What a weak GBP means to you
Miscellaneous Articles

What a Weak GBP Means For You

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, especially those in the USA, 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 $1.04 (as of 01/10/2022).

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 £480. It’s the same LP, but over the past 14 years I would have to pay £230 more for the same item. That’s a rise in my costs of 92%!

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 $260. $240 “cheaper” – a 92% “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 92%.

In Conclusion:

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. The new UK governments financial package of “support” 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 pieces of memorabilia would have cost customers in the US between $710 and $943 each. Today, because of the weak £GBP, the same autographed items cost between $369 and $490!