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1 October 2015, 03:53 AM | #31 | |
"TRF" Member
Join Date: Jul 2014
Location: Dubai
Watch: bipolar
Posts: 2,854
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2 October 2016, 03:19 PM | #32 |
"TRF" Member
Join Date: Mar 2012
Location: UK
Posts: 102
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He is in jail now
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2 October 2016, 03:33 PM | #33 |
Banned
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Location: UK
Posts: 4,345
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2 October 2016, 06:03 PM | #34 |
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Location: london
Posts: 6,157
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oh dear
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2 October 2016, 06:44 PM | #35 |
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Join Date: May 2014
Location: Asia
Posts: 409
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2 October 2016, 06:50 PM | #36 |
"TRF" Member
Join Date: Oct 2015
Location: Uk
Posts: 1,069
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Guess this explains the competitive pricing!
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2 October 2016, 07:25 PM | #37 |
"TRF" Member
Join Date: Oct 2015
Location: U.K.
Posts: 469
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Wow...
On another note, can anyone recommend trusted sellers from the UK? |
2 October 2016, 10:00 PM | #38 |
2024 Pledge Member
Join Date: Feb 2010
Real Name: Neil
Location: UK
Watch: ing ships roll in
Posts: 59,369
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Damn.
Official Watches and Luxe have good supply of APs but not particularly cheap nowadays. |
3 October 2016, 04:35 AM | #39 |
"TRF" Member
Join Date: Apr 2012
Real Name: Alex
Location: Chicago
Watch: AP,PP, Rolex
Posts: 37,156
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Wow
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3 October 2016, 04:41 AM | #40 |
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Real Name: Clive
Location: The Alps
Watch: collections change
Posts: 6,284
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I bought from this guy last year...
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. The path from WIShood to WISdom can have many turnings... ——————————————————————————————————— . 16803. 16570. 18038. 114300. GMW-B5000D. |
3 October 2016, 08:30 AM | #41 | |
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Join Date: Nov 2013
Location: UK
Posts: 1,314
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Quote:
That's incredible - he had over 800 watches stashed in his house. I am amazed he got away with this scam for so long given the volume of parcels he was importing. I wonder where and how HMRC are selling these watches. What about his customers who have bought a watch where the VAT import duty has not been paid, will this be an issue for them. I have heard of problems with insurance companies not paying out if a watch was stolen and it is discovered that the VAT has not been paid - they use it as an excuse to get out of paying out in the event of a claim. Sent from my iPhone using Tapatalk
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3 October 2016, 07:28 PM | #42 |
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Join Date: Jan 2011
Real Name: Michael
Location: Melbourne
Posts: 222
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That might explain why when he sold a watch of mine on consignment in 2014 it was only when I saw a picture of the new watch posted by a WIS on watchprosite that I contacted him to ask where my £ were. Firstly he claimed he didn't know it had been sold i.e. Played dumb. Then to actually get the money from him was another story. Funnily enough it was when I suggested police action that he started to get a bit more responsive. He did pay eventually to his credit but I knew something was dodgy.
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3 October 2016, 07:49 PM | #43 |
"TRF" Member
Join Date: Dec 2010
Real Name: Gary
Location: UK
Watch: WG Daytona
Posts: 4,398
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Trial at Teesside Crown Court, only 10 minutes from where I live. Shocking to hear this.
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♕ Rolex Daytona White Gold 116509 (Ghost) ♕ |
3 October 2016, 09:54 PM | #44 |
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Join Date: Dec 2012
Real Name: Ash
Location: UK
Watch: AP Royal Oak
Posts: 4,544
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I've often read on TRF recommendations from members referring to grey dealers as great guys who'll look after other TRF members. This case highlights the fact that grey dealers are out to make money and unlike the AD's the grey dealers don't come under brand scrutiny and therefore some will choose to lie and cheat to deliver unbelievable prices.
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3 October 2016, 11:43 PM | #45 |
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Join Date: Jan 2014
Location: UK
Posts: 7
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I remember buying something from Watches of Distinction a couple of years ago, and Darren came up in conversation. Giles was a bit critical of Darren's approach to importing then, and made a point of letting me know he always sources his imports from within the EU and makes sure the correct, actual VAT is paid on them. His advice was "don't ever take anything you bought from Darren on holidays abroad" Not sure how valid that is. Anyone?
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3 October 2016, 11:49 PM | #46 |
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Join Date: May 2007
Location: .
Posts: 17,898
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Guess his health is about to get worse...
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3 October 2016, 11:51 PM | #47 |
"TRF" Member
Join Date: Jan 2014
Location: UK
Posts: 7
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I wonder who's charged with selling his stock now? Might be a few bargains up for grabs!
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4 October 2016, 03:40 AM | #48 | |
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Join Date: Sep 2015
Location: UK
Posts: 219
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4 October 2016, 03:45 AM | #49 |
"TRF" Member
Join Date: Dec 2012
Real Name: Ash
Location: UK
Watch: AP Royal Oak
Posts: 4,544
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It specifically wasn't a generalisation, perhaps you should read the last sentence again.
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4 October 2016, 01:09 PM | #50 |
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Join Date: Jan 2012
Real Name: Chris
Location: Austin
Watch: 6 digit Rolex+APRO
Posts: 1,561
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A couple of things I noticed from both news articles:
There seems to be real disgust in tax evasion in the U.K., plus a stiff sentence to follow. For enforcement of laws to work, punishment must be swift, certain, and severe. You don't see that level of enforcement nor disgust as much here in the US for those who turn great profits yet manage to avoid taxes. Second, someone please keep an eye out for the auction!! |
4 October 2016, 02:09 PM | #51 |
Banned
Join Date: Feb 2013
Real Name: Bill
Location: Plymouth Meeting
Watch: 116520
Posts: 3,209
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Wow, that's a whole lot of money he avoided paying. That's messed up.
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31 May 2017, 03:49 AM | #52 | |
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Join Date: May 2017
Location: Dubai
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31 May 2017, 05:59 AM | #53 |
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Join Date: Oct 2014
Location: London
Posts: 1,221
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16 October 2017, 04:49 AM | #54 |
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Join Date: Oct 2017
Location: UK
Posts: 1
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Darren Reay
Hello guys,
I came across this thread accidently on Google and normally I’m not a forum type of person (sorry!) however I felt the urge to add a few lines regarding Darren Reay who I have known personally and in business for around 15+ years and have had plentiful contact with during his problems with HMRC. You shouldn’t always believe everything that you read online. Yes Darren did sell imported watches from the USA for 4 years out of the 15 years he was in business, and yes he didn’t pay anywhere near the correct amount of import VAT and duty, however he certainly didn’t pocket anything like £1.2M, and none of his customers lost a penny, on the contrary his customers saved anything from 15% to 40% on their luxury watch, while Darren earned an average of 5% from each sale, on a typical £10k watch he would get £500 gross and then pay VAT on his profit (I've seen the figures myself!). Over a period of 4 years he earned approx. £300k in total from the USA imported watches and ended up having to sign over 800 used watches to HMRC in order to satisfy them and quash his Import VAT bill, so it is safe to say that HMRC have now been settled in full. He was arrested by HMRC and interviewed/prosecuted by HMRC (Not the police as some people have said). It seems that the only person who has lost out here is Darren himself, after 15 years in business he has been wiped out financially, and also been sentenced to 3 years in prison. Don’t get me wrong I do not condone tax evasion, everyone needs to pay what they owe. The people close to Darren know the real truth, the people who don’t know Darren believe every word they read in the newspapers and online stories, which don’t show all of the facts. Sorry to waffle on a little but Darren isn’t here to defend himself and explain (for obvious reasons) so I took it upon myself to pass this information on. And before anyone asks, no I don’t know where the 800 watches are being sold :-) probably some auction house somewhere making 10% of what they are actually worth! |
16 October 2017, 03:20 PM | #55 | |
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Join Date: Apr 2015
Location: Houston
Posts: 17,622
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Quote:
While it may be true he may not have pocketed 1.2M, my guess is that fugue is what he owed by not paying the correct VAT, so in his pocket or not its the same. I would suspect Darren isn't the only one who "has lost". Im guessing there are some legitimate dealers who played by the rules and paid what they owed who were undercut and lost their businesses as a result of the illegal pricing structure. Not to mention the taxpayers who also lost. That 1.2m would have otherwise gone to funding things like schools, or other public services. He stole from me and i didn't even buy a watch from him, but i am a taxpayer.
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