We will have more detailed coverage early next week, but we just wanted to tell you that the first KPGC10 Skyline GT-R to sell at auction broke expectations with a $220,000 sale in Monterey. RM Auctions expected it to go for $125,000-175,000, but it blew right through that ceiling. With the 10 percent commission, it was $242,000 out the door. This changes everything.
This is the most expensive hakosuka GT-R sold anywhere. It was about 10:30am in Japan when the auction ended. With the current dollar-to-yen exchange rate, this is going to blow the lid off the market. The Japanese nostalgic car market is broaching a new frontier.
We are uploading this en route to the Gooding & Co. auction, where a Toyota 2000GT and short-wheelbase Mazda Cosmo Sport will cross the block. Stay tuned.
Was it stock, or modified? If the latter…..fuck this auction and giving justification to the fart-can crowd that their mods “add value.”
For that money, it would have to be stock as a rock and unrestored.
Well, at least I should be able to fulfill my dream of owning a mid-90s Subaru Sambar mini-truck someday. I doubt those will go through the roof.
There’s been one for sale for quite a while around my city. RHD, but no title sadly. Oklahoma will though.. or so the owner says.
What doesn’t really make sense to me is that one Gtr sells for 245,00 and people think that they all should sell for that price or close to it, this auction was filled with people who had alot of money and a name to hold for their selfs and probably wouldn’t want to be seen buying cars under the 150,00 dollar margin
“This is the most expensive hakosuka GT-R sold anywhere”.
No. Several cars have changed hands privately for more than this in Japan. Key word being ‘privately’…
The thing is, you sell things “privately,” you can pretty much make your price and claim you got a certain amount. The above was at a “public” auction, so it’s almost as easy to verify the price.
Thats why shows like Fast n Loud can play lose with the numbers just to appear they’re making bank.
Like it or not, the best examples of such cars DO change hands ‘privately’. It’s not necessarily any of *our* business what they sell for in that scenario. Circus-like public auctions are not real world either, so it’s important to remember that this sale is a unique case and that the very same car could have been purchased for a fair bit less when it was on sale in Japan earlier this year.
What would have been the headline if this particular car had sold for what was effectively peanuts? Would that indicate that all ‘JNCs’ deserved the cold shoulder they’ve had until now from The Classic Car Establishment, and that their values had already hit their ceiling? Of course not. So don’t read TOO much into this one. The BEST examples of RARE and SOUGHT AFTER cars have been high for a good while now and all we are seeing is the rest of the world waking up to what’s been going on in Japan for several years already.
And did you really just compare what happens in the real world with what you see on “reality” TV shows like ‘Fast and Loud’…?
Mate, why don’t you have a large cup of STFU. you dont even live in japan, what would you know? reading websites.
Edited out of respect. /mods
@John Kim below:
About what I’d know: I usually keep my powder dry until I’m pretty sure I know what I’m talking about. In this case I KNOW what I’m talking about. I’ve been going to Japan for 25+ years (inc. several years living there) and mix in circles where I’d be privy to such information. I know owners who have sold C10-series GT-Rs for more than the RM Auctions car, and also people who have paid more. And I’m a KPGC10 owner myself.
So what are your bona fides (mate)?
Thank you Alan for your Superb insight. Ironically @John Kim perfectly described the original poster as well as wrongingly defending him… Lol
In my researching and purchasing of Japanese cars, I’ve personally dealt with both Alan, as well as other Japanese “experts” from Japan. Based on the sum total of my experiences, I’ll state unequivocally – Alan KNOWS what he’s talking about.
If Alan says there have been private sales for more money (something which I would expect was true anyways), then it’s as good as confirmed.
Gee, and we’re supposed to be a fun loving crowd full of comrade BS and an occasional friendly disagreement.
Anyway, call me stupid, but I’m of the school where I would like to see “hard facts” sometimes. You might be “the expert” on some things, but then again, I don’t know you on a professional level. You also have to understand that there are a ton of folks that also don’t know you on a professional level, so they might also be skeptical as well. You can’t just go around and expect people to believe you just because. You have to expect that what you claim might be given some doubt.
People shouldn’t get butthurt cause people don’t believe everything they see on the internet.
The short wheelbase Cosmo Sport 110 sold for $240,000 which ended up being $264,000 after auction fees and I hear the 2000GT sold for just over 1M at $1,050,000. The cat is out of the bag gentleman. The recognition for the Japanese nostalgics is long overdue though and this was bound to happen sooner or later.
will we see a “trickle down effect” for the faux gtr’s? wait and see…
“cat out of the bag” may not be the right idiom
perhaps “jeanie out of the bottle??
There are big numbers being posted across the board. E-types for $200,000; early Porsche 911s for $300-$900k, depending on configuration; someone even bought a Mini with wicker chairs for seats for $181,000. The market has grown exponentially for sports cars of the 60s, and Japanese cars are included in the uptick.
I guess…that the next step will be for more J-tin to start to feature in western classic car mags. The FB page for Classic Car (UK mag) recently put up a poll as to whether the Toyota 2000GT was better looking than the E-Type, which is quite a big step for a UK publication 🙂 How long before we see the “Skyline…Japan’s best kept secret” magazine covers…
I’m not sure how I feel about this development though. When the day comes that J-Tin have gone all Grey Poupon, how will we feel about tracking them, and driving them to work?
So what was the consensus, 2000GT or E-Type?
I started to read the comments, but stopped when it started to hurt my brain 🙂
I know what my consensus is!
2000GT or E-type????? BEN!?!?!? What about the Z432!!!! PERFECTION!
Every time I read one of these articles, I have to sit and wonder how long it’ll take for the prices to rise on the more affordable makes and models right now. My prediction is that as J-tin starts hitting it’s stride in the media, the cost of American classics will fall. When you have more people who grew up in Toyotas, Hondas, Mazdas, etc, looking for a cheaper route into the hobby/lifestyle through these marks, that AMC Javelin for sale down the street is going to have to take a price cut to find a home.
So what do you think a 70s Fairlady Z 432 would bring to the auction block? Very limited production.
joe be honest you’re bringing a 432 in to flip
No, no, I wish I had a 432, I just got a plain ole Fairlady. Just wanted to get a reaction, It’s gonna happen someday…
Remember gentlemen that auction perception and attitude changes as the “newer generation” of bidders get into the mix of things. What we are witnessing is more of a generational gap being filled. The Lamborghini Countach fetched for over $1M, the unforgettable poster on just about any car fanatics wall, that is now in their mid 40s- to mid 50’s.
A bar has been set for public auctions, whether it is “correct”remains to be seen. Time will tell once other cars have crossed the block.
Keep in mind at auction you will always have 2 things that changes the game on that particular day: who was in the room and was this a duel of the wealthy.
Once word spreads in Japan, I wonder if it will become even harder for people to buy and export the cars. As people above also mentioned, I’m also curious how this is going to affect the prices of non-GTRs (GC10s & KGC10s).
As Alan mentioned earlier, this car was for sale publicly in Japan for less than the sales price achieved. On the thought that it takes 3 public sales establish a price point, I wouldn’t expect this result to establish a new floor immediately, but it likely will follow that foreigners who are looking to buy a car in Japan will have this result thrown at them as a comparable when they walk into a dealership looking for a KPGC10. It’s fairly rational behavior that no one wants to make less money selling a near identical car within the same time period. After all, there was (likely) an underbidder who was willing to pay just a little less for the car, so there are theoretically at least 2 people at this price point.
I like turtles.
It is far less expensive to get on an airplane first class, fly to Tokyo to do some shopping, but one here, ship it over to the US in a secure container, and then ship it to anywhere in the US in an enclosed truck. The price is reflective of lazy buyers.