For his latest column, we asked Max for his take on Brexit and what it might mean for the classic car world. We've already outlined what it means for your insurance here and Max's insight into the topic is very interesting.
Brexit certainly won't help the classic car industry, but it's a fact of life and everyone will just get on with it. It simply means that, depending on where you're buying a car, there may be more admin to do and tax to pay.
If you're based in Germany and you're buying a car in France, Brexit won't make any difference to you. UK-based buyers will have to think twice, however, because buying a car from Germany means they'll have to pay import tax. That's as far as we understand – the rules and regulations are still fresh off the press and I think they'll evolve a little as time goes on.
In general, Brexit is not going to shift the needle for Ferrari 250 GTOs and California Spiders, but modern collectable cars with UK taxes paid may feel the pinch a little more as the European market is going to be far less interested in them. That said, if there's a smaller pool to buy from, values shouldn't change drastically.
Now more than ever, having a reputable and reliable dealer on your side is a real advantage for top-tier collectors. Having someone you trust and who can guide you through the buying or selling process is invaluable – if they're good, they'll know the market, where the good cars are located and who the buyers and sellers are. They'll be able to find the right car to meet your expectations and in your price bracket. And if there's a problem, they'll know how or who to ask to help you.
Is it going to be more expensive? Perhaps. But I guarantee in the long run it'll pay dividends. That's because you've got someone on your side, conducting extensive market analysis in order to advise you on the latest trends and changes, undertaking exhaustive research to vet cars' history and find the very, very best examples of the breed, and handle logistic arrangements. All of the above is even more applicable now given the new Brexit regulations we're currently getting our heads around.
It's just like getting a surveyor to come and look at the house you're going to buy, so they can tell you if it's going to fall down or not. It's important to note that these relationships take time to build and sustain. You don't just walk into a nightclub and ask for the very best table. But if you want the best, you need to go to the best. We look after our very best clients and provide them with the best service.
As for 2021, amid the pandemic, Brexit and Mr. Biden taking office, nobody really knows what's going to happen moving forward, so we'll just keep calm and carry on!
More excellent insight from Max and we thank him for taking the time to share his insight once again. The UK Girardo & Co team are pictured at the company's new Oxfordshire base – you can follow them on Facebook and Instagram. Max will join us again soon to talk monsters!