2001 Nissan Skyline R34 GT-R V-Spec II

This car, Lot 3099, sold for $68,200, including buyer’s premium, at Auctions America’s Auburn Spring sale on May 31 in Auburn, IN.

While the presence of more contemporary automobiles at collector car auctions is a regular sight these days, the increasing appearance of Japanese cars of the modern era seems to be a much more recent trend.

We’re no longer just seeing Toyota 2000 GTs or FJ40s, but cars such as the NSX or Supra, as well as the Skyline GT-R, with greater regularity. And the results have shown that the auction companies are right in bringing them to market. There is an avid following for these cars, and their salability is seemingly quite high.

The Next Gens

I’ve written before that to my generation, a Japanese car is no more foreign than a BMW. And that is perhaps the most significant underlying distinction of the next generation of car collectors. There was once a time that a Porsche was some strange, rear-engined car from Austria, or Germany or somewhere. Today, it’s all relevant. People are looking for collectibility and value anywhere they can find it.

As some of you may well know, the Skyline GT-R is nothing new. And while its cult status has strengthened in more recent years, the GT-R moniker has remained synonymous with a limited-production, special-purpose sports car — and the model even has great racing pedigree.

In many ways, it’s the GT3 RS for Porsche, or a Black Edition AMG CLK for Mercedes. BMW, Lexus, Cadillac and countless other producers have their versions as well. We’re in an era of performance station wagons, and let’s be honest — we all kind of love it.

Technology rules

While some may argue all new cars look the same, we can agree that cars of the modern era are shattering performance statistics like never before. This is because of the incredible advances in technology.

Take this R34 GT-R for example: It has variable all-wheel drive that can apportion the nearly 300 hp between the front and rear wheels, but also between the rear wheels individually. Furthermore, the rear wheels are able to turn (up to 5 degrees) to enhance cornering and handling. This is very impressive for a car that’s over 15 years old.

It’s hard to find

While limited production and factory performance modifications can add to desirability, the car’s ineligibility for import into most markets — including the United States — makes it something even more desirable. Wanting something you can’t have isn’t a foreign feeling to a car enthusiast. For years I’ve wanted a contemporary Land Rover Defender 110, and I know I’m not alone in that sentiment. They made millions of them, and yet we’d still pay gross amounts of money to have one.

In doing my research for this piece, I found an overwhelming number of articles written on the topic of whether or not one can legally import the R34 — or other Skylines GT-Rs — into the United States.

Many of us know that, for the most part, a car over 25 years old can be legally imported. But what about something like a 2001 Skyline R34 GT-R? Now, I’m years of law schooling and experience away from giving any legally sound advice for a potential R34 buyer or seller, but what I’ve read is both confusing and scary.

I would imagine that Auctions America, the seller and the buyer were all aware of the car’s status here in the U.S., although the description offers no detail. (As a matter of note, the NHTSA only includes the 1999 Nissan GT-R R34 V-spec on its list of eligible Show and Display vehicles.)

Good value in an expensive world

Putting aside the gray area, scarcity only makes for increased desirability, and with an end result of $68,200, our subject car performed at the top end of the market. Given the scarcity of the car at public auction and the very few listed for sale online (some with promises of U.S. importability), the going rate seems to be in the $40,000 to $70,000 range.

Given that a “rebuilt” 1999 example brought $64,990 on eBay in 2012, I would consider our subject vehicle the better purchase.

Much like the Toyota Supra or Acura NSX, the Skyline seems to provide great value.

When looking at the early generations (now 25 years old and legal to import into the United States), they offer a lot of the characteristics we look for in any collector car — for a fraction of the price of their German or Italian counterparts.

For the next generation, budget is usually a defining factor. If you’re looking to buy your first home, start a family or pay off student loans, a collector car isn’t always attainable.

The point being, even entry-level collector cars are expensive these days! I’m not complaining about the market, by no means. I firmly believe most collector cars were seriously undervalued for years, but the effects of higher prices aren’t all positive. These days, $100,000 just isn’t what it used to be, and quality collector cars under that price point are few and far between.

But if there is one thing my generation is good at, it’s Googling, and Craigslist-ing, and BaT-ing our way into an affordable collector car. And regardless of the buyer’s age, given the limited production and the reported overall driving experience of the R34 GT-R, one could argue the new owner got a lot of car for the money. ♦

(Introductory description courtesy of Auctions America.)