Great value British prices: Catch it while you can

Eyeing up a classic purchase? Britain really is the place to buy, as Keith explains

In a break with tradition, and probably in true US TV style, I've decided to pause for breath and have a little Catch It While You Can refresher. There is a reason, so bear with me. Out in the real world, there's a lot of buzz about Europe at the moment, and whether we should be in or out of the EU - and if we do opt out, whether we'll still have free trade with our continental cousins.

LHD fine if it's sold on in Europe, right?

For those of us who like our older cars with a whiff of the exotic, and who aren't afraid to cross borders in order to buy and sell, it's clear that losing the trade barriers that had been in place for decades may well be a bad idea. Since Christmas, I've reminisced about a lot of very cool cars on PH, but one thing that you can't escape is this - if you're in Britain, pretty much all of those cars are an absolute bargain compared with what they pay for them in, say, Germany.

After a couple of trips to big classic trade shows in Germany during the past couple of months, I've come to the inescapable conclusion that if you're looking to sell any kind of car with a following, you could do much worse than do it over there. But don't worry - you can still come back here and buy your next car through the PH classifieds, taking advantage of our considerably lower prices. And equally, European buyers really should come here shop in the classifieds, and take advantage of our cheaper cars...

26K euros in Germany, didn't make £14K here

Take the Lotus Carlton I previewed in February - it was estimated at £14-16K at H&H's February sale, and in the end it didn't sell, suggesting bidding didn't make it to the lower estimate figure. So, let's say that the natural value of that car is currently around £13K, with £15K possible if the seller's prepared to wait. Without seeing the car first hand, I don't know what state it was in, but let's assume it's a UK condition two car (good, usable, but not perfect). That equates to a German condition three - and in their price guides, such a car would be valued at a cool 26,500 euros, having risen 30 per cent in value in the past 12 months.

A couple of weeks back, I commented on a low-mileage but slightly faded BMW M5 that I'd spotted in Germany for 17,500 euros. That was actually spot on for the German price guides for a condition two car (equal to our condition one - good condition, but not concours). But a similar car popped up in Essen - better presented and polished, and up for, wait for it, 29,900 euros - suggesting that early M5s are quite a way ahead of book over there. And guess what? It sold during the show. What would we pay for the same car here - again in dog knob red? Call it £15,000 with a following wind.

UK E34 values rising but still a relative bargain

It's the same for other favourites of mine, highlighted in PH. The 1989-2000 R129-generation Mercedes-Benz 500SL, which I think is currently stunning value in the UK is laughably cheaper here than in Germany. We're looking at £3,000-4,000 for something very usable, but for the Germans, they book at between 10,200-15,900 euros for condition two-three. And that's taking into account of the 30% drop in values over the past 12 months or so.

There will always be the issue of left- and right-hand drive to consider, so of course, either you don't mind about it, or you stick to cars that are available in LHD only. But it does work the other way - Germans love British classics such as the TVR Griffith, Lotus Esprit and MG RV8 in right-hand drive, so bear that in mind, if you're looking at selling.

Cars that come in LHD-only are ahead, too. Early Lancia Delta Integrales are worth more in Europe (booking at 17,000 euros, compared with, say, £8,000 here for equivalent condition cars), and it it's the same with E30-generation BMW M3s, which are rated at 30,000 euros for good, but not mint examples in Germany.

'Laughably cheaper here'

And currently, as we're all part of one big, happy, European Union, you can sell your car over there, drive it over if you want a final last goodbye, and they can register it there, comfortable in the knowledge they don't have to pay any additional taxes. If only it were that simple buying and selling from Japan or the USA. I don't know whether this will change if we do vote to leave the EU, but all I do know is this - before the single market, the free trade of cars, either way, was a whole lot harder back then than it is now. So let's hope things stay the way they are.

Okay, so it's harder buying and selling across borders, but the potential profits are considerable if you don't mind doing your homework, and have friends on the ground that can do the legwork. It's also worth bearing in mind, that there are plenty of cars that are cheaper over there than here - and if you're brave, and combine selling one into an inflated market, and then buying another from another depressed market, the world is your oyster - and you can turn an average car into another brilliant one. As we speak, I am seeking out Renault 5GT Turbos in Greece and Citroen SMs in Italy...

OP Posts Only

Prev 2 3 Next

OP Posts Only

Author

Discussion

Mermaid

Original Poster

21,492 posts

200 months