Z's on BAT and other places collection

[Gav240z]

PS30's or Z432's have been selling in the $300k range for some time, just like their counterpart KPGC10/KPGC110 Skyline GTRs - which have routinely sold for even more and share the same engine (S20)/parts.

https://www.facebook.com/GTRRegistry/posts/new-record-price-for-1973-nissan-skyline-2000-gt-r-kpgc110-with-43460km-sells-fo/1513442172144533/

Jan 2023

Quote

NEW RECORD PRICE* for 1973 Nissan SKYLINE 2000 GT-R (KPGC110) with 43,460km sells for 47.3m yen ($624k AUD / $432k USD / 331k GBP) car cost inc. commission by bhauction in Tokyo over the weekend. And you guys thought R34 GT-Rs are getting expensive! This sold for more than the Ferrari 250GTE!

This was at the height of Covid madness though!

[Zpenman]

Thanks for the info on the Z432's, guys. Was pretty much unaware of these, good to learn something new.

[xs10shl]

15 hours ago, Gav240z said:

This was at the height of Covid madness though!

Worth saying that exchange rates also play a large role in generating sale headlines.  43MM yen for a KPGC110 in 2020 was worth $432,000 then, but it pencils out to a (slightly) more reasonable $292,000 as of today - a 33% discount for those paying with greenbacks.

[Gav240z]

7 hours ago, xs10shl said:

Worth saying that exchange rates also play a large role in generating sale headlines.  43MM yen for a KPGC110 in 2020 was worth $432,000 then, but it pencils out to a (slightly) more reasonable $292,000 as of today - a 33% discount for those paying with greenbacks.

 

Yes, the Japanese Yen has depreciated a lot since then.

AUD price in 2020 was around ~$645,000 AUD in 2020. (at 1 yen buying 0.015 AUD cents)

Today it's closer to $430,000 AUD (at 1 yen buying only 0.010 AUD cents).

Problem for us in Australia is we get slugged luxury car tax on anything over ~$80,000 AUD... (33% of anything above that threshold).

https://www.ato.gov.au/businesses-and-organisations/gst-excise-and-indirect-taxes/luxury-car-tax/how-lct-works

So that would add about $115,500 AUD on top of the purchase price. 😞

So close to $545,500 AUD all said and done...and I believe you pay stamp duty when registering the car in your name. So not even on the road at that price.

 

 

[Zed Head]

Another weird auction.  There was one in the past where the guy made a huge bid, way over the last, and ended up getting the car.  The guy that got this Z432 bumped the bid by $120,000 nine days ago.  And won.  Weird stuff.  Not how auctions typically work.  Money to burn.

https://bringatrailer.com/listing/1971-nissan-fairlady-z-432/

Edited January 17 by Zed Head

[siteunseen]

I've never liked the way bat adds another minute when someone outbids the last guy. That's not the way auctions work in my opinion. So weird stuff I agree.

Good on the winner, he let everyone know he wanted this car. No last minute games to play around with. 

[xs10shl]

IMHO $250K feels about correct for a good example when sold stateside.  As I mentioned earlier, given that the predominant trading currency for a JDM car is Yen, everything is 33% off from 3 years ago, and over 50% off from when I bought my Z432 in 2008.  In that light, I feel that $250K is actually a healthy result.  These trade in a pretty thin market in the US, as I've come to understand.  Many enthusiasts in the US certainly appreciate the PS30, but will typically tend to gravitate towards what they were familiar with as children, namely an HLS30, which is also $200K cheaper.

Edited January 17 by xs10shl

[Zed Head]

Regardless of thoughts on value, it's just not rational to bid like that.  If money has value to you.  It would be ironic for somebody who has $250,000 of extra income to not understand how to maximize the value of his money.  Unless he has so much money that $250,000 is a drop in the bucket.  Or he made money the easy way, by investing in something like crypto and it's just a number on a computer screen.  I know some crypto people and they have tons of money and really have not worked very hard for it.  We live in strange times.

Maybe the buyer expected some competition.  Or maybe he believed what the internet says is the "correct value" of the car.  Whatever is going on, he probably could have saved 10's of thousands of dollars by bidding in a rational way.

It's just weird is what I'm saying.

[bluez]

On 1/15/2024 at 1:21 PM, Zed Head said:

Interesting that the Yves folks didn't set a reserve above the selling price.  Maybe they just wanted to move it on.

Based on past BaT results the 199 number should have brought more.  Maybe the low number obsession is waning.

Bet the new owner is quite happy with this purchase, I would be..

Looks pretty good for an older restoration, pretty much original. 
Crazy how in this same collection the 77 ZZZAP with an automatic sold for over $110k.

 

[DC871F]

1 hour ago, Zed Head said:

Regardless of thoughts on value, it's just not rational to bid like that.  If money has value to you.  It would be ironic for somebody who has $250,000 of extra income to not understand how to maximize the value of his money.  Unless he has so much money that $250,000 is a drop in the bucket.  Or he made money the easy way, by investing in something like crypto and it's just a number on a computer screen.  I know some crypto people and they have tons of money and really have not worked very hard for it.  We live in strange times.

Maybe the buyer expected some competition.  Or maybe he believed what the internet says is the "correct value" of the car.  Whatever is going on, he probably could have saved 10's of thousands of dollars by bidding in a rational way.

It's just weird is what I'm saying.

Maybe he was the recent billionaire from the powerball. Money would have little value at that point.

Edited January 17 by DC871F

[HS30-H]

2 hours ago, Zed Head said:

Regardless of thoughts on value, it's just not rational to bid like that. 

2 hours ago, Zed Head said:

Maybe the buyer expected some competition.  Or maybe he believed what the internet says is the "correct value" of the car.  Whatever is going on, he probably could have saved 10's of thousands of dollars by bidding in a rational way.

I'll admit that I too find it a strange way to approach an auction, but second-guessing that bidder is not going to get us a firm answer as to why he did what he did.

The plain fact is that the 250k USD bid is about right or slightly low for the car in its context, being away from its premium market (Japan) and needing a little work to bring it up to really nice condition, mainly underneath.

I don't think he could have "saved 10s of thousands of dollars" by bidding in lower increments and in fact he may well have saved himself a fair chunk of money by discouraging other potential bidders who would otherwise have been pulled along by the more usual last-minute bidding war scenario.   

[HS30-H]

3 hours ago, xs10shl said:

Many enthusiasts in the US certainly appreciate the PS30, but will typically tend to gravitate towards what they were familiar with as children, namely an HLS30, which is also $200K cheaper.

'Interesting' - if not unexpected - to see comments on the auction where people were calling the car a '240Z'. Clearly a legacy of what was presented to them as 'fact' over the last 53+ years.

I think this car is a good choice for anyone who wanted a 432. It is MILES better than the so-called "1969" 432 which sold at Mecum's Monterey sale last year for more money.

I have an inkling that the car in question may soon end up in a Singapore-based collection, if my suspicions are correct...