Rarity of the GT-R Series and future changes in its value.
Is now a good time to buy a GT-R?
The GT-R is a sports car that Nissan can be proud of. Furthermore, it is a model that symbolizes Nissan's identity. Among these models, the R32, R33, and R34 have become models whose used car market prices in Japan have been rising steadily in recent years.
Owning a JDM brings great joy, but at the same time there are costs to purchase and challenges to maintain.
To support those who are interested in purchasing and owning a GT-R in the U.S., we will discuss the rarity of each GT-R (R32, R33, R34) model and the used car market trends in Japan.
R32 GT-R Rarity and Future Value Changes.
First, we investigated the R32 GT-Rmodel, including its rarity, used car market trends, and expected future price development.
R32 GT-R production volume
MY1989:4,555 cars
MY1990:8,426 cars
MY1991:7,081 cars
MY1992:7,961 cars
MY1993:6,204 cars
MY1994:7,654 cars
The R32 GT-R was sold from 1989 to 1994. As far as the author has been able to determine, the number of used cars currently available for sale at used car dealers and other dealers is around 110 units.
The lowest priced R32 with unknown mileage and an accident history was priced at about $27,605 (at that time). At this point, the price is almost equal to the price of a new car at that time.
The highest priced model was just over $144,926. It seems to be the last model and a special model limited to 64 units. Since the price of a new car at that time was a little over $34,510, the price was almost four times as much.
Observing used car sales sites for a long time, I have the impression that if you can find a good quality R32 for around $48,315 in Japan, it is a good buy. If you can buy a good quality vehicle for around $41,413, you can say that you have made a very good purchase.
The number of vehicles decreases with each passing year. Among GT-Rs, it is expected to become more rare due to its age.
What are the market fluctuations for the R32 GT-R over the past 10 years?
The above table shows the domestic auction market price chart(Japanese Yen) for the R32 GT-R over a 10-year period; in the case of the R32, it is 2019 and all R32s are subject to the 25-year rule as we say in the U.S.
What is characteristic is that the used car market price went up at once from 2020, the year after that.
Some people are of the opinion that this was due to the fact that we were in the midst of the Corona disaster, and many people were unable to go out and get a popular model that was familiar to them.
The appearance of the GT-R BNR32 in the 2015 broadcast of Wild Speed/Sky Mission may also have had a significant impact.
How will the future car value of the R32 GT-R change?
We feel that the market for R32 GT-R is currently down a bit. This may be the result of the market moving in the direction of the US 25-year rule, which has now been lifted for some R33 and R34 models.
It could be said that the R32 is an age that is becoming very difficult to maintain, and since the R33 and R34 are now being exported to the U.S., the U.S. demand for the GT-R R32 may be decreasing slightly.
In particular, when many GT-R R33s and R34s are sold due to the 25-year rule in the U.S. and the market settles down, we expect the market price of high-quality GT-R R32s to revive and rise again.
In Japan, theft of R32 GT-R is very common. In particular, the oldest R32 is easy to steal, and even now, thefts continue unabated.
R33 GT-R Rarity and Future Value Changes.
Next, we will explain the rarity of the R33 GT-R and future changes in its value.
R33 GT-R production volume
MY1995:8,446 cars
MY1996:4,093 cars
MY1997:2,708 cars
MY1998:1,175 cars
The R33 GT-R was manufactured and sold during the period 1995-1998. According to the author's research, the situation is that the number of used cars is much smaller than the R32, at around 60 units.
This is likely due to the fact that the R32 GT-R sold about 44,000 new cars, while the R33 GT-R sold about 16,000 new cars.
Despite high expectations following the success of the R32 model, the R33 GT-R was not well received from the time of its launch. The major reasons for this were its body size, which was enlarged to the number 3 size, and its interior.
At that time in Japan, there was a system in which the cost of a car depended on its size, and large cars were shunned. Many people also believed that large cars had a negative impact on driving.
The number of R33s remaining in Japan is very small. From this point of view, both 2-door and 4-door models of the R33 GT-R are very rare.
What are the market fluctuations for the R33 GT-R over the past 10 years?
The above table shows the domestic auction market price trend chart for R33 GT-R over a 10-year period; the R33 first cleared the US 25-year rule in 2020.(Japanese Yen)
As shown in the table, it is understood that the market price has been rapidly increasing since 2020. And even in 2022, when the U.S. 25-year rule was lifted for all years, the market price does not decline, and even in 2023, the market price is still rising.
This is a situation where the ban on the R34 GT-R model will be lifted from the beginning of 2024, and there are still a great many models that do not meet the US 25-year rule. It is expected that many people are purchasing from the R33, which is easier to obtain, first.
What are the future value changes for the R33 GT-R?
Currently, the R33 GT-R is still expected to continue to rise in price. However, it is difficult to say whether the ban on the US 25-year rule for the R34 GT-R, which began in 2024, will cause the price to drop a little after 2024, or whether the market price will rise together.
As the author imagines, since the U.S. 25-year rule has not yet been lifted for all years for the R34 GT-R, I have a feeling that the price of the R33 GT-R will also go up a little until then.
The R33 GT-R is in a situation where only about 16,000 new cars were sold to begin with. Furthermore, compared to the R32 GT-R, the percentage of V-spec cars is higher. I feel that models in good condition will still be more expensive.
This is my research, but excluding models close to $690,335, which I think may be out of the used car market, the most expensive R33 GT-R was about $117,366. The cheapest model is about $31,065.
In Japan, if you can purchase a good quality vehicle for about $69,033, it is a better result. However, note that it is difficult to judge whether the balance between quality and vehicle price is good or bad because of the soaring market price.
R34 GT-R Rarity and Future Value Changes.
Finally, the rarity and value changes of the R34 GT-R are explained.
R34 GT-R production volume
MY1999:5,536 cars
MY2000:1,859 cars
MY2001:2,197 cars
MY2002:1,775 cars
MY2003:2 cars
The order of production and sales of GT-Rs is R32>R33>R34. This means that the rarest one is likely to be the newer model year R34 GT-R. According to the author's research, there are less than 40 R34 GT-Rs in Japan.
The R34 GT-R has been on sale since 1999, and the U.S. 25-year rule will be lifted starting in 2024. And eventually, the entire generation will be covered in 2026.
Until then, imports will be allowed from models that meet the U.S. 25-year rule, which may lead to price hikes.
What are the market fluctuations for the R34 GT-R over the past 10 years?
The auction used car market price for the R34 GT-R has gone up so quickly that it cannot be compared to the two GT-Rs just described. Not only that, but the vehicle price has also become considerably more expensive.(Japanese Yen)
In 2023, the price has exceeded $207,117. After all, the biggest reason for its popularity may be the Wild Speed/Jet Break that aired in 2021. Also, the very low number of new cars sold may be a tailwind for used car prices.
It can be said that a new R34 GT-R, which costs about $34,519 to $41,423, is 5 to 6 times more expensive than a new car in Japan.
What are the future value changes for the R34 GT-R?
The R34 GT-R has not yet been subject to the US 25-year rule ban for all years. And as far as I can tell, there are quite a few models that were sold and registered in 2002, although they were not officially sold until May 2001.
As I mentioned earlier, it is likely that some models will not be subject to the U.S. 25-year rule ban until 2027. And the R34 GT-R, which had the lowest sales volume, will become more rare the more quality models are sold in the US.
At least until the ban is lifted for all years, we expect used car prices in Japan to become more expensive.
According to the author's research, there are already used cars priced at $517,777 in Japan. And the lowest price is $117,320 (170,000 km traveled) for the vehicle. This means that if you try to buy it in Japan, you are already looking at about $172,547.
The sales volume of the R34 GT-R is decreasing as the sales year progresses. Furthermore, by around 2026, there will be considerably fewer R34 GT-Rs in the Japanese market. We expect that the price will continue to increase for a while.
Unlike the R32 GT-R and R33 GT-R, the R34 GT-R is priced at an order of magnitude higher, and users will be quite shocked if it is stolen in Japan.
To prevent this kind of theft, more and more people in Japan are installing security systems. This would make it easier for people in the U.S. to introduce it.
In closing-Is the GT-R a good buy?-
The GT-Rs of the past generations have been very popular in the U.S., and the R34 GT-R is one of the rarest and most expensive models in the world. Among them, the R34 GT-R is incomparably rarer and more expensive than other models. It may become even more expensive.
Those who want to buy or own a GT-R in the U.S. may purchase a GT-R that is even more expensive than the Japanese price introduced here, due to increased intermediate costs.
If you are going to purchase a rare GT-R, you will not make a mistake if you find a model that satisfies you as much as you want to buy.