Import duties and tax?

[Enzo954]

I'm considering buying from someone in Italy on Chrono24 and they would send the watch to me in the USA. It's not a very expensive piece, only a few grand.

Will I be subject to import duty fees or taxes on this item coming into the country? If so, is there a formula?

[beshannon]

https://www.cbp.gov/trade/basic-impo...rnet-purchases

[sportsfan0704]

I believe so. Fwiw I contacted a store in UK about buying something other than a watch and they told me no duties under 800 dollars (for the Order).


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[Enzo954]

Originally Posted by sportsfan0704

I believe so. Fwiw I contacted a store in UK about buying something other than a watch and they told me no duties under 800 dollars (for the Order).


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Yes, I know that $800 or below isn't subject to any fees.

[Nathan_]

You can ask the seller to remove VAT from the price as it's being exported.

I generally find 8/10 sellers (business, not individuals) will do this for me when buying internationally.

[Enzo954]

Originally Posted by Nathan_

You can ask the seller to remove VAT from the price as it's being exported.

I generally find 8/10 sellers (business, not individuals) will do this for me when buying internationally.

He removed the vat and gave me a discount. I'm just not sure how much $ I will have to pay in custom duties, taxes etc. on a $2k purchase. I found one calculator online that came up with $500 which sounds high to me.

[texasmade]

Originally Posted by Nathan_

You can ask the seller to remove VAT from the price as it's being exported.

I generally find 8/10 sellers (business, not individuals) will do this for me when buying internationally.

Would there still be VAT to remove if it's a used or grey market purchase? I thought VAT was only removed for new purchases straight from an AD/boutique.

[Nathan_]

Originally Posted by texasmade

Would there still be VAT to remove if it's a used or grey market purchase? I thought VAT was only removed for new purchases straight from an AD/boutique.

I have purchased both new and used items from grey businesses with VAT removed. I'm unfamiliar regarding the rules around VAT as you question, just my own personal experience.

[themast]

Originally Posted by Enzo954

He removed the vat and gave me a discount. I'm just not sure how much $ I will have to pay in custom duties, taxes etc. on a $2k purchase. I found one calculator online that came up with $500 which sounds high to me.

Not an expert but I did it once and on a $8k piece I think it was about $150 in import duties and $500 in state taxes (these are not withheld when you import it but you need to declare it to your State, not sure if this is the same for every State).

The import duties are tricky to calculate because I think they depend on the material for the case, the number of jewels in the movement, and other parameters that may not be that obvious.

[Aldwyn]

Originally Posted by themast

Not an expert but I did it once and on a $8k piece I think it was about $150 in import duties and $500 in state taxes (these are not withheld when you import it but you need to declare it to your State, not sure if this is the same for every State).

The import duties are tricky to calculate because I think they depend on the material for the case, the number of jewels in the movement, and other parameters that may not be that obvious.

Just bought something from Belgium on Chrono24 yesterday (for the first time in a couple of years) and was charged Maryland state sales tax... so at least with Maryland, it comes out in the final price.

But no VAT or import fees that I could see.

[edhahn44]

How is it handled the other way around, ie buying from the US within the EU?


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[MrSBU]

Originally Posted by edhahn44

How is it handled the other way around, ie buying from the US within the EU?


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It depends heavily on the EU country. For Denmark we usually add 30% to the listing price as a rule of thumb. This often means that a plane ride to the US is often cheaper than the import duties.. however stupid it may sound.