The R32-generation Nissan Skyline GT-R can now be imported to the U.S. under the 25-year importation rule. What effect has the opening of the American market had on GT-R prices? Classic and Performance Car in the U.K. spoke with Harlow Japanese Autos, who said that prices have "doubled," pegging the increase to American demand. We wanted to find out what American importers are seeing, and whether they agree.

We spoke with Samuel Risberg at Montu Motors, which is a Florida-based importer of JDM cars and claim to be the first U.S. importer to bring over R32 Skylines properly. They've been examining the market since the first month that R32s were legal to import, and they've seen the way the Japanese market has reacted to the pressure to export first hand.

Chris Cantle

There's good news, and there's bad news. The bad news first: Montu Motors has found that immaculate, low-mile GT-Rs are indeed becoming rare and expensive. They're harder to find, and prices reflect that. The good news is that there are plenty of GT-Rs available of a slightly lower caliber, with higher mileage or needing reconditioning. In Risberg's opinion, the overall cost to consumers for an average R32 is not much more than it was before, while exceptional cars are much more expensive.

We also spoke to Chris Bishop of Japanese Classics LLC out of Richmond, VA. His boutique shop specializes in high-quality JDM imports. Japanese Classics travels to Japan each year for several months to buy cars he can inspect in person. After all, these are used performance cars. "You can get into tricky territory reselling these cars," he said, alluding to abuse, modification, and hidden damage. He won't buy anything sight unseen.

He pointed out a few things. Yes, immaculate R32 prices are very high—closer to triple what they were before the 25-year rule applied. "That's certainly due to demand" from American buyers, he told me. And R32 Nismos? Forget about it. Bishop thinks, despite their rarity (only 500 were made), they're overpriced. "Three to four years ago," Bishop said, "Nismos were nowhere near where they are today. They've more than tripled."

Chris Cantle

All that being said, Bishop thinks the current price spike is a passing phase. "Next year, prices will level off, and then go down," he said, as newer cars become available to import. Currently, prices in Japan for 1992 and 1993 cars are relatively low. He imagines prices in the U.S. will stabilize at $15-20k, instead of the $20-30k they're going for now, which is closer to what they're actually worth as used performance cars in his opinion. After the market works itself out in a year or two, R32s will be a better deal.

And of course, the R33 and R34 Skylines are on the horizon. When those become eligible for import, R32 prices may dip even more. Don't expect fire-sale prices for R32s, though. "I think the demand [for R32s] will always be there" even after the R33s and R34s are eligible for imporation, noted Bishop—GT-Rs will always be popular, no matter the generation. It's just that prices will better reflect what they're actually worth.

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