Hi all, before i joined the forum here i used to be based on Timezone and sometimes on WUS, i occasionally still visit the sales corners there to see if i can't find a hidden treasure (at least one i would consider a treasure)
But my main thought here is this, with pricing in dollars and the dollar becoming very weak against the pound at the moment (about $1.65 to £1 (if you use a currency broker the exchange rate is very close to this, where as paypal give terrible exchange rates, but then your covered)) looks set to become even weaker, what are peoples thoughts on buying from abroad? the watches are just getting cheaper and cheaper (as could be said with buying anything from abroad) as the exchange rate changes. Only worry i suppose would be import duties, but even then if your willing to take the risk some sellers send with low declared value.
I'm just wondering what peoples thoughts are on buying abroad? Is it personally worth the hassle and risk if anything goes wrong? And how do people work with import fees?
I bought my Aerospace from a very nice baker in New York, we had a good chat on the phone, i pay pal'd him the money, and i got the watch in a pain staking two weeks. But i got it for a good price and in good condition. But i'm sure there are some horror stories out there from buying abroad?
Doug
Personally, I am still put off from buying anything in dollars - I just remember well a few visits to the States, one from when the dollar was still effectively over two for one on the pound, then a more recent visit when that had dropped to the level it is now.
http://www.bbc.co.uk/news/business/m...elve_month.stm
That said, we don't look great against the Euro either.
http://www.bbc.co.uk/news/business/m...elve_month.stm
Howie
No the euro is terrible, and i can't see it changing too much.
But the dollar in the last week has changed significantly, and maybe set to change even more! Good in some ways as buying from the USA is good, but a right pain if your selling, Gold for example, even though the Dollar price for Gold has Rocketed over the past week, its not as nicely reflected in the Sterling price as the exchange rate has changed so much. But its still changed, which is nice :twisted:
But i recon if the dollar went over 1.70 then i might be tempted by a few deals on Timezone, not WUS.
It could be worth the risk.
I'm just v pleased I bought an 18k Omega from the states when the price was over 2:1 :)
It's just a matter of time...
I'm considering my first USA watch purchase. I'm trying to convince the missus to pick the watch up for me from her aunt's house as she'll be out there next month but she is not playing ball at the moment. I've tried offering to let her keep the "savings" I would make on customs charges, Tried its our anniversary soon you can let me buy it and not get me anything but she is not having any of it. I think she's being very selfish. I may have to trade her in if she doesn't see sense.
The only problem is getting it into the uk, I received a watch box marked at a £35 value and got charged £ 28 in duties and handling fees, another problem is most US shipping companies won't insure watches posted abroad
I got hammered £103 duties on a $750 watch recently :evil:
Yes too risky for high end watches to ship to the UK.
I'm going to get my first U.S. watch in the next few months (Benarus). I've just allowed for the 20% VAT and expected customs fee. So if after that the price is still right, you have no worries tbh. Just don't plan/hope to avoid these fees.
Basically pointless unless a lot of factors go in your favour.
The £UK might be strong against the $US at the moment, but most of the high end watch brands fix prices fairly regularly, meaning that unless there is a serious swing in currencies (not 30 or 40 cents, a SERIOUS swing) its rarely worth taking the risk. Bear in mind that the US have 'sales tax' which differs in different states. In New York its about 8%, in LA its more like 6%. Even so, its a big chunk on top of what you're paying.
I've just come back from the States, and Rolex, Breitling, Patek, AP, Omega and a few others (even Hamilton and Victorinox) are pennies cheaper than over here.
IMO its much better to spend the extra couple of quid (its THAT little) and have a shop in the same country to take it back to should anything go wrong...
I saved about a hundred quid by buying a watch on US eBay that was being sold from Germany. Nothing to do with the exchange rate though.
I used to buy a lot of vintage/deco watches from the USA, back when it was around $2 to £1. Even with tax and handling charges, it was a lot cheaper than buying from Europe. Gave up when it dropped below $1.80.
Does having a watch purchased in the U.S sent to a relative within the States and then marked as gift and forwarded on to me in the U.K enhance my chances of avoiding the dreaded import tax charges?
yes it improves your chances of getting away with tax evasion.Originally Posted by Dr Phibes
Which is illegal, and raises the taxes for every honest tax payer
Good luck with your criminal scheme
No - even 'gifts' are charged Customs Duty and VAT upon entry to the UK. They just have a slightly higher threshold than standard purchases.
Customs duty is added first (approx 2.5%), then VAT (20% obviously) is added on top of that.
You can't even get away with buying it as a gift for someone else in the UK. The same still applies.
The only way you would (potentially) get away with it is to fraudulently get your relative in the US to under- declare the value prior to posting. This however is a criminal offence and in no way promote or support such activity. It is also a risk if your 'gift' goes missing and you try to claim on the Couriers Shipping Insurance.
Doug - to be fair to Paypal (and I am by far their least biggest fan) they are currently quoting $1.60 to the £1 at the moment. I was looking into this very thing yesterday.
I think it sucks for you having to pay VAT taxes.Here in the USA we don't get hit with a VAT tax.I did ones from FedEx they sent me a bill for the VAT when a bought a watch direct from Stowa from Germany I was pissed but they sent be the bill after the watch was delivered.But that was the only time and I bought a few from Europe and never had to pay a VAT tax to get a watch out of what I call tax jail still can't believe they hold your watch hostage until you pay that tax.
River rat - it's not so bad if we (in the UK) buy stuff in the EU because no VAT is payable. Its when you buy stuff out of the EU is when it really hurts.
Laugh at me if you wish, but I didn't realise that Switzerland wasn't a Full EU member :roll: - this means VAT is payable on all imports (in watch terms) from there to the UK. :evil:
Have any of you ever thought of coming to the USA on vacation and hit a NAWCC regional were you can get a good deal on vintage watches but make it worth it by buying a few that mite pay for the trip.Resale them back at home and keep a few for the collection.Will the government tax you with the watches when you come back home with them just another idea I was thinking.
Nice try, you could get away with 1 (by wearing it), but not any more than that. If they were in your suitcase, you would more than likely have to pay VAT on them.
You could argue that you took them to the USA with you - but I don't think it would wash somehow.
Have any watch sent over hear marked as a gift value of £15-£30 and you wont encounter any problems, just make sure that if it's a new watch that the paperwork is not open I.e blank or made out to you. Even more important is that there is no receipt of sale made out to you with the watch have them sent separately. Fed Ex is good as they never loose items and the tracking is second to none, they also ship so many items between hear and the US, that although customs scan every item, due to the massive volume of parcels they have to go through when a Fed Ex plane lands, and the fact most parcels are on a 24h turn around and they understand they can't take all day. So If it's not drugs, cash, guns, explosives, dvd's, or things of that nature they rarely check the item in any more detail.
If he marks it anything over £18 then VAT (admittedly a small amount) is payable.
He can mark it up to £135 before he has to pay Customs Duty.
(Both in Gift circumstances)
Buy them get a local service centre/watchmaker in the states to make you out service receipts for the watches and make sure that if they call him he backs up your story $100 normal rate for the service. Then if you get stopped tell customs you have known the guy for years and don't trust anyone else to service your collection. You then have a perfectly good reason for carrying as many watches a you please back without paying a dime in tax.
Nice try, you could get away with 1 (by wearing it), but not any more than that. If they were in your suitcase, you would more than likely have to pay VAT on them.
You could argue that you took them to the USA with you - but I don't think it would wash somehow.
Awsome.Buy them get a local service centre/watchmaker in the states to make you out service receipts for the watches and make sure that if they call him he backs up your story $100 normal rate for the service. Then if you get stopped tell customs you have known the guy for years and don't trust anyone else to service your collection. You then have a perfectly good reason for carrying as many watches a you please back without paying a dime in tax.
Nice try, you could get away with 1 (by wearing it), but not any more than that. If they were in your suitcase, you would more than likely have to pay VAT on them.
You could argue that you took them to the USA with you - but I don't think it would wash somehow.
Sounds like a lot of work though.
Sounds highly illegal too! :shock:
The Heathrow air will never taste as good as it does when you walk through those doors knowing that its 1-0 You vs US and UK C&E. Lets be fair they never do anything productive with the money they earn from us anyway that's what makes this so satisfying.
"Sticking it to the Man" - fair enough if you are happy to defraud the government, but someone else's taxes will be higher to compensate for your tax saving. By buying from abroad, you are also helping to put UK retailers out of business.
I prefer to play by the rules. If I get something delivered that HMRC or their agents have missed, that's my good luck. I buy from abroad expecting to pay the duty, normally because the item isn't available here, not because it's cheaper. I also minimise the amount of tax I pay by playing the system, specifically using my tax allowance wholly against my wages, rather than against my pension (saves NI - you don't pay it on pension income). All perfectly legal, as the tax office did it for me.
Fraud is a different matter. I believe in paying my share.
Admirable/Naive depending on your view. I think most people would view it as naive as I have flown from NY to LHR many times around christmas and seen the vast amounts ( well in excess of £150 limit) of woodbury common/5th av/bloomingdales shopping that people bring back yet the items to declare aisle at customs is always deserted!"Sticking it to the Man" - fair enough if you are happy to defraud the government, but someone else's taxes will be higher to compensate for your tax saving. By buying from abroad, you are also helping to put UK retailers out of business.
I prefer to play by the rules. If I get something delivered that HMRC or their agents have missed, that's my good luck. I buy from abroad expecting to pay the duty, normally because the item isn't available here, not because it's cheaper. I also minimise the amount of tax I pay by playing the system, specifically using my tax allowance wholly against my wages, rather than against my pension (saves NI - you don't pay it on pension income). All perfectly legal, as the tax office did it for me.
Fraud is a different matter. I believe in paying my share.
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