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Classic Car News: Authentic Classics Cash In On Low Value Of Sterling

Good news for classic car enthusiasts looking to get a good return on their vintage motor – European markets are offering a "great return" on investments made before 2008, when the value of the euro was just under  €1.50 to the pound. John Glynn, Older Car Editor at Glass's, said "cars that might benefit from such a scenario could include anything from a 1980 Ferrari 308 GTB to an early 90s BMW M3 Cabriolet", according to the Telegraph website.

Car-Salvage.org has reported that the struggling sterling means that "classic car owners are looking to sell vehicles overseas, which will mean buyers are likely to get more money for their motors". John Glynn has said "a car purchased in Europe three years ago for €22,000 (£14,800), and sold today at the same price it was bought for, would bring in £20,000 - a tidy profit for the vendor of £5,200 after three years".

A report by Eurotax Glass's revealed that sellers of good-condition, left-hand drive cars have found that the euro is so strong that it offers us Brits a "great chance to make a killing on a classic". Classic cars are a great investment tool, if you know the market and you enjoy cars, and with a reputation for being valuable – it's nice to see you can still get the same pleasure selling your classic as you did buying it.

It's not just us classic car enthusiasts that benefit from the low value sterling, dealers are also reaping the benefits of the high demand from the euro-zone. The Telegraph website has also reported that "many of the deals are done before cars have even entered showrooms, and some long-standing stock is even catching the eyes of buyers in Europe and the USA".

Like most things there are always drawbacks, in this case the "exchange rate effect", reported by Car-Salvage.org, means the UK may lose some lovely machinery this year to buyers overseas. Of course, it also means there will be an appetite among successful sellers to acquire replacement models, which will stimulate the UK market once again", according to the Telegraph online.

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