There is a massive fan base surrounding the Nissan GT-R name ever since the first-ever GT-R was built back in 1969 called the Hakosuka. Since then, there have been numerous generations of the Skyline GT-R, but the R34 remains one of the most remarkable. The R34 Nissan Skyline GT-R was built between 1999 and 2002 and had a few different trim levels ranging from the basic GT-R to the top-tier Z-Tune R34.
In 2022, we're left without any GT-Rs since Nissan killed off the R35 GT-R not too long ago. That said, fans have never stopped looking back in time and falling in love with all the previous iterations.
Today we're going to have a deeper dive into what the R34 Nissan Skyline GT-R is, and why they are selling for well above six figures on auction sites.
10 We Love: The R34 Nissan Skyline GT-R's Engine
The powertrain that nests underneath the hood of Godzilla is arguably its most important asset. In all models except for the Z-Tune, the engine's name was the RB26DETT, but everyone just refers to it as the RB26. The engine was a 2.6-liter twin-turbocharged straight-six engine and produced a "supposed" 276 hp and 289 lb-ft of torque.
We use the term "supposed" since in the '90s there was a gentlemen's agreement between various Japanese car brands that stated they shan't build cars that boast more than 276 hp. In reality, however, the RB26 in the R34 GT-R generated much more than 276 hp, and some sources even claim its power output was north of 300 hp.
9 Why It's Overpriced: The R34 Nissan Skyline GT-R Wasn't As Revolutionary As Its Predecessors
The R34 GT-R was a magnificent car, no doubt about it, but it didn't shake the automotive world as much as its predecessors, especially the R32. Take for instance the GT-R's nickname, Godzilla. The R32 GT-R was actually the first Skyline to have this nickname since it took on cars much more expensive, and more powerful than it, like the Honda NSX.
The R33 on the other hand was more like the middle child of the family. It wasn't as revolutionary as the R32, but it also wasn't as famous as the R34. But we'll get into the R34's big-screen fame in just a moment...
8 We Love: It Punched Above Its Weight Class
Competition amongst Japanese car brands in the late '90s was at an all-time high too with cars like the Mitsubishi Lancer Evolution causing much drama. However, it wasn't just the Lancer Evo that had supercar brands quaking in their boots, the R34 Skyline GT-R did too... albeit not as groundbreaking as its ancestors.
When new, the R34 GT-R had an MSRP of around $45,000 ($80,000 today), and it was put on the same pedestal as some exotic sports cars like the Ferrari F355 that cost three times as much, if not more. Speaking of its price...
7 Why It's Overpriced: The R34 Nissan Skyline GT-R Cost $45,000 When New
Back in the day, $45,000 was a lot of money to pay for a new car, especially one with a Nissan badge. However, the R34 GT-R was no ordinary Nissan, and was actually a bargain. That's not the case today at all.
Nowadays, R34s can be worth more than ten times their initial sales price. Take for example this 2002 Nissan Skyline GT-R V-Spec that sold for nearly $550,000 last year. That's just one of the reasons why the R34 is overpriced in today's modern world.
6 We Love: The R34 Nissan Skyline GT-R Is A Hero Car
The Fast and Furious franchise is possibly the main reason behind the R34 GT-R's fame. The R34 made its appearance in other TV shows and films apart from F&F, but it will forever remain the iconic car of choice of the beloved Brian O' Conner alongside his Mitsubishi Eclipse.
Contrary to popular belief, the R34 GT-R used in the film wasn't actually owned by the late actor, Paul Walker who played Brian O' Conner. However, Paul Walker did own his own R34 GT-R, and that too contributed to its rise in popularity.
5 Why It's Overpriced: The Toyota Supra MK4 and Mazda FD RX-7 Exist
As we've mentioned, the R34 GT-R dethroned exotic cars much more expensive than itself, but its real competition lied within its own class – the JDM sports car scene. The R34 had numerous rivals, but its most worthy competitor was the Toyota Supra MK IV, and to this day a dispute remains over which car is better. This generation Supra also sells for absurd prices nowadays, but it almost seems like a deal too good to be true in comparison to the Nissan.
Another worthy contender of the R34 was the FD Mazda RX-7. From the factory, these cars weren't an even match for each other, but when these JDM icons were upgraded... well that changed the game completely.
4 We Love: The R34 Nissan Skyline GT-R's Tuning Potential
To tinker with such a rare, exquisite piece of machinery seems like a sin, but there's a reason the R34's RB26 is the ideal platform for tuners. Without any forged or reinforced internals, the RB26 can withstand up to 500 hp. However, if you were to double down on strength, and abandon all logical ways of thinking, you can push well above 1,000 hp.
The R34 isn't only praised for its powertrain, of course. Cosmetic-wise, the R34 has an ever broader range of options to choose from. Any stock R34 can be transformed into anything from a drift car, to a drag car, or even a well-balanced track car if that's your thing. The R34 GT-R really is one of the most versatile cars ever built.
3 Why It's Overpriced: The Nissan R35 GT-R Is Cheaper And More Powerful Than The R34 Nissan Skyline GT-R
The R35 GT-R was the R34 GT-R's successor, and in many ways, it improved the GT-R name. Instead of having with an inline-six, the R35 opted out for a V6 engine, and when it was unveiled in 2007, it produced 485 hp and 434 lb-ft of torque.
Although it ditched the manual transmission and Skyline badge, the R35 was a much more competent vehicle, as well as one of the quickest on planet earth since it had a 3.2-second 0-60 time in 2007. Since then, the R35 GT-R gained much more power, and its most powerful variant puts out 600 hp. It was called the Nissan GT-R Nismo and had an MSRP of $212,435 - expensive, yet still cheaper than an R34 GT-R.
2 We Love: The R34 Nissan Skyline GT-R Can Almost Be Imported To The U.S.
The U.S. has a rule that states only cars older than 25 years may be imported to The States. Unfortunately, this hinders cool cars like the Nissan R34 GT-R from making it past the border since they were never sold in the U.S. to start with.
There is however a silver lining to this dark cloud. Because the first R34s were released into the wild in 1999, theoretically speaking, they can be imported in the year 2024 - just 2 years away.
1 Why It's Overpriced: The R34 Nissan Skyline GT-R Is Overhyped
Yes, the R34 is a stunning sports car. Yes, it is a brilliant piece of automotive ingenuity. And yes, it is one of the most famous cars on the planet. But is it really as great as the public makes it out to be? The MK IV Supra and R34 Skyline suffered the same fate - being overhyped by young, impressionable teens.
The Supra definitely had it worse, judging by the amount of 12-year-old boys still arguing a stock Supra will outmatch even the most hardcore modern hypercars since it comes with +1,000 hp "stock." But the R34 GT-R isn't too far behind it. What we're trying to say is that the R34 Nissan Skyline GT-R is an exquisite car, but its reputation was ruined by the public, and it set out to be a much greater car than it turned out to be.