Importing Luxury Goods from Abroad
Thinking about importing goods from aboard? Whether you’re buying a yacht, car or any other high value product from abroad, we can help you save time and money when making payments for luxury items from overseas.
Importing goods from overseas can mean that a large sum of your money is exposed to the ever-changing currency rates. This means you can’t be certain how much the import will cost you, especially when the final payment isn’t required for weeks or even months. How can you guarantee that unfavourable exchange rates won’t cause the price of your luxury good to increase in the meantime?
Managing currency market risk made easy
Unfavourable currency market movements can cause the cost importing your goods from abroad to drift out of reach. We can help keep it on course by helping you to lock in an exchange rate when the market heads in the right direction. This gives you the security of knowing exactly how much it will cost when the time eventually comes to pay, helping you to forecast your international payments so you can ensure you have the right funds at the right time.
How we helped a client keep their luxury yacht purchase on course
Johnathan was in the process of buying a luxury yacht from a manufacturer in Italy. Having agreed to make the purchase, he had to wait for it to be built before completing the deal. Johnathan was concerned that the GBP/EUR exchange rate would move against him during the 6 months he had to wait before completing his payment, which would increase how much he had to pay for his yacht.
We assigned Johnathon a personal currency specialist who helped him to prevent the money he had put aside for the yacht from shifting in value. By using a Forward Contract, our currency specialists were able to secure Johnathan a favourable rate for when he was due to pay the yacht manufacturer.
The rate we fixed for Johnathan proved invaluable after the pound decreased in value against the euro just before he was due to make his final payment. This approach meant that Johnathan was able to protect the price of his luxury yacht, saving him thousands of pounds by making his payment using a pre-fixed exchange rate compared to that day’s unfavourable rate.
get started or find out more
With RationalFX, you can send money to over 50 currencies to more than 170 countries worldwide. We’ve helped over 26,000 individuals to make the most of their international payments, saving them time and money.
Interested in working with us? Speak to one of our currency specialists on +44 (0) 20 7220 8167, open an account or request a quote and one of our team will be in contact with you shortly.