Reply With QuoteAt £9,100 (UK retail of the current 116500) you are unlikely to lose if you move it on in 3-6 months. If the price in Japan is £9,100, before factoring in the 20% VAT would when bringing it back to the UK then maybe you would.
I'm currently in Japan and they've got a black steel daytona available at RRP, which equates to roughly the GBP price. I'm not 100% sure on on whether I want one or not, but am tempted because of the rarity; or are they no longer as rare since the ceramic version came out? Ideally i'd like to get the 116500 but so would everybody else, and I won't pay 50% above RRP for one!
I guess where i'm getting to, is how much do you think i'll lose if I decide to get rid in say 3-6 months, and should I get it?
At £9,100 (UK retail of the current 116500) you are unlikely to lose if you move it on in 3-6 months. If the price in Japan is £9,100, before factoring in the 20% VAT would when bringing it back to the UK then maybe you would.
Buy it, keep it unworn and make a decision when you get back, you could even offer it to a dealer in part ex for a new ceramic or if the worst comes to the worst, offer it on here as an unworn watch for the same price as your best dealers offer.
You won't loose money either way.
Surely you will have to add tax to that when you bring it in?
Agree with Wallasey Runner, you wont lose money on this. I'd definitely be buying at that price.
Is it brand new???
Unworn 116520's listing for near ceramic money. Whether they sell is another matter, but a good guide!
Yes it's completely new and stickered. And I think it worked out at about £8,600 with the current exchange rate, but i'd get a c.8% tax rebate in Japan so when I factor the 20% VAT for bringing it back in the price is pretty much the same.
Ok thanks for the tips, i'll have a think about it tomorrow. I've never been a huge fan of the non-ceramic version so this could be a head over heart decision if I proceed.
At £8600 I would be buying it straight away.
You won't lose out at that money, you see used ones regularly around the £9000-£10,000 bracket.
Agree if you are able to bring into the UK for around £9k taxes and unworn, there is no risk - you will get that much for it on SC
Buy it and I'll buy it off you cash when you get home if you don't want it
I'm off to Taiwan at the end of the month and hoping on a find like this
Not if he smuggles it into the country.Originally Posted by estoban7
If it sneaks in under the radar and the OP sells it the tax still remains unpaid and it's the new owner's debt......whether or not I'd do it iw between me and my conscience.
Paul
I did it in the early 80s, bought a watch in Canada, put the box and papers in the post and just wore the watch on the way home. It was only a cheap Seiko. I don't think I could do it now.
Well at that price it's a bargain😉
A Daytona has sold today for $3.7 million different reference though!!
No brainer. Watchfinder will pay £10K + for it easy all day.
Ive been tempted to sell my "worn for best occasion only" white 116520 to help part fund an Aquanaut. Was suprised to see current eBay UK (sold history) ones go from 9-10K which are older and well used.
Is this really an accurate market price or dodgy auctions where sellers pump up their own auction bids. Not that I would feel comfortable selling a watch on fleabay of that value.
I dont think many appeared on SC since the 6.5 / 7K pre brexit days which now appear a bargain.
Have a feeling in the long run I should hang on to it longer.
Last edited by kultschar; 14th May 2017 at 22:05.
SS Daytonas are £9k plus all day long, if not higher - just check out a few of the websites of some of the trusted sellers.
Yeah - I was not sure if the likes of blowers etc are actually selling many at these prices or wishful thinking. I guess they are!
Kind of makes sense with Ceramic much further out of reach £££ (and many not liking ceramic Rolex)
They rise sharply last year since the ceramic launch and the brexit and the currency devaluation. I remember the older models sitting in SC not long ago at less than £7k and have seen one more recently in SC at around £9k and that sold
as in my post watchfinder will offer £10k + (subject to condition year etc)
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Could you explain how the new owner would be liable for the tax? And how they would be found and billed?
I thought VAT is only on new items, which this wouldn't be, although unworn it's still secondhand.
Even sold on the original 'importer' would be liable for the tax, no?
Genuinely interested, any info would be appreciated
Surely if you buy something new from outside the EU and then 'import it' as you land in Blighty, the item is still due to have 20% VAT paid on it. The fact that you own it and can argue that it is no longer new I don't think would hold much water with the appropriate authorities. Going through the green channel with it on your wrist is tax avoidance. Mark will be along shortly to clarify...
Might try them out next time im over since I usually stay central London. Wonder if they would have a problem that I no longer live in UK
No, why would they. They probably deal worldwide.
Once an item is here (in UK) I can't see how the authorities could know that VAT had never been paid on it.
When buying a watch from overseas there is usually very little documentation associated with the VAT payment - often just a label stuck to outside of the package and even that doesn't record what exactly the item is (let alone serial number).
Don't you come here with knowledge and reasoning. On this site the VAT police are watching!
OP, there are millions of expensive watches travelling every day. I've travelled ex-EU for years on a weekly basis and never once been questioned about my Rolexes, Omegas, Tudor or old AP. Besides, there's no proof of import payment other than a CC receipt.
Take the chance or don't take the chance, but it's your decision.
Not a matter of policing. The fact is, a lot of people simply don't know what the rules are, as evidenced by this thread and four or five others every month.
Once you know the rules, it's up to you to decide whether to break them, and in the nicest possible way, it's a matter of supreme indifference to me or anyone else here whether you do or not.
It's not, though. There are a 'holier than thou' element on here who will preach on the subject. A subject which is all about personal choice. I bought an SD43 recently and it utterly pained me to not be able to re-claim the VAT on this one as it's the first in 15 years that I've paid VAT on!
Agreed, but let's draw a useful distinction between that, and clarifying exactly what the rules are.
Sure, they've been stated on here before:
- Buy ex-EU and choose to declare import or not. Being caught, no matter how very, very unlikely, will be costly. Most don't. The 'f"ck' here is that I was once waved through on declaring. No reciept for that!
- Buy UK and claim VAT back as overseas resident, keep watch out of UK for 6 months+ and re-import with no VAT/duty to pay.
- Buy at airport upon leaving UK and get a discount equivalent to the value of the VAT. Bring watch back into UK any time.
I think that's it!
Indeed. And will continue to need to be re-stated on every thread involving overseas purchases, and greeted every time by a mixture of disbelief, anger, denial, argument, complaints of 'policing', justification of smuggling by the fact that 'everybody does it', and irrelevant appeals to the fact that Amazon doesn't pay enough UK corporation tax, therefore no-one should have to pay VAT.
All part of the fun of the forum.
FTFY
And let's not forget, it's Eddie's forum and IMHO disrespectful to discuss carrying out illegal activities on here.
Whether anyone chooses to break the law however, is a matter for their own conscience and it's not our place to pass judgement.
Last edited by Dave+63; 15th May 2017 at 16:38.
Thanks for the advice all. Turns out they wanted £14k in the end for it?!! Crazy after they said the day before it was at RRP; very annoyed I didn't just go for it. They also have the 116500's at £12.7k and £13k (black, white), but scared I will lose money once the hype dies down.
Also the 116520 is that sort of price in the other stores too, often more than the ceramic.
Lots of Batman's 116710 around but it works out at about £6.3k after currency etc.
Doubt you are going to get better then those prices. If your not already near the top of a wait list you prob have little chance getting one for retail for quite a few years now.
Am pretty sure £14k current UK equivalent is around RRP for Daytonas in Japan, so maybe a confusion on what RRP was?
I think you can expect to almost lose nothing if you don't wear it.
If worn i would expect a 1-2000 pound loss, as this is the margin on which most dealers opperate and their salesprice is a bit above retail for new in box and around retail for worn pieces
more than the ceramic! that's a trend I haven't seen anywhere else, very weird. Were there other such anomalies in the Japanese watch world?
I'm Next in queue to buy this if you buy it and decide to flip
Seikoboy
I'm Next in queue to buy this if you buy it and decide to flip
Seikoboy
Seikoboy
are you sure this was in an Authorised Dealer? I know some ADs in Asia are allowed and often do charge above MSRP but i have never encountered this practice in Japan.
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