Has the Hako bubble burst ?

datsfun

Club Member
There was a huge buzz when this genuine s20 engined C10 was first offered for sale by a dealer here in UK. Price was POA which later was revealed to be offers in excess of £220k.:)

It remains unsold and the asking price keeps dropping by tens of thousands and recently it was offered at auction but reserve not met I guess.. Now the latest price is an affordable £120k ( which I suspect is open to £10-15k negotiation for serious buyer)

https://www.carandclassic.co.uk/car/C1239192

I am curious as to why it not been snapped up thus far?

This is against a backdrop where prices are sky rocketing in Japan and I guess one would struggle to buy an equivalent model in Japan for less than £120k. So price point now is not bad at all.

A few months ago, a very well presented C10 with RB26 was listed for £120k and sold for six figure sum.

EvOmPKVXYAEcFxU.jpeg.jpg EvOmPUsXIAQuMIj.jpeg.jpg

Is it because the white GT-R isn't visually as appealing due to stock steel wheels and ride height etc and this is putting buyers off as it does not draw in the crowds?

I would have thought a serious collector would have jumped at the opportunity to buy a non molested and stock looking s20 engined car given how few are left back in Japan that have not been " modified" ?

Maybe the bubble has burst with Hako's now and the cool kids have moved to later model JDM cars like R34's and Honda NsX's ? And those who want one are prepared to settle for the non GT-R siblings which can be modified and not loose value from an investment perspective.?
 

Albrecht

Well-Known Forum User
Maybe the bubble has burst with Hako's now and the cool kids have moved to later model JDM cars like R34's and Honda NsX's ?

LOL. Would dearly love to hear some examples of who these "cool kids" actually are.

But anyway, there's no bubble other than the one that envelops all so-called classic and collectable cars. If you own one as any kind of investment/pension plan then you are missing most of the point anyway. And one sale/non-sale, asking price/sale price isn't necessarily empirical proof of anything in particular.


If there's any rot, then garbage like this is part of it:

 
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Robbie J

Club Member
DD I wouldn't say are the best place to sell such a car could be one reason, I'm taking a car to the garage a week after next for a MOT next door to DD and will now pop in to take a look... they were a Subaru dealer till 3 years ago and did classics as well as a side line, they are a mile from where I live

No comment on Dave's video... the car is a bit showy but looks nice enough in the flesh
 

STEVE BURNS

Club Member
I know I am getting old and my eyes are not as good as they where but if I saw that parked out side my house I would be sick IMHO it looks awfulawful wheel arch.jpg
 

Albrecht

Well-Known Forum User
DD I wouldn't say are the best place to sell such a car could be one reason, I'm taking a car to the garage a week after next for a MOT next door to DD and will now pop in to take a look... they were a Subaru dealer till 3 years ago and did classics as well as a side line, they are a mile from where I live

The KPGC10 wasn't actually at the Kew showroom when I was asked to go and have a look at it by a potential buyer. DD had told him it was at one of their other locations and that that they would move it up to Kew if necessary...

No comment on Dave's video... the car is a bit showy but looks nice enough in the flesh

The problem isn't really the car itself, just what he claims about it is either questionable and/or just plain nonsense.

Time and time again it gets promoted as something it isn't. For example:

original GTR beauty.jpg
20160624_084925.jpg
 

Albrecht

Well-Known Forum User
I know I am getting old and my eyes are not as good as they where but if I saw that parked out side my house I would be sick IMHO it looks awful

Can you point out anything particularly troubling about it, apart from the obviously inappropriate modern tyre choice?
 

STEVE BURNS

Club Member
Can you point out anything particularly troubling about it, apart from the obviously inappropriate modern tyre choice?
the body and style looks fine nothing wrong with that what makes me cringe is the actual stance that looks like some sort of comedy car
 

datsfun

Club Member
DD I wouldn't say are the best place to sell such a car could be one reason, I'm taking a car to the garage a week after next for a MOT next door to DD and will now pop in to take a look... they were a Subaru dealer till 3 years ago and did classics as well as a side line, they are a mile from where I live

But in todays age where buyers are viewing potential buys online through Web pages and other online platforms does it really matter whether dealer is a marque specialist ? Their inventory is impressive so not a back street garage who is pumping above their weight in flogging a very rare and collectable car ?
 

Albrecht

Well-Known Forum User
the body and style looks fine nothing wrong with that what makes me cringe is the actual stance that looks like some sort of comedy car

You understand that the KPGC10 was an homologation special, right?

The poor tyre choice on the DD Classics car is exacerbating the empty wheelarch look, but the cars were sold with skinny TOPY steels and full profile tyres as part of the homologation process, much like the Fairlady 240ZG was. The rear quarter pressings and FRP overfenders were KPGC10 model-specific and it was expected that owners would make a personal choice to buy wider wheels and tyres of their choice, and Nissan offered suitable Kobe Seiko magnesium 8-spoke wheels in the Sports/Race Options list for the KPGC10 model.

JAF-FIA-homol-KPGC10-CROP.JPG KPGC10-Press-Car-1.JPG
 

datsfun

Club Member
LOL. Would dearly love to hear some examples of who these "cool kids" actually

Maybe not a "kid" but overnight this R33-Screenshot_20210815-104412_Facebook.jpg which were a £15k car until 5 years ago sold for $200k plus. Yes I know one sale is not concrete evidence ( same as that KPGC10 that sold for $250k didn't set the trend) but recently there seems to be a trend for the money to move to the newer Japanese classics.


And one sale/non-sale, asking price/sale price isn't necessarily empirical proof of anything in particular.

Agreed but we are not awash with KPGC10's in UK so I can't look at others to determine if the valuation is a trend or just a one off, hence the question to start this thread.

There are half a dozen in UK I believe and this is the only one that has been publicly been offered for sale.
 

Albrecht

Well-Known Forum User
Perhaps that explains the £100k drop Steve :D

I'm not sure what your stance is on all this and your first post contradicts itself. We can all poke holes in the (sometimes quite silly) high asking prices of particular cars, but 99.9% of extant KPGC10s are still in Japan and that's where 99.9% of them still change hands.

There's no visible softening of prices for KPGC10s in Japan and they are still changing hands privately for high figures, as are all S20-powered models. But of course your title cites "Hako", which means all C10-series Skyline models. How does the asking price reduction of one particular car indicate a trend for thousands of other - more plentiful and usually much less expensive - C10 Skyline variants?

What you see with the DD Classics car is mainly an example of people not knowing what they are looking at (evidenced by this very thread...) and people who have an interest and budget but only rudimentary knowledge on the model, thus being nervous and suspicious as a result. I have been asked to appraise the car by people who clearly have no idea what to look for and who, indeed, have never even seen a KPGC10 in the metal. Even the tyre choice has frightened the horses.
 

Albrecht

Well-Known Forum User
Yes I know one sale is not concrete evidence ( same as that KPGC10 that sold for $250k didn't set the trend) but recently there seems to be a trend for the money to move to the newer Japanese classics.

American wannabe 'skateboard pros' woke up?

A thesis around the phenomenon of dudes dropping their 'Hako' want in favour of an R33 GT-R is something I'd like to read. But somehow I'm not sure its the backwards-SUPREME-baseball-cap-wearing kids who are suddenly paying the thick end of 250k USD for such cars at Sothebys.

Not that any of this matters. When we are banned from buying fossil fuels, when half the world is on fire and the other half under water, such artefacts of late 20th century excess will be liabilities rather than any kind of 'investment'.
 

datsfun

Club Member

That was fast ! So perhaps that proves that potential buyers want a KPGC10 that fits the mental picture they have in their heads. Better ride height and wheel selection .

There's no visible softening of prices for KPGC10s in Japan and they are still changing hands privately for high figures, as are all S20-powered models.

Hence why I am struggling to understand why this example remains unsold. I mean it appears to have been finished to a very high standard.

What you see with the DD Classics car is mainly an example of people not knowing what they are looking at (evidenced by this very thread...) and people who have an interest and budget but only rudimentary knowledge on the model, thus being nervous and suspicious as a result.

My suspicion as well. I would have thought the the seller would have invested £5k in a temporary wheels/ suspension combo and improve its external beauty and perhaps attract more buyers...

And still have the option to go back for the purist ( assuming there is someone out there who wants it in current set up)

Not that any of this matters. When we are banned from buying fossil fuels, when half the world is on fire and the other half under water, such artefacts of late 20th century excess will be liabilities rather than any kind of 'investment'.

Agreed. Hence best get these "investments" out and enjoy them while we are allowed to.


I have been asked to appraise the car by people who clearly have no idea what to look for and who, indeed, have never even seen a KPGC10 in the metal. Even the tyre choice has frightened the horses.

Ex F1 driver by any chance ?
 

Rob Gaskin

Treasurer
Staff member
Site Administrator
Jenson's holding out for a "Hackersooker" with proper fisherman's race history and one of those special "left heel" accelerator pedals.
Can anyone explain what 'left heel braking and accelerating' is?

Just trying to imagine how you would put your left heel on the accelerator and where would your right foot be whilst doing it!
 

Robbie J

Club Member
Arģgg tablets

In ref to location
I saw that in the small print, i could drive to brentford its not that far
 
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