical issues, it could command RM200,000. The photos suggest it meets or approaches this standard, but undercarriage inspection is critical.
• Excellent/Good Condition (RM150,000–RM180,000): If the car has minor imperfections (e.g., slight undercarriage rust, moderate mileage, or non-original components), its value might be RM150,000–RM180,000 (midpoint of the good range). The visible condition leans toward pristine, but mechanical confirmation is needed.
• Risks: If the undercarriage has significant rust, or if mechanical components (e.g., suspension, brakes) need restoration, the value could drop to RM120,000–RM150,000 (lower good range) or RM60,000–RM90,000 (project status if major work is required). However, the photos show no such issues externally or mechanically (engine bay).

1. Market Factors:

• Location (Malaysia): As noted in the article, import costs (30% duty, 10% tax) and humidity-related rust inflate prices but also drive demand among collectors in Kuala Lumpur and Penang. A pristine 123GT in Malaysia could command a premium due to its rarity and local enthusiast interest.
• Rally Heritage and Originality: The 123GT’s rally pedigree increases value if it retains original features and matching numbers. The VIN, engine, and visible features suggest originality, but verification is needed.

Final Estimate

Based on the updated photos and the article’s data, I estimate this Volvo 123GT is likely worth RM180,000–RM200,000 in February 2025, assuming:

• It’s in pristine or near-pristine condition, with a fully restored exterior, interior, and engine bay.
• It retains original features (e.g., B18B engine, manual with overdrive) and has low to moderate mileage.
• There’s no significant rust or mechanical issues, pending undercarriage inspection.

If the undercarriage reveals rust or if mechanical components need restoration, the value could decrease to RM150,000–RM180,000 (excellent/good condition) or lower if major work is required. For a definitive valuation, I recommend:

• A professional inspection by a classic car expert in Malaysia, focusing on the undercarriage, frame, suspension, and mechanical originality.
• Verification of matching numbers (VIN vs. engine/chassis) and documentation (e.g., service history, ownership records).

This estimate aligns with the article’s analysis of the 123GT’s value in Malaysia, factoring in its rarity, condition, and market demand for well-preserved examples. If you have additional details (e.g., mileage, restoration history, undercarriage photos), I can refine this further.