Rare nissan sells for £701k – more than vintage Ferraris as collectors had bidding war for boy racer

A 25-year-old Nissan sold for half-a-million pounds more than many vintage Ferraris during an online auction this week.

The Nissan Skyline R33 GT-R Nismo 400R went for £701,400 after what London-based Collecting Cars called ‘an incredible bidding war’ on Monday 8 May.

The coveted 1998 model is described as ‘astonishingly rare’ with less than 50 understood to have been built. The specific car was number 40 of the stated 40-car production run. 

Collecting Cars said: ‘For around £200,000 to £250,000, you could currently buy a very usable Ferrari 250 GTE or 330 GT from the 1960s.’

The iconic car is immediately recognisable in films and in another auction this month a 2000 Nissan Skyline R34 GT-R driven by Paul Walker in Fast & Furious 4 sold for £1million.

A Nissan Skyline R33 GT-R Nismo 400R sold for £701,400 at a British auction house this week

Vintage Ferraris sell for ‘around £200,000 to £250,000 less’ than this model of the Japanese speedster 

A 2000 Nissan Skyline R34 GT-R driven by Paul Walker in Fast & Furious 4 sold for £1million

The 400R specifically has a ‘more aggressive aesthetic’ than standard models and is recognisable from its wider track, flared wheel arches plus its deeper front bumper and ducted side skirts.

The ‘R’ in the name stands for ‘racing’ which is backed by its top speed of 186mph, while it also has a variety of other upgrades compared to a standard R33 GT-R.

The odometer on the car shows 61,868km (38,436 miles), which is supported by a comprehensive service history from new.

The auction was also available to US bidders for the first time, as the car has been banned there for decades. However the racing car will soon be eligible for import under a new 25-year rule – which allows the vehicle to be admitted into the country because they are ‘collectible’.

Ed Callow from Collecting Cars said: ‘While you’ll pay more for a perfect concours-winning car, the values are still a world away from what the winning bidder paid for this 1998 Nissan Skyline GT-R Nismo 400R. 

‘Many will not even be aware of its existence, and even fewer will have ever seen one on the road.

‘In automotive terms, the Nismo 400R is a unicorn, so when one comes to market, the collectors with the wherewithal to acquire one sit up and take notice.

‘This car had already met its reserve at £550,000, but it soared well above that value by more than 25 per cent.

The coveted 1998 model is described as ‘astonishingly rare’ with less than 50 understood to have been built

The ‘R’ in the 400R stands for ‘racing’ which is backed by its top speed of 186mph

The auction was also available to US bidders for the first time, as the car has been banned there for decades

The 400R specifically has a ‘more aggressive aesthetic’ than standard models and is recognisable from its wider track

Under the bonnet is a twin-turbocharged 2.8-litre RB-X GT2 straight-six, producing up to 400hp

‘In the end it was just two collectors based on two different continents who were slugging it out for the right to own this revered 1990s performance car.

‘We have sold more than 500 Ferraris on Collecting Cars, but very few with a price that exceeds this coveted 1990s Nissan.’

Collecting Cars say the Nissan was presented in period-correct specification, with very well-documented low mileage from new.

They report: ‘Under the bonnet is a twin-turbocharged 2.8-litre RB-X GT2 straight-six, producing up to 400hp and 346lb-ft of torque, driving all four wheels through a five-speed manual transmission – enabling the 400R to sprint from 0-60mph in just 4.0 seconds, and with a top speed of 186mph.’

John Mayhead, editor of the Hagerty Price Guide and the UK’s guru on all things classic car values, told us: ‘The standard R33 Nissan Skyline GT-R is a very special car and extremely collectable, but the 400R is the gold standard model of that generation. 

‘This car, registered as the 40th example in a stated 40-car production run, is what Hagerty calls a ‘bookend’ car, one of the very first, or very last, which makes it even more desirable. 

‘It’s interesting that the seller makes it clear that the car was built in 1998, although it was a 1999 model year car. That makes it 25 years old, and eligible for import in to the US.

‘The sale price of this car may seem like a lot of money, but the same car had previously been advertised for sale last year for £1.6million.’