Brexit perfect storm for classic car sellers
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Chaos on both sides of the Atlantic will soften values
While the controversy surrounding the upcoming USA Presidential election and the election of Republican nominee Donald Trump softened classic car values in the USA, owners and would-be investors could take some comfort in the fact that Europe and the UK markets were holding up well. No more, thanks to ‘Brexit’.
The political confusion in Europe over Brexit – the vote in the UK to withdraw from the EU - means a lot of people will be snapping their wallets shut until they see what happens.
That’s potentially good news for buyers, particularly for Aussies who have seen our dollar plummet against the pound (and greenback) and Brit prices head north.
It may take a little while for the effect to kick in, but if you’ve had a hankering to get something out of the UK or the States, it’s well worth keeping an eye on those markets.
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