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| Buying a watch from abroad https://www.breitlingsource.com/phpBB2/viewtopic.php?f=10&t=49944 |
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| Author: | Great Retributioner [ Wed Sep 25, 2013 12:11 pm ] |
| Post subject: | Buying a watch from abroad |
I've never imported a watch before (to the UK) so I need a little help working out the true cost. If a watch is worth $4000, would the total cost be c. £3000 (~£2500 for the watch, ~£500 VAT). [Assuming $1=£0.62] Is there anything else that I'm forgetting? Thanks. |
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| Author: | andrew692003 [ Wed Sep 25, 2013 12:29 pm ] |
| Post subject: | Re: Buying a watch from abroad |
Shipping cost! Customs will charge you around 20% as soon as you're watch arrives in the country, no more! They will send you a bill which has to be paid before they will release the watch. That's what happened when I bought 2 of my Breitlings from the US of A. That was about 5 years ago when it was worthwhile doing, not sure how the exchange rate looks compared to buying at a dealers here, say Andrew Michaels. Bought 2 watches from them at great prices! |
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| Author: | Driver8 [ Thu Sep 26, 2013 1:03 am ] |
| Post subject: | Re: Buying a watch from abroad |
In addition to the dear old 20% VAT, there may also be a "handling fee" charged when it arrives in the UK. Basically if there's any way the government can claw a few extra pounds from the consumer to waste on ill-conceived schemes, then they'll find it. Like Andrew I've imported a few pieces from the States over the years - mostly to sell on as the FX rate made it very cost effective. Nowadays though I don't think the FX rate makes it worthwhile. I've not imported any watch for a good few years now as once you add up all the additional costs, the savings are marginal (if any). |
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| Author: | Great Retributioner [ Thu Sep 26, 2013 9:09 am ] |
| Post subject: | Re: Buying a watch from abroad |
Thanks for the reply guys. Even with the customs charge (and handling charge), it is still worthwhile to import. |
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| Author: | Barry321 [ Sat Sep 28, 2013 6:55 am ] |
| Post subject: | Re: Buying a watch from abroad |
Hi, Be careful. I have just returned from the Canary Islands and experienced some difficulties with a dealer there. See my thread if you like: viewtopic.php?f=7&t=49949 In the end, I decided that the cost saving of buying from an authorised dealer abroad and being a watch smuggler could not be justified against buying the same product from a REPUTABLE cut price seller in the UK. IF you get the dealer abroad to do a dodgy deal on the shipping, the usual one is to have them send you the watch as a repair return, you can dodge the taxes and save yourself a good few quid. But of course if you get caught or if you do it legitimately then HMRC will: take the price you paid for the watch, add to this the cost you paid for shipping to arrive at the landed value. They will then add at least the 20% VAT (sales tax) to this combined figure. The chances are that your shipping agent (UPS or whoever) will also charge you a bunch of fees for handling this clearance for you. If you compare this landed cost to the full retail in the UK, you might have saved a little. But if you shop around, especially using the recommendations from the esteemed members on this forum, you will be able to source your watch with all taxes and duties legitimately paid (and if they weren't its not your problem) within the UK. Also, in the UK and EU we have great consumer protection laws that stop vendors from voiding warranties just because you didn't buy from Authorised Dealers. |
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