Rolex Watch Situation at Heathrow Airport Authorized Dealer
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- Опубліковано 29 лис 2024
- Hi there this is Watch Fan Henry and I recently had the opportunity to pass through London Heathrow‘s Terminal 2 where I paid a visit to the Rolex Authorized Dealer in the main plaza in departures hall. I wanted to learn what watches might be available for purchase, and what order times might be for some of the more desirable sports models like the GMT-Master and the luxury model a Datejust 41. I also learned about the VAT tax on Rolex watches in the UK and how this would be a detracting factor for any purchaser resident outside of the UK, as I explain in my video. If you’re new to my channel, my passion is all things to do with Rolex watches. Please do subscribe to keep up-to-date on all my latest videos. 
Interesting. UK VAT rate for watches is 20%, there is no 17% rate for any items. I was at same boutique in August and added my name for an Explorer 2 but I am already a Watches of Switzerland customer (WoS run the LHR Rolex boutiques). The other issue is that if you are ‘lucky’ enough to ‘get the call’ from a LHR boutique then you have 7 days to get to LHR to pay and collect the watch; they will not ship the watch to you. I’m not sure how these UK Rolex boutiques in airports actually make any sales 😅
Fantastic comments!! They never mentioned to me that they only hold the watch for 7 days. But it totally makes sense as I appreciate the inventory can’t be held for too long. It’s a shame they can’t ship because that would expand their sales and be appealing to people like me, that don’t live in London or frequent Heathrow airport within the seven day period. I should also mention that I passed through Heathrow airport as a transit passenger several times over the past few years. Each time I would visit the Rolex Boutique they would never have men’s watches for sale, and I was curious how they could afford to pay the rent … month after month after month without selling. I guess being owned by Watches of Switzerland, the Heathrow shop is subsidized from the sales of their other watch brands at their other shops. It must’ve been a very expensive subsidy. Also, as you still have to wait half a year to two years for a decent men’s watch they can’t be moving a lot of revenue through the Heathrow store either .. even now. It’s not a lucrative business over the past several years.
@@WatchFanHenry Harrods pulled out their watch store from T2 during the pandemic and have not re-opened. I would've thought it made more sense for WoS to open a general store at T2 alongside the Rolex store or instead of. But I'm guessing WoS will be placating Rolex for the foreseeable since the Bucherer buy out.
It's not that the VAT rate is 17%, it's the VAT makes up approximately 17% of the gross price. A £1,000 tax inclusive watch will be made up of £833 net + £167 (VAT @20% on £833) = £,1000. £167 is approximately 17% of the £1,000. So he would be getting 17% 'off' the total tax inclusive cost.
And there is no VAT in the airport - that is why it is called tax free shopping. They just keep the tax.
@@andrewchapman2738 not the case in the UK since 2021. UK Government ended tax free shopping on luxury goods.
From Watches of Switzerland CEO: “CEO Brian Duffy told the Standard that sales at showrooms in Heathrow and Gatwick were still only “40% to 50% of what it was”, and added that the removal of VAT-free shopping had an especially big impact on its airport business. He added that some of the impact was also due to the group “pulling back” on the number of watches from Rolex, always among the most in-demand brands, it stocks at the airport showrooms because of supply changes.”
Thank you for this report !
I was there in Sep and they had a few men's watches including a DJ41. the models there are limited and I don't think the price is worth it once you add in tax.
Wow I am impressed!!!! You hit them at the magic moment. For a Canadian, the double tax would not make sense for me personally.. but good sign they had some men’s inventory.
I’m in Australia. You can claim the 10% GST. At the airport at the GST office. But you only have a certain amount of time to do it. But you should bear in mind you have to pay import duties in your own country. On landing.
Well, that’s nice news to hear that Australia will give the GST refund on a watch. Yes exactly that is true … I will have to pay the duty and tax here on arrival in Canada. My point is that I didn’t want to be paying this tax in full twice, which would be the case if they did have a watch available to sell me at the Heathrow Rolex AD. This is because the UK no longer does VAT refunds in the world of post Brexit, which is a shame.
My local AD has full display of watches, plus many inside the showcases. I live in Canada.
Can you PLEASE 🙏🙏 ask if any of the watches are actually for sale .. this is the $64,000 question.
@@WatchFanHenry I am in the GTA, if you ever in town let me know. What model you looking?
Excellent information! 17% tax, no thanks.
Glad it was helpful! I only became aware of this unfortunate double taxation for us Canadians (watch shopping in the UK) very recently. Earlier this year on my trip the UK I had no idea that this was the case. I thought that I could get the VAT back at the airport before departing back to Canada … not so!
Hi
Our V A T is 20% not 17% and they watches are old new stock YES stock that hasn’t sold via ADs in the high street.
Did go in to they shop at terminal 2 Heathrow a few years a go they tried pushing older models but the moment I said they were old new stock they walked away.
Thanks any way for an interesting vlog.
Thank you very much for clarifying this as I’ve had a few people message me that the VAT is 20%. It is a shame that post Brexit we can’t get the VAT back being a foreigner, purchasing a watch in the UK. To be very honest, there are certain models that I would like such as an Air King, Milligauss, GMT Master (in my dreams!) and entry level Skydweller that I would happily take in a new condition, but old stock at the list price. I guess we just need to wait another year or two for Rolex to build more watches, and for them to trickle down into the system.
VAT makes up approximately 17% of the gross (tax inclusive price). So the price reduces by 16.66% when you 'take the tax off'. Work it back the other way and calculate VAT at 20% on the net price to get the original gross. e.g. the VAT component of a £1,000 watch is £167 (£833 x 20%). £167 as a percentage of £1,000 is approximately 17%.
They do have Rolex for sale sometimes at T5.
Really!! I have never been transit at T5. May I ask .. do you remember what models they had availability for as I think some airport ADs have lady’s watches available quite often now.
6 weeks ago i asked, yellow gold sky dweller was available at T5.@@WatchFanHenry
So to be clear the price of a Watch in this store is 17% less than the same watch in a London Rolex Dealer ? Or do you pay the same price and then submit the paperwork to get a refund for the VAT as you do when you leave the UK ?
No, this is not correct what you had stated, please let me explain. All Rolex authorized dealers in UK have the same price which includes UK’s VAT tax. But the tax-free refund scheme for travellers was dropped by the UK government after Brexit. Therefore, this means there is no more duty free shopping on items like a Rolex watch. In the past before Brexit, if you purchased a Rolex watch from the Heathrow Airport Rolex shop, they would refund 17% VAT tax and give a buyer a great price on the watch. But that does not happen today anywhere in the UK, as all Rolex authorized dealers in the UK will charge the published authorized Rolex price for a given watch. So that Heathrow store will have the exact same prices as the Selfridge’s Oxford Street store or any other authorized dealer Rolex shop in the UK. I hope this makes sense and thank you for asking the question, I appreciate it.
Cheers
UK VAT is 20% not 17%
Yes, however the VAT element of the gross price is roughly 17%, which is the amount he would get back.
I have no desire what so ever to own a Rolex watch,There are many more brands that are more affordable and accessible…
Fair enough no problem there. I’m a diehard Rolex fan so pretty much my only watches will be Rolexes, but this is a personal choice of course so it’s all good.
The rent they must be paying for their LHR stores must be sky high, yet they have no mens watches to sell, and you still have to wait 2+ years for their popular pieces. I thought they may have had exclusive stock for travellers.
Exactly. I had the same thought .. they must be paying a massive fortune … who would want be in that business? They have no watches to sell and for months and months (or years and years now) they’re paying the rent. I can’t believe that they’re still there actually. The salesman did say I could put my name on a waitlist, and after six months for some models like Air King and Datejust 41mm, I may get a watch. But that can’t translate into volume sales. Next time I go through Heathrow, I’m going to ask approximately how many watches they get per day per month as I’m very curious about that, and other viewers to my channel have raised this question as well .. which is a good one. I did not specifically ask, but it may be the case that they have solid gold men’s watches in stock but these are 50,000 Pound watches I think. So maybe they have a trade in these ultra high-end pieces that are very low profile and it’s not the watch 95% of the foot traffic buyers are going to be interested in.
@@WatchFanHenry They sell every watch they are allocated. Inventory comes in, they call next on the list and sold.
3 story Rolex AD at the Dubai Mall never has any watches - all spoken for by locals, as it should be - so that’s not happening.
This place sounds like a Rolex superstore or mega store. I don’t think I’ve ever seen a Rolex AD with that big a footprint. Anyway, too bad they never have a single watch available for sale unless you’re on their local waiting list. It’s strange because for the company’s first 120 years you could just walk into a Rolex shop and pretty much buy whatever you wanted. Now here we are in the company’s mid-120 years of existence, and their products are unavailable on a global scale. It’s a very strange dynamic. Rolex is one of those few companies on the planet that have created a massive money tree just like Google, Tesla, and Amazon.
Eye lyke Rollex vatch 👍
Some better brands to try, omega, orient star, grand Seiko, g shock. Rolex is a joke and so is the customer service which does not exist.
It is interesting that you made this comment. I was in Frankfurt last week and was visiting, watch shops, and will be posting a series of my videos on my channel shortly. In one of the videos, I show the two-tone, gold and stainless version of the Daytona that is made by the movement maker Zenith. And it is an absolutely fabulous watch as you’ll see in that video and my brain at that moment excepted the possibility that I could on such a watch and be happy and proud of it as well, so thank you so much for your comment is it really does ring true.
Adding % is not how it works
He is wrong it’s 20% hasn’t been 17% in the UK for years
That’s good thank you for the clarification on this.
They could churn.these out by the million if they wanted, but they would destroy their business model and the illusion of value...much like diamonds.
I find it strange that they maintain these shops throughout Europe and Asia, that for several years now don’t sell watches, so I just don’t understand that business model, and wonder if it will ever change.
Wait list for a Rolex....lol
This is the global situation right now, since the pandemic started. There’s a lot of surplus money in the economy and money started flocking to Rolex watches, and for the past few years, you’ve not been able to purchase a new Rolex from any Rolex authorized dealer throughout the world .. as crazy as it sounds.
@@WatchFanHenry That is BS. Rolex makes more than a million watches a year. Who buys them? This pyramid is going to collapse soon.
Keep telling yourself that
VAT is 20% 🫣
Thank you for the clarification on this.
Just buy a Rolex knockoff.
No I want the real thing. I have worked hard and saved to buy the real McCoys so I’ll just be patient until I find what I’m looking for .. but it has to be a 41mm Rolex.
Heathrow is a total waste of time…….
Apparently, that’s the case at all of the ROLEX authorized dealers at the various Terminals throughout Heathrow … you’re right.