Moving money around Europe

[edb49]

Been trying to get my head around this and thought the PH collective could help.

I've got a Juno CN race car that I'm selling, and a chap from France wants to buy it. It's probably worth £25-30k.

If it was a UK buyer, nice and simple, they give me cash which gets paid straight into my bank and they take the car away same day.

How can this work for a European buyer though? The chat wants to pay in Euros, and there are a few different issues with this:
- If he gets Sterling out of his bank, he will probably have a nasty exchange rate
- If the car isn't as I describe, he'll have to pay the exchange rate twice
- I don't 'know' euros so I probably couldn't recognise good forgeries
- If I'm pay euros into my bank, I'll get done with a nasty exchange rate

Any advice on how best to do this transaction for all involved?

[edb49]

davepoth said:

If he wants to pay in Euros, find out what rate your bank will apply, and covert the price at that rate.

That was my first thought, but I would imagine (I use Barclays) it will be a 'tourist rate' which on the amount of money we're talking about will be crazy.

[edb49]

Yep, I know it's possible to do an international wire transfer but it's not really ideal. I know I wouldn't want to stay the night picking up a car.

[edb49]

SirSamuelOfBuca said:

Hmmm can't he just go bank and say can you send 25000 pounds to xxx.

When I transfer money to a usd account I just say send 3000 usd? Or am I missing something

Doesn't have the immediacy of 'look at car, agree deal'. Also, he would need to be in two places at once - in his bank in France to do the transfer, and also over here looking at the car.

[edb49]

rohrl said:

If the buyer is coming from abroad to look at a car costing £25K then another 40-odd quid on a Travelodge isn't going to be a big deal.

This sort of stuff is the buyer's problem anyway. It's up to him to supply you with the money if he wants the car, not for you to worry about how he does it.

If someone has £25k to spend on a race car, plus all the money and time to run it - they probably don't want to spend the night in another country unnecessarily, Travelodge or Hilton.

Just trying to be helpful in getting a solution to them, ultimately I will say "it's the Barclays exchange rate, sorry"