R35s have been dropping for a few years now.
There are a few things to remember -
- The R34 was the rarest of the modern GT-Rs, there were significantly less of them made than the R32 and R33.
- The R34 had a few different model varients (like the V-Spec II NUR, N1 and M-Spec) which had reasonable changes over a normal R34 making them more desirable over a normal model than say an R33 GT-R LM is over a normal R33 GT-R.
- Americans are starting to purchase GT-Rs years before they are eligible to import into the USA and storing them meaning demand is greater and whilst supply remains the same, if not smaller. (There are certainly less stock ones going through auction in Japan each passing year).
- As of next year the R35 will be 10 years old and still in production (which I quite frankly think is lazy on Nissan's behalf, we deserve an R36 already)! Nissan hasn't had a production run on a GT-R even close to 10 years, ever. Couple that with the fact that the R35 was an international release (available in places brand new like the USA and Australia) where as the R34 was Japan only. There are a bucket load more 35s than 34s out there which means they are easier than ever to get your hands on one forcing market pricing down rather than up like the R34.