To be honest it was a bit under 5% in late 2011. I am talking about the actual factory price list (FOB Malvern)
We purchased our car direct from the factory and as soon as we had the COC we were able to pay the tax and get the plates and insurance in Italy before even seeing the car. I have to say that, for Italy, it was one thing that worked surprisingly well. We then went to the factory, fitted the plates, and drove home.
When we picked up the car I asked what to do if there were any warranty problems. The response was to take it to Borghi, the importer in Milan. We were told not to worry as he would be "looked after". Certainly when we went there he treated us very well. The first service (no oil change on the first service) was done at no cost to me (no doubt billed to Morgan) and a couple of small things rectified. Since then he has been excellent to deal with. I can only assume that "looked after" meant that he still received a commission of some sort but I have never asked.
If I was buying another Morgan I would most likely still pick it up at the factory but I would order it through Borghi rather than direct from the factory.
Buying from a UK dealer would introduce yet another person into the equation and it would not be something I would consider. Of course if it is a second hand car it really makes no difference where you buy it and your local dealer will get the repair and service work anyway. The only thing you would not get is any local warranty which dealers normally offer (sometimes by law) on second hand cars.