1990s Imports Soar Past $1 Million as New Zealand’s $16.5 Billion Classic-Car Market Shifts
Updated
Updated · New Zealand Herald · May 19
1990s Imports Soar Past $1 Million as New Zealand’s $16.5 Billion Classic-Car Market Shifts
2 articles · Updated · New Zealand Herald · May 19
$1 million-plus prices for some 1990s and early-2000s Japanese imports are overtaking demand for many pre-war and vintage cars, leaving older models harder to sell in New Zealand.
Generational buying power is driving the shift: millennials and Gen Z favor cars they idolized in the 1980s, 1990s and 2000s, while insurers and dealers say owners are even lowering agreed values on older classics.
Nissan Skyline prices illustrate the reversal, with R32 GT-Rs rising from about $33,000-$50,000 a dozen years ago to as much as $636,000 in 2023, while an R33 GT-R Nismo 400R sold for $1.4 million.
Dealers, restorers and auction houses say only top-tier older cars with rarity, provenance or museum-grade condition are holding up, as the gap widens between blue-chip examples and ordinary stock.
New Zealand’s classic-car sector has a $16.5 billion footprint and more than 200,000 owners, but weak local demand and a soft currency are pushing more heritage vehicles toward offshore buyers.
Are 90s Japanese sports cars a solid investment or a nostalgic bubble about to burst?
With master mechanics retiring, who will keep the world’s most iconic classic cars running?