NC01TA

In case anyone missed the recent Las Vegas Barrett Jackson auction this past weekend, a 5,000 miles 2002 CETA brought $29,000 plus the buyer's premium, making it a purchase price exceeding $30,000.
They are holding value very well. In 15 years at the 'magic' 25 year mark I could see this same 5,000 miles CETA bringing $40,000.

99'CajunFirehawk157

iTrader: (57)

Hum, I hope your correct but I think that might have just been a fluke...? I only have 12 years for mine (non ceta) to hit my 25 yrs...

Sebring 00

What did the 02 CETA originally sell for?

1965GP

iTrader: (2)

I saw that car while I was there- really clean. There was also a very low mile 02 35th anniv SS that went for good money.

JohnnyBs98WS6Rag

iTrader: (1)

It was high $30Ks, I'm thinking $38K-ish (MSRP). I'm sure a few dealers got over $40K from some desperate buyers.

mac62989

iTrader: (1)

A modded firehawk with many more miles cant even be compared unfortunately.

Sebring 00

So the subject CETA sold for $29K, yet it sold new for nearly $40K.

How is that 'Holding It's Value'? Am I missing something here?

mac62989

iTrader: (1)

Whats hard to understand? Its 10 years old and sold for less than $10k off its sticker price. Still way to new to command an amount over what it originally sold for..

Sebring 00

Exactly................................

It sold for less then $10K off its sticker price. Simple Math equates that the car lost 10 Thousand Bucks!.

Please explain how losing $10K is holding it's value per the original question.

mac62989

iTrader: (1)

Still not sure whats hard to understand. How many other 4th Gens are selling close to $30,000? Last time I checked not many at all sell for even close to that other than Blackbirds, Dick Harrel cars, and some Berger cars. Say it sold new for $37,000 and sold today for $30,000 with 5,000 miles on it and it being 10 years old thats holding its value pretty damn well. Not sure what your definition is for a car holding its value.

NC01TA

mac62989, you are absolutely correct. I think we have some rather 'negative' folks posting here for whatever reason.

mac62989

iTrader: (1)

Ya the concept seems easy enough to understand. I will look for repeats of the auction though, interested in seeing it as I usually watch them. Thanks for the insight!

eseibel67

iTrader: (10)

I see the value of these going down, not up. The reason is that the supply side is overflowing with low/no mileage CETA's that people bought new an socked away as an "investment". As time goes on, more owners will be unloading to recover cash so there will be a steady stream of CETA's entering the market.

http://www.cars.com/for-sale/searchr...ce&sf2Dir=DESC

RPM WS6

iTrader: (3)

Poor choice of investment on their part.

I do agree that they have held their value better than many or even most 12 year old cars, but as an investment they have not performed well at all...to date. That same ~$38k would have performed much better in a basic bank CD over the last 12 years.

I think it's unlikely that we'll see a time where there is an acutal net profit to be made by having stored one of these away that was bought new at MSRP (taking inflation into account), and it's even less likely that any net profit would ever exceed more traditional forms of investment over that same period. If people are looking for the next Hemi 'Cuda convertible, this car is not going to be it. If they had come with LS6s or something such as this, there would be a stronger case. Underneath the color and graphics (which are not loved by all, BTW), it's just another LS1 drivetrain....of which 10s of thousands were built.

gm02ceta

iTrader: (9)

Yep CETA's will probably never garner huge Super Duty or Ram Air IV types cars money. But I believe all the CETA's that are still in great condition after the 20 yr. classic threshold will hold better than any other 02 WS6 of that year! I didn't buy mine as an investment btw!

wu6fiend

Theres a couple around here that have been for sale for a long time, with no takers. One CETA started out at the Hyundai dealer, with an asking price of $29K, over a year later, the price is now hovering close to $20K, still no buyer. The car is mint.

Another one is privately owned, and I pass it from time to time, sitting in the owners driveway. Also in very nice shape, but no buyer (I think he's asking mid $20K for it.)

These cars were complete dogs sales wise, dealerships had a heck of a time unloading them. The one at BJ, IMO, was a fluke. Typical BJ "more money than common sense" buyer.

There just aren't enough people out there that want a butter yellow car with black wheels, covered in silly decals. That's the bottom line.

Just like the 10th Anniversary Firehawk, they were not well received by the market, and will never be super valuable in the future.

(And before you argue about the 10th Anniversary Firehawk, one sat in the showroom for over a year at the Pontiac dealership near me. In the end, they took the cheesy stripes off it, and finally got rid of it.)

A black 2002 WS6 is probably the best last year car, if you want an "investment".

The 30th anniversary cars are a really solid bet for a sought after model in the future.

NC01TA

Mileage on these cars please??? It matters a great deal before you throw out examples to compare with. The Canadian market may also differ from the US market. Have you seen the ultra low mileage CETA's on www.autotrader.com lately?? Now tell me again about the car being a fluke. I disagree and so didn't the announcers who give pretty decent analysis. Mike Joy isn't going to BS anyone, not from what I have seen over the years watching him here and the Nascar races. While these CETA sellers are indeed asking a lot, they aren't going to negotiate down too much. The $26,500 one sounds pretty darn good IMO. Check these out:
http://www.autotrader.com/cars-for-s...29364091&Log=0
http://www.autotrader.com/cars-for-s...19013199&Log=0
http://www.autotrader.com/cars-for-s...24535062&Log=0

wu6fiend

The CETA at the dealership is a coupe, automatic, and completely mint. It has 31000km (19,200) miles on it. They are asking $20,888 for it (it is the same car that was at the Hyundai dealer, now its been traded to another dealer nearby). Its been for sale since 2011.

The other car is nearby, I don't know the mileage, and can't find the ad online. The owner may have sold it, or given up. I saw it about two weeks ago in his driveway, with the for sale sign on it.

Two other local examples (non CETA) for comparison.

2002 WS6 convertible, blue/tan, automatic. 73000km (45000 miles), very clean. $22,900.

2002 WS6 coupe (blue/graphite), automatic 114000km (73000 miles), aftermarket wheels $14,500.

I know the CETA fans will get upset, but the reality is, the CETA cars weren't well received by the market, and did not sell easily. They are a niche vehicle, and will always struggle to find their buyers. A much better "investment" would be a black WS6, which was the most popular color of the 2002 model year.

And by "investment" I mean less of a dead loss, any vehicle is a poor place to put your money, if you want to grow it.

(Anybody who cites BJ as his/her source of accurate vehicle values needs their head examined.)

RPM WS6

iTrader: (3)

I think that with the right buyer, the CETA will have more potential value than a base WS6. However, the key is finding that "right" buyer.

I agree that the CE package is somewhat polarizing as compared to the more universally liked base WS6 version; additionally, sellers generally demand more money for the CETA, so the buyer has to really want one to justify the higher price. Both of these factors make it harder to move a CETA.



I can't stress this enough. There are VERY few exceptions to this rule, and a CETA (or any LS1 4th gen for that matter) is not going to be an exception at any point in the foreseeable future.

In 2002, it was entirely possibile to invest in basic bank CDs with interest rates of 5-7% for terms up to 120 months. If people who bought CETAs as "investments" had put their ~$38k (possibily much more if you consider any loan costs) into such a CD, they would have over $60k to show for it today.

Interest rates are MUCH lower today, but there are still other ways to make better returns on your cash.

jim simon

Here is a GMMG CETA convertible with 680HP and 966 miles. Asking 175,000.
http://www.autabuy.com/
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Year One Blackbird #4 380HP
35th Anniversary Edition #9 380HP