Nissan Skyline R34: the last real Skyline GT-R (and the price tag proves it)
The R34 was the final Skyline to wear the GT-R badge before Nissan split the GT-R into its own model, and the market has priced that distinction into every single example. Built from 1999 to 2002 with only 11,578 GT-Rs produced, you're looking at six-figure money for a clean one — and that's before anyone mentions the V-Spec, V-Spec II, Nur, or M-Spec editions that push into territory most people can't reach. Under the hood sits the same RB26DETT twin-turbo inline-six as the R32 and R33: 280hp rated, roughly 330hp real, with twin ceramic turbos and an iron block that treats four-digit horsepower numbers like a reasonable suggestion. The ATTESA E-TS Pro AWD system is more advanced than the earlier generations, which is nice for grip driving and irrelevant if you're converting to RWD anyway.
What the RB26 does in this chassis
The basics haven't changed from the R32 and R33 — it's the same engine family, and the same tuning path applies. Basic modifications (turbo upgrade, fuel system, standalone ECU) put you past 500hp without stressing the internals. The iron block handles boost levels that would crack an aluminum block in half. Builds pushing 1,000+ horsepower exist and run full event days. The twin ceramic turbos respond quickly for their era, though most serious drift builds replace them anyway. What the R34 adds is refinement in the chassis. The suspension geometry is more developed, the electronics are smarter (for better or worse — some of that gets stripped out in drift builds), and the overall rigidity is the best of any Skyline generation.
The elephant in the room
Paul Walker drove a Bayside Blue R34 GT-R in 2 Fast 2 Furious, and that single movie did more to inflate R34 prices than any racing result ever could. The film turned the car from a Japanese performance machine into a global object of desire, and the demand hasn't cooled since. Clean Bayside Blue examples command a premium that has nothing to do with how the car drives and everything to do with a poster on someone's bedroom wall in 2003. This is the reality of R34 ownership: you're paying for cultural weight as much as engineering. Initial D didn't help either (or helped too much, depending on your bank account).
Should you actually drift one?
Here's the honest question. The R34 GT-R is a fantastic platform — stiff chassis, the best version of Nissan's RB26, deep aftermarket support. But at current prices, you could buy an R33 GTS-t, build it to 600hp, set up the suspension properly, buy a trailer, and still have money left over. The drift community respects the R34, but it also respects not lighting six figures on fire every time you clip a wall. If you have the budget and you want the car that sits at the top of the Skyline line, the R34 earns it. If you want to actually drift without your insurance agent calling you in a panic, the R32 GTS-t or R33 GTS-t will get you sideways for a fraction of the cost. The R34 is the one you want. Whether it's the one you need is a different conversation.