Importing watches from japan

Is the Yen tanking even more then the pound or something? Just looked on chrono24 and a few watches with Japanese sellers seem very cheap. Well they do for a second and then you remember importing costs. The watch I was looking at particularly seemed decent value even after adding 20% for vat though, so I have questions. Is there any other fee in addition to the vat? A flat import fee or such? Would I be right to assume which ever courier is used pays and then charges me, and probably add their own admin charge milking the recipient for another...what?

If there is a problem and the watch ends up being sent back, do I get to claim the vat back again? Retuning a watch to Japan and also getting the vat back would I'm sure be a pita, but returning the watch and losing the vat would smart a whole lot more!

Finally would the price advertised on chrono24 include any Japanese vat? If so presume its worth talking to the seller as if they are exporting then this shouldn't need paying, or would I have to try and claim it back from Japanese customs and excise myself? Or are the prices tax free anyway?

If anyone has done it and can answer my questions I'd like to know their experience too, would they do it again?
Ta
Neil

I bought from Japan years ago and it was problem free very fast delivery from what I recall I do think that the current situation has thrown buying many things from abroad into a bit of a hassle.

I recently purchased from outside the UK (Germany) the price advertised was not including VAT so that was paid on arrival, basically the delivery company handled all that I got an e-mail to say my parcel had arrived the VAT was so much and how to pay it. I paid the VAT and the next day the parcel was delivered. From what I recall there was a charge (Cant recall how much perhaps £20 for admin) Obviously prior to Brexit this problem didnt exist so it was a lot easier to buy from Europe and a lot of dealers in Europe seemed to have JDM watches so it avoided all this hassle of worrying about import charges.

The other issue you have to factor in is getting the watch serviced, I know you mention if there is a problem but you should also think about what happens when its service or repair time? I know for GS they can be sent through Seiko UK but having a poor experience with them in the past not sure I would be happy sending a watch off through them and taking my chances everything will be ok.

The biggest problem I find is the different rates different countries have and as you say, some companies include the local VAT in their price or on other occasions I have found even when their local VAT is taken off the price still seems off (Presumably they have to factor in their own admin charges when they are selling to you)

Re Chrono24 prices I dont know what JDM watches you are looking at but have you looked at Watches of Mayfair? A while back I was curious about a few Grand Seiko watches and found prices on Chrono 24 were worse than on WOM once you factored in the import charges. A google of some of the watches also came up with up to 20% discount. I just gave up in the end couldnt be bothered with all the hassle.

I bought a watch from Japan on chrono24 and paid import taxes plus about £15.00 handling charge, as for claiming Japan vat back I found this but it hardly seems worth it.

About the EU-Japan Economic Partnership Agreement

Since the beginning of 2019, certain goods imported from Japan benefit from an exception or a reduction of applicable TARIFF (customs duty). Details are complicated and those new measures will be gradually released over a period of 7 years, but it doesn't change much for you. Most of our goods are taxed at about 3%. Taking our customs declaration optimizations into account, we have calculated that for the very large majority of customers, it will not significantly impact the taxes charged for their orders.



Sent from a technical device.

Thanks,
Reading the chrono24 ad carefully it says,

This price is not included consumption tax, tariff, import tax and other tax. These taxes are the buyer’s responsibility

So it seems there is no Japanese sales tax to get back.

The watch is a zenith chronomaster sport, so won't be going back east for servicing. £5862 in the ad, so after vat plus 20 quid ish admin fee is just a little under £7100. That's not bad. It's not incredible but it's worth thinking about.

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Originally Posted by LondonNeil

Thanks,
Reading the chrono24 ad carefully it says,

This price is not included consumption tax, tariff, import tax and other tax. These taxes are the buyer’s responsibility

So it seems there is no Japanese sales tax to get back.

The watch is a zenith chronomaster sport, so won't be going back east for servicing. £5862 in the ad, so after vat plus 20 quid ish admin fee is just a little under £7100. That's not bad. It's not incredible but it's worth thinking about.

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I would be looking at UK based dealers personally unless it was a well regarded dealer you are buying from.

Japanese prices often don't add their own tax, so as you noted you won't get their tax back from the price, and will add UK tax and delivery.

Japan is the most scrupulously open place I have ever purchased watches - description accuracy and photos I've always found to be rigorous, and absolutely know what you'll be getting. If the price works it would be worth considering.

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Originally Posted by Senninha

Japanese prices often don't add their own tax, so as you noted you won't get their tax back from the price, and will add UK tax and delivery.

Japan is the most scrupulously open place I have ever purchased watches - description accuracy and photos I've always found to be rigorous, and absolutely know what you'll be getting. If the price works it would be worth considering.

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Never bought a watch, but have had a couple of camera lenses from sellers in Japan - 100% as described, super communicative, well packaged and speedy delivery.

£600 ish camera lens attracted a £109 bill on top from Fedex for import stuff and admin.

Good, yes I've read what senninha says before so I think I'm fairly confident buying from Japan. The seller is I believe a bricks and motar shop, they've over a hundred watches listed, so feel quite confident. Saving would be about £650, about 9%, compared to best UK preowned. I'm mostly now trying to decide if I'm happy with the cost.
Ta.

Two caveats I would add: (1) make sure that they actually have the watch in stock (I've seen a number of Japanese sellers on both C24 and eBay who claim that they will procure the watch after you have bought it), and (2) make sure that the bracelet/strap is long enough (no personal experience, but I've seen a few mentions on forums about bracelets in particular being quite short by our standards).

I can also echo that my experience with Japanese dealers has been exemplary. Very accurate descriptions, very courteous service and all compliant with the law (don't even think of asking them to provide a lower declared value for VAT reasons) whereas I've found the Hong Kong dealers to be somewhat 'dodgy', openly stating they can provide lower declared tax values if you 'do the deal today' etc (seems like compliance with the law isn't a priority in Hong Kong!).

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Originally Posted by LondonNeil

Is the Yen tanking even more than the pound or something?

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Unlike the ROTW Japan is doggedly sticking to ultra low interest rates. So other currencies are appreciating against it.

Aside… in an “interesting” economic strategy, the Bank of Japan may in fact own more than 100% of some 10-year JGBs (Japanese Government Bonds): Not only has the central bank bought the entire stock of bonds, it has lent them out to short-sellers who have sold them back to the BoJ ��

Little tricky to know how that one ends. In the meantime, enjoy some cheaper watches…

TT

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Originally Posted by Tokyo Tokei

Little tricky to know how that one ends. In the meantime, enjoy some cheaper watches…

TT

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Damn! My self imposed exile from Buyee hasn't lasted very long.

Ahhh thanks TT. Predictions here seem to think at least one more rate rise is likely so perhaps the watch could get cheaper and more tempting yet then. Hmm.

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Originally Posted by Wimm

Damn! My self imposed exile from Buyee hasn't lasted very long.

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Resistance is futile!......

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Originally Posted by Tokyo Tokei

Aside… in an “interesting� economic strategy, the Bank of Japan may in fact own more than 100% of some 10-year JGBs (Japanese Government Bonds)

TT

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Admittedly I'm not too hot at finance, but how do you own more than 100% of something?

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Originally Posted by craggie

Admittedly I'm not too hot at finance, but how do you own more than 100% of something?

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Indeed, you are not alone in this sense of wonderment and admiration for these achievements. As an FT columnist put it…

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…the BoJ has taken “whatever it takes” to a whole new level beyond the comprehension of the pygmy minds of markets

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Ha ha! How very creative!

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I'm finding myself now trying to understand the pound to yen market predictions! Its ask guess wish m work but since the watch I was looking at has dropped £95 over a few days I guess a small change in the exchange rate can make quite a since l difference. I'll see what happens when BoE meets on the 11th.

It depends on the price of watch and location in Japan but it may well be cheaper or perhaps break even if you jump on next Emirates flight to Tokyo, buy watch with tax-free and fly home….

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Originally Posted by poko

It depends on the price of watch and location in Japan but it may well be cheaper or perhaps break even if you jump on next Emirates flight to Tokyo, buy watch with tax-free and fly home….

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For what price watch do you think that would be worthwhile (assuming watch could be bought in Tokyo)?

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Originally Posted by Kingstepper

For what price watch do you think that would be worthwhile (assuming watch could be bought in Tokyo)?

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I'm assuming one of the top if the line GS pieces? Otherwise I don't know...

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You are supposed to declare it and pay the vat still you know. Besides I either take my wife and 3 kids or come back to find my stuff on the street and the locks changed... either way it works out more expenditure m expensive 😀 🤣 😂

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Originally Posted by Kingstepper

For what price watch do you think that would be worthwhile (assuming watch could be bought in Tokyo)?

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The cheapest Emirates flight to Tokyo is around £1,000 so add hotel & expenditures etc.....I'd say £1,500 in total ?????
I can't think of watch price but I think it's a doable and win-win if your saving from buying tax-free watch and saving is greather than £1,500.

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Originally Posted by poko

The cheapest Emirates flight to Tokyo is around £1,000 so add hotel & expenditures etc.....I'd say £1,500 in total ?????
I can't think of watch price but I think it's a doable and win-win if your saving from buying tax-free watch and saving is greather than £1,500.

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Imagine if staying for only 1 night (if that) could be singled out for attention by customs.

I've pulled the trigger! Having been watching the pound vs yen it's climbed 7 yen in recent weeks as various news of inflation, wage inflation and interest rates here have come out. Climbing 1.5 to 2 yen today. So I pulled the trigger on a white dial zenith chronomaster sport with bracelet at £5570. After vat and allowing for a small fee as well, £6700. Fingers very crossed that the process is smooth and the watch really is 'very good' as described!

Sounds like a bargain.

I'm sure it will all go smoothly, I've had a great experience in buying from Japan before too :encouragement:.

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Originally Posted by LondonNeil

I've pulled the trigger! Having been watching the pound vs yen it's climbed 7 yen in recent weeks as various news of inflation, wage inflation and interest rates here have come out. Climbing 1.5 to 2 yen today. So I pulled the trigger on a white dial zenith chronomaster sport with bracelet at £5570. After vat and allowing for a small fee as well, £6700. Fingers very crossed that the process is smooth and the watch really is 'very good' as described!

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I’ve always calculated +30% on the ex-Vat price if importing considering all the costs involved - so make that £7240 all in. Still a good saving.

I’m interested how the deal goes! Good luck.

Thanks martyn, I wouldn't be surprised if there are more fees/duty then just the vat so I wouldn't have pulled the trigger unless the saving looked considerable. Fingers crossed its not as much as 30% , but if it is its still a reasonable price.

Paid on the visa card last night, chrono24 have verified the payment by mid morning. Seller messaged over night with pictures of the watch and its now marked as being prepared for dispatch.

There will only be 20% VAT plus handling fees (~£15 max).

That's what I'm hoping for, and I'll be very pleased if it is that, having made a healthy saving on a preowned watch. I shall report back as it proceeds and when it arrives I'll work out how to get some photographs up.

In the meantime I've got to get a few outgoing watches on sales Corner!

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Originally Posted by Kingstepper

There will only be 20% VAT plus handling fees (~£15 max).

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Plus 20p duty, of course! (And yes, I was charged the 20p on a Breitling I recently bought from Australia).

Also, some of the couriers now charge £25 handling on higher value items.

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Originally Posted by PhilipK

Plus 20p duty, of course! (And yes, I was charged the 20p on a Breitling I recently bought from Australia).

Also, some of the couriers now charge £25 handling on higher value items.

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Never been charged duty myself - maybe couriers charge and keep it!

http://katz.me.uk/photos1/20pduty.jpg

Watch dispatched and courier/ tracking info provided. It's on its way!

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Originally Posted by poko

The cheapest Emirates flight to Tokyo is around £1,000 so add hotel & expenditures etc.....I'd say £1,500 in total ?????
I can't think of watch price but I think it's a doable and win-win if your saving from buying tax-free watch and saving is greather than £1,500.

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I am pretty sure you would also be paying the list price plus 10% sales tax on f2f sale in Japan. The c24 prices are export prices.


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Payments of tax etc invoice received from courier. The amount is about £25 more than I thought it might be so either the courier fees or something besides the vat come to around £40, or the vat was calculated with a different exchange rate (I'm guessing the paperwork shows the value in Yen). My guess, exchange rate. Which is mildly taking the p as the pound had gone up a further 2-3 yen by yesterday but its not surprising. So total cost £6727. I'll be chuffed so long as the watch is good.

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Originally Posted by LondonNeil

Payments of tax etc invoice received from courier. The amount is about £25 more than I thought it might be so either the courier fees or something besides the vat come to around £40, or the vat was calculated with a different exchange rate (I'm guessing the paperwork shows the value in Yen). My guess, exchange rate. Which is mildly taking the p as the pound had gone up a further 2-3 yen by yesterday but its not surprising. So total cost £6727. I'll be chuffed so long as the watch is good.

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VAT is paid on everything including postage and packing costs does that explain the disparity but yes ex-rates will probably account for it.

Anyway - That’s a good total cost!

Postage was included in the sale price, so no.

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Originally Posted by LondonNeil

Payments of tax etc invoice received from courier. The amount is about £25 more than I thought it might be so either the courier fees or something besides the vat come to around £40, or the vat was calculated with a different exchange rate (I'm guessing the paperwork shows the value in Yen). My guess, exchange rate. Which is mildly taking the p as the pound had gone up a further 2-3 yen by yesterday but its not surprising. So total cost £6727. I'll be chuffed so long as the watch is good.

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HMRC ROE is set monthly in the last week of the preceding month. The current rate is JPY 171.8808 for all imports clearing in June 2023.


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Ahh! That makes sense then and accounts for the extra £20 I think.

It's arrived! Ups man delivered this morning and the watch is fantastic. The few minor marks are really small so I'd say the 'very good' description is extremely fair, and the warranty card shows it was first sold November 22, so £6730 for an 8 month old chronomaster sport on bracelet with white dial. I've saved a good grand and it's been very smooth. I need to get a quality small screw driver to adjust the bracelet, and of course get some photos!

Great that worked out for you!
Having commented earlier on the reliability of descriptions in Japan, was a bit worried just in case, but good to hear that was indeed accurate.
Cracking result too. The current weakness of the yen makes some real bargains, even with shipping and tax.

Haha, thanks! My actions, my responsibility though but I get where you are coming from and it's the sort of attitude that makes tz a great community.

Definitelyand after last week's inflation and interest rate news the pound carried on climbing, even after I ordered, and levelled out at about 181yen, so the potential to save is good.

Oh and for me, ups fees for handling the vat payment, was £28 (included in the above total)

Congratulations, and OT and I’m afraid very self indulgent whining on my part, but you got your watch from Japan and had to pay VAT etc far faster than I haven’t yet got some bits from the UK sent to Portugal with the VAT pre-paid.

So from my jaded perspective you’ve had great delivery service as well as a watch you wanted at a price you were happy with!

now, photos.....
please excuse the sweaty finger prints.....its hot, sweaty and i've just nervously adjusted the bracelet....screws, screwdrivers and an expensive watch make for sweaty palms!


<a href="https://lh3.googleusercontent.com/w3xaB2Rt2vMK5P9_tUxflAExdIroAupjjLflSWV9A00_5fyfBQ B0ZXYG6p5D7aX85UHZeATn6RrMFhn3SKOZWp3s4xncqw4zII3V XCiiz8_ovmspehjQdlj8sxkdxfmRTjnbY6E4Ouc=w2400?sour ce=screenshot.guru"> <img src="https://lh3.googleusercontent.com/w3xaB2Rt2vMK5P9_tUxflAExdIroAupjjLflSWV9A00_5fyfBQ B0ZXYG6p5D7aX85UHZeATn6RrMFhn3SKOZWp3s4xncqw4zII3V XCiiz8_ovmspehjQdlj8sxkdxfmRTjnbY6E4Ouc=w600-h315-p-k" /> </a>

<a href="https://lh3.googleusercontent.com/aW91GjYm4nBXmLaCRv4yd-FRbISHHsfRXjYYqnJcLudU4HfOnoExiY3ePnt-o1uqCLW3F8NemGmZisPas93z1jZPnqjA_p6HKIvwOZiOsgodIa 32iLSVynjPmGWF9vvKXQjdjYZDSeo=w2400?source=screens hot.guru"> <img src="https://lh3.googleusercontent.com/aW91GjYm4nBXmLaCRv4yd-FRbISHHsfRXjYYqnJcLudU4HfOnoExiY3ePnt-o1uqCLW3F8NemGmZisPas93z1jZPnqjA_p6HKIvwOZiOsgodIa 32iLSVynjPmGWF9vvKXQjdjYZDSeo=w600-h315-p-k" /> </a>

<a href="https://lh3.googleusercontent.com/Omy6IYKSyBCQR9Trkp0B5aTzn4w_8r0-ca_WDXTkfFDm3suJGl9M5UlPZmCTUbytKc-Mt5AkTyQTZ7VZ1xguXo4AONBa_A_qyFttHj_6RBlYdEDAnXkzB rWg6s3IDxPHwrOkyqa3qqQ=w2400?source=screenshot.gur u"> <img src="https://lh3.googleusercontent.com/Omy6IYKSyBCQR9Trkp0B5aTzn4w_8r0-ca_WDXTkfFDm3suJGl9M5UlPZmCTUbytKc-Mt5AkTyQTZ7VZ1xguXo4AONBa_A_qyFttHj_6RBlYdEDAnXkzB rWg6s3IDxPHwrOkyqa3qqQ=w600-h315-p-k" /> </a>

<a href="https://lh3.googleusercontent.com/pw/AJFCJaU_pkH_X_KlJiimg_MYkg-Y2M2AyLoyU3myWwvSITDNGA0uPflGg3rF8MsFhlQ9zDledC0um 8cl3slNcsjUQLRTmDqvOw13AoELeaR7A9qdwmyurtkG=w2400? source=screenshot.guru"> <img src="https://lh3.googleusercontent.com/pw/AJFCJaU_pkH_X_KlJiimg_MYkg-Y2M2AyLoyU3myWwvSITDNGA0uPflGg3rF8MsFhlQ9zDledC0um 8cl3slNcsjUQLRTmDqvOw13AoELeaR7A9qdwmyurtkG=w600-h315-p-k" /> </a>

eh? they are embed codes generated from labnol.org and they work fine on another website! grrr.

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Originally Posted by adzman808

Congratulations, and OT and I’m afraid very self indulgent whining on my part, but you got your watch from Japan and had to pay VAT etc far faster than I haven’t yet got some bits from the UK sent to Portugal with the VAT pre-paid.

So from my jaded perspective you’ve had great delivery service as well as a watch you wanted at a price you were happy with!

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I feel your pain bro (I’m in the Algarve)!!

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Originally Posted by MartynJC (UK)

I feel your pain bro (I’m in the Algarve)!!

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Ha! Yeah isn't it? Anyway they finally showed yesterday!