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DaveDJ · 4 March 2023, 01:53 AM

Afternoon everybody, I'm so happy I found this site. Hope to god I can get some info from you guys.
Scenario...
My company is based in Denmark, and I would like to buy pre-owned Rolex watches from a UK dealer and re-sell them in Denmark.
Question I have;
If the watch I want to buy on the dealers website is £5,000, is this the price I pay, or is the vat deducted if it's for export ?
When I receive the watch in Denmark, what are the duty charges I have to pay, based on HS codes?
Of course, when I sell the watch in Denmark my price will include 25% Danish VAT.

Any help would be much appreciated, thanks.
Have a great weekend, from sunny Denmark 😎😎

Ollie1982 · 4 March 2023, 02:01 AM

Hi Dave, you really need to check with your local customs agency who can advise the tax requirements for imported goods.

beshannon · 4 March 2023, 02:02 AM

Welcome to the forum.

https://www.trade.gov/country-commer...ms-regulations

JRell · 4 March 2023, 02:11 AM

Huh? So you are asking us how to flip?

onyourbikes · 4 March 2023, 02:12 AM

If you don't know the answer to this I would suggest you don't have the knowledge to do this as a business.

It's not exactly rocket science, and is way down the list of obvious things an import business should know before even considering setting up shop.
A watch group is the last place you should seek international tax law advice.

DaveDJ · 4 March 2023, 03:05 AM

"Onyourbikes". Many thanks for your helpful and friendly reply. Have a wonderful weekend.

dannyp · 4 March 2023, 03:28 AM

Quote:

Originally Posted by JRell

Huh? So you are asking us how to flip?

More like advice on currency arbitrage, it seems…

Mr Ben · 4 March 2023, 03:53 AM

And I wonder why UK demand seems unusually high. It’s not just flippers and greys - it’s now the weak pound. THE WORLD IS TAKING OUR U.K. WATCHES!!!

brandrea · 4 March 2023, 04:07 AM

Welcome to the forum

vitalsigns · 4 March 2023, 04:32 AM

"I would like to start a watch flipping business.

I, not you, will profit from this business.

However, I would like you to do the research for me."

fskywalker · 4 March 2023, 05:16 AM

Quote:

Originally Posted by onyourbikes

If you don't know the answer to this I would suggest you don't have the knowledge to do this as a business.

+1

Sent from my iPhone using Tapatalk Pro

Overwatch · 4 March 2023, 05:21 AM

OH, Brother.

MinMay · 4 March 2023, 10:32 AM

Quote:

Originally Posted by JRell

Huh? So you are asking us how to flip?

Yep. But nothing wrong with it. OP is providing a service. So it’s all good.

justdate · 4 March 2023, 10:43 AM

Wow 25% sales tax, that’s brutal!

GGGMT · 4 March 2023, 11:13 AM

Sent from my iPhone using Tapatalk

rootbeer7 · 4 March 2023, 06:07 PM

With respect, if you need to ask this are you ready to start a business?

Crown & Shield · 4 March 2023, 08:42 PM

Quote:

Originally Posted by JRell

Huh? So you are asking us how to flip?

Quote:

Originally Posted by onyourbikes

If you don't know the answer to this I would suggest you don't have the knowledge to do this as a business.

It's not exactly rocket science, and is way down the list of obvious things an import business should know before even considering setting up shop.
A watch group is the last place you should seek international tax law advice.

Quote:

Originally Posted by vitalsigns

"I would like to start a watch flipping business.

I, not you, will profit from this business.

However, I would like you to do the research for me."

4 March 2023, 01:53 AM	#1
DaveDJ "TRF" Member Join Date: Mar 2023 Location: Denmark Posts: 2	Need someone "in the know". Afternoon everybody, I'm so happy I found this site. Hope to god I can get some info from you guys. Scenario... My company is based in Denmark, and I would like to buy pre-owned Rolex watches from a UK dealer and re-sell them in Denmark. Question I have; If the watch I want to buy on the dealers website is £5,000, is this the price I pay, or is the vat deducted if it's for export ? When I receive the watch in Denmark, what are the duty charges I have to pay, based on HS codes? Of course, when I sell the watch in Denmark my price will include 25% Danish VAT. Any help would be much appreciated, thanks. Have a great weekend, from sunny Denmark 😎😎

4 March 2023, 02:02 AM	#3
beshannon "TRF" Member Join Date: Jun 2009 Real Name: Brian Location: Northern Virginia Watch: One of Not Many Posts: 17,895	Welcome to the forum. https://www.trade.gov/country-commer...ms-regulations __________________ Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent

4 March 2023, 02:11 AM	#4
JRell "TRF" Member Join Date: Jun 2020 Location: Pittsburgh Watch: 126610LN Posts: 6,538	Huh? So you are asking us how to flip? __________________ 126610LN

4 March 2023, 03:05 AM	#6
DaveDJ "TRF" Member Join Date: Mar 2023 Location: Denmark Posts: 2	"Onyourbikes". Many thanks for your helpful and friendly reply. Have a wonderful weekend. Last edited by DaveDJ; 4 March 2023 at 03:07 AM.. Reason: Forgot name

4 March 2023, 06:07 PM	#16
rootbeer7 "TRF" Member Join Date: Jan 2014 Location: london Posts: 5,950	With respect, if you need to ask this are you ready to start a business? __________________ @imrootbeer7

4 March 2023, 02:01 AM	#2
Ollie1982 Banned Join Date: May 2020 Real Name: Ollie Location: UK Watch: Sub, Exp, DJ & Pam Posts: 1,664	Hi Dave, you really need to check with your local customs agency who can advise the tax requirements for imported goods.

4 March 2023, 02:12 AM	#5
onyourbikes "TRF" Member Join Date: Nov 2022 Location: Earth Posts: 143	If you don't know the answer to this I would suggest you don't have the knowledge to do this as a business. It's not exactly rocket science, and is way down the list of obvious things an import business should know before even considering setting up shop. A watch group is the last place you should seek international tax law advice.

4 March 2023, 03:53 AM	#8
Mr Ben "TRF" Member Join Date: Sep 2022 Location: UK Watch: 226570 Posts: 690	And I wonder why UK demand seems unusually high. It’s not just flippers and greys - it’s now the weak pound. THE WORLD IS TAKING OUR U.K. WATCHES!!!

4 March 2023, 04:07 AM	#9
brandrea 2024 Pledge Member Join Date: Jul 2013 Real Name: Brian (TBone) Location: canada Watch: es make me smile Posts: 73,587	Welcome to the forum

4 March 2023, 04:32 AM	#10
vitalsigns "TRF" Member Join Date: Jul 2020 Location: USA Posts: 510	"I would like to start a watch flipping business. I, not you, will profit from this business. However, I would like you to do the research for me."

4 March 2023, 05:21 AM	#12
Overwatch "TRF" Member Join Date: Nov 2016 Location: East Posts: 117	OH, Brother.

4 March 2023, 10:43 AM	#14
justdate "TRF" Member Join Date: Oct 2012 Real Name: RJ Location: UK Coast Watch: PP/AP/Rolex Posts: 1,328	Wow 25% sales tax, that’s brutal!

4 March 2023, 11:13 AM	#15
GGGMT 2024 Pledge Member Join Date: Aug 2013 Location: Itinerant Watch: 79010sg Posts: 8,044	Sent from my iPhone using Tapatalk

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