Hong Kong Questions

[lightcatcher]

Planning a trip to HK and was wondering what the odds of finding a reasonably priced (i.e. low gray premium) panda or Pepsi are? Everything I have been reading online indicates that the watch market there is in the doldrums but online prices of gray dealers still seem quite high.

Any recommendations of dealers to potentially visit to avoid being scammed? I will be in the Central area most probably.

Any other pointers most welcome!

Thanks much folks!

[htc8p]

try kuen kee watch . com i wouldnt get my hopes up

[wng88]

Not sure how much you mean by a low grey premium but if you’re looking for something new, I don’t think you’ll have much chance.


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[996marty]

Anything you want can be found in Hong Kong. I’m not sure what you mean with the low grey premium? Are you looking for one that’s like new and basically untouched?

[lightcatcher]

The steel Daytona’s seem to have a 100% premium, which I’m not too keen on paying.. might as well go PM on OF at these prices. So I was wondering if prices in HK have actually dropped where the premium on the panda steel Daytona charged by the grey dealers is a little more palatable?

[rolexnerd]

There will be no significant difference in grey market prices in Hong Kong compared to other regions. You’ll have plenty to choose from though

[moting]

It's a worldwide market

[ukbbc]

Japan is currently 20-25% higher than Singapore for Rolex GMTs and Daytonas. HK should be close to SG, if not better with a larger market.


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[SLWoodster]

Japan.

116500 panda with white card dropped as low as $25k with vat refund.

That’s the best I have seen last couple months.

Originally Posted by lightcatcher

Planning a trip to HK and was wondering what the odds of finding a reasonably priced (i.e. low gray premium) panda or Pepsi are? Everything I have been reading online indicates that the watch market there is in the doldrums but online prices of gray dealers still seem quite high.

Any recommendations of dealers to potentially visit to avoid being scammed? I will be in the Central area most probably.

Any other pointers most welcome!

Thanks much folks!

[daveeblows]

Hkg is great for grey market, try Union Classic Watch in Tst, I personally buy from them for years now, booth Central and Tsim Sha Tsui areas have 10-12 grey watxh shops with full stock it's pretty insane
Good luck hunting!


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[EWY]

Any watch purchased outside US and brought back to the States would be considered as a Gray Market watch in the States. If you purchased a Gray Market watch in HK and that watch was originated from the States and you take that watch back. That watch is not considered as a Gray Market watch in US.

[77T]

Originally Posted by EWY

Any watch purchased outside US and brought back to the States would be considered as a Gray Market watch in the States. If you purchased a Gray Market watch in HK and that watch was originated from the States and you take that watch back. That watch is not considered as a Gray Market watch in US.

All Rolex watches originate from Switzerland, then are shipped to a channel company in different global market zones. Then the watches are shipped for retail sale in the channel company's geographic zone. Country Codes only matter for that first sale by the AD. Resale is not regulated by any Rolex policy.

The guarantee is worldwide, if there was a problem it will be handled by the RSC or servicing AD where the owner resides (as long as the warranty card is presented).

In essence, there are no "gray" market sales using the classic market channel definition. What we see is actually secondary market resale.


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[dmash]

Originally Posted by 77T

All Rolex watches originate from Switzerland, then are shipped to a channel company in different global market zones. Then the watches are shipped for retail sale in the channel company's geographic zone. Country Codes only matter for that first sale by the AD. Resale is not regulated by any Rolex policy.

The guarantee is worldwide, if there was a problem it will be handled by the RSC or servicing AD where the owner resides (as long as the warranty card is presented).

In essence, there are no "gray" market sales using the classic market channel definition. What we see is actually secondary market resale.


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The term has become so grey (see what I did there) nowadays. ‘True’ grey market doesn’t exist for most brands anymore (where they sell out the back door without warranty, to move inventory). Omega still does it to some companies, but Rolex 100% not. People so commonly still try to say ‘grey market watch’ when in reality it’s EXACTLY, as you said, just a used watch on the secondary market.

[ecmgbob]

Honestly, I think one of our trusted sellers will be able to make you a better deal. I am in HKG 4-5 times per year. Haven't browsed over on the island; but Kowloon/Tsim Sha Tsui (Nathan Road area) has not impressed me with the pricing they offer. Seem to be 10% higher than someone like David SW. I have never really tried to hammer out a deal either so I don't exactly know how much they may discount from asking price either.

[wilsonpepper]

I think when considering a purchase in a "foriegn land" on must make the following considerations:

VAT
Exchange rate
Local Tax
Any other taxes and fees

For example it has been stated here that "Japanese prices were higher than US" however when you factor in the exchange rate, and zero tax, you end up with a very
competitive price scheme in Japan.

So everyone please consider all the factors when purchasing overseas, it's not just the "price"

[stockae92]

If I buy s Rolex in Japan for Japan AD warranty card, do I need to pay duty when I bring it back to US? How much would that be?

[wilsonpepper]

I wish I could give you an accurate answer to that. I have global entry. I did self report a Rolex watch purchase to a customs inspector on my way out the door in LAX, and he told me, "No big deal, please keep moving sir". So I did.

This has happened to me multiple times out of Japan, Australia, France, and the UK !

They must be looking for something much bigger than a $10k watch.

[samson66]

Originally Posted by EWY

Any watch purchased outside US and brought back to the States would be considered as a Gray Market watch in the States. If you purchased a Gray Market watch in HK and that watch was originated from the States and you take that watch back. That watch is not considered as a Gray Market watch in US.

Is this true when purchasing a brand new watch in HK? Would it void the warranty in the US?

[ninjin]

Warranty is nothing to do with TAX.

Warranty is offered by Rolex with the watch for the set period of time.

it is a WORLDWIDE warranty that any country's Rolex service centre will honour. That's why the warranty card is so important on nearly new watches that are still under warranty.

[Carlazzo]

One question, please...
If I buy a Rolex in HK new by an AD, is It possible to have Vat Refund or not? Is there Tax Free in Hong Kong ??
Thank you

[Old Expat Beast]

Originally Posted by Carlazzo

One question, please...
If I buy a Rolex in HK new by an AD, is It possible to have Vat Refund or not? Is there Tax Free in Hong Kong ??
Thank you

There is no sales tax on watches in Hong Kong. Rolex used to advertise this as a good reason to buy watches here, but nowadays the tax equivalent seems to be baked into the prices, which are similar to those elsewhere.

This advertisement is from 1981.

[Carlazzo]

Ok thanks a lot!!
I did not remember that advertisement... but it has already been posted !!

[hojlund]

Originally Posted by ecmgbob

Honestly, I think one of our trusted sellers will be able to make you a better deal. I am in HKG 4-5 times per year. Haven't browsed over on the island; but Kowloon/Tsim Sha Tsui (Nathan Road area) has not impressed me with the pricing they offer. Seem to be 10% higher than someone like David SW. I have never really tried to hammer out a deal either so I don't exactly know how much they may discount from asking price either.

you are absolutely wrong, hk grey dealers prices are way lower than davidsw can offer. you can get a 126500 panda at $30000 in hk.

[Flipmarine2k]

Originally Posted by hojlund

you are absolutely wrong, hk grey dealers prices are way lower than davidsw can offer. you can get a 126500 panda at $30000 in hk.

THIS, I found grey dealer in HK around the same prices as wholesale in the US sometimes even better, sometimes a little worse model dependent. Last year Purchased a z blue Milgauss 2021 mint full set for under 10k usd OTD. Ended up deciding to sell a few months later to a reseller and made almost $400

[Sumit1]

no need to go grey. just go to an AD and tell them that you want the watch. if you have good conversation skills - they will give the watch you want, you will be charged on 2 invoices - one for the watch msrp and one for the premium difference. so this way you get an absolutely new watch.

[hojlund]

Originally Posted by Sumit1

no need to go grey. just go to an AD and tell them that you want the watch. if you have good conversation skills - they will give the watch you want, you will be charged on 2 invoices - one for the watch msrp and one for the premium difference. so this way you get an absolutely new watch.

you need to know specifically which AD would do this kind of trade, only a few of them do this, you will be wasting a lot of time and effort.

[Sumit1]

Originally Posted by hojlund

you need to know specifically which AD would do this kind of trade, only a few of them do this, you will be wasting a lot of time and effort.

agree with that