This R34 GT-R Could Cost $1 Million and Take Years to Build

Heading to Auction at Lake Como

This 2002 Nissan R34 Skyline GT-R CRS by Nismo is part of a collection of five rare GT-Rs headed to auction. Organized by Broad Arrows and powered by Hagerty, the Concorso d’Eleganza Villa d’Este Auction event will see this GT-R and four others auctioned off for a total estimated value of $3,000,000.

On that note, this GT-R is considerably more valuable than the others, considering its rarity, spec, and the fact that it is one of 20 so far to have undergone the CRS program. As such, it’s estimated to go from $820,000 to $1,000,000, converted from Euros.

The CRS Program

Known as the Clubman Race Spec, it was developed by Nismo for the CRS restoration program back in 2013 (other sources state 2012 as the kickoff year). There is also an inspection process involved, so to enter this program, not only do you have to find an R34 GT-R, but you also have to make sure that it is in a good-enough condition to go through the whole process. As for the eligible models, any spec Nissan R32, R33, R34 Skyline GT-R can go “under the knife,” and recently, Nissan has opened the floodgates to this program for the R35 GT-R.

The CRS program is similar to how Nissan did the Z-Tune back in the day. A full restoration, a promise of performance, and options galore. The CRS program also includes Z-Tune-specific parts, if you have deep enough pockets to tick all the boxes in that area.

The Process

Now, it’s not just a paint job and a couple of parts. When Nismo says “restoration,” it means it. The entire car is taken apart. Every panel, part, bolt, washer, and clip is pulled from the car until a bare chassis remains. From there, the engineers take the time and effort to torsion test the chassis and check for any points of weakness in the chassis. Any part that has deteriorated beyond the manufacturer’s spec will be replaced, and any compromised seal will be redone.

After that, it’s off to the engine-building department, where the stock RB26DETT is disassembled and blueprinted. This next step will include a full overhaul with replacement parts, engine balancing, and benchtop performance mapping. Depending on what performance package the client opted for, different engine configurations can be installed by the engineers. Customers will have a choice between R or S variations of the RB26, with the R4 being the biggest at 2.8 liters and the most powerful. The other systems will receive similar treatment from Nismo, which includes the brakes, transmission, and other parts. These parts can also be upgraded as part of the program.

Finally, the last part includes interior finishing, during which Nissan either restores or replaces all worn interior parts in the car. In some cases, owners can reuse the existing parts and opt for a refresh, but they always have the option to buy a completely new part from the Nismo and Nissan catalog of heritage parts. Also, electrical components related to the vehicle’s harnesses are up for testing to ensure proper operation. As with everything else, anything that needs replacing will be replaced.

Finally, it’s off to the inspection area for a performance examination. Not only will the vehicle be tested on a dyno, but it will also be test-driven by a professional or Nismo test driver to ensure it is up to spec.

Waiting on the Wait-List

Nismo launched this restoration program back in 2013, and it currently involves a screening process that has approved fewer than 20 GT-Rs for work at the Omori Factory. Not only will you need a ton of money to even consider entering the program, but you also need a Skyline in immaculate condition, Omori Factory approval to start working on your vehicle, and finally, several years before you see that car again.

That’s the keyword: “years.” According to source estimates, Nismo quoted about 3 to 4 years from initial delivery to final delivery of the unit when the program was first offered. However, some accounts, such as the coverage by Larry Chen of Top Rank Global’s R34 Skyline GT-R CRS, stated that they had to wait a total of five years to take delivery of a unit they had commissioned way back when. Also, according to Top Rank in the interview, 2032 is the next estimated date of delivery if you were to put in an order now – a seven-year wait for an immaculately restored car.

After that, however, the result is a car whose odometer reading is basically set to 0, offering a near-zero-kilometer driving experience. Depending on the spec, the performance promise is a car with modern tech for both street and track use, but with the personality and heritage that the GT-R can bring.

However, the biggest hurdle will be the waiting times. Lines are getting longer and longer, and there are only so many Omori Factory engineers and technicians who can handle this very tedious and time-consuming process. Not to mention the amount of skilled work, hours, and experience it takes to disassemble a whole car and rebuild it from scratch back up to factory specifications, if not better.

Doing It Yourself

If you think about it, simply getting an R34 Skyline GT-R is already hard enough, and getting one with low miles and in pristine condition is yet another gamble. Even after you get the car, there is no assurance that the engineers at the Omori Factory will allow your car to be among the few that have gone through the program. At the time of writing, fewer than 20 known CRS R34 GT-Rs have gone through the program and have been delivered to clients.

Just getting the car will cost hundreds of thousands of dollars, given its condition, mileage, and overall state. In fact, one of the other cars in the lineup is a low-mileage, largely stock example of a V-Spec II Nür, and it goes for over half a million dollars (per the auction estimates). Following that, you will spend thousands to ship the car to Japan, and up to a million dollars on parts and labor for the program. Some estimates state that customers who undergo the CRS program can expect a starting price of $300,000 to $1,000,000. The amount you pay will correlate with how much tuning and work is needed or wanted. If you wanted the top-spec engine, that would cost you an arm and a leg, without the labor.

The Nismo R4 engine, which is the 2.8-liter crate engine Nismo offers for the CRS program, is allegedly priced at $54,000 USD, according to a post by GT-R Registry from 2021. On top of that, you have to contend with the exceedingly high price of Nissan GT-R parts.

So what’s the damage? Well, let’s say you want to buy a GT-R in scrutiny-ready condition, you might be looking at anywhere between $100,000 to $400,000 or more to get you started. Following that, it might need some parts, so budget about $100,000 for some bits and pieces. Then you have to make sure that it’s shipped properly, so budget another $10,000 or so for shipping it to Japan, give or take. Then, there’s the CRS program itself, which will set you back at least $300,000 to $500,000, depending on what you want done. If you want all the bells and whistles, then that’s pretty much a $1,000,000 bill on top of a car that already costs hundreds of thousands. Of course, these are all estimations.

Not only is it an astronomical cost, but you will also have to find someone actually willing to part with his GT-R. Judging by how the market is going, it’s going to take a lot of money if he doesn’t love his car, and even more if he does. Considering all of that, maybe it’s actually cheaper to buy this car at auction.