ClearFX
Posted by ClearFX on 25/07/2016
The UK voted to leave the EU on the 23 rd June, now that the dust has settled, what does it mean now? We have seen that Brexit has had an incredible impact on currency markets, bringing an exceptional level of volatility, and a rapid depreciation for the Great British Pound (GBP). The fallout of Brexit has been described as a once in lifetime event, not only rattling markets, but reshaping them in the short-term.
The weakening of the GBP against key currency corridors such as USD, EUR and AUD means that we have seen a surge in demand for luxury items in the UK from overseas buyers. Overseas customers are benefiting from significant discounts against UK purchases thanks to a 30 year low between GBP and USD, a 3 year low against EUR and AUD meaning you will get more bang for your buck!
*For example a £400K Classic Car on the 11 th June would translate to $570K USD- today that same car would be around $525k USD based on the market rate towards the end of July – that’s $45k cheaper than back in June.
*A piece of art priced at £55k on 11 th June would translate into €75k EUR – today that same piece of art would cost you €66k – €9K cheaper than before Brexit.
Antiques.co.uk have teamed up with leading foreign exchange specialist ClearFX who provide fantastic exchange rates beating the banks and reducing the cost of making and receiving international payments.
ClearFX offer a better experience all round when buying and selling antiques overseas; they do this by quoting buyers a bank beating exchange rate upfront, meaning they know the cost of your antique right from the start giving them complete transparency. ClearFX won’t charge your buyer a fee for sending the payment to you, and because of their unique network of worldwide bank accounts, the usual international receiving charge will be greatly reduced or in most cases eliminated, when you receive their payment.
ClearFX operate 24 hours a day 7 days a week, and their friendly staff are on call to help with payments of all sizes from £100 upwards. Registering with them is free and comes with no obligation.
ClearFX, Making global payments easy.
Based on comparing market rates taken prior to Brexit and towards the end of July 2016