Overseas supercar buyers bag Brexit bargains as pound drops

The dramatic post-Brexit fall in the value of the pound against foreign currencies has brought a deluge of supercar buyers from overseas, according to independent luxury automobile specialist Romans International.
The Surrey-based dealer said it has seen overseas enquiries rise by more than 20 per cent since the Brexit vote. The sharp increase came as the pound plummeted to a 31-year low against the dollar in January, meaning foreign buyers now get more for their money.
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This has seen some of Romans’ most exclusive stock – including a Porsche 918 Spyder, McLaren P1 and Bugatti Veyron – all end up overseas. demand is especially strong for left-hand-drive hypercars, as VAT-qualifying models can be sold outside the EU tax free.
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“Buyers of cars like this tend to be shrewd collectors or investors,” said Paul Jaconelli, owner of Romans International.
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In recent years, there has been a substantial increase of supercars imported into Britain, but since Brexit, it’s reversed. European buyers have seen even greater gains in their spending power, with a Euro buying around 20 per cent more in Britain than it did a year ago.
That means for a Ferrari Enzo, currently on Romans’ books at £1.35m, it’s a saving of £270,000 for European buyers – enough to buy a Lamborghini Aventador LP700-4.
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“Blue-chip supercars are seen as a safe investment,” said Jaconelli. “Britain is offering them at a 20 per cent discount – that’s an irresistible offer to many foreign buyers.”
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