Cheaper to buy watches in Europe or US?

[bakeacookie]

I'm eyeing a couple watches from Omega and Hermes. The VAT refund makes cheaper, plus the European prices are slightly cheaper overall.

But I'm concerned about duties coming back. Will the duty charges eliminate the savings from the VAT refund?

Does anyone have any experience buying watches in Europe then coming back home in the US? I've read a few posts where it's not like leather goods where the savings is worth it.

 

[na294]

Just googled and it seems that import duties are lower than the VAT refund percentage.

http://www.dutycalculator.com/popular-import-items/import-duty-and-taxes-for-watch/

Also if you declare there are high chances that the customs officer waives you off. You also have a 800 dollar exemption so you only pay any duty on top of that.

 

[bakeacookie]

I'll have to check the calculator but when reading info on it, you have to know what percentage of the price goes to each part of the watch.

 

[Christofle]

I'm eyeing a couple watches from Omega and Hermes. The VAT refund makes cheaper, plus the European prices are slightly cheaper overall.

But I'm concerned about duties coming back. Will the duty charges eliminate the savings from the VAT refund?

Does anyone have any experience buying watches in Europe then coming back home in the US? I've read a few posts where it's not like leather goods where the savings is worth it.

As of right now, you might actually save a significant amount of money purchasing from Canada due to the devalued dollar, since many watch retailers haven't adjusted their prices yet. I'd check to confirm.

 

[bakeacookie]

As of right now, you might actually save a significant amount of money purchasing from Canada due to the devalued dollar, since many watch retailers haven't adjusted their prices yet. I'd check to confirm.

Even with shipping and taxes? I'll have to check that out!

 

[Christofle]

Even with shipping and taxes? I'll have to check that out!

Well a lot of watches are still priced dollar for dollar so just on exchange rate you can potentially save 30% so if you plan on purchasing a pricy watch, shipping becomes negligible. The only thing to consider is that you will lose the discount for paying cash since you would probably be paying via credit card. I don't think import taxes are anywhere near 30%.

 

[Christofle]

Even with shipping and taxes? I'll have to check that out!

PS: Check out dealers in Alberta as the sales tax is the lowest in the country there, so you could potentially get your best deal there.

 

[LVoeletters]

Well a lot of watches are still priced dollar for dollar so just on exchange rate you can potentially save 30% so if you plan on purchasing a pricy watch, shipping becomes negligible. The only thing to consider is that you will lose the discount for paying cash since you would probably be paying via credit card. I don't think import taxes are anywhere near 30%.

PBI: What type of watches may I ask? Like the typical Rolex/Cartier etc. ?

 

[Christofle]

PBI: What type of watches may I ask? Like the typical Rolex/Cartier etc. ?

Anything priced about 5000 and above, but the real deals are to be had in the 5+ digit range. But unfortunately I've talked to some dealers and they are already starting to update their price lists.

 

[mybeautelab]

I've recently been to Italy and checked a Rolex i wanted, but apparently my friend got the same watch for $1000 cad cheaper in Canada compared to the price got in Europe which was already after the vat refund.