I have never bought a limited edition cel personally, so I haven't really watch their values at all. I will say that animation art, in general, isn't a particularly great investment -- there are certainly much better places to put your money. What I can say, though is that at the moment there is a pretty high demand for limited edition animation art (I think a lot of it has been driven by Disney releasing lithgraphs with their movies for the past few years). In the general case, I agree with you -- I view this as more of a fad. And like I said in my original response -- given the cost of some of these limited editions (there are some I've seen that sell for several thousand dollars), it seems sort of silly to buy a "fake" when you can buy a real cel for less money. But then when it comes down to it, it's all about the artwork -- If you think the limited edition cel or the lithographs are better images, then knock yourself out. The other thing I tend to dislike about limited editions is that they are always like the family portrait version of the characters -- it's completely artificial in layout. I feel like there's a lot more "life" in the production drawings/cels that catch the character in a motion and not looking into the camera and posing intentionally.

ms