Buying from overseas
Discussion
I have the opportunity of buying a high end watch from America (£6500) which is about £800 cheaper than the best price i can get in the UK. As I'm going over to America i can collect the watch and not pay any duty. The problem i have is will the watch be classed as an illegal watch as the duty has not been paid. As there is only £800 difference would i be better off buying the same model in the UK.
I'm just thinking ahead when and if i go to trade it in.
I'm just thinking ahead when and if i go to trade it in.
filaborg said:
I have the opportunity of buying a high end watch from America (£6500) which is about £800 cheaper than the best price i can get in the UK. As I'm going over to America i can collect the watch and not pay any duty. The problem i have is will the watch be classed as an illegal watch as the duty has not been paid. As there is only £800 difference would i be better off buying the same model in the UK.
I'm just thinking ahead when and if i go to trade it in.
I cant see anyone will give a shit when you trade it in - its not like importing a car. The only problem you'll have is if you get caught by customs - 22% of £6500 is more than the saving!I'm just thinking ahead when and if i go to trade it in.
What will you do with the boxes? Bin them and it will devalue the watch, put them in your luggage or post them back and risk getting stung for duty.
filaborg said:
probably send them back by post with no value or a very low insurance.
Yep, thats what Id do - AlexKP on here did say that customs were wise to this though and charged through the roof for empty watch boxes! Not sure how likely this is though.Have you approached UK jewellers and asked about discounts? Mappin & Webb usually do me 15-20% if I ask nicely.
I bought my last watch in the US and saved circa £700 on the price. The dealer I bought it from send the box and paperwork back via the normal post and I wore it thru customs.
If and when I come to spend more than a couple of grand on a watch, I'll do the same process again. That saving paid for my holiday, and I got the watch I was going to purchase as well.
Danny
If and when I come to spend more than a couple of grand on a watch, I'll do the same process again. That saving paid for my holiday, and I got the watch I was going to purchase as well.
Danny
Maxf said:
filaborg said:
probably send them back by post with no value or a very low insurance.
Yep, thats what Id do - AlexKP on here did say that customs were wise to this though and charged through the roof for empty watch boxes! Not sure how likely this is though.Have you approached UK jewellers and asked about discounts? Mappin & Webb usually do me 15-20% if I ask nicely.
Have punted about for UK discount but our cousin's seem to come out on top.
Unless second hand, i've always bought watches abroad. I just wear the watch and put the box in my case. Keep the papers somewhere else like your hand luggage or partners luggage. The papers are easy to hide and an empty box could easily be for storing the watch in. You could even put something else in the box and pretend you use the box for another purpose.
If you're worried you could post the papers to your home.
I've never had a problem.
If you're worried you could post the papers to your home.
I've never had a problem.
Edited by stovey on Saturday 2nd June 19:22
filaborg said:
I have the opportunity of buying a high end watch from America (£6500) which is about £800 cheaper than the best price i can get in the UK. As I'm going over to America i can collect the watch and not pay any duty. The problem i have is will the watch be classed as an illegal watch as the duty has not been paid. As there is only £800 difference would i be better off buying the same model in the UK.
I'm just thinking ahead when and if i go to trade it in.
Which watch are you after? I'm just thinking ahead when and if i go to trade it in.
Dominic H said:
filaborg said:
I have the opportunity of buying a high end watch from America (£6500) which is about £800 cheaper than the best price i can get in the UK. As I'm going over to America i can collect the watch and not pay any duty. The problem i have is will the watch be classed as an illegal watch as the duty has not been paid. As there is only £800 difference would i be better off buying the same model in the UK.
I'm just thinking ahead when and if i go to trade it in.
Which watch are you after? I'm just thinking ahead when and if i go to trade it in.
filaborg said:
Dominic H said:
filaborg said:
I have the opportunity of buying a high end watch from America (£6500) which is about £800 cheaper than the best price i can get in the UK. As I'm going over to America i can collect the watch and not pay any duty. The problem i have is will the watch be classed as an illegal watch as the duty has not been paid. As there is only £800 difference would i be better off buying the same model in the UK.
I'm just thinking ahead when and if i go to trade it in.
Which watch are you after? I'm just thinking ahead when and if i go to trade it in.
Murph7355 said:
<15% saving isn't worth it IMO.
Customs are getting more and more savvy on these sort of purchases. Plus, you can have hassles with warranty.
If it were 30%+, then fair dos. Take the punt.
Is it something rare/unobtainable here?
Interesting point Murph 7355, some of the U.S. jewelers that i have contacted seem to be rather vague about the paperwork. IE not stamped by a authorized dealer.Then as far is I'm concerned the watch has no warranty.Customs are getting more and more savvy on these sort of purchases. Plus, you can have hassles with warranty.
If it were 30%+, then fair dos. Take the punt.
Is it something rare/unobtainable here?
as you are going to the US this is a bit of a pointless post. You canb get decent savings by going to Switzerland, dunno what the exchange rate is at the moment, but basically you claim the 'local vat' back, its very simple just need a form and you post it in a letter box at the airport.
It saves a long flight, and if you do easyjet or similar its costs very little.
It saves a long flight, and if you do easyjet or similar its costs very little.
sparkyhx said:
as you are going to the US this is a bit of a pointless post. You canb get decent savings by going to Switzerland, dunno what the exchange rate is at the moment, but basically you claim the 'local vat' back, its very simple just need a form and you post it in a letter box at the airport.
It saves a long flight, and if you do easyjet or similar its costs very little.
about 2.4 chf to the pound, watches are only slightly cheaper here then in the uk, Tag's are a bit cheaper, Rolex etc are about the same. Vat is only 7%, but then you'd need to pay the vat etc in the UK, just in case your thinking you could claim the tax back then not pay the uk tax.It saves a long flight, and if you do easyjet or similar its costs very little.
filaborg said:
BTW how does the duty work is it a straight forward 17% of the overall value.
Think I missed this before...Duty is 4.5% on watches and this gets added first I believe. Then you add 17.5% VAT on top.
Whilst I've been a bit of a doom monger in earlier posts about buying abroad, it's probably worth noting that I haven't yet purchased a watch in this country (though have bought 2 from other EU states where the taxes are already paid, 1 from Dubai and 1 from HK). If you're careful about what you buy, and research prices properly, you can get great deals abroad (as in 35%+ savings).
I've never yet had a high street shop here offer adequate discount to make it worth buying from them. I obviously look like a wrong un.
Murph7355 said:
If you're careful about what you buy, and research prices properly, you can get great deals abroad (as in 35%+ savings).
I've never yet had a high street shop here offer adequate discount to make it worth buying from them. I obviously look like a wrong un.
So is the research from WWW or from previous visits?I've never yet had a high street shop here offer adequate discount to make it worth buying from them. I obviously look like a wrong un.
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