NY - Land of cheap watches!!!!

[disco1]

Hi guys,
I'm off to NYC next year and been looking at the NY based watch shops. Are watches really that much cheaper over there?

An example being Omega Railmaster XXL

UK = £1900+

US = $2000 or £1000!!!

Tag F1 Chrono

UK = £550+

US = $520 or £253!!!!!

If this is the case why are watches made in Europe, shipped over the atlantic and sold for less?

[anonymous-user]

Do those prices include local taxes?

I don't think you'll get the same discount of most watches.

[GCH]

I live in NY part time... not as cheap as other places in the US for watches and not as discountable.
Dont forget the sales tax too.
Often it works out to not a huge saving TBH.

[drgav2005]

I bought Tag-Hueuer Link Calibre 36 out in the US last summer (via Amazon.com) for $3800 - local dealer in the UK wanted over £5k!!! Only problem is it's about 5 hours slow ;-)

Just another example of rip-off Britain I'm afraid... get those bargains whilst the $ is so low!!!

[F1sh]

GCH said:

I live in NY part time... not as cheap as other places in the US for watches and not as discountable.
TBH.

Where is the best place to buy a watch then?

Danny

[Fisher]

Cannal Street.

[alfabadass]

I wouldnt say its due to rip off britain, I dont think anyone in the US would think they're cheap. This is mainly down to the weak dollar. Besides, I've been taking advantage of this for ages via ebay. As long as customs dont catch hold of you, you're fine

[drgav2005]

Alfabadass,

How can $3800 - essentially £1900 at today's rate in the US, and £5500 (or $11000) in the UK, NOT be a case of rip-off Britain?!?!?!!

It's not like they have to convert it from left-hand 'wear' to right-hand 'wear' is it?!?!

Good to see though that you've been using eBay and the US to exploit the differences in prices too!
I cannot see how watch manufacturers / retailers can justify price differentials like the one above in the UK.

[dazren]

Having had my eye on expanding my wristwatch stable with certain offerings from Parmigiani Fleurier and Omega. I really can't see the point in supporting UK watch distributors, even after having payed all the excessive taxes for importing from abroad.

DAZ

[NorthernBoy]

When I was looking at my Explorer II, it actually cost more in the US than in the UK. When you looked at the duty free price in Heathrow, too, he difference was huge.

[POORCARDEALER]

In my experience they are a bit cheaper in N York, but if you look on Ebay in the uk, you will find the same watches at NY prices +a few hundred quid

[uktrailmonster]

The dollar is weak, so prices in the US will seem lower. But remember that US prices are quoted without local sales tax. Plus you will have to pay duty (4.5%) + VAT. It may still end up cheaper, but not by as much as it looks at first glance.

Edited by uktrailmonster on Monday 26th November 23:29

[disco1]

uktrailmonster said:

Plus you will have to pay duty (4.5%) + VAT.

Edited by uktrailmonster on Monday 26th November 23:29

Why? How will the begrudged HMRC officer know what I have on my wrist was purchased in NY?

I could understand if you tried bringiong back a suitcase full but a personal watch being worn?

[jhoneyball]

if he wants to, he can make you prove it was bought in uk by providing them with a copy of the purchase receipt. C&E is one of those areas where you have to prove you are innocent.

[uktrailmonster]

disco1 said:

Why? How will the begrudged HMRC officer know what I have on my wrist was purchased in NY?

Chances are you'll walk through the green zone and nobody will stop you. But if they do happen to stop you, they will certainly ask you about your nice shiny new watch. As you haven't declared it and can't prove you bought it in the UK, they will confiscate it. You'll face the same risk every subsequent time you take it out of the EU, claim on the warranty, claim on your insurance, or even when getting it serviced. That's the trouble with expensive, visible, durable goods. The evidence sticks around for many years. The more expensive the watch, the more chance you'll have of being caught out eventually. So you have to weigh up the small risk of getting caught smuggling, plus effective loss of warranty and insurability, against the cost saving.

[princeperch]

I would only ever buy top end (ish) time pieces in the UK if they were pre loved.

I have purchased my TAGS from NY, the best saving of which was on the Monza, UK RRP £1250, I purchased in NY for £600. Took a bit of a risk, because if it flucked up I would have to stump up for the repairs, but over a year on, and she continues to run beautifully.

On some watches it really would be possible to buy in NY, assuming you circumvent the tax issue for what you can then sell on, in a year or so on ebay.

Near depreciation proof watch ownership.

[lowdrag]

uktrailmonster said:

The dollar is weak, so prices in the US will seem lower. But remember that US prices are quoted without local sales tax. Plus you will have to pay duty (4.5%) + VAT. It may still end up cheaper, but not by as much as it looks at first glance.

Edited by uktrailmonster on Monday 26th November 23:29

No sales tax to pay if you are not a state resident though. As regards VAT and duty, post the boxes and guarantee back home and wear it. The weak dollar is often held responsible but if the major manufacturers can afford to sell at say £1,000 over there why should it be £2,000 over here? Are you telling me they are making a loss on every watch sold in their biggest market? I don't think so. It is the same with camera gear; my Nikkor lens cost me £2,500 in the USA and was £3,800 here. The new D3 is £900 cheaper just for the SLR without lens. Why? No, I'm afraid that, the difference in sales tax/VAT notwithstanding, we are well and truly ripped off in Europe.

[GCH]

lowdrag said:

No sales tax to pay if you are not a state resident though.

No sales tax if its shipped out of state... buy in person in NY and you will get charged it.
Unless you go to Macys which give non residents the tax off as a matter of course anyway...

Of course, wave some cash and people can sometimes be somewhat flexible on the tax...

[alfabadass]

lowdrag said:

uktrailmonster said:

The dollar is weak, so prices in the US will seem lower. But remember that US prices are quoted without local sales tax. Plus you will have to pay duty (4.5%) + VAT. It may still end up cheaper, but not by as much as it looks at first glance.

Edited by uktrailmonster on Monday 26th November 23:29

No sales tax to pay if you are not a state resident though. As regards VAT and duty, post the boxes and guarantee back home and wear it. The weak dollar is often held responsible but if the major manufacturers can afford to sell at say £1,000 over there why should it be £2,000 over here? Are you telling me they are making a loss on every watch sold in their biggest market? I don't think so. It is the same with camera gear; my Nikkor lens cost me £2,500 in the USA and was £3,800 here. The new D3 is £900 cheaper just for the SLR without lens. Why? No, I'm afraid that, the difference in sales tax/VAT notwithstanding, we are well and truly ripped off in Europe.

From reading elswhere a lot of the price is to make a watch exclusive.

A Quartz fullsize Omega Seamaster may cost £1075 in the UK as SRP, but costs approx £200 to make, sold at £550 cost price resulting in something like 50% mark up which is disctated by Omega or indeed any Swiss maker.

The prices are also controlled worldwide to end up roughly the same. The only reason we're losing out compared to America is that the pound is so strong. I think a Quartz Seamaster is about $1200 = £600 quid ex tax.

As long as customs dont catch the parcel and IMO they are very good these days and cottoned on to the internet revolution and US prices, so far nearly everything courier delievered has been charged tax at roughly 20%, still a saving of about approx 30% rather than the more juicy 50% but worth the risk of a courier demandingg £160 in cash before handing over the package as UPS once demanded

[uktrailmonster]

lowdrag said:

No sales tax to pay if you are not a state resident though. As regards VAT and duty, post the boxes and guarantee back home and wear it. The weak dollar is often held responsible but if the major manufacturers can afford to sell at say £1,000 over there why should it be £2,000 over here? Are you telling me they are making a loss on every watch sold in their biggest market? I don't think so. It is the same with camera gear; my Nikkor lens cost me £2,500 in the USA and was £3,800 here. The new D3 is £900 cheaper just for the SLR without lens. Why? No, I'm afraid that, the difference in sales tax/VAT notwithstanding, we are well and truly ripped off in Europe.

Not much point in posting the guarantee back. You can't claim on it from the UK. But back to the price differential, I always check US prices when buying watches and they're not always cheaper than inside the EU. Although I agree UK prices are generally high. But I take it you know most UK watch dealers will drop 20% if you ask nicely? Paying full MSRP is a thing of the past.