Gmt 116710ln

[mr ling]

Hi everyone,

I hope this is the right forum - my apologies if it is not.

So I'm honeymooning in London, and I have the bug to nab the above referenced GMT II. I found a new one black on black. Since I can get a VAT refund, I only have to deal with the exchange rate. I was considering duty free at Heathrow, but the salesman of course states sport models are a hard find there. I have no idea if that is the case at this point. I'm not opposed to buying used either, so if anyone knows any good spots around town, please let me know. I've been looking online, but there are so many and it's daunting to pick ones where I won't be wasting my time.

Excluding VAT and at GBP:USD 1:1.50 (just what I asked him to use) it came out to $7,350. Knowing that I can buy back home without tax, does that seem like a good deal?

I've been trying to research if it's even a good idea to purchase here vs. the US - thoughts?

Thanks!

[jagwap]

He is right that the sports models are rare at the airport.

If you are buying from a retailer, it is unlikely you will get all of the tax back at the airport, as the shop usually use an agent for the TAX refund, Global Blue. The higher the cost the larger the refund, but I think you will only get about 17% back (TAX is 20% in the UK)

I did exactly this as I am a UK citizen, declared non resident, and bought a a GMTIIc LN, five years ago (I told you I did exactly this!).

So the RRP is 5600GBP. You should get a little off for an old model. Plus take off 17%. I think you can do better.

[mr ling]

Thank you for the input. He did say TD about 13% off due to VAT refund so that sounds about right.

Any suggestions on where to look? Leaving Westfield now and headed to Selfridges and FM.

Cheers!

[AK797]

From Selfridges walk slowly down Bond Street, pop into a few shops and Burlington Arcade.

[dera]

A few days ago the only sports model Heathrow had at T5 was a Milgauss Green.

[Annan]

I really can't offer much advice other than to say $7350 is a good price for that model. If you are willing to use one of the trusted TRF sellers like DavidSW, Bodybump (Oscar), JustRolexes (Tony Geha), etc. you can get a BNIB for very close to that same price and pay no tax.

[T. Ferguson]

Congratulations on your marriage.

That's a decent price for BNIB, consistent with what I've seen here on TRF, though you can get a used one in great condition (probably within warranty) for less here. VAT tax aside, keep in mind any duty you'd owe on entry back to the USA. You can avoid this buying domestically.

You didn't mention if you are already wearing Rolex, but if you are just make sure that between you and your bride you're only coming back with two of them and throw one of 'em on her wrist.

[mr ling]

Many thanks all! The wifey is good to go :) I had one but alas, no more. I will most likely purchase through here, but I'm on the hunt, even if just for the fun of it. VAT refund is something I rather not deal with. I'd love to find a place that will deal on account of VAT. I know it's next to impossible with ADs. I'm not against buying used, but that price for bnib really wasn't bad.

How unrealistic is $6,3-6,500 USD?

[T. Ferguson]

Originally Posted by mr ling

Many thanks all! The wifey is good to go :) I had one but alas, no more. I will most likely purchase through here, but I'm on the hunt, even if just for the fun of it. VAT refund is something I rather not deal with. I'd love to find a place that will deal on account of VAT. I know it's next to impossible with ADs. I'm not against buying used, but that price for bnib really wasn't bad.

How unrealistic is $6,3-6,500 USD?

Unreasonable for BNIB, probably doable used depending on condition and age. Here's a search of the for sale forum for 116710 (some of these will be BLNRs but it should help you get started):

http://www.rolexforums.com/search.php?searchid=12350647

[dera]

Originally Posted by mr ling

Many thanks all! The wifey is good to go :) I had one but alas, no more. I will most likely purchase through here, but I'm on the hunt, even if just for the fun of it. VAT refund is something I rather not deal with. I'd love to find a place that will deal on account of VAT. I know it's next to impossible with ADs. I'm not against buying used, but that price for bnib really wasn't bad.

How unrealistic is $6,3-6,500 USD?

VAT refund is easy, a complete non-issue.
6300USD is realistic for 116710 in Europe assuming a full VAT refund.

[mr ling]

Walking down Oxford now. Only one store so far. Was higher than the first. I suppose I should see if they will haggle.. Hopefully I find something.

[Gmt9]

There are a few Stores on Bond Street, watch club do some second hand pieces. There is also a large Rolex Ad on Bond Street. Try Regents Street for a large watch store - watches of Switzerland. Good luck.

[mr ling]

Thank you. I will check out some more in a few days i.e. an arcade, back to Regents.. I didn't have luck at Watches of Switzerland. They didn't have it in stock and it was a lot $30 USD more.

[jseng27]

Check out Wempe on new bond st, they give the highest VAT back as far as I know.

[bcgooner]

Watch Club have got a pre-owned for £4500 they're based in Royal Arcade near the bottom of Old Bond St

http://www.watchclub.com/our-watches...l-complete-set

[mr ling]

I passed Wempe after they were closed. I am going to go back in the next couple of days, so I will definitely check out Wempe and the Royal Arcade. Upon further review, it seems as though the price of ~$7,350 USD BNIB at Westfield isn't too bad. I wonder if they would have any wiggle room, although I doubt it.

[mr ling]

Quick question -- without creating a new post: I've been researching and am coming up empty. As a US resident, am I better off purchasing a Rolex: At an AD that will do a VAT refund and perhaps negotiate, through Duty free at LHR provided the model was in stock, or perhaps on the US and avoid sales tax, VAT refunds, and customs nightmares all together?

I did happen to find the cheapest AD out of WOS and another store in Westfield - Mallory in Bath.

[GermanyMatt]

Given the money is about the same between a TRF seller and what you're finding in the UK, I would buy in the UK. It's your honeymoon and will mean more to you.

[T. Ferguson]

Originally Posted by mr ling

Quick question -- without creating a new post: I've been researching and am coming up empty. As a US resident, am I better off purchasing a Rolex: At an AD that will do a VAT refund and perhaps negotiate, through Duty free at LHR provided the model was in stock, or perhaps on the US and avoid sales tax, VAT refunds, and customs nightmares all together?

I did happen to find the cheapest AD out of WOS and another store in Westfield - Mallory in Bath.

In that context I'd think buying domestically out of state is the simplest and least hassle than having to fill out forms etc. to get a refund. And unless you're traveling to an area where Rolex would be significantly cheaper (i.e. exchange rate or rampant discounting compared to the USA) it's tough to beat the pricing from some of the grey dealers like those here.

[bbressler]

Originally Posted by mr ling

Quick question -- without creating a new post: I've been researching and am coming up empty. As a US resident, am I better off purchasing a Rolex: At an AD that will do a VAT refund and perhaps negotiate, through Duty free at LHR provided the model was in stock, or perhaps on the US and avoid sales tax, VAT refunds, and customs nightmares all together?

I did happen to find the cheapest AD out of WOS and another store in Westfield - Mallory in Bath.

Just remember that "Duty Free" means no duties for the country you purchase in. You will still have to declare the purchase and possibly pay duties upon entering the US.

If it is about the same cost as an out-of-state TRF trusted seller, I would just buy at home to avoid any headaches. If its like $1000 cheaper to buy with VAT refund in UK, do that

[mr ling]

The cheapest I've found in UK with a VAT refund is £4.816 at an exchange rate of £1:$1.50 that's $7,224. Not a great deal IMO. I'm not seeing any grey market deals that seem that good when comparing that I could spend - ideally, a few hundred more for a new Rolex with a warranty.

[mr ling]

So I've concluded that the maximum VAT refund is 14%. That would mean that the watch would need to be priced at £4,800 exclusive of the VAT refund to get to $6,300 USD at the exchange rate I'm factoring.

Of the grey market GMT II's I've found, the prices do not warrant a purchase, when a few hundred more can be spent for BNIB. Any recommendations for Stateside ADs not in Missouri?


Thanks in advance.