Do These Pickup Trucks Prove GMT800 Chevy Silverados and GMCs are Increasing in Value?
General Motors built the “GMT800” generation of its Chevrolet and GMC pickup trucks from 1999 through the 2006 model year. These trucks are not yet as desirable as the earlier “square body” generations. But at 20+ years old, they are sitting at a depreciation low point. I have been wondering when GMT800 trucks would start increasing in value and move toward becoming collectors’ items. Then three trucks commanding top-dollar on Cars & Bids in early 2023 made me wonder if GMT800-era trucks are finally becoming collectible.
2000 Chevrolet C3500 LS – $18,750
In 2000, Chevrolet had yet to update its heavy-duty pickup styling. So this 2000 Chevrolet C3500 is one of the most vintage-looking trucks on this list. It has just 49,500 miles. It features the turbodiesel V8, a 5-speed manual, and a dual rear axle.
Some pros for this truck include a CB radio, an Accu-Pro brake controller, and an attractive body-colored truck cap. It also has a locking rear differential, halogen headlamps, 16-inch wheels, clearance lights, and a hitch receiver. The diesel pump, low-pressure fuel pump, timing cover gasket, and intake gasket were all replaced this year.
This truck sold in late February 2023 on Cars & Bids for $18,750. I know that’s a fair amount of money. But what the buyer got was a low-mileage GMT800 truck with beautiful vintage looks that is a high-value tow rig–even by modern standards.
2002 GMC Sierra 2500HD SLE – $15,959
This 2002 GMC Sierra heavy-duty has the 8.1-liter gasoline V8. This may be the main reason it’s not worth as much as the 2000 truck. It is also an automatic, RWD truck with 79,400 miles.
This truck was modified with a K&N air filter, a 180-degree thermostat, wider tires, and spray-in bed liner. This is not a true four-door but does have an extended cab.
Despite not being as desirable as the 2000 truck, the 2002 GMC was still worth more than $15k on Cars & Bids in November 2022. This sale definitely made me wonder if GMT800 values are coming up.
2003 Chevrolet Silverado 2500HD LT 4×4 – $22,750
The highest dollar GMT800 on this list is a 2003 heavy-duty Silverado. It has the 6.6-liter turbodiesel V8 and a 5-speed automatic. It is a relatively high-mileage truck, at 113,800. In addition, it’s been tuned with a Pacific Performance Engineering Xcelerator kit.
Some other modifications to this Silverado include an MBRP exhaust system, Flo n’ Go Duramax 14-gallon Gas Caddy. Draw-Tite brake controller, and LINE-X spary-in bedliner. Honestly, this is a great truck, but its modifications and mileage would make me skittish of how hard it’s been used. Yet this Silverado sold in early March 2023 on Cars & Bids for $22,750.
At the time of this writing, Car Gurus records no price change in GMT 800 resale values, except a slight increase (since February) in the value of the 1999 model year Silverado.
Obviously, Cars & Bids tends to attract slightly more desirable, and even collectible, vehicles than other auction sites. For this reason, it can be a helpful barometer. So do several heavy-duty Chevrolet and GMC trucks going for a bit above market signal a shift? Does this mean they are becoming sought-after? We’ll have to wait and see.
But there is one thing we know for sure: GMT800 trucks may be considered low-dollar work trucks by many General Motors fans, but time marches on. As the years pass by, so does the cutoff for what’s commonly considered a classic truck. Someday soon, GMT800 GMC and Chevy pickups will be considered collectible and high-value.
Next, read about common check engine light causes in an old Silverado or watch a review of a GMT800 Silverado in the video below:
