Will UK auction prices come down now we have left the EU?

[lincoln imp]

I was a little surprised recently when my £134 euro auction purchases ballooned to £257 once all the taxes were put on, admittedly there was a heavy postage charge but the other costs surprised me.

I assume this works both ways and that EU members buying from UK auctions will also be hit with taxes so if our EU cousins take the view not to purchase from the UK, surely our auctions will come down in price as there will be nowhere near the amount of bidders as before?

Thoughts?
_________________
Pour me a glass please.

[davidbe]

It will have some impact no doubt, but that may just mean more bottles continue to go to other destinations outside of the EU (e.g. Americas/Asia).

I'd wager most Japanese and US whiskies are heading back to their respective countries of origin, so I doubt we'll see a drop there.

[TheWM]

This is a good point I’ve not considered before.

Does anyone know the size of the European market (buyers) vs UK buyers on the auction sites?

[DillyT]

I read in a forum that someone in Holland won about £200 worth of listings and 4 days later they got an email from DHL telling them that the import tax was £210 and then a £55 fee**

** The numbers are approximate but they are about right.

So I was thinking the same thing about the auctions in the UK..

[blackcipher]

Can also see a couple of the smaller auction sites fading away

[lowlander]

[davidbe]

Yeah everyone's just going to try to stop earning some cash all of a sudden!

[Drame Blanche]

I think it depends, like someone else mentioned, on what's the % of non-UK auction purchases. And even more so EU vs US vs Asia.

Hopefully whisky prices will come down all across the board, not just in auctions. Whilst it's fair to say EU purchases of mid-high tier whiskies will lower considerably (effect of both a demand and offer decrease), it remains to be seen how the Asian markets react, as they can totally just absorb the volume of business EU will lose.

[TheWM]

I was just reading this week how the Aussie wine market has shut down to China which made something like 90% of their sales crash from November due to a tax rise. They have simply shifted the bulk of sales to the UK which appears to have worked so far.

[TheWM]

I was just reading this week how the Aussie wine market has shut down to China which made something like 90% of their sales crash from November due to a tax rise. They have simply shifted the bulk of sales to the UK which appears to have worked so far.

[Latic]

Whisky Auctioneer to start an EU office.

https://whiskyauctioneer.com/news/new-service-announcement-sell-and-buy-your-bottles-our-eu-office?utm_source=facebook&utm_medium=social&utm_campaign=february21euservice&utm_content=news&fbclid=IwAR2jHxzTq9zRIObCglpV6KyE-A1uQ3-rW34Qv8Nzkkvcv6immsNdVYezcEo

[davidbe]

[soderd]

A couple of auctions must have been ended since brexit right? has anyone ben following the prices?

IM sure there will be a workaround pretty soon.