FOREIGN BUYERS SWOOP TO BUY BRITISH CLASSICS
We reveal the cars that overseas investors are currently chasing – and how it’ll affect prices
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.