People are really paying 70k on a 5711?

[Passionata]

Originally Posted by Keldw

Well, for a European those prices would make no sense as they would have to add roughly 30% in import taxes/VAT.

*Thats assuming the watches is not located in the EU.

true however for such a spread worth to buy a ticket to the US

[Keldw]

Originally Posted by Passionata

true however for such a spread worth to buy a ticket to the US

You would still have to pay to get them in to your country. And the trick of putting the watch on the wrist and having the accessories shipped very rarely works anymore.


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[Passionata]

Originally Posted by Keldw

And the trick of putting the watch on the wrist and having the accessories shipped very rarely works anymore.


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i wasn t aware of that .thanks for the heads up,.EU customs got more focused on watches do u think ?

[Keldw]

Originally Posted by Passionata

i wasn t aware of that .thanks for the heads up,.EU customs got more focused on watches do u think ?

I know for a fact they are. And they are not as dimwitted as we would like them to be :-)

I know of a few who got "caught" that way. So on top of the import/VAT you're also fined. In Denmark the fine is twice the amount of the import/VAT fee, so you basically have to pay that triple.

[4vCoupe]

Originally Posted by martinr

People are paying $400 for a t shirt that says Supreme on it!

That’s funny.


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[Commonproject]

Originally Posted by Keldw

You would still have to pay to get them in to your country. And the trick of putting the watch on the wrist and having the accessories shipped very rarely works anymore.


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I wear an expensive watch when I travel in and out of EU all the time and was never asked about it. What would they say? Let me see your watch? If you say you've always had it, then what?

[Fat_ninja]

Originally Posted by Commonproject

I wear an expensive watch when I travel in and out of EU all the time and was never asked about it. What would they say? Let me see your watch? If you say you've always had it, then what?

Cavity search ?

[WatchLurv]

Originally Posted by Commonproject

I wear an expensive watch when I travel in and out of EU all the time and was never asked about it. What would they say? Let me see your watch? If you say you've always had it, then what?

Nothing. You're American so you're not subject to VAT in the EU. Tell them to flipping do one.

[Keldw]

Originally Posted by Commonproject

I wear an expensive watch when I travel in and out of EU all the time and was never asked about it. What would they say? Let me see your watch? If you say you've always had it, then what?

I do too, and more often than not, more than one watch. But if customs open up a package with boxes, papers, certificate etc but no watch, it’s not hard for them to figure out what’s going on.

A few from the local watch scene had that happen to them. I suppose there is the odd chance of the accessories going in unnoticed, but imo it’s not worth the risk of getting caught.


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[Keldw]

Originally Posted by WatchLurv

Nothing. You're American so you're not subject to VAT in the EU.

Yes and no. If a US citizen bought from an AD in say Denmark, he would be entitled to a VAT refund.

On the other hand, if he bought let’s say a 1 day old unworn DaytonaC in stickers from a grey, he would have to pay import duties as greys sell with VAT margin scheme.


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[ufboy73]

Originally Posted by Keldw

Yes and no. If a US citizen bought from an AD in say Denmark, he would be entitled to a VAT refund.

On the other hand, if he bought let’s say a 1 day old unworn DaytonaC in stickers from a grey, he would have to pay import duties as greys sell with VAT margin scheme.


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But wouldn’t that VAT margin scheme amount be built into the purchase price (ie it’s not as if an american travelling abroad is subject to a customs fee at an international airport)?

[Keldw]

Originally Posted by ufboy73

But wouldn’t that VAT margin scheme amount be built into the purchase price (ie it’s not as if an american travelling abroad is subject to a customs fee at an international airport)?

Afraid not. Under - as an example. Danish law, the item is sold as an used item, without VAT = seller pays VAT of the profit.


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[pam66]

deleted

[Keldw]

Originally Posted by pam66

are you saying that people get stopped at airport customs for wrist checks? i have never seen that in all the travels that i do.

Actually I was stopped in customs in Copenhagen airport upon returning from Thailand, and asked if I bought the watch I wore (a two-tone Submariner) whilst on holiday. I could prove I purchased the watch in Denmark as I had a photo of the original receipt and certificate online in my Dropbox, so yes it does happen.

To be fair, it only ever happened once to me.

But basically I would say, if you put the watch on your wrist, there is a good chance it would go unnoticed. Trouble is getting the box, papers, certificate home with you.

Sure you could have it shipped, but there is a good chance of customs opening the package with the box and documents. And then basically you’re figured out.

I know some who did it successfully, but also of many more who didn’t.

Obviously there is almost bulletproof ways of getting around it, but I don’t think it is right to speculate on that subject on this forum.

Side note : English is obviously not my first language, so I apologize for misspellings and grammatical errors.


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[AK797]

Originally Posted by Keldw

Actually I was stopped in customs in Copenhagen airport upon returning from Thailand, and asked if I bought the watch I wore (a two-tone Submariner) whilst on holiday. I could prove I purchased the watch in Denmark as I had a photo of the original receipt and certificate online in my Dropbox, so yes it does happen.

To be fair, it only ever happened once to me.

But basically I would say, if you put the watch on your wrist, there is a good chance it would go unnoticed. Trouble is getting the box, papers, certificate home with you.

Sure you could have it shipped, but there is a good chance of customs opening the package with the box and documents. And then basically you’re figured out.

I know some who did it successfully, but also of many more who didn’t.

Obviously there is almost bulletproof ways of getting around it, but I don’t think it is right to speculate on that subject on this forum.

Side note : English is obviously not my first language, so I apologize for misspellings and grammatical errors.


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Why do you say good chance of the box package being opened? What would give them cause?

[Keldw]

Originally Posted by AK797

Why do you say good chance of the box package being opened? What would give them cause?

I don’t work in customs, so wouldn’t know their way of working. But hey, it happens.

It also depends on shipping method and willingness of taking risks. But if a danish grey sells a watch to a non eu citizen and and they ship with fedex, that have to include a full value invoice in order to ship it fully insured. Add to that a bast#rd watch work sheet when shipping to the US.


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[locutus49]

Some person just listed a 5711 on the forum for 75K. So there is the answer to your question.

[V25V]

Originally Posted by locutus49

Some person just listed a 5711 on the forum for 75K. So there is the answer to your question.

Asking price and selling price are two different things. And most that have listed have been sitting.

[Fat_ninja]

Originally Posted by V25V

Asking price and selling price are two different things. And most that have listed have been sitting.

If you say it one more time. People might understand. Lol

[V25V]

Originally Posted by Fat_ninja

If you say it one more time. People might understand. Lol

Seriously. Where is the dead horse emoji?

[ts3]

Originally Posted by AK797

Why do you say good chance of the box package being opened? What would give them cause?

Pretty much any package I get shipped from outside the EU is held up at customs for me to go there, open it in front of their eyes, and pay VAT and import fees as required.

[TJMike]

Originally Posted by locutus49

Some person just listed a 5711 on the forum for 75K. So there is the answer to your question.

And a white dial 5711 just got sold for $54k or less. Even with the blue dial being more hotter, $70k or above for one is a real reach.

[Mike Jab]

If there's no proof of payment, they can't ask you to pay taxes.

[AK797]

Originally Posted by ts3

Pretty much any package I get shipped from outside the EU is held up at customs for me to go there, open it in front of their eyes, and pay VAT and import fees as required.

The last few packages I've gotten from abroad on which I had to pay VAT I just had to collect from the post office and pay the fee. If you just send the box then the value on the package is really nothing as there is no real market value on the box so you can put anything including a low figure and not even pay any VAT if you want no hassle. I just don't see how shipping the box and papers is much of a risk at all, at least into the UK.

[coolaking]

Watchfinder in UK offer £55k for 5711/1a that's a grey dealer buying price - almost $70k at todays rate

[Fat_ninja]

Originally Posted by TJMike

And a white dial 5711 just got sold for $54k or less. Even with the blue dial being more hotter, $70k or above for one is a real reach.

The halo is shrinking

[V25V]

Originally Posted by Fat_ninja

The halo is shrinking

Yeah, I think so. Nautinauts are sitting a while now, all of them. Think Tranh did move a blue 5711 but he has had a 5164a on for a while now sitting. I hope it is in fact happening, will make it much easier for us to get what we want and the AD's will lose their "power". I am more than happy with my AD but the stories I see on here are absurd.....

[AK797]

Originally Posted by coolaking

Watchfinder in UK offer £55k for 5711/1a that's a grey dealer buying price - almost $70k at todays rate

Not for these but maybe for a £70k blue 2018/19.

https://www.watchfinder.co.uk/search?q=5711

[ts3]

Originally Posted by AK797

The last few packages I've gotten from abroad on which I had to pay VAT I just had to collect from the post office and pay the fee. If you just send the box then the value on the package is really nothing as there is no real market value on the box so you can put anything including a low figure and not even pay any VAT if you want no hassle. I just don't see how shipping the box and papers is much of a risk at all, at least into the UK.

Germany is different, at least in my experience.

If you receive a box only the guys at customs would go on ebay or Chrono24 and establish some value - a few hundred EUR - and use that as a basis for their fee calculation. You pay and all is well apart from the long drive to customs on the outskirts of town.

If a shipment includes box and papers they'd likely start asking questions...

[yoast]

Originally Posted by V25V

Yeah, I think so. Nautinauts are sitting a while now, all of them. Think Tranh did move a blue 5711 but he has had a 5164a on for a while now sitting. I hope it is in fact happening, will make it much easier for us to get what we want and the AD's will lose their "power". I am more than happy with my AD but the stories I see on here are absurd.....

Totally agree, Make watch flipping great again!