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Price opinion from advertisements and recorded sales. Not an inspection or a certified valuation.
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Reference photograph of a Nissan Skyline GT-R M-Spec Nur
Valuation · Nissan · R34 · 1999-2002

Nissan Skyline GT-R M-Spec Nur

2.6L twin-turbo six (RB26DETT N1) · 206 kW / 392 Nm · 6sp manual (Getrag) · AWD
BUYRated within the over $100k band · 8 of 104 at this money
Model value
$345,000
Must gain each year to break even
+3.2%
The projection clears it. 14 of 244 in the library do.
CarQuant score
72/100
Scored against the over $100k band, not the whole library
Evidence grade
Thin
One to three recorded Australian sales
$345,000
$340,697 lowhigh $642,352
Calibrated to a thin record
Three Shannons sales 2021-24: $378,500, $332,000 and $331,000 - all M-Spec Nur

Looking at a Skyline GT-R for sale?

Put in the asking price and the odometer reading. You will see what this model should make at that reading.

Should make, typical example
$345,000
At about 60,000 km. Enter an asking price to compare.

Odometer only. Colour, options, history, condition and the photographs move it further, and that is what the report reads.

A person reads the advertisement and its photographs. Usually back within 48 hours. Read a real listing report

Price history

Today $345,000 · modelled median at five years $456,834
Solid line: the value this library has carriedDashed from 2026: modelled · even money $395,746 to $554,416
The green band is the even-money range and the one to plan on: half of outcomes land inside it. The pale band behind it bounds eight in ten ($340,697 to $642,352). The path is this model's own: it starts along the momentum of its recorded history and bends toward its projected median as the horizon lengthens, so no two cars share a future curve.

The verdict

Strong within its price band. Scores 72/100, ranking 8 of 104 in the over $100k band. Demand durability is the strongest input, liquidity the weakest.
Running it costs about $8,050 a year (2.3% of value), which is what the economics score measures. All in, including the projected value change, it is -$10,867 a year.
The model's five year median is $456,834, a +32.4% move, with the tenth percentile at $340,697.
Value calibrated to a thin record. Treat the level as provisional.
Evidence
Thin3 recorded sales
Off its peak
-9%
Value band
wide
Multiple recorded transactions plus an aggregate source. Treat the level as reliable.
Scored against every recent Australian sale this library holds, half its values land within 11.2 per cent of the price paid and the rest miss by more, in either direction. Projections are therefore damped toward flat in proportion to how little is known, and the plausible band is never narrower than the error the model is known to make.
Short term (1-5 years)-$10,867 a year all in, +32.4% median value move
Long term (10-15 years)Scarcity case already formed
Negotiate from$345,000

Recorded sales

Every recorded observation, and when
4 rows on record
$387k$356k$324k
202220232024202520262027
the value this record published, year by yearnow $345ksoldcontext, excluded1 row sits off this scale. Open the list below to see them.
Every row, with its price and note (4) ↓
Library value against the sold record
3 sales · median $332,000
Value $345,000
$331,000$378,500
Aug 2026Collecting Cars$150,000Context, excluded
V-SPEC, NOT M-SPEC NUR - 166,659km, white QM1, Cairns QLD, verified. Kept here to show the spread across the range; it is a different variant and is priced properly under its own entry, where backing out the kilometres puts an ordinary car near $200,000
Aug 2024Shannons$331,000Sold
M-Spec Nur at Shannons' final auction before exiting the business
Aug 2023Shannons$332,000Sold
M-Spec Nur with 96,000km, lot 223, Winter timed auction
Nov 2021Shannons$378,500Sold
White M-Spec Nur, lot 203, 40th Anniversary timed auction - the 2021 peak
3 completed Australian sales of 4 rows. Rows marked asking, no sale, or context are shown for honesty but do not count toward the evidence grade: an ask is not a transaction, a pass-in is a refusal, and a provenance or overseas result does not price the ordinary local car. The badge on every row is computed by the same rule as the grade, so the two cannot drift apart.

Score breakdown

Against the over $100k band median
104 cars in band · ink tick marks the median
Ownership economics30% of total
72/100+3
Scarcity25% of total
72/100+7
Demand durability20% of total
94/100+16
Liquidity15% of total
48/100+16
Risk resilience10% of total
64/100+30
Sub-scores run 0-100 before weighting; the weighted total is 72/100. Medians are computed live from the 104 cars currently in the over $100k band, so this picture moves when the library does.
The working behind each factor: baseline and drivers ↓
Ownership economics30% weight
72/100
Baseline78 pts
− 2.3% of value a year to run-6 pts
Sub-score (baseline plus drivers, clamped 0-100)72 pts
Scarcity25% weight
72/100
Baseline40 pts
+ 285 M-Spec Nurs built, a handful in Australia+32 pts
Sub-score (baseline plus drivers, clamped 0-100)72 pts
Demand durability20% weight
94/100
Baseline48 pts
+ The JDM apex car, demand proven at three Australian auctions+34 pts
+ US 25-year import wave reaching R34s now+12 pts
Sub-score (baseline plus drivers, clamped 0-100)94 pts
Liquidity15% weight
48/100
Baseline12 pts
+ 70 days on market+26 pts
+ A sale or two a year locally+10 pts
Sub-score (baseline plus drivers, clamped 0-100)48 pts
Risk resilience10% weight
64/100
Baseline88 pts
− Odometer and originality verification on imports-14 pts
− Variant mix spans a three-times price range-10 pts
Sub-score (baseline plus drivers, clamped 0-100)64 pts
Model output, not advice or a valuation. Verify independently before acting.

What it costs to own · about 2,500 km a year

Annual cost of access, excl. fuel
$8,050a year
Share of value per year
2.3%
Scheduled servicing$1,80022%
Tyres, annualised$90011%
Registration and CTP$7509%
Insurance$2,60032%
Sinking fund (failure table)$2,00025%
All-in annualised (a different number)
Purchase (model value plus duty)$358,800
Running costs × 5 years$40,250
Median exit, net of selling cost$453,384
All-in annualised over 5 years-$10,867/yr
Share of value per year-3.1%
Cost of access is what the car costs to run. All-in annualised adds depreciation, duty and selling costs across a five year hold. They answer different questions and are labelled separately for that reason.
Break-even appreciation, 5 year hold
3.2%a year, only to get the money back
This library projects
+5.8%a year
The projection clears the hurdle by 2.6 points a year. On these assumptions the car covers its own costs and leaves a surplus.
Purchase$345,000
Stamp duty$13,800
Running costs x 5 years$40,250
Selling cost at exit, 1.0% of the salescales with price
Sale price needed at +5 years$403,081
Storage
Bought at
No forecast is used to compute the hurdle. It is the purchase, the duty, any premium and 5 years of running cost, grossed up for the cost of selling and spread back over the hold. The projection it is measured against is the weakest number in this product and is drawn that way in the chart above. Transport, finance and any restoration spend sit outside it.

Specification

Engine2.6L twin-turbo six (RB26DETT N1)
Power / torque206 kW / 392 Nm
0-100 km/h4.9 s
Transmission6sp manual (Getrag)
DriveAWD
Kerb weight1,560 kg
Built worldwide285
Delivered to AustraliaNone. Every car here is an import
Effective AU survivors15 (imported)
Australian sales / year3
Typical days on market70 days
Launch price$95,000

What moves the price on this model

Colour hierarchy
Millennium Jade (the M-Spec Nur signature)+6%
White Pearl+3%
Silver0%
Options
Documented kilometres below 50,000+12%
Unmodified RB26 with original turbos+12%
Nismo catalogue parts with documentation+4%
Odometer sensitivity±1.5% per 10,000 km vs 60,000 km
Applied on top of these

Condition, history, originality, ownership, delivery and modification multipliers apply to every car in the library. They are applied automatically when an advertisement is analysed, and the schedule is set out once, on the analyser page.

Projected value in five years

Projected value at five years
$456,834
+32.4% on today
The model's figure. Today it is $345,000.
Even odds it lands between $395,746 and $554,416.
$340,697 lowhigh $642,352
The shaded range is even money and 40% wide; the outer figures bound eight outcomes in ten. Band width follows the evidence - a model with a tight measured record carries a tight band.
A stronger five year outlook than 95% of the library.
-26.6% weakest projected move in the librarystrongest +73.1%
Five-year cost of ownership
Value change alone: +$111,834 across five years.
Running costs over the same period: $40,250.
Duty and expected selling costs: $17,250.
Net cost of five years of ownership: -$54,335, or -$10,867 a year.
The projected value rise offsets part of the running cost. It does not make the car free to own.

The case for and against

The case for

The definitive JDM collector car with three published Australian transactions behind it - rare evidence at this price point anywhere in this library. The American import wave has only just reached R34s, and the Nur variants are the fixed-supply apex of it.

The case against

The record shows a 2021 peak that has not been regained, the only Australian venue that sold them has left the business, and every result depends on variant and kilometres to a degree that makes careless comparison expensive.

Known faults and risks

Risk 1Variant misidentification against results
Risk 2Odometer and originality verification
Risk 3The peak-era buyer pool thinning
RB26 rebuild$15,000
Getrag six-speed overhaul$9,000
Turbo replacement$7,000

Similar cars, and what they cost to run

Evidence behind this valueThin · 3 recorded sales
Carried value
$345,000
Historical price
2016 · $150,0002026 · $345,000
Thin
Multiple recorded transactions plus an aggregate source. Treat the level as reliable.
Three Australian auction sales, all at one house

A white M-Spec Nur made $378,500 at Shannons' 40th Anniversary auction in November 2021, lot 203; a 96,000km example made $332,000 at the August 2023 Winter auction, lot 223; and a third made $331,000 at Shannons' final auction in August 2024 - the last collector car headline the house produced before exiting auctions. That is a genuine transaction record, and it reads as a market that peaked with everything else in late 2021 and settled about 12 per cent lower.

Read the rest of the evidence notes (5 more)
The variant warning applies doubly here

R34 GT-R results span the base car through V-Spec, V-Spec II, Nur variants and Nismo specials across a three-times price range, so a result on one is not a result on another. These three sales are all M-Spec Nur - 285 built, the N1-block run-out with the softer M-Spec suspension - and this entry prices that car, not an R34 GT-R in general.

The official 206kW is a fiction

Of the gentleman's agreement; the N1-spec RB26 made comfortably more.

What the August 2026 v-Spec sale actually says

Read bare, A$150,000 against this entry's $345,000 looked like a warning. With its odometer attached - 166,659km against roughly 63,500km expected - it is not. Corrected for kilometres, that car implies an ordinary V-Spec near $200,000, putting the Nur at about 1.7 times the volume version. That is a normal spread for a run-out specification, and it supports this value rather than threatening it.

What moves a car

Kilometres, unmodified originality and Millennium Jade paint - the reported $1.3m for a Nismo 400R on Collecting Cars, price never independently confirmed, shows where the special-variant ceiling sits without pricing this car.

August 2026 - the variant warning above, demonstrated

A 1999 V-Spec with 166,659 indicated kilometres made $150,000 on Collecting Cars in Cairns, verified. That is 43 per cent of the value carried here, and both figures can be right at once - a high-kilometre V-Spec and a Nur are different cars sharing a badge, which is exactly the trap this entry was written to avoid. It is filed as context rather than as a sale against this value, and it is useful precisely because it marks where the bottom of the R34 range now sits.

This page prices the model.
The report prices the car in the advertisement.

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This model, today$345,000
Half of sales are further out than$38,568
The report$249
155×
the price of the report: what half of real sales of this model sit further from this page's number than, on this car
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