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pathai · 13 January 2018, 12:28 AM

I am often in Hong Kong and plan to visit Scandinavia this summer. I have noticed at huge difference in Rolex prices from Hong Kong to most Scandinavian countries. I am guessing it is mainly due to high tax/vat (25%)

Was thinking of buying a popular Rolex model while in HK and then selling while in Denmark. For the buyer there would be a nice saving and I could get some of my travel costs covered.

It this a good idea or not?

beshannon · 13 January 2018, 01:15 AM

How much import duty will you have to pay when declaring it in Denmark?

REFZ · 13 January 2018, 01:18 AM

This would be too easy...

psv · 13 January 2018, 01:28 AM

Good idea in theory but how would you sell it DK? Why would trust you? How would you handle payment? How do you ensure your own safety in showing up with Rolex watches? How would you import brand new watches into the country - your bags will be searched before entering?

Move on.

pilotjim · 13 January 2018, 01:30 AM

You could probably get away with not declaring a watch....especially if you are wearing it.

Old Geezer · 13 January 2018, 01:35 AM

You could possibly sell a used watch and make a small profit but I’d be cautious bringing in a BNIB watch. Breaking customs laws is frowned upon.

beshannon · 13 January 2018, 01:51 AM

Quote:

Originally Posted by pilotjim

You could probably get away with not declaring a watch....especially if you are wearing it.

Importing a product into the US without declaring it is a Federal crime.

Importing a product into the US without declaring it for the purpose of resale is several Federal crimes.

I cannot comment on the Import and Customs laws of Denmark but I would not suggest trying it.

vladamir15 · 13 January 2018, 01:55 AM

Quote:

Originally Posted by beshannon

Importing a product into the US without declaring it is a Federal crime.

Importing a product into the US without declaring it for the purpose of resale is several Federal crimes.

I cannot comment on the Import and Customs laws of Denmark but I would not suggest trying it.

+1 not worth the hassle for such little profit

pilotjim · 13 January 2018, 02:09 AM

Quote:

Originally Posted by beshannon

Importing a product into the US without declaring it is a Federal crime.

Importing a product into the US without declaring it for the purpose of resale is several Federal crimes.

I cannot comment on the Import and Customs laws of Denmark but I would not suggest trying it.

Well, I confess I sneaked in some Cuban Montecristos once from the Bahamas, lol.

I doubt any customs agent will jack you up over a watch on your wrist. If you tell him you're importing it to sell....well that would just be dumb.

troways · 13 January 2018, 02:27 AM

buying a popular Rolex model (list price) in HK is not easy.

Sprta · 13 January 2018, 02:39 AM

How would anyone know when you bring in a watch from another country that you want to sell it unless you tell them.

Ad11wrd · 13 January 2018, 02:44 AM

Quote:

Originally Posted by troways

buying a popular Rolex model (list price) in HK is not easy.

Maybe the box and papers would give you away.

joli160 · 13 January 2018, 02:54 AM

Quote:

Originally Posted by pilotjim

Well, I confess I sneaked in some Cuban Montecristos once from the Bahamas, lol.

I doubt any customs agent will jack you up over a watch on your wrist. If you tell him you're importing it to sell....well that would just be dumb.

In Europe they might, custom regulations are strictly enforced. If you are "lucky" you need to pay VAT + import duties which is 30% and an added bonus of 100% fine for failure to declare. Custom officers are employed by the tax department and their main interest lies with collecting taxes. It's the sole reason for their existence.

AK797 · 13 January 2018, 03:14 AM

If you can a make a profit after all taxes are paid then why not, esp if it gets you to eat at Noma, which is a must.

Sprta · 13 January 2018, 05:04 AM

Not worth the trouble

pilotjim · 13 January 2018, 05:40 AM

Quote:

Originally Posted by joli160

In Europe they might, custom regulations are strictly enforced. If you are "lucky" you need to pay VAT + import duties which is 30% and an added bonus of 100% fine for failure to declare. Custom officers are employed by the tax department and their main interest lies with collecting taxes. It's the sole reason for their existence.

That would pretty much wipe out your profit margin....even without the 100% fine.

MonBK · 13 January 2018, 05:43 AM

Quote:

Originally Posted by AK797

If you can a make a profit after all taxes are paid then why not, esp if it gets you to eat at Noma, which is a must.

Even without taxes paid there won't be enough profit to eat at Noma.

stockae92 · 13 January 2018, 06:09 AM

If you plan on asking for advice to break custom / import law of certain countries, the answers are always "No".

But there's always the Dark Web for this kind of questions :D

AK797 · 13 January 2018, 06:37 AM

Quote:

Originally Posted by MonBK

Even without taxes paid there won't be enough profit to eat at Noma.

OK, first course.

tng11 · 13 January 2018, 06:41 AM

Quote:

Originally Posted by AK797

OK, first course.

I'm sure you can have only the first course and leave, but you'll still pay the price for the full menu.

Seriously though, I ate at Noma when I was a student in Copenhagen and paid full freight, only to now discover on the relaunch that they have a heavily discounted price for students.

AK797 · 13 January 2018, 06:43 AM

Quote:

Originally Posted by tng11

I'm sure you can have only the first course and leave, but you'll still pay the price for the full menu.

Seriously though, I ate at Noma when I was a student in Copenhagen and paid full freight, only to now discover on the relaunch that they have a heavily discounted price for students.

Not if you put a hair on your plate, which I never do.

He had a pop up in London a while back, but I missed it. How was the food? Best in the world?

tng11 · 13 January 2018, 06:54 AM

Quote:

Originally Posted by AK797

Not if you put a hair on your plate, which I never do.

He had a pop up in London a while back, but I missed it. How was the food? Best in the world?

It's innovative and a distinct style - food and ingredients prepared in ways I would have never imagined. I don't think it's food that's for everyone (e.g. not everyone at my table was thrilled by the ants in beef tartar), nor is it the kind that is "excellent comfort food where you must go back every month." The service and staff were absolutely impeccable, and the kitchen tour and conversations with some of the young kitchen staff who explained their craft was really special. It was definitely one of the most special and memorable meals of my life.

In Copenhagen, there are plenty of other excellent restaurants that think the same way Noma does, and produce food just as, if not tastier and more innovative (namely, Geranium, AOC, Relae and Studio) and are a lot easier to get reservations at. Dare I say, I think I enjoyed my meal at Geranium more than Noma, hype aside.

So my long-winded answer is, no, I don't think it was the best food in the world I've had. I think that crown for me belongs to Sushi Saito in Tokyo (I'm a huge sushi fan), and possibly Eleven Madison Park in NYC.

SeaDweller50 · 13 January 2018, 06:57 AM

Prefer Wagamama’s personally.

Rolexfanboy82 · 13 January 2018, 07:31 AM

AD prices are not that bad here.. When $US is weak compared to € and if you already planed a trip to US, yes then there is a bit of dough to be spared.. But the watch’s im looking at, (SS models) are just as difficult to get in US as here

AK797 · 14 January 2018, 12:08 AM

Quote:

Originally Posted by tng11

It's innovative and a distinct style - food and ingredients prepared in ways I would have never imagined. I don't think it's food that's for everyone (e.g. not everyone at my table was thrilled by the ants in beef tartar), nor is it the kind that is "excellent comfort food where you must go back every month." The service and staff were absolutely impeccable, and the kitchen tour and conversations with some of the young kitchen staff who explained their craft was really special. It was definitely one of the most special and memorable meals of my life.

In Copenhagen, there are plenty of other excellent restaurants that think the same way Noma does, and produce food just as, if not tastier and more innovative (namely, Geranium, AOC, Relae and Studio) and are a lot easier to get reservations at. Dare I say, I think I enjoyed my meal at Geranium more than Noma, hype aside.

So my long-winded answer is, no, I don't think it was the best food in the world I've had. I think that crown for me belongs to Sushi Saito in Tokyo (I'm a huge sushi fan), and possibly Eleven Madison Park in NYC.

I get what you mean. I've eaten at Heston Blumenthal's Fat Duck, which was one of the pioneers of molecular gastronomy and the food was very creative and was very interactive and came with props, and it really was dinner and a show, but ultimately I have had better tasting food at other more conventional restaurants.

London have some nice sushi too, had this creative platter at Umu last year, highly recommended.

hbombkid · 14 January 2018, 12:33 AM

Quote:

Originally Posted by joli160

In Europe they might, custom regulations are strictly enforced. If you are "lucky" you need to pay VAT + import duties which is 30% and an added bonus of 100% fine for failure to declare. Custom officers are employed by the tax department and their main interest lies with collecting taxes. It's the sole reason for their existence.

Haha

Has nothing to do with preventing bad people / goods etc from entering the country.

. What’s the tax cost for customs to look the other way? As long as they collect money it’s ok right hahaha???

Serious though to the OP. I just don’t think this would be worth it.

I have joked and said man I should take a couple SS Subs over to the UK, but now with rising costs I just don’t see a way you could seriously profit, or enough profit that doing all this effort would be worth it.

I would think if there was a way to profit the big trusted sellers would already be doing this. Maybe they do and just keep it quiet.

MonBK · 14 January 2018, 12:49 AM

Quote:

Originally Posted by AK797

London have some nice sushi too, had this creative platter at Umu last year, highly recommended.

I'd be happy to eat that.

Danny83 · 14 January 2018, 12:51 AM

I dont see why not

tavv160 · 14 January 2018, 01:15 AM

Me too I am in HK every few months for work and have tried to work this out. The steel sports models are difficult to find at the official Rolex shops there, and the grey dealers are asking more or less same price as European dealers so there will not be a profit possible unfortunately. The other models most dealers in Europe also tend to give discount on, so not worth it.

Spoonage · 14 January 2018, 01:21 AM

Quote:

Originally Posted by MonBK

Even without taxes paid there won't be enough profit to eat at Noma.

Last time I was in Copenhagen Noma was closed... I think they are renovating or moving locations... The Papermarket closed in December also.

13 January 2018, 12:28 AM	#1
pathai "TRF" Member Join Date: Jan 2018 Location: Thailand Posts: 32	Buy in Hong Kong. Sell in Denmark... I am often in Hong Kong and plan to visit Scandinavia this summer. I have noticed at huge difference in Rolex prices from Hong Kong to most Scandinavian countries. I am guessing it is mainly due to high tax/vat (25%) Was thinking of buying a popular Rolex model while in HK and then selling while in Denmark. For the buyer there would be a nice saving and I could get some of my travel costs covered. It this a good idea or not?

13 January 2018, 01:15 AM	#2
beshannon "TRF" Member Join Date: Jun 2009 Real Name: Brian Location: Northern Virginia Watch: One of Not Many Posts: 17,895	How much import duty will you have to pay when declaring it in Denmark? __________________ 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

13 January 2018, 01:18 AM	#3
REFZ "TRF" Member Join Date: Dec 2012 Real Name: Martin Location: Netherlands Watch: The Rolex Way Posts: 1,471	This would be too easy... __________________ 114060 - 116520 - 126334

13 January 2018, 06:09 AM	#18
stockae92 "TRF" Member Join Date: Oct 2009 Location: Socal Posts: 4,883	If you plan on asking for advice to break custom / import law of certain countries, the answers are always "No". But there's always the Dark Web for this kind of questions :D __________________ 135 ├┼┼╕ 246 R

13 January 2018, 07:31 AM	#24
Rolexfanboy82 "TRF" Member Join Date: Apr 2016 Real Name: Pierre Location: Denmark Watch: Rolex 16750 Posts: 133	Do you take orders?? AD prices are not that bad here.. When $US is weak compared to € and if you already planed a trip to US, yes then there is a bit of dough to be spared.. But the watch’s im looking at, (SS models) are just as difficult to get in US as here

13 January 2018, 01:28 AM	#4
psv "TRF" Member Join Date: Oct 2009 Location: North America Posts: 11,062	Good idea in theory but how would you sell it DK? Why would trust you? How would you handle payment? How do you ensure your own safety in showing up with Rolex watches? How would you import brand new watches into the country - your bags will be searched before entering? Move on.

13 January 2018, 01:30 AM	#5
pilotjim "TRF" Member Join Date: Dec 2017 Real Name: Jim Location: Mass Watch: BLNR Posts: 439	You could probably get away with not declaring a watch....especially if you are wearing it.

13 January 2018, 01:35 AM	#6
Old Geezer "TRF" Member Join Date: May 2015 Location: Earth Watch: 126619LB and more Posts: 5,207	You could possibly sell a used watch and make a small profit but I’d be cautious bringing in a BNIB watch. Breaking customs laws is frowned upon.

13 January 2018, 02:27 AM	#10
troways "TRF" Member Join Date: Aug 2016 Location: Far East Asia Posts: 124	buying a popular Rolex model (list price) in HK is not easy.

13 January 2018, 02:39 AM	#11
Sprta "TRF" Member Join Date: Oct 2017 Location: USA Posts: 457	How would anyone know when you bring in a watch from another country that you want to sell it unless you tell them.

13 January 2018, 03:14 AM	#14
AK797 2024 Pledge Member Join Date: Feb 2010 Real Name: Neil Location: UK Watch: ing ships roll in Posts: 59,225	If you can a make a profit after all taxes are paid then why not, esp if it gets you to eat at Noma, which is a must.

13 January 2018, 05:04 AM	#15
Sprta "TRF" Member Join Date: Oct 2017 Location: USA Posts: 457	Not worth the trouble

13 January 2018, 06:57 AM	#23
SeaDweller50 "TRF" Member Join Date: Feb 2012 Real Name: Sandy Location: England. Watch: 14060M 2 liner Posts: 3,204	Prefer Wagamama’s personally.

14 January 2018, 12:51 AM	#28
Danny83 2024 ROLEX DATEJUST41 Pledge Member Join Date: Sep 2013 Real Name: Danny Location: Bay Area CA Watch: Yellow Gold Posts: 20,164	I dont see why not

14 January 2018, 01:15 AM	#29
tavv160 "TRF" Member Join Date: Jan 2013 Real Name: Tony Location: UK Watch: AP, Rolex, JLC... Posts: 631	Me too I am in HK every few months for work and have tried to work this out. The steel sports models are difficult to find at the official Rolex shops there, and the grey dealers are asking more or less same price as European dealers so there will not be a profit possible unfortunately. The other models most dealers in Europe also tend to give discount on, so not worth it. __________________ Kind Regards, Tony.

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