Classic car sellers win big in EU

17 March 2010

The declining value of the pound has seen classic car enthusiasts make hay by selling their left-hand drive vehicles on the continent, Glass's Guide has reported.

The fact that European collectors have long been willing to pay more for good-quality classic vehicles has seen prices increase, the magazine added.

"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," said John Glynn, Older Car Editor at Glass's.

"Cars that might benefit from such a scenario could include anything from a 1980 Ferrari 308 GTB to an early '90s BMW M3 Cabriolet [E30 model].

"With many classic car values having risen by around six per cent year-on-year since 2007, profits might be even higher. The same ?22,000 car could now be worth about ?26,000 or £23,800, which would equate to a £9,000 return on investment."

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