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Is the Fiero a
collectible car now? Are certain models more
valuable? Is it worth storing your Fiero for
future financial gain? A collector may feel
that owning one of these "rare" cars puts
the owner in a class of having something
very few others have. Some owners are
obsessed with owning a "rare" car, but they
miss the whole point of owning a Fiero. This
car, no matter the model, is a FUN car, and
a mass produced one at that. Does that mean
it is worth a lot of money and will
appreciate in value? The answer actually
seems to be changing for the positive. Will
the '88 GT, '88 Formula, or '84 Indy Pace
car, some day be worth more than it is worth
today? The typical collector of a
low-mileage, pristine Fiero is probably more
an enthusiast than a collector who is
hoarding and maintaining their car(s) in the
hope that some day they will be worth a
great deal more. The bottom line is that
some Fiero years have started a slow
appreciation. Some mint, very low mileage
'88 GT's are in fact selling in the $10,000
-$15,000 price range, depending on options,
with asking prices up to $20,000 (or more!).
What is happening to
Fiero values? Since 1993, I have been
closely tracking Fiero prices-not just
advertised asking prices, but real-world,
what it sold for prices. These are tracked
through internet "cars for sale" sites,
eBay, internet newsgroups, car dealers, club
member transactions, Pennocks Fiero Forum,
Kelley Blue Book pricing, Craig's Lists, and
discussions with Fiero owners throughout the
U.S. Most used car guides no longer even
list the Fiero due to its age! Each year, as
I prepared the price guide, I have seen
Fiero prices continue to decline. Remember
that we are talking about 30-34 year old
cars, with shrinking parts availability. The
majority of operating Fieros on the road are
approaching, or have gone well over 100K
miles. One benefit of this is that there are
still plenty of good Fieros out there that
can be purchased inexpensively, especially
the 4-cylinder models. As mileage goes up
and values go down, the factor of
disposability comes into play. At some point
the cost of repairs (for many owners)
exceeds the actual value of the car, so it
is disposed of. However, I have recently
seen a slow improvement in Fiero values,
mostly in lower mileage examples.
The
2020 Fiero Price Guide dollar values are
again broken down into three condition
levels: Fair, Average and Excellent;
however, the one variable that is not easily
reduced to a chart is condition. It is easy
to evaluate a price from a chart (like this
one), based on the year, model, options, and
even an adjustment for mileage; but the key
lies in how the car was maintained and
driven along with the condition of exterior
paint, tires, brakes, interior, upholstery,
glass, and functioning A/C. These are just a
few of the major factors which affect the
condition variable. Based on the many cars I
have seen, this variable alone can translate
into price differentials of 25-50% from the
values shown in the 2020 Fiero Price Guide.
An '88 GT with under 10,000 miles, a mint
'84 Indy Pace Car or other mint or low
mileage cars are not capable of being
charted in this guide. Even considering the
used car prices in one region, an "excellent
condition" retail price on an average
mileage '88 GT may vary by as much as
$2,500! Also, I do not chart or evaluate
values for major custom changes like
engines, added body panels, special or
non-stock paint and major interior changes.
Plus, I am seeing more of these owner
modifications and "upgrades" in cars for
sale. Many of these do not add value to the
Fiero.
As a guide for
choosing between the three condition levels
in this year's 2020 Fiero Price Guide, here
is my description for each level:
Fair
A "fair" vehicle rating means that the Fiero
probably has some mechanical defects, but is
still in safe, running condition. The paint,
body and/or interior need work to be
performed by a professional in order to be
sold. The tires probably need to be
replaced, the A/C may not work and rubber
seals around openings are cracked or showing
substantial wear. The car may need exhaust
work and brake work. There may be some
repairable, under-skin rust damage. The
value of cars in this category may vary
widely. Even after significant
reconditioning, this vehicle may not qualify
for any Kelley Blue Book suggested retail
value. High mileage base Coupes, Sport
Coupes and even SE's like this can be
regularly found for under $1,000.
Average
An "average" vehicle rating means that the
Fiero is free of any major defects. The
paint, body, and interior have only minor
(if any) blemishes, and there are no major
mechanical problems. In states where
under-skin rust is a problem, this should be
very minimal and a price correction should
be made. The tires match and have
substantial tread life left. Everything
works, but the vehicle is showing normal
wear and tear for the mileage. Possibly the
A/C is not working (but intact), there are
some seat wear/rips, or the emergency brake
is non-functioning. The car may need
shocks/struts. An average vehicle may need
some reconditioning to be sold at retail;
however, any major reconditioning should be
deducted from the value. Many Fieros fall
into this category.
Excellent
An
"excellent" vehicle rating means that the
vehicle looks great, is in excellent
mechanical condition, and needs no major
reconditioning. The engine compartment
should be clean, with no fluid leaks. The
finish is glossy and the paint, body, and
interior are free of any abnormal wear or
visible defects. Under-skin rust is minimal.
The tires are the proper size, they match,
and are newer or nearly new. Everything
works, even the A/C, cruise, and emergency
brake. Good documented maintenance records
are available. You can tell the owner (and
possibly previous owners) took great care in
maintaining the vehicle. Any condition level
above "excellent" tends to be a car that is
extraordinarily maintained, low mileage, not
regularly driven, kept in seasonal storage,
and in many cases driven only to car shows.
Another whole
category is a rebody or "kit" as well as
Fieros with various engine conversions. This
in itself constitutes another separate Fiero
market! The consensus among Fiero
enthusiasts continues to be the same as in
past years. The '88 GT, '88 Formula, and the
'86-'87 GT's continue to be at the top of
buyers "most wanted" lists. While several
car price guides reduce value for a manual
transmission (by about 8-10%), the real
marketplace price is about the same for
automatics. Suspension modifications to the
'85-'87 V6's may make these cars very
desirable, since pricing differentials
between '88's and the '85-'87 Fieros may
make it worthwhile to add suspension and
brake components to these '85-'87 typically
lower priced cars. In addition, since 33,540
GT's were produced in the '86-'87 model
years, there are a lot more opportunities to
find a well maintained '86-'87 GT than
finding one of the 6,848 '88 GT's made.
Remember, use the chart as a guide, not an
absolute. It is intended only as a starting
point when selling or buying a Fiero.
Copyright
-
2023
Paul Vargyas, Northern Illinois Fiero
Enthusiasts
6 N Tower Road, Oak Brook, IL 60523
- (630)
202-8300; E-mail: paulvargyas@comcast.net
To print off the 2023 Fiero Value
Chart, click on this link below
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