High Value and Luxury Assets
Request a callback
“All of those cars were once just a dream in somebody’s head.” Peter Gabriel, Mercy Street
There is a great thrill and pleasure in knowing that only a few thousand of your particular model, crafted by a group of highly-skilled experts, have ever been made.
Cars lovers will appreciate not just the appearance and personality of classic cars but also the nitty gritty aspects of their craftsmanship and maintenance. While not as complex as buying a jet or helicopter, buyers and sellers will understand that these transactions require careful consideration of both legal and business elements. Saracens have experience and knowledge of the luxury car marketplace that, along with our technical expertise, positions us as the firm of choice for clients seeking to deal in these assets.
Self-professed car enthusiasts, Saracens provides services to help purchasers control the cost of ownership as well as have comfort that they can drive their vehicles without concerns about its condition.
For buyers, Saracens can assist with the following:
– Vehicle due diligence that includes:
– Researching vehicle history and provenance
– Inspecting vehicle inventories
– Liaising with specialists and arranging inspection for certification of vehicles
– Assessing vehicle condition and maintenance
– Negotiating purchase contracts tailored to each specific client and vehicle to ensure that all relevant considerations are addressed
– Advising you on any relevant taxes or exemptions
– Importation and / or exportation licences
For sellers, Saracens’ services include:
– Liaising with the appropriate specialists to arrange secure storage and transportation of your vehicle
– Arranging the entry or display of vehicles at auction houses, promotional events and prestigious meetings
– Negotiating the sale contract to ensure that the seller is able to realise their fair asset value
– Advising you in respect of the tax implications of the sale
To talk to us about selling or purchasing a luxury or classic car, phone our London office on +44 (0) 20 3588 3500 to talk directly to one of our lawyers. Alternatively, you can request a call back and we will be in touch at a time convenient to you.
I had a dispute with my insurers as they were refusing to cover me for a claim. I was really…
Mr W Ahmed Senior Manager at Arab Banking Corporation Plc
See All Testimonals
The Art Paris Art Fair, which kicks off at the end of March, is one of the leading spring events in the art world. With around 145 exhibitions from over 20 countries, representing 2,200 artists and held in the Grand Palais, the event attracts an array of fans, including wealthy individuals with a refined knowledge of art from all over the world. Art fairs are one way to pick up a desirable piece of work directly from the artist. The other primary driver of art sales is galleries. High-end artwork, the kind that passes from one private collector to another, is mostly sold at auctions. With that said, as the […]Read more
For asset-rich but cash-strapped individuals, luxury asset lending is growing. Whether the collateral is a watch, yacht, fine art, a luxury handbag, or classic car, many high-net-worth individuals are using luxury assets as security. Luxury asset lending is not a new phenomenon – in fact, much has been written about the intertwined history of banking and Renaissance art. Some of the greatest patrons of art, the Medici family, were among the architects of the modern economy. Later, the Dutch Golden Age saw Rembrandt and Jan Leivens pledging their stunning artworks as collateral to Herman Becker, a Baltic merchant and one of the first people in history to lend against fine […]Read more
Someone once quipped that buying a boat is the equivalent of standing in a shower, ripping up hundred-pound notes. The witty remark was, of course, referring to a small jet boat – anyone who has ever owned a yacht knows that in all likelihood a zero (or three) ought to be added to the notes referred to in the gag. There is no doubt that buying and owning a yacht involves a significant capital injection. However, there are ways you can operate your yacht as a business, enabling you to plan for tax and minimise legal wrangling with foreign jurisdictions. One of the ways a yacht can be turned into […]Read more