The Star Wars market and leaving the EU

So last night Britain excersized it's democratic rights and we are to leave the EU.

Now we have the other thread for discussing the issue so I don't want to fill this one with opinion about the decision.

My thoughts are what will this do to the collectors market going forward?

My first thoughts are seeing the pound nosedive, items brought from overseas will be very expensive. Couple this with the fact that we will get less for items sold globally means that the uk Star Wars market will sink imo.

The other issue to consider is the increase in cost of living and potential recession we have looming could cut people's spare cash. This again could further depress the market, but you would still be competing against overseas purchasers for items who would have more spending power. But would this cause the whole market to take a drop?

What are your thoughts guys?

It may make carded tri logo Yaks cheaper ?

On a more serious note ,I suppose only time will tell, I don't really think anyone knows the real impact it will have on this particular hobby but let's face it I think we have more to worry about at the moment.

Hothrebel said:

It may make carded tri logo Yaks cheaper ?

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Only you can make that happen for me nick

Although buying from abroad will be far more expensive now and possibly in the short term (although I believe currency stability will return in the short to medium term), selling abroad will be far easier and, possibly, more lucrative. After all, if you had advertised an item for £100 yesterday it would have cost a US buyer $145 USD and a Euro buyer 131 Euros. Today the same item, netting you the same price would cost them $135 and 123 Euros respectively. So, your item will sell faster or you can actually increase your GBP ask and it will still cost the foreign buyer the same amount.

In short, if it's going to damage any markets it will be those abroad, not the UK market. Two caveats to that: 1) I don't think the UK market buys enough from abroad to affect prices there and 2) Price in the UK of foreign items could actually increase as it is now that much more expensive to buy them from abroad.

As for a recession, time will tell. This exit is not going to help our financial markets one bit and that's a very real concern. The instability does worry me as who knows what effect it will have on interest rates, inflation and the housing market which seems to prop everything up these days. I have a 5 yr fixed rate mortgage ending in the next 6 months and had been hoping to cut the rate in half and be a few quid a month better off. Now? Who knows.

Scary times indeed, across the board but with regards to the hobby, I pretty much agree 100% with Simon.

Maybe we do have bigger things to worry about but ultimately it's a question about quality of life. If another recession happens lots of people will have to sell up. A lot of people are scared what's going to happen to the economy so are less likely to spend money. Although it seems daft to talk about Star Wars when the Prime Minister has just resigned I think it goes deeper. Collecting is something people do for fun outside the usual stress of working etc and you might find a lot fewer people will be willing to shell out on old toys. Who knows? Wonder if it will effect the production of the films in the UK?

Oil made a nose dive,
Pound made a nose dive
Euro made a nose dive,

so in the end you cant see the change, unless you are a big player and have lots of cash.
I think within a month the balance has been restored. there was also a time before the EU!
You still had the GBP, so that makes it easier.
Probably a lot of regulations which are applied now will be taken over in the new appointments.

If I listen to the politician in Europe it's like the UK declared war on the EU.. but thats more to scare the citizens of the EU.
to scared the rest will follow

The days of buying things tax free from Europe will likely be over within two years. I rarely buy things from America or Australia due to import tax, looks like I'll have to start avoiding EU sales too.

If I sell stuff on eBay, presumably more overseas bidders will be attracted due to what will be a low price to them. That's if the pound stays down - it was always going to nosedive at first. I'd like to back this up by stating that I know even less about economics that most people.

So, a time to sell rather than buy?

Yes well I am certainly glad I don't really buy from the US anymore or Europe :!:
I agree that stability of the Economy will happen sooner rather than later and I don't think the UK SW market will b affected too much!

The drop in the £ should help sales to Europeans and Americans etc at Cel and this nx big Vectis sale what with there being some serious foreign pieces :idea:

Only commenting on the SW market, I can see a low pound will make it easier for you guys to sell abroad, and also more tempting if economy becomes unstable. I already see people selling or freezing their collection spending.

I'm from a country which had a terrible currency after the oil went down. Pound got 50% more expsenive. Only way I could spend was to sell, and use the foreign currency I had on my paypal to buy new items.

For me..this just made buying from the UK so much cheaper.

Americans buying up our vintage :evil: :evil: lol

I have bought several items from the US last year when It was still around 1.55 to the pound, but when it dropped below 1.50 that has dried up. Now I won't be touching anything from over there, at least with changing pounds to dollars. I get a trickle of money from photo stock libraries I have hundreds of photos uploaded to (I was an amateur photographer up until last year). As they are all US based, purchases are made in dollars, and I have the option of having those dollars transferred to my Paypal account, instead of being converted to pounds and losing on the conversion.

Less collectors in the market, have already seen one quitter on echo due to uncertain job risks. Luxuries are the first to go.

Jason

I don't think it's going to make **** all difference mate to be honest. Unless you're buying valuable items from abroad all the time. I only really buy within the UK because of currency fluctuations, expensive postage, import charges and the added risk of loss or damage. I can find what I'm after here most of the time. Only time will tell how this all affects our pockets but inevitably the pound will weaken.

I have been surprised by the number of people from abroad who have asked to join the I C TOYS celebration pre sales page on Facebook in the last 12 hours .

Come one people, as if it's going to make the blindest bit of difference to the vast majority of collectors. Yes a few may fall by the way side but people have lost jobs before and the pound has fluctuated before to no great effect. 12 backs will still cost between £300 and £3000 and loose beaters will still be £2 plus postage and the world WILL keep turning.

Talk about drama and panic infiltrating every aspect of our lives.

Dannywhiteley said:

Come one people, as if it's going to make the blindest bit of difference to the vast majority of collectors. Yes a few may fall by the way side but people have lost jobs before and the pound has fluctuated before to no great effect. 12 backs will still cost between £300 and £3000 and loose beaters will still be £2 plus postage and the world WILL keep turning.

Talk about drama and panic infiltrating every aspect of our lives.

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Amen brother! jobs have been lost in my region with steel plants shutting etc, we were in the eu then and they still lost their jobs, people will continue to do so whether we had stayed or not, I might be the same in a couple of months just have to wait and see, its like Russian roulette, when the bullet lands on you then its your turn!

(edit: because why am I talking politics in a Star Wars forum!!!)