The last Pontiac Fiero ever produced sold for a significant $90,000 at a recent classic car auction in Greensboro, North Carolina.
We first reported on this car in October, before it went up for sale at the GAA Classic Car Auctions event this past weekend. We were confident it would attract a good deal of attention at the auction, seeing as it was in like-new condition and was the last Fiero ever produced after General Motors discontinued the mid-engine sports car in 1988, but we certainly didn’t expect someone to pay nearly $100,000 for it.
Before the Pontiac Fiero ended production at the GM Pontiac Assembly plant in Michigan, GM held a raffle for employees giving them the opportunity to win a Fiero for themselves. This was actually the prize car in that draw, which was won by an enthusiastic employee who wanted to preserve it. As such, it has just 582 miles on the odometer (all delivery miles) and even still has the protective delivery plastic on the steering wheel, seats and other parts of the interior. This is also a well-equipped Fiero, featuring the optional 2.8L V6 engine and four-speed automatic transaxle, which further adds to its value and collectibility.
The buyer of this car also received extensive documentation for it and photos of it on the assembly line at Pontiac Assembly before it was auctioned off.
We’re willing to bet this car was purchased by a collector who plans to preserve it, as there’s really no point in paying so much money for a mint, low-mileage vehicle like this if one isn’t going to keep it in that condition. After all, there are tons of Fieros out there in decent condition for about $10,000 or less that would still be great to drive, so the only reason to pay so much for an example like this is for collecting or investment purposes.
Comments
And now here is the rest of the story.
Yes the car was purchased by a well know Fiero collector and historian. This car will be added to his collection of a number of Fieros including some of the GM show and prototype cars.
He also owns the one of the three Fiero Indy pace cars that served at the speedway. It was thought lost till it was discover as the rebodied PPG CART Pace car used in the 80’s. That car sold for over $65k a few years ago.
It is not a surprise he bid this high but I would like to know who the other bidder was.
A car like this with the same miles not the last one would go for around $20k. With some more wins up to 20k miles they sell for around $14k fully loaded 88 GT t top.
Since the Pontiac Fiero has plastic body pieces on a well designed frame, they will last almost forever. The engine will need maintenance and the tires rotated , but they will outlast all the other car of the same years. There is a local Fiero club nearby and all their cars look as good as new.
Raymond the truth is they may look good but many rust belt Fieros are totally rotted away under the skin.
Many the tail section is only held up by the fiberglass rear section.
The looks may out last others but the cancer of rust lain Fieros just as much. Many have bought cars thinking they were up in great condition till they pull up the truck carpet and there is no metal left.
My husband had 3 Fieros in the early 90s. He loved those cars!
He was a real fan most owners have several.
The Fiero died because—among other issues—of serious front suspension problems. The ’84-’87 models didn’t corner well, and had limited adjustment for front end alignment, causing tires to wear prematurely. Those issues, along with an increase in horsepower, were corrected for the 1988 model, but by then, it was too late to overcome the bad reputation that the car had developed. It went out of production after the ’88 model run.
Loved mine and would have bought another if GM gave a sh!t about it. Here’s a thought-what if it went back int production with a battery pack where the gas tank was located? Motors at all four corners – bingo! GM has an all electric sports car.
Problem is there is not enough space for a decent range battery yet. Maybe some time in the future. Even the Tesla roadster was limited in range. The other factor is still cost it would be as much or more than a Vette.
Pontiac is dead so just enjoy the cars we were left with.
Tom while all these were issues they did not kill the car,
What killed the car was the Corvette people. This was not my opinion but the truth from those who headed the Fiero program.
GM never wanted the car but Pontiac hid the program. They did get the car approved as a commuter car. Well we know that was a lie.
With a limited budget they did get the car built but totally as they intended, this is why the suspension while not bad was not as good as it should have been till 88. The cars cornered well but the bump steer was bad and the under steer needed to be reduced.
Tires wear fine. HP was increased in 85 not 88.
This is how the car died. Pontiac put the car in a plant with 250,000 production capacity. So they over built the car in the first couple years. The sold over 100,000 in the first year alone. The problem is the 2 seat car market is limited at best.
Pontiac had intended to put the GM 80 program in the plant. This was a fwd F body replacement. Ford was going FWD in the Mustang but changed it to the Probe and kept the Fox platform.
This rather left the plant making 40 to 50k cars well under capacity.
They called a meeting and Chevy pointed out the canceled program. They said the plant is under capacity and money was tight. The new head of Pontiac had no love for the car and did noting to fight the killing of the car. As John Schinella told me Chevy makes more cars and gets more say.
The trouble at Chevy was the C4 sales were tanking and it was not clear they would get approval of a C5. Pontiac has a 230 HP DOHC V6 coming and they were worried. Pontiac even built one V8 for testing.
The C5 did get killed but the manager ignore the cancellation and saved the Vette. But that is another story.
Those at Pontiac did not think the Fiero would live long from the start but they expected 10 years. Most 2 seat cars outside the Corvette and Miata live long.
The bottom line is the Fiero died due to internal GM division fighting. This is a major reason the went bankrupt as GM really worked horribly as a corporation. Their divisions did more damage to each other than Toyota.
Tom I have been involved with this car since 1980 and been an original owner for going on 26 years now. I know the story from those who were there and try to share it as so many false stories are floating out there.
One false story is the 88 has a Lotus suspension. It was not Lotus but GM that designed it. The thing that most did not know is Porsche Engineering did the tuning on it for turn in and on center feel. This was per Tom Goad the Pontiac Engineer. They had two turbo cars that had tail lamps that said Porsche eater when you stepped on the brakes. This had to go when Porsche was there helping on the new suspension.
Another GM swing and a miss in the market place and poor build quality. Canary in the coal mine for Pontiac.
will not get your 90k back until 2060
It should not have gone this high this time.
With auctions it just takes two serious bidders to drive a price up.
To many dollars chasing to few goods: definition of Inflation.
Definition of an auction with two motivated bidders.
One of the greatest affordable cars ever build,I have yellow 88, some of the last ones. Really great car and extremely fun to drive. Always turn heads and every children shows to their parents this.
My first was an “85 SE with iron duke, er, tech four engine and 5-speed.
Second was an ’88 GT with 10K. Drove it to 30K and still have it.
Third was an ’88 Formula T-top. Fairly used it up. It needs total resto!
I was lucky enough to win the bid on the car. The car will be preserved in the like new condition that it is in. The car will be part of a large collection of low mileage and factory experimental Fieros. This car has been an interest of us Fiero enthusiast for decades and carries a well documented history. Plus the car marks the end of an era at Pontiac being that it is the last Pontiac automobile built in Pontiac Michigan. The hammer price is reflective of the spike in Fiero prices for well kept low mileage Fieros. Granted, there are examples available for much less money, the supply of factory original unmolested cars are dwindling.
Fred, if I ever win the lotto I intend to buy up all the remaining Fieros and drive them daily. Then I will open a factory to build new ones!
Well your plan seems better thought out to actually purchase them and start your own museum.