nsw/act R34 GTR Pricing query

[Liquid Swords]

Hi,

This thread will possibly get deleted, but genuinely wanted seasoned veteran feedback on an R34 GTR price.

Saw the below listed recently on CS for a mouth watering sum. With the amount of work done to it, is this considered a fair price? Or is it still heavily influenced by what's going on in Japan and the upcoming US market, on top of the modifications?

At these rates, this is a nice goodbye to the average Joe's dreams. Even if it were listed at half the price, that is still a lot of hard earned cash. Every month, the dream goes further towards the moon.

Have to become a successful business owner to even come close 😁

 

PS. If the owner is here, no offense! You do what you gotta do!

[soviet_merlin]

Don't know about this one. Though I spent a lot of time looking at cars that I couldn't buy. This worked for me:

 

1) Make account on carsales

2) Search for the car you are after, eg. R34 GTRs

3) Save the search and tick the box for notifications

4) Receive email / notification every time a car is listed

5) Save the car by clicking the heart button

6) Go through your saved cars periodically and see which ones stay listed for ages, which ones go down in price and which ones are gone in no time

 

I haven't looked at GTRs, but I noticed a good bargain won't last a week, sometimes not even a weekend. You won't see those if you only search occasionally. The ones that ask for too much don't sell and stick around forever.

[UWISSH!]

The price of gtrs has just gone completely stupid. Are they worth it? Hell no.

Bout 7-8 years ago R34s went down to $38k, r32s on this site could be had for $9k-$12k and people were shit talking them by saying they wouldn’t tough one at those prices coz of the work needed 

I had a r33 gtr. it was good value for money at the time 

if I had $200- $400k to spend on a car, I sure as shit would not be buying a gtr 

[joshuaho96]

On 12/6/2021 at 1:08 AM, UWISSH! said:

The price of gtrs has just gone completely stupid. Are they worth it? Hell no.

Bout 7-8 years ago R34s went down to $38k, r32s on this site could be had for $9k-$12k and people were shit talking them by saying they wouldn’t tough one at those prices coz of the work needed 

I had a r33 gtr. it was good value for money at the time 

if I had $200- $400k to spend on a car, I sure as shit would not be buying a gtr 

The price of the R34 and many other generally desirable cars has gone through the roof because of economic policies from the pandemic. I remember when I was looking for a car R34 GT-Rs were still 70-80k USD. A ton of money for what it was, but hey maybe not a big deal if you had to have an R34 for whatever reason. The jump to 250k+ USD has been very recent and I believe it is driven by the PPP (Paycheck Protection Program) loans that the government handed out with very little vetting. Business owners fired workers en masse and then applied for these loans as if they hadn't. Then they took the money and bought cars like the R34s. All that money chasing very few R34s means a huge demand shock.

[GTSBoy]

Pandemic policies haven't helped, but this has been coming for some time.

It's a spiral of stupid. When you look around at a large group of people, just remember, exactly half of them have lower than average intelligence.

[djvoodoo]

Same can be said for housing. a 1960's 3 bedroom Fibro house full of asbestos was cheap as chips 20 years ago. Try find one under 1 million dollars in Sydney today. Almost impossible.

It's just supply, demand, inflation and desirability.

Does it make sense. Nope, but it is what it is.

[junkie]

These cars have become collector/investor pieces now, average Joe who just wants one to drive and enjoy need not apply. They silly prices will be paid as long as the car can be re-sold for more later down the track

[GTSBoy]

On 12/7/2021 at 7:23 AM, djvoodoo said:

Same can be said for housing. a 1960's 3 bedroom Fibro house full of asbestos was cheap as chips 20 years ago. Try find one under 1 million dollars in Sydney today. Almost impossible.

With houses, in places like Sydney, it's actually more about the land under the house than the house. Unless you're talking mansion spec buildings, the land is by far the biggest chunk of the asking price. I don't use the word "value", because I don't place any value on a block of land in Sydney. But many people do.

The root cause of all of this trouble is that there literally is too much money around. People have gotten too comfortable. The GenY tendency to live for the moment because of all the "boomers stole my future" wah wah doesn't help either. Between them and the Boomers spending all the stolen GenY future, people are living like there's no tomorrow. Which, actually, might be the truth.

[r32-25t]

The same as the xy gt and etc when they boomed in the late 90s, it’s because people sold them to buy houses and etc and now those people are in a position to buy them again and are willing to pay a premium to do so 

[No Crust Racing]

I can wade in to this and I'm 50/50 on it, as a person who bought a cheaper 34R then sold it for a small profit a few years later (which was 3yrs ago now). 

Dot points for quickness, all of this is just my opinion so take it with a grain of salt. 

• They are not worth current asking prices vs what you can get for the same money if what you care about is having the "best" car for the money,
• I don't begrudge anyone making good money on what I'd consider lesser examples/cars I wouldn't personally touch etc - why would I, it has no impact on me but I see some people getting really worked up about this part. 
• They have a ton of nostalgia tax on them and they are worth whatever someone will pay for them. \
• They have the attention of some demographics that place different values on aspects of car ownership than what might have been the previous general demographic of owners. By this I mean looking "cool" is worth a lot to some people.
• I can't tell if it will keep climbing (US market demand, less examples available, what is around is being modified to a higher standard now etc) or the hype will die and prices will return to some level of normality. 
• Driving one back to back with something, even of lesser value, quickly shows you where the value proposition really is (R35/M4/C63s/911/A90 Supra) the list goes on. 
   

This was bought about about 6yrs ago and sold 2yrs later or there abouts after I realised I wasn't enjoying the stress of trying to keep the car mint/worrying about resale values etc/and not being blown away by what I was getting for the time/money/effort I had put in to date, this was a mild street tune setup with 380rwkw, still twins etc. 

It was an ugly duckling with questionable aesthetics, he had the bonnet/bumper/boot all painted professionally to look that way 0_0 but was very clean base for a build. At first I suspected it had been crashed but it was straight as an arrow and sold easily. 

I had lusted after a 34R for some time, having previously had a far less modified 33R 10yrs prior, but I actually enjoyed owning the 33R more as I cared less about it. I absolutely adored pulling the cover back and looking at the 34 in the shed, but in reality it wasn't what I had built it up in my head to be and I am much happier building my race car to thrash. 

 

Edited December 7, 2021 by ActionDan

[burn4005]

On 12/7/2021 at 8:55 AM, GTSBoy said:

Pandemic policies haven't helped, but this has been coming for some time.

It's a spiral of stupid. When you look around at a large group of people, just remember, exactly half of them have lower than average intelligence.

Math Pedant here,

half the group has below *median* intelligence.

[GTSBoy]

On 12/7/2021 at 10:20 AM, burn4005 said:

Math Pedant here,

half the group has below *median* intelligence.

I knew that would happen. If I hadn't used the word "exactly" I could have gotten away with it.

[Shoota_77]

On 07/12/2021 at 1:11 PM, ActionDan said:

I can wade in to this and I'm 50/50 on it, as a person who bought a cheaper 34R then sold it for a small profit a few years later (which was 3yrs ago now). 

Dot points for quickness, all of this is just my opinion so take it with a grain of salt. 

• They are not worth current asking prices vs what you can get for the same money if what you care about is having the "best" car for the money,
• I don't begrudge anyone making good money on what I'd consider lesser examples/cars I wouldn't personally touch etc - why would I, it has no impact on me but I see some people getting really worked up about this part. 
• They have a ton of nostalgia tax on them and they are worth whatever someone will pay for them. \
• They have the attention of some demographics that place different values on aspects of car ownership than what might have been the previous general demographic of owners. By this I mean looking "cool" is worth a lot to some people.
• I can't tell if it will keep climbing (US market demand, less examples available, what is around is being modified to a higher standard now etc) or the hype will die and prices will return to some level of normality. 
• Driving one back to back with something, even of lesser value, quickly shows you where the value proposition really is (R35/M4/C63s/911/A90 Supra) the list goes on. 
   

This was bought about about 6yrs ago and sold 2yrs later or there abouts after I realised I wasn't enjoying the stress of trying to keep the car mint/worrying about resale values etc/and not being blown away by what I was getting for the time/money/effort I had put in to date, this was a mild street tune setup with 380rwkw, still twins etc. 

It was an ugly duckling with questionable aesthetics, he had the bonnet/bumper/boot all painted professionally to look that way 0_0 but was very clean base for a build. At first I suspected it had been crashed but it was straight as an arrow and sold easily. 

I had lusted after a 34R for some time, having previously had a far less modified 33R 10yrs prior, but I actually enjoyed owning the 33R more as I cared less about it. I absolutely adored pulling the cover back and looking at the 34 in the shed, but in reality it wasn't what I had built it up in my head to be and I am much happier building my race car to thrash. 

 

It's nasty as $hit to point it out but if only you held onto it.....

We've all had cars that we wish we kept (or wish we hadn't....).  Every second boomer that owned a Falcon GT in the day is a perfect example.  They went up fairly progressively over time however whereas no one could have foreseen such a rapid rise in value over the last 2 years for the 34 GT-R.

R34's ARE massively over valued (compared to what you could buy brand new for the same money) but using above example of a Falcon GT if value was based on how well it was made or how well it goes around corners then GT's aren't worth shit.... 

Also you buy a modern high performance car you're buying a depreciating asset whereas the GT-R is going to hold it's value for many years to come.

 

[No Crust Racing]

On 12/7/2021 at 2:50 PM, Shoota_77 said:

It's nasty as $hit to point it out but if only you held onto it.....

 

Don't get you sorry? 

[GTSBoy]

On 12/7/2021 at 11:53 AM, ActionDan said:

Don't get you sorry? 

He's saying that him pointing out to you that if you had kept it [you would be greatly better off] is a nasty thing to do, but he couldn't help himself. 😛

[No Crust Racing]

Oh, nah not nasty, just facts. New owner reckons he had offers of 150k The extra $$ is the only reason I wish I still had it really, who wouldn't want another 50k for letting a car sit and do nothing. I like money, I would liked to have made more money from the sale  

That's just about when I sold the car though, the question was more around are they worth the current ask (no IMO) and will they come back down or keep going up (could go either way). I also couldn't get it down the dirt road and up my driveway into my property without a a car trailer so it wasn't practical (we moved out of town). 

That said, if I had kept it another 2-3years it would have either cost me another 50k in mods (engine and box) or much more in divorce settlement because I was literally "that" unhappy owning the car. It was a relief to sell it (but that is more about me as a person, not the car market). 

But yes, more money plz and thx! 
 

[Shoota_77]

On 07/12/2021 at 3:01 PM, ActionDan said:

Oh, nah not nasty, just facts. New owner reckons he had offers of 150k The extra $$ is the only reason I wish I still had it really, who wouldn't want another 50k for letting a car sit and do nothing. I like money, I would liked to have made more money from the sale  

That's just about when I sold the car though, the question was more around are they worth the current ask (no IMO) and will they come back down or keep going up (could go either way). I also couldn't get it down the dirt road and up my driveway into my property without a a car trailer so it wasn't practical (we moved out of town). 

That said, if I had kept it another 2-3years it would have either cost me another 50k in mods (engine and box) or much more in divorce settlement because I was literally "that" unhappy owning the car. It was a relief to sell it (but that is more about me as a person, not the car market). 

But yes, more money plz and thx! 
 

I'm sure there are some that would see keeping the car and losing the missus as a bonus!!! 😂

Just pull the motor and gearbox out for the valuation and tell them it's a GTT rolling shell, value $15000.  Engine back in, real valuation $175000.  Happy days!

[No Crust Racing]

This man knows how to do business

Too late sorry, money already went into engine parts for race car.

[burn4005]

.

Edited December 7, 2021 by burn4005

[r32-25t]

On 7/12/21 at 3:09 PM, Shoota_77 said:

I'm sure there are some that would see keeping the car and losing the missus as a bonus!!! 😂

Just pull the motor and gearbox out for the valuation and tell them it's a GTT rolling shell, value $15000.  Engine back in, real valuation $175000.  Happy days!

Well it’s more the bnr at the start of the vin that makes them worth all the money