What a weak GBP means to you – let me briefly tell you what a weak British pound means for all our customers outside the UK right now.
AN AMERICAN STORY:
I used to travel to the US extensively in the early 2000’s, visiting auction houses and reputable dealers. In 2005, the exchange rate was £1.00 to $2.00, meaning a decent signed vinyl LP valued at $500 would cost me £250. Happy days!
Ten years ago I was still making my regular trips to New York, Las Vegas and Palm Springs. The exchange rate was around £1.00 to $1.70. So that rare vinyl LP would cost me £294, so still not bad.
Now-a-days, £1.00 buys me $1.20.
Blame Brexit. Blame the old British Prime Minister.
Blame the new British Prime Minister.
Either way, that vinyl LP mentioned above, were I to purchase it today, would cost me £416. It’s the same LP, but over the past 14 years I would have to pay £166 more for the same item. That’s a rise in my costs of 60%!
Looking at that from an American customers point of view, if you had visited us in 2005, a £250 genuinely hand signed vinyl LP would have cost you $500.
In 2009, that same LP would have cost you $425.
Today, that £250 LP could be yours for $300. $200 “cheaper” – a 60% “discount!”
I wish I had bought more back in the early 2000’s when the exchange rate favored the British. Perhaps now should be the time our American customers consider ordering from Presley Collectibles? All our stock is priced in GBP, meaning there has never been a better time to make “savings” of 60%.
IT’S A SIMILAR STORY FOR OUR EUROPEAN CUSTOMERS (IN FACT EVERYWHERE OUTSIDE OF THE UK!):
When the Euro was first launched across 11 members states on January 1st 1999, the exchange rate was 1:1 (£1.00 would buy 1 euro).
If you live in the euro zone and made a purchase of a £500 rare vinyl LP from us, in 1999 that would have set you back 500 euro.
The euro reached 1:1.18 earlier this year, and given the uncertainty with regards Brexit, it is likely to rise even higher. So that £500 vinyl LP at the moment would set you back just 425 euro – a “saving” of 75 euro.
Whilst past performance is no guarantee to the future, it is pretty clear GBP is struggling to hold it’s value in the world currency markets. Brexit definitely isn’t giving the world markets any confidence.
All Presley Collectibles autographs, collectibles and memorabilia are priced in GBP. I’d say now would be a pretty good time to visit us again?
What a weak GBP means to you – in 2005, these Madonna hand signed vinyl LPs would have cost customers in the US $750 each. Today, because of the weak £GBP, the same autographed items cost $450 – $300 less!
Want to save even more? Why not become a member and save an additional 10% on all purchases: