Rolex Deepsea Deal inHong Kong - too good to be true? Advise please

[NickTruswell]

Hi everyone,

I'm from the uk but in Hong Kong on business at the moment. I've been looking at adding a deepsea to my collection and whilst out and about today I stopped by a few AD's and watch dealers to check out pricing and how it compared with the uk.

UK list price at the moment is £8,100 I think and used they are going from about £6,500 upwards.

In Hong Kong the list price is HKD 82,000, or approx £6,300 vs UK or nearly £2k more. I was offered a 5% discount as well on top of this so could have the brand new watch out the door approx £5,900 GBP. The exchange rate is quite strong at the moment but this seems like a massive savings vs the UK at a time when I thought rolex was trying to even out its price structure across the world.

Could anyone give me some feedback on this as to whether I'm missing something here or is the pricing that good?

The AD in HK was Yes Watch Company on Mody Road in TST

Thanks all
Nick

[Trimapa]

Yes watch ltd in HK is an official Rolex dealer . Exchange rate is favorable at the moment . There should be no problem , go for it .

[up2nogood]

Go hard! As you're there on business, hopefully it's a reward for a success too.

[Pete26]

Hong Kong has always been a place for reasonably priced Rolex

[bondtoys]

You are in the UK subject to 20% VAT - that does not exist in HK.

Keep in mind that legally you must declare the watch at the custom's in the UK and pay the VAT.

[padi56]

Originally Posted by bondtoys

You are in the UK subject to 20% VAT - that does not exist in HK.

Keep in mind that legally you must declare the watch at the custom's in the UK and pay the VAT.

Exactly its all down to TAX and Currency exchange in all countries and always a possibility to get stopped by customs on return to the UK to pay the duty.

[Jake B]

Originally Posted by bondtoys

You are in the UK subject to 20% VAT - that does not exist in HK.

Keep in mind that legally you must declare the watch at the custom's in the UK and pay the VAT.

You coming back here anytime soon, M?

[TudorBeast]

Wear the watch and ship the box home.

[Garethmjones1]

If you wanted the watch anyway and you have the funds then at that price it's a no brainer.

Go for it.

How you deal with the duty issue is up to you. If you post the box, I would keep the warranty card in my wallet just to be on the safe side.

Enjoy the watch, you won't regret it, particularly at that price.

[rolexy76]

just make sure it is from main dealer

[bondtoys]

Originally Posted by Jake B

You coming back here anytime soon, M?

Hello Jake,

I have been there 3 weeks ago but did not get in touch with you because I was sick for almost 10 days - then we left.
Next time.....

All good with you guys?

[NickTruswell]

I've checked the role. Website at it has them as a bonafide AD.

Would a Hong Kong sourced watch have English paperwork and booklets or would it be in Cantonese or mandarin??

Thanks for your help guys

[Old Expat Beast]

Yes, HK$82,500 is the HK list price, and 5% is the standard AD discount here.

[Old Expat Beast]

PS, you can probbly get the same watch/price down the road in the Peninsula Hotel AD and have a classier-looking receipt than from the Yes Watch Co.

[Old Expat Beast]

Originally Posted by NickTruswell

I've checked the role. Website at it has them as a bonafide AD.

Would a Hong Kong sourced watch have English paperwork and booklets or would it be in Cantonese or mandarin??

Thanks for your help guys

Should be ok in English....pretty sure they have both for manuals.

[socalwatchcollector]

Originally Posted by TudorBeast

Wear the watch and ship the box home.

Bingo If that is an option it would be the one I choose.

[hbk75]

Originally Posted by TudorBeast

Wear the watch and ship the box home.

good idea. wear the watch home with spare links and card in the luggage. ship the box home via registered mail.

[Jake B]

Originally Posted by NickTruswell

I've checked the role. Website at it has them as a bonafide AD.

Would a Hong Kong sourced watch have English paperwork and booklets or would it be in Cantonese or mandarin??

Thanks for your help guys

English is available as it's an official language in Hong Kong. I have English paperwork for my watches. The two official languages are Chinese (most speak Cantonese in day to day life) and English.

BTW Cantonese and Mandarin are written the same. That's the beauty of the Chinese written language and what unifies the people...No matter which one of the many, many dialects you speak, you can understand the writing.

[Old Expat Beast]

Except that traditional Chinese characters are used in Hong Kong and Taiwan, and simplified characters have been used on the mainland since the 1950s (to encourage literacy). Mainlanders have trouble reading the traditional characters used in HK, and HK people take issue when local restaurants offer a menu in simplified characters to please the mainlanders. There's a fear that traditional characters may disappear in the future. Sorry to go off topic...

[xbox]

Wow, they cover pretty much every brand....

Rolex, Tudor, A. Lange & Sohne, Audemar Piguet, Baume & Mercier, Blancpain, Breguet, Breitling, Cartier, Concord, Corum, Franck Muller, Girard Perregaux, Hublot, Jaeger LeCoultre, Piaget, Tag Heuer, Zenith, Officine Panerai, Harry Winston, Ulysse Nardin.

[Shawnnyang]

.... you can do much better than the 5% in HK haha. Bargain harder.

[Jake B]

Originally Posted by Old Expat Beast

Except that traditional Chinese characters are used in Hong Kong and Taiwan, and simplified characters have been used on the mainland since the 1950s (to encourage literacy). Mainlanders have trouble reading the traditional characters used in HK, and HK people take issue when local restaurants offer a menu in simplified characters to please the mainlanders. There's a fear that traditional characters may disappear in the future. Sorry to go off topic...

Haha..Indeed, likewise. Yeah, my wife lived in mainland China until she came here in 1997 so she's good with all of it. I'm lazy though....Since I have her I've gotten away with learning minimal Chinese.

To get back on topic...Yes, OP you can get decent deals here, especially if you're willing to shop at reputable non-AD importers who bring their stock in from EU.

[Old Expat Beast]

Originally Posted by Jake B

Haha..Indeed, likewise. Yeah, my wife lived in mainland China until 1997 so she's good with all of it. I'm lazy though....Since I have her I've gotten away with learning minimal Chinese.

To get back on topic...Yes, OP you can get decent deals here, especially if you're willing to shop at reputable non-AD importers who bring their stock in from EU.

Same here! I learned Chinese quite keenly till I married my first wife (Chinese) about 22 years ago.

[ejvette]

Originally Posted by TudorBeast

Wear the watch and ship the box home.

Bingo!

[Jake B]

Originally Posted by Old Expat Beast

Same here! I learned Chinese quite keenly till I married my first wife (Chinese) about 22 years ago.

We've come to a mutual understanding...I don't need to learn the 3 dialects of Chinese that she speaks & reads, and she doesn't need to learn to read and write French for our vacations to France, Canada, Switzerland, and Belgium

[NickTruswell]

Thanks everyone, this looks like its a go'er

Will let you know if I pick it up

Thanks
Nick

[phd]

Originally Posted by Jake B

Haha..Indeed, likewise. Yeah, my wife lived in mainland China until she came here in 1997 so she's good with all of it. I'm lazy though....Since I have her I've gotten away with learning minimal Chinese.

To get back on topic...Yes, OP you can get decent deals here, especially if you're willing to shop at reputable non-AD importers who bring their stock in from EU.

Just to hijack this thread a little - any risk from these non-AD importers in HK? I passed by one a few weeks ago. While the prices are attractive, I wasn't sure if there's some hidden cost. Any reputation non-AD importers in HK you would recommend?

[psv]

Demand 10%. Buy the watch and ship the box back by mail. Wear the watch and enjoy it. Case closed.

[bondtoys]

it's not that easy anymore.
Since mailand chinese are invading HK with suitcases full of money* - discounts for Sports models are tough to get over 5-6%.

Non-ADs on Mody road (Nathan road nearby) sell genuine stuff - sometimes box and manuals are missing.

*You can see them lining up in front of Hermes, Louis Vuitton, Chanel and sometimes Cartier

[Wezjames]

It's because the UK slap 20% tax onto everything :P


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