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 Post subject: Re: Lower UK Pound value
PostPosted: Fri Jul 08, 2016 2:02 pm 
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Joined: Sun Dec 28, 2008 7:49 am
Posts: 1672
Location: Fairport Beach (in Pickering), ON, CA
europroducts wrote:
Let me provide a little reality check.

If the "British Audio" product in question is made in China, all Chinese factories deal exclusively in US$. The £ just tanked against the US$, therefore, it is going to cost more £'s to buy the US$ required to pay the Chinese factory. Bottom line, the price just went up on those products.

If the "British Audio" product in question is actually made in the UK, it will depend entirely where the manufacturer gets his parts from and what currency he pays for them in. The international piece parts market also deals almost exclusively in US$, or in prices pegged to the US$, so costs will increase for any company that pays with £'s.

I am fully expecting price increases from all of my suppliers.

You can't just look at Forex charts and compare one currency against another to get your answer, you need to know the background story.


Great post!! Unfortunately too many still don't understand that commodities are priced in US$ for who knows how many lifetimes. But one day they''ll peak out from their shell and see there's a whole world out there!!

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Tom

Collecting vintage tube Pilot (Pilotone) HiFi gear.


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 Post subject: Re: Lower UK Pound value
PostPosted: Sun Jul 10, 2016 5:38 pm 
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Joined: Fri Apr 01, 2005 7:15 am
Posts: 4599
Location: Newmarket, ON, CA
... here's a reality check from Noteworthy Audio (announced here on CAM no less) ...

Buy British and Take Advantage Of The Lower British Pound

http://www.canuckaudiomart.com/forum/viewtopic.php?f=20&t=43286


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 Post subject: Re: Lower UK Pound value
PostPosted: Sun Jul 10, 2016 9:56 pm 
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Joined: Thu Sep 17, 2015 10:12 am
Posts: 227
Location: Abbotsford, BC, CA
libor wrote:
anything British should be cheap here because we are the colony and we have the Chinese here!!! Go Canada Go!

If the Canadian dollar is low - which it is now and usually is low - then imports will be pricey including Brit hifi .
Let's face it Canadians will always pay a premium because our $ is low . Everyone should get use to it . Our low dollar will for the most part benefit us in such industries like tourism and supposedly in investment in this country .
Since we have a resource based economy , it does not look to good .


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 Post subject: Re: Lower UK Pound value
PostPosted: Sun Jul 10, 2016 10:00 pm 
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Joined: Wed Apr 06, 2005 10:18 am
Posts: 4427
Location: Surrey , BC, CA
Quote: "Since we have a resource based economy , it does not look to good ."

I would look into this more deeper....


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 Post subject: Re: Lower UK Pound value
PostPosted: Mon Jul 11, 2016 2:49 am 
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Joined: Tue Jul 05, 2005 3:09 pm
Posts: 1239
Location: Sherbrooke, QC, CA
europroducts wrote:
ripblade wrote:
europroducts wrote:
I am fully expecting price increases from all of my suppliers.
Huh? So what you're really saying is that whether the pound goes up or down, we're being jobbed either way?


Not saying that at all. If I receive a new higher export price in £'s, but the new lower exchange rate renders my landed cost to be the same as in previous shipments, then no price increase. It will depend on the longer term exchange rate. Will the £ continue to drop against the C$ or go back to the pre-Brexit rate within a few weeks/months? My example was based on the £ staying at the post-Brexit rate or going even lower. Most analysts are predicting a return to the pre-Brexit rate(s) vs other major currencies in the short to mid term.



Pre-Brexit rate? That is so funny. When?


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 Post subject: Re: Lower UK Pound value
PostPosted: Mon Jul 11, 2016 5:47 am 
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Joined: Fri Feb 15, 2008 7:11 pm
Posts: 1028
Location: Somewhere Way Out West
For any UK product a good % of the cost will reflect costs incurred in pounds not USD and it's not hard to think what those are. Short term don't expect to see the cost of any UK products to change price for some of the reasons cited & the fact distributors & makers just don't want to adjust prices every time the currency dips - the message price sends is as important as the margin these days.


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