Classic cars are leaving the UK bound for the EU, with European collectors benefiting from the weak pound, an auction house has said.
Coys has reported a “noticeably higher than average sale rate of cars being shipped to European countries”.
At a recent Blenheim auction, a collector arrived from Marseille and bought a Mercedes-Benz 230 SL, a Fiat 500, a Jaguar E-Type and a Ferrari 308.
Meanwhile, a German buyer – new to the classic car market – purchased a Lamborghini Jalpa and a Maserati Merak.
Coys referenced an “auction room bidding war between two Germans that left any English buyers in the dust”.
The Porsche 997 GT3 RS 4.0 (pictured) left the UK bound for Spain, selling for £312,700.
“A unique set of circumstances”
Chris Routledge of Coys said: “The strength of the Euro against Sterling has undoubtedly created a very advantageous buying climate for European classic car collectors, with not only sensibly priced cars but with the current exchange rate being perceived as being at least 25 per cent discounted against European asking prices.
“This is a unique set of circumstances – an alignment of the planets if you like.
“The quality of the stock in the UK is of the highest international standard, European buyers know it and are very keen to get their hands on it, as with current exchange rates, the prices could not be more attractive.
“For UK sellers of classic cars and other collectibles who wish to sell in Sterling to European collectors, the outlook is very strong while these exchange rates continue, and they should consider grabbing hold of this opportunity while they can.
“We live in very interesting times.”