I spent a while looking for comparables, and it looks like $2-300 is about right for this model (without the Mercedes logo). For watch collectors, the Mercedes logo probably at minimum puts this at the bottom of that range, at worst, removes a bunch of the value. SO as a 'watch guy', that $220 is perhaps an overpay.
So any value that this is going to have is as Mercedes memorabilia. I see VERY basic references to one of these being on C64 at one point last-listed at $537, but with no evidence that it actually sold. SO I think if you were looking to maximize value here, you'd have to go to a Mercedes collector forum instead of here.