FOR­EIGN BUY­ERS SWOOP TO BUY BRI­TISH CLAS­SICS

We re­veal the cars that over­seas in­vestors are cur­rently chas­ing – and how it’ll af­fect prices

Classic Car Weekly (UK) - - Front Page -

Buy­ers from abroad are cash­ing in on the weak pound by snap­ping up clas­sics for sale here in Bri­tain – and UK auc­tion houses and deal­ers are keen to make the most of the busi­ness op­por­tu­nity.

Auc­tion house H&H says it has no­ticed a sig­nif­i­cant up­swing in over­seas buy­ers, par­tic­u­larly at its lat­est Dux­ford sale. ‘The cur­rent sit­u­a­tion at­tracts con­ti­nen­tal Euro­pean buy­ers, par­tic­u­larly, as a weak pound and rel­a­tively easy ex­port-im­port sit­u­a­tion with a tar­iff-free Euro­pean mar­ket,’ says man­ag­ing di­rec­tor Do­minic Lyncker.

He says it's pre­dom­i­nantly Bri­tish clas­sics which are prov­ing most pop­u­lar with over­seas in­vestors, with buy­ers from con­ti­nen­tal Europe and Ja­pan the most likely to take ad­van­tage of Ster­ling's low cur­rent value.

The re­sul­tant surge in de­mand from over­seas buy­ers is likely to push up prices in the short term, sub­ject to how Ster­ling per­forms.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.