Buying in Italy

[Amex4711]

Originally Posted by 415

Just stop by and none available.

o.k., that's not good

[mordeeb]

Should I expect the prices to be better than anything on this forums via the BNIB market?

[Naples09]

Originally Posted by mordeeb

Should I expect the prices to be better than anything on this forums via the BNIB market?

If you can get the VAT back, yes.

[bodhipooh]

Originally Posted by Skyrider01

Actually, you would care about the VAT refund as that will affect your final purchase price. For example, in Switzerland, the VAT is about 7%. So on a $10,000 watch, you will get back $700. In Italy, the VAT refund is 15%, so on that same $10,000, you will get back $1500, effectively reducing your out of pocket expense by $800.

Keep in mind that in the US prices do not include tax. In Europe, the MSRP includes the tax. So on a $10,000 watch, assuming 6% US sales tax and 15% Italian VAT, you are paying $8500 in Italy vs $10,600 in the US, not factoring the exchange rate.

So without the AD's even providing you with a discount, you should come out ahead with today's exchange rates.

As far as if the DSSD is in stock, you will have to check with the individual ADs, and same goes for the discounts. I was not shopping for a DSSD while in Italy, so I do not remember if the ADs I visited had any.

This is simply not correct and is the type of misinformation that creates confusion and unnecessary headaches for some consumers.

If the VAT is included (as is the case everywhere in Europe, except at air-side airport shops) the refunded VAT will NOT be the same percentage that is factored into the price. If an item has a 25% VAT factored into its retail price, a full refund would equal 20% of the retail price. For example:

If you assume a given watch costs 8,000€, and the country has a 25% VAT, its retail price would be 10,000€. A full refund would be 20%, which is also referred to as the inverse, calculated as 1/x, where x is 1.25 in our example.

For a 20% VAT, the inverse is 1/1.20, which is .833, for a VAT refund of 16.6%.

In any case, those are theoretical full VAT refunds. In practice, if you are getting a VAT refund through one of the VAT refund scheme companies (such as Global Blue, or Premier Tax Free) you will only get back a portion of the VAT, as the company will take its cut for the convenience. For example, in Italy, where the VAT is 22%, Global Blue will refund 15.5% in purchases over 8,000 €, whereas a full refund would be 18% of the retail price. In other words, they are pocketing ~200€ for the convenience of handling all the paperwork related to the processing of extracting money from the tax authorities in Italy.

[Langnam]

Just saw some serious vintage for sale at the Capri Rolex store.




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[mordeeb]

Some watches in Pisa and Lucca

[rayven]

Headed to Italy for 3 weeks next month. Anyone had any luck finding any BLNR's?

I'll be in Venice, Milan, Lake Como, Cinque Terra, Florence, Pisa, Positano, & Rome if anyone has any AD recommendations other than the ones listed?

Thanks!

[anakyn101]

Originally Posted by rayven

Headed to Italy for 3 weeks next month. Anyone had any luck finding any BLNR's?

I'll be in Venice, Milan, Lake Como, Cinque Terra, Florence, Pisa, Positano, & Rome if anyone has any AD recommendations other than the ones listed?

Thanks!

I have actually seen plenty BLNRs in Italy especially at greys.. It's not a hard watch to find! Have a great trip!

[rayven]

Originally Posted by anakyn101

I have actually seen plenty BLNRs in Italy especially at greys.. It's not a hard watch to find! Have a great trip!

Thanks for the quick reply!

Still capable of getting VAT back on grey purchases?

[anakyn101]

Originally Posted by rayven

Thanks for the quick reply!

Still capable of getting VAT back on grey purchases?

In regards to the VAT reimbursement (if you reside in a NON EU state you are eligible to get the VAT back) at all locations. It works like this: You purchase the watch and pay the full price with VAT (in Italy it's 22%). At the airport ask for the IVA Reimbursement office and show them your receipt. They will reimburse you in cash.
Here's the instructions (in Italian but use Google translate) http://www.milanomalpensa-airport.co...d/rimborso-iva
Here's a link with all the the Tax refund offices at Malpensa Airport http://www.milanomalpensa-airport.co...borso-iva/desk Keep in mind that these offices are at each major international airport in Italy.
Hope this helps and have a blast!

[bob@bob]

Hello. First post here. Going to Italy tomorrow. I will be in and Around Florence, Pisa, Venice and Milan. I am looking for deepsea d blue, the new steel white gold datejust 41s, steel daytonas and maybe the gold day date 40 with roman numerals or even a pm daytona with white gold and blue dial. What are the best ads to get a discount or find some of those rarer models like d blue?

[Amex4711]

Originally Posted by bob@bob

Hello. First post here. Going to Italy tomorrow. I will be in and Around Florence, Pisa, Venice and Milan. I am looking for deepsea d blue, the new steel white gold datejust 41s, steel daytonas and maybe the gold day date 40 with roman numerals or even a pm daytona with white gold and blue dial. What are the best ads to get a discount or find some of those rarer models like d blue?

as I told in other Threads,
If you go to florence, at Ponte Vecchio Bridge the Rolex Boutique , and ask for andrea (he is a man !), very helpful guy

[rayven]

Originally Posted by anakyn101

In regards to the VAT reimbursement (if you reside in a NON EU state you are eligible to get the VAT back) at all locations. It works like this: You purchase the watch and pay the full price with VAT (in Italy it's 22%). At the airport ask for the IVA Reimbursement office and show them your receipt. They will reimburse you in cash.
Here's the instructions (in Italian but use Google translate) http://www.milanomalpensa-airport.co...d/rimborso-iva
Here's a link with all the the Tax refund offices at Malpensa Airport http://www.milanomalpensa-airport.co...borso-iva/desk Keep in mind that these offices are at each major international airport in Italy.
Hope this helps and have a blast!

Extremely helpful, thanks so much! I'll let you know if I end up pulling the trigger on something.

[IGotId]

Originally Posted by rayven

Headed to Italy for 3 weeks next month. Anyone had any luck finding any BLNR's?

I'll be in Venice, Milan, Lake Como, Cinque Terra, Florence, Pisa, Positano, & Rome if anyone has any AD recommendations other than the ones listed?

Thanks!

That's the exact same itinerary I had over a month ago! Good luck with your search!

I'll be returning to Venice & Milan in the summer & hope to find a DJ 41

[joli160]

Originally Posted by bodhipooh

This is simply not correct and is the type of misinformation that creates confusion and unnecessary headaches for some consumers.

If the VAT is included (as is the case everywhere in Europe, except at air-side airport shops) the refunded VAT will NOT be the same percentage that is factored into the price. If an item has a 25% VAT factored into its retail price, a full refund would equal 20% of the retail price. For example:

If you assume a given watch costs 8,000€, and the country has a 25% VAT, its retail price would be 10,000€. A full refund would be 20%, which is also referred to as the inverse, calculated as 1/x, where x is 1.25 in our example.

For a 20% VAT, the inverse is 1/1.20, which is .833, for a VAT refund of 16.6%.

In any case, those are theoretical full VAT refunds. In practice, if you are getting a VAT refund through one of the VAT refund scheme companies (such as Global Blue, or Premier Tax Free) you will only get back a portion of the VAT, as the company will take its cut for the convenience. For example, in Italy, where the VAT is 22%, Global Blue will refund 15.5% in purchases over 8,000 €, whereas a full refund would be 18% of the retail price. In other words, they are pocketing ~200€ for the convenience of handling all the paperwork related to the processing of extracting money from the tax authorities in Italy.

This is correct, many people don't get the maths right

[Alex_TA]

Italy is good for watch buying. ADs are willing to negotiate. Realistically you can get 5% discount for credit card or 10% for cash for steel Rolex models + 15% VAT refund in airport.

But not sure you'll find ultra-popular models like BLNR or Daytona waiting for you

[No SUBctitute]

Originally Posted by Alex_TA

Italy is good for watch buying. ADs are willing to negotiate. Realistically you can get 5% discount for credit card or 10% for cash for steel Rolex models + 15% VAT refund in airport.

But not sure you'll find ultra-popular models like BLNR or Daytona waiting for you

10% off a SS Rolex in Italy would definitely make it less than in the UK. I'd like to hear from anyone who has gotten this on a SS sports model.

[Dirt]

Originally Posted by IGotId

That's the exact same itinerary I had over a month ago! Good luck with your search!

I'll be returning to Venice & Milan in the summer & hope to find a DJ 41

Rome is starting to see some now.
I probably tried on four about 2.5 days ago.
I'm rather impressed with the Black dial.

[Dirt]

Originally Posted by Alex_TA

Italy is good for watch buying. ADs are willing to negotiate. Realistically you can get 5% discount for credit card or 10% for cash for steel Rolex models + 15% VAT refund in airport.

But not sure you'll find ultra-popular models like BLNR or Daytona waiting for you

All the dealers I spoke to said the TRS (which is calculated on a tiered scale) only applied to purchases sold at the full list price.
The same situation applied to purchases of other goods.
Regardless it's still an attractive proposition.

The best part is the more you spend, the more you save

[Dirt]

Originally Posted by bob@bob

Hello. First post here. Going to Italy tomorrow. I will be in and Around Florence, Pisa, Venice and Milan. I am looking for deepsea d blue, the new steel white gold datejust 41s, steel daytonas and maybe the gold day date 40 with roman numerals or even a pm daytona with white gold and blue dial. What are the best ads to get a discount or find some of those rarer models like d blue?

Good luck on that D-blue.
I think the only one they've seen for a while was on my wrist

[33JS]

Originally Posted by Dirt

All the dealers I spoke to said the TRS (which is calculated on a tiered scale) only applied to purchases sold at the full list price.
The same situation applied to purchases of other goods.
Regardless it's still an attractive proposition.

The best part is the more you spend, the more you save

That is dealer specific. VAT reclaim is not dependent on full retail price sales - that is a rule enforced by the dealer. There is nothing practically to stop VAT reclaim on a discounted price. I've done it many times in the UK and Scandinavia on Rolex, AP, Omega and Tudor.

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[Dirt]

Originally Posted by 33JS

That is dealer specific. VAT reclaim is not dependent on full retail price sales - that is a rule enforced by the dealer. There is nothing practically to stop VAT reclaim on a discounted price. I've done it many times in the UK and Scandinavia on Rolex, AP, Omega and Tudor.

Sent from my SM-G355H using Tapatalk

I don't claim to be an expert on the implementation of taxation policy at point of sale all around the world, but it seemed to be a policy right across the board regardless of what type of goods were purchased or where ever it may have been.
At the end of the day I'm not about dictating to a vendor what they should or should not be doing in their own country, so I accept the which way the wind blows on the day.
So for the whole month I was there the story was consistent.

Sometimes it was much easier to get a bigger discount for a cash sale where the vendor had the room to move.
And so it was cash. Which is the preferred method of payment as far as they were concerned anyway regardless.

[rayven]

Originally Posted by Dirt

I don't claim to be an expert on the implementation of taxation policy at point of sale all around the world, but it seemed to be a policy right across the board regardless of what type of goods were purchased or where ever it may have been.
At the end of the day I'm not about dictating to a vendor what they should or should not be doing in their own country, so I accept the which way the wind blows on the day.
So for the whole month I was there the story was consistent.

Sometimes it was much easier to get a bigger discount for a cash sale where the vendor had the room to move.
And so it was cash. Which is the preferred method of payment as far as they were concerned anyway regardless.

How does the dealer keep you from getting VAT back? Isn't it just providing the receipt to one of the companies that process it?

[Dirt]

Originally Posted by rayven

How does the dealer keep you from getting VAT back? Isn't it just providing the receipt to one of the companies that process it?

The dealer can't stop you from getting it back. No one said they could stop you from claiming it back.
If I understand your query correctly. They simply weren't able to make it available to you as an option for some reason. It was universally only on condition the full retail price was paid.

My understanding is there's a couple of ways to claim the tax back.
From what I could understand, I think one way is with the dealer doing the paperwork in house at point of sale.
The other way is to claim it back at the airport through one of the companies that handle that sort of thing. That is the way we went for simplicity with our purchases which were only at the full recommended retail price. Otherwise the tax refund wasn't available to us at all as it was universally explained to us at point of sale.

[Alex_TA]

Originally Posted by Dirt

All the dealers I spoke to said the TRS (which is calculated on a tiered scale) only applied to purchases sold at the full list price.

The same situation applied to purchases of other goods.

Regardless it's still an attractive proposition.

The best part is the more you spend, the more you save

These dealers just don't want to discount. You get your VAT back from the price you paid and not from some catalogue. Doesn't matter if you bought a watch or shoes.
The dealer should do a paperwork at sale, you take it and your watch in the box to airport and Bob's your uncle.

[Dirt]

Originally Posted by Alex_TA

These dealers just don't want to discount. You get your VAT back from the price you paid and not from some catalogue. Doesn't matter if you bought a watch or shoes.
The dealer should do a paperwork at sale, you take it and your watch in the box to airport and Bob's your uncle.

I didn't get into it at the time as I was not interested in buying what they had in stock.
I agree wholeheartedly with your assessment as it was my conclusion whilst there.

Italy works best as a cash economy where ever possible and I understand that completely. I have been to Italy a number of times and this has always been my experience.
As a country, Italy is very much a product of its modern history.

In summary, i believe they were steering us toward a cash sale where ever possible. I get that completely.
As an example, it even worked out better in regards to our accommodation to go with cash.

I am not in a position to explain fully or understand the vagaries of the implementation of Italy's tax policy at point of sale if applicable.

[rayven]

I know VAT questions are beaten to death on here, but I just want to ensure I'm tracking...

At the AD I show my passport and request tax free form, seems global blue is most popular company? Then at the airport I need to go to customs with form and receipt/items for paperwork to be "stamped" then at this point I can either mail the paperwork back to Global Blue or go to the location at airport to have it processed?

I depart out of Rome to IAD early (06:30) through Brussels with a relatively short layover (1.5 hr). Will these times be an issue in trying to claim VAT? If so, what are the alternatives? Lastly, is it correct that since my last airport prior to departing the EU is Brussels the paperwork HAS to be done there and not Rome?

[melrob1]

Originally Posted by rayven

Extremely helpful, thanks so much! I'll let you know if I end up pulling the trigger on something.

Heading to Florence, Rome, and Venice. How did you end up?

[WVG7]

Heading to Rome this weekend.

Does anybody of our Italian members have any recommended grey dealers for 5 digit Datejusts?

Thanks in advance!

[Drake3287]

Heading to Italy in a few days also. On my last larger purchase in Florence I simply took the completed paper work to the local Foreign Exchange office they pointed me to and they gave me my VAT money back in cash. From there they take your credit card info and give you the needed paper work for you to have stamped and dropped off at the VAT office at the airport.

If for some reason you don't drop off your stamped paper work when you depart they in turn charge your credit card bak for the VAT amount.

Definitely a pain in the butt but worth it depending on how much your paying in VAT.