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So this is it? Is JDM market crashing suddenly?

timmy94

By timmy94,
in General Automotive Discussion

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timmy94 Enthusiast

timmy94

Posted
Posted

and the prices on JDM and even GT-R are dropping back to where they were?

I bought a R32 GT-R with new engine and turbos for $10k for 3 months ago or something. A car that i bought now because i got the opportunity from a friend and i thought if i dont buy this one, i will never ever afford a GT-R probably. 

 

Now im sitting here like a f**king dick head, watching these youtbers talking about jdm market are dropping again and how people think they are overpriced.

I mean old muscle cars etc are daaamn alot more expensive. I dont understand why supra, GTR ans sklvias would drop lile this.

Well, i did a f**king mistake

joshuaho96 Veteran

joshuaho96

Posted
Posted
On 8/3/2022 at 2:08 PM, timmy94 said:

and the prices on JDM and even GT-R are dropping back to where they were?

I bought a R32 GT-R with new engine and turbos for $10k for 3 months ago or something. A car that i bought now because i got the opportunity from a friend and i thought if i dont buy this one, i will never ever afford a GT-R probably. 

 

Now im sitting here like a f**king dick head, watching these youtbers talking about jdm market are dropping again and how people think they are overpriced.

I mean old muscle cars etc are daaamn alot more expensive. I dont understand why supra, GTR ans sklvias would drop lile this.

Well, i did a f**king mistake

Show me these clean R32 GTRs that are dropping in price back to 30k USD even. 50k+ is the norm for these cars now. Used to be you could get a collector-grade example for 70k even with inflated dealer pricing. Now it's more like 140k. The stuff on BaT that sells for 20-30k are major projects that will easily require 80k+ in work with the skyrocketing cost of parts and labor. If you ask Hagerty which actually collects information on how much people paid for their cars at auction and through private sales due to their agreed value policies the average price the price of R32 GTRs has jumped by an eye-popping 40% year over year. Youtubers are idiots for the most part and don't have their finger on the pulse of the market like the insurance companies and dealers do. Prices at auction have dropped, but this is because people are buying worse condition cars. You can see just from the Hagerty valuation guide alone that there is nearly a 4x jump between the worst condition they'll assign a value to and the best condition. The problem with crappy cars is that because parts are so expensive and getting discontinued it's becoming much, much harder to refurbish them correctly.

 

image.thumb.png.cd8fe5529ac6896e8e4f33352cd3f337.png

 

Is it possible for prices to drop like a rock in the near future? Maybe. But when you have youtubers destroying these cars for clout I have strong doubts that the supply of these cars will remain high enough to allow a drop in demand to drag prices down back to what they were even 2 years ago.

 

r32-25t Grand Master

r32-25t

Posted
Posted

If you paid 10k for a gtr I wouldn’t be complaining, the days of 10k GTRs are long gone and they were always going to drop a bit and then settle, the muscle cars did the same thing in the late 90s to early 2000s

joshuaho96 Veteran

joshuaho96

Posted
Posted
On 8/3/2022 at 3:35 PM, r32-25t said:

If you paid 10k for a gtr I wouldn’t be complaining, the days of 10k GTRs are long gone and they were always going to drop a bit and then settle, the muscle cars did the same thing in the late 90s to early 2000s

I still have no idea where the market will be going. R34s haven't even become legal to import into the US yet and thus far as every generation became legal to import into the US they had a significant bump in price. At the same time though people have known this was coming and I know a ton of people that bought an R34 GTR years ago and have had it stored overseas pending US import. I do expect things to settle down as everything shakes out circa 2027-2030 timeframe. Just in time for the first ICE bans to start. 

robbo_rb180 Grand Master

robbo_rb180

Posted
Posted

This happened back in 2007-2008 with aussie muscle cars. I've been saying for last 2-3 years it will drop, waiting for a heap to flood the market as a lot of people borrowed/financed cars and need to shift them to clear debt for the impending financial apocalypse  😂🤣

If you paid $10K (USd or Aud) it is super cheap like 2008 prices. Be happy that you got one for that price and enjoy it.


 

  • Like 1
timmy94 Enthusiast

timmy94

Posted
  • Author
Posted
On 8/4/2022 at 12:34 AM, joshuaho96 said:

Show me these clean R32 GTRs that are dropping in price back to 30k USD even. 50k+ is the norm for these cars now. Used to be you could get a collector-grade example for 70k even with inflated dealer pricing. Now it's more like 140k. The stuff on BaT that sells for 20-30k are major projects that will easily require 80k+ in work with the skyrocketing cost of parts and labor. If you ask Hagerty which actually collects information on how much people paid for their cars at auction and through private sales due to their agreed value policies the average price the price of R32 GTRs has jumped by an eye-popping 40% year over year. Youtubers are idiots for the most part and don't have their finger on the pulse of the market like the insurance companies and dealers do. Prices at auction have dropped, but this is because people are buying worse condition cars. You can see just from the Hagerty valuation guide alone that there is nearly a 4x jump between the worst condition they'll assign a value to and the best condition. The problem with crappy cars is that because parts are so expensive and getting discontinued it's becoming much, much harder to refurbish them correctly.

 

image.thumb.png.cd8fe5529ac6896e8e4f33352cd3f337.png

 

Is it possible for prices to drop like a rock in the near future? Maybe. But when you have youtubers destroying these cars for clout I have strong doubts that the supply of these cars will remain high enough to allow a drop in demand to drag prices down back to what they were even 2 years ago.

 

 

On 8/4/2022 at 3:12 AM, PranK said:

Youtubers talk shit. They get paid for your clicks.

 

Well, it seems like the auction dealers in japan did not sell any cars at all, at the auctions.. cause people suddenly dont pay for them. So they have a bunch of cars now they cant get rid off. 

 

timmy94 Enthusiast

timmy94

Posted
  • Author
Posted
On 8/4/2022 at 12:52 AM, robbo_rb180 said:

This happened back in 2007-2008 with aussie muscle cars. I've been saying for last 2-3 years it will drop, waiting for a heap to flood the market as a lot of people borrowed/financed cars and need to shift them to clear debt for the impending financial apocalypse  😂🤣

If you paid $10K (USd or Aud) it is super cheap like 2008 prices. Be happy that you got one for that price and enjoy it.


 

 

On 8/4/2022 at 1:12 AM, Ben C34 said:

Has to be missing a zero.

 

On 8/4/2022 at 12:44 AM, The Bogan said:

I find it hard to believe it was purchased for $10k, I assume he missed a zero or something

 

On 8/4/2022 at 12:35 AM, r32-25t said:

If you paid 10k for a gtr I wouldn’t be complaining, the days of 10k GTRs are long gone and they were always going to drop a bit and then settle, the muscle cars did the same thing in the late 90s to early 2000s

I paid 10k for it. It been sitting in my friends garage since a few years back. Actually right before the price increase in 2018?

I helped him to fix the engine and so, but he never drove it. So i bought it of him for 10k where the engine is new built, turbos are new, injectors been serviced. Not perfect body condition has some rust, but was planning to fix that anyway.

 

 

GTSBoy Grand Master

GTSBoy

Posted
Posted
On 8/4/2022 at 12:28 PM, timmy94 said:

I paid 10k for it. It been sitting in my friends garage since a few years back. Actually right before the price increase in 2018?

I'm sitting here, trying to work out how the living f**k you can parley a ~$10k purchase of a GTR ~5 years ago into

On 8/4/2022 at 5:08 AM, timmy94 said:

Now im sitting here like a f**king dick head, watching these youtbers talking about jdm market are dropping again and how people think they are overpriced.

It just beggars belief. You won the f**king lottery and you're complaining about it?

  • Like 5
Shoota_77 Veteran

Shoota_77

Posted
Posted

I'm sorry if this is harsh but if you bought a GTR for $10K 5 years ago and you're complaining then you're an absolute twatt!

Unless it's a rusty bucket of shit it's worth $50K minimum all day.

However if you bought it for $90K 5 years ago and it's now worth $50K then you might actually have something to bitch and moan about. But you didn't and it's not so smile and move on.

  • Like 1
joshuaho96 Veteran

joshuaho96

Posted
Posted
On 8/3/2022 at 9:21 PM, timmy94 said:

 

Well, it seems like the auction dealers in japan did not sell any cars at all, at the auctions.. cause people suddenly dont pay for them. So they have a bunch of cars now they cant get rid off. 

 

Japanese auctions tend to be a whole lot of garbage these days. I don't know why you think that matters. It was bad 4-5 years ago and has only gotten worse as these cars get older, the grading gets more lenient, and the bottom of the barrel is getting scraped harder and harder. There's a bit of market softness as everyone gets nervous about a recession in the US but that's a welcome respite given the past 2-3 years that has been absolutely insane.

  • Like 1
PranK Grand Master

PranK

Posted
Posted

Yeah I'm having a hard time understanding this topic at all.

For the most part, irrespective of the car, be it JDM or not, $10k is not a huge amount of money. Especially in our car market, I was looking at manual 350Z's last night on Carsales and found none for under 18k. 

I'm not pouring out any sympathy for a 10k GTR. Soz. 

  • Like 6

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