The price of the king’s coronation robe — What house could you buy?
Ring out the bells, coronation day is almost upon us, and what better way to celebrate a 74-year-old man finally getting his first job than with a multimillion-pound celebration stretching across three days?
Whilst the rest of the country is making the best of a cost-of-living crisis, our ever loving soon to be King has graciously considered our struggles and ordered a ‘slimmed down coronation’ to reflect on the current climate.
Exactly how much this slimmed down coronation will cost is a mystery to the public, despite our taxes footing the bill for it all. However, if history is anything to go by, we can expect great things.
The late Queen Elizabeths coronation in 1953 cost £912,000, the modern-day equivalent of £20.5m. King Charles’s grandfather George VI’s coronation cost £454,000 in 1937, a humble £24.8 million today.
Whilst the overall cost remains unknown, thanks to the power of the internet we have been able to make some rough comparisons.
This modernisation of the coronation has gotten us thinking, maybe they’re not so unlike us after all. In a bid to bridge the gap between our multi billionaire figure heads and the average joe, what could the money spent actually mean?
In this article we will be covering the historical significance of the Robe of British Peerage, the value of the King’s royal garments and what house you could buy for the price of the King’s coronation robe.
The history and value of the king's coronation robe
To kick off our price comparison we will be valuing the Kings coronation robe. As anyone who has ever been to a coronation can tell you, it truly is a staple of the event. Being the waste not want not man that he is, Charlie has decided to reuse his grandfather’s coronation robes. Unfortunately, there is very little information available out there of the cost, but they are being conserved by the Royal School of Needlework and the lining and lace is being conserved by Ede and Ravenscroft.
However, the cost of the late Queen’s Robe of British Peerage cost £1,250, which in today’s currency is roughly £37,100, so it is fair to assume that King Charles’s robes will cost around the same.
The robes are worn as a sign of nobility and robes are differentiated by features identifying their rank. The robe that Charles will be wearing is a cloak of crimson velvet that extends to the feet with a trail behind, very glamorous.
I know exactly what you are asking yourself, what about the miniver pure collar? No coronation robe would be complete without the miniver pure cloak, and our majesties will be no different.
The robe that our late queen wore for her own coronation was very similar, however hers came with a crimson velvet kirtle, lined with miniver, and is attached at the shoulder.
The cost of the king's coronation robe
As we have already mentioned, for the very reasonable price of £37,100, and a little help from the Royal School of Needlework and Ede and Ravenscroft, you too could have your very own coronation robes.
However, in the grand scheme of things, £37,100 is very reasonable for a cloak of velvet to be worn for 30 minutes. It is one small part of the day’s events, but it does beg the question, if the robe alone costs £37,100, how much would a grander part of the spectacle cost?
Charles and Camilla will be travelling in style across London in the Diamond Jubilee Coach which Charles hand picked himself.
Once again, not much is known about the cost, as the Firm is keeping the price of anything used in the Coronation under wraps, least we find out how much we will be paying.
Thankfully, there are plenty of carriages to pick from. The Golden State Coach is a particular favourite with the family, it has been used as a centrepiece in British coronations for the last 200 years.
Crafted from giltwood, dipped in a thin layer of gold leaf and lined with velvet and satin, your heart has to break to hear that it is ‘uncomfortable’ to ride in, possibly part of the reason Charles has forfeited it for his do.
The cost of a house compared to the Kings coronation robe
With the average cost of a house in the UK costing £290,000, you would in theory be able to use the cost of the king’s coronation robe to put down a 10% deposit on a £370,000 house. Not bad right?
But what kind of house could Charlie buy if he decided to pawn the coronation robes?
In theory Charles could have his pick off the country, but if we limit him down to his sole deposit of £37,100, he will have to do what he does best by putting on a brave face and scale back a little.
Below is a breakdown of the cost of housing across 5 UK cities:
According to data from Rightmove, the average cost a property in Leeds in 2022, was £271,367.
The most popular property type sold in Leeds during this time were semi-detached properties, which sold for an average price of £264,676. So, Charles could swap life in Buckingham palace for a comfortable stay in a semi-detached Leeds property. It would probably be more palatable for him than a ride in the Golden State Coach.
If he was fancying something a little different, then Charles could treat himself to a mortgaged terraced property, selling for an average price of £197,583. But without dipping into the Golden State Coach money, he would not be able to afford a mortgage on a detached property in Leeds, as these sell for an average of £509,313.
If Charles fancied himself a trip up north, he would struggle to find a better place to live than Manchester. Hailed as the gateway to the north, in Manchester, Charles could have his pick of property, with the average house costing an average of £283,355.
Once again, the most popular property type sold in Manchester were semi-detached properties, which sold for an average of £318,608. This means Charles could get himself a mortgaged property in the form of either a terraced property (£235,600) or even a flat (£195,651).
As such an avid fan of the outdoors, Sheffield may be the site of Charlies next pad. An exciting mix of country life and city living, Sheffield has the potential to be the perfect fit for our green king.
With an average property price of £232,721 in 2022, Charles can have his pick of mortgaged property. Semidetached properties were the most common house type sold, so Charles could be spending his coronation weekend moving into a new 3-bedroom semi-detached in Kellam Island if he plays his cards right, as they sold for an average of £221,285. He could also treat himself to a terraced property if he found the right one, as they sold for an average of £184,239.
However, once again, if Charles fancied life in a detached property, he would only be able to do so by dipping into the Golden State Coach fund.
If Charles decided he wanted a change from London life, he could swap life in London for a holiday home in Birmingham.
Charles would be able to buy most types of property in Birmingham without dipping into the carriage fund, as a semi-detached property sold for an average of £272,912, terraced properties sold for an average of £214,113, and flats fetching £156,187.
If Charles and Camilla fancied a change of scenery altogether, they could up stick and move to Glasgow, where the average price of property was £205,845 over 2022. They would once again have their pick when it comes to flats, semi-detached, detached, and terraced properties.
What house could you buy for the price of the king's coronation carriage?
If Charlie ever decided to rid himself of that uncomfortable golden nightmare, he would be able to make himself much more at home in a much fancier pad. With the carriage estimated to cost a trifling £3.5 million, the world is his oyster.
Below we have lined up some more potential cribs for Charles, based on his carriage budget.
If Charles wanted to stay put in the city he grew up and old in, then he would have no problem with the staggering average house price of £723,235. Whilst he would not be able to afford anything near the properties he is used to, he will still be able to afford a very luxurious new house, whether that’s in the form of a flat (£535,134), terraced property (£850,115), or a semi-detached property (£921,279), however, with his coronation robe fund, Charles would be without hope.
If Charles wanted to use his carriage fund to live it large on the toon, he would be able to do so with ease. His coronation robe deposit would cover him for a mortgaged property in the form of a flat, ( £124,935) terraced property(£186,726), or semi-detached property(£207,769), and the same goes for his golden carriage fund.
The average price of a house in Newcastle in 2022, was £208,705, so Charles would once again be spoiled for choice when deciding where to live with his 3.5 million budget.
Another Scottish getaway option for the King and Queen Consort would be Edinburgh. With house prices settling on an average price of £332,522 over 2022, Charles and Camilla would be able to have the cream of the crop when it comes to Scottish property.
If Charles was looking at a more coastal housing destination, then he would have to look no further than Portsmouth. With the average property price in Portsmouth reaching £293,326 over the last year, Charles would be able to have his pick of sea front properties.
The most popular property types sold were terraced properties, reaching an average price of £300,683. Flats sold for an average price of £192,061, and semi-detached properties sold for £412,401. With their humble £3.5 million, Charles will be stuck for choice.
If Charles decided to take a ferry cross the Mersey, they would be able to do so with both their coronation robe budget as well as their golden carriage budget.
The average price of a property in Liverpool City Centre in 2022 was £169,531, meaning they would be able to have their choice of properties. With their £3.5 million budget, the King and Queen Consort could afford to purchase a flat (£166,496), terraced property (£190,375), and semi-detached property (£153,268), without batting an eyelid.
Property manager, Mat McCorry, explained why we decided to take a deeper look into the cost of the coronation. "The cost of living crisis is hitting everyone in the country, including the housing market as we've seen things over the past few months slow down due to increasing mortgage rates and tighter spending. It didn't feel right to us that in times like this, on the verge of an economic crisis, so much money is going to be spent on such an extravagant ceremony, it just doesn't sit right. We decide of the back of this to take a deeper look into exactly how much this is going to the cost the tax payer, and what the money could be better spent on."
So, there we have it. For the very reasonable price of £37,000, you can have a house deposit in Leeds, Sheffield, Manchester, Glasgow and Birmingham, or an overpriced dressing gown you wear once for half an hour and then never again. I am sure the glory and splendour of the event will not be lost on those who just this winter had to make the tough choice of eating or heating their homes.
With food bank usages at an all-time high, bills skyrocketing with every day that passes and the cost-of-living ravaging everything in sight, there really has been no better time for us to foot the bill for a multimillion-pound ceremony for one of the richest families in the world.
Although there is still no exact figure, early reports seem to suggest the coronation could cost as much as £100 million, a very tasteful figure considering the current climate.
So, lets raise a glass for our new figure head, a man who has never done an honest day’s work in his life, happily spending millions of taxpayers pounds and then having the nerve to tell us its scaled back.
Nevermind the rest of us, God save the king.
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