# Best place to buy a new Rolex?



## blu

Sadly not in my budget, but asking for a friend.

He's interested in getting a steel/gold blue dial submariner. Apparently Goldsmiths were offering a rather paltry 2% discount but I've heard stories of people getting much more from other AD's?

The only other options that come to my mind are buying from Iconic online or tax free in Heathrow but apparently the chap in Goldsmiths said to steer clear of these as the Iconic could be fake or used (?!) , while apparently buying from Heathrow tax free counts as tax evasion and you won't be able to insure the watch/ service it without questions being asked.

I was just wondering if people had any recommendations about where to get the best deal, as I've never purchased a Rolex and that won't be changing for the foreseeable future :laugh: ?

Just thought I should add - apparently the Goldsmiths guy also said there was a UK price rise imminent and now is the time to buy. I was just wondering if this was scaremongering or actually likely to happen?


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## Daveyboyz

Well no response says it all really... is there anyone that would recommend buying a new one when a secondhand purchase saves you the VAT plus some on most models.

Its true that everyone expects a price rise, due to the weak pound our prices need to be revised to bring them into line with Europe...so that checks out.


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## kevkojak

blu said:


> He's interested in getting a steel/gold blue dial submariner. Apparently Goldsmiths were offering a rather paltry 2% discount but I've heard stories of people getting much more from other AD's?
> 
> The only other options that come to my mind are buying from Iconic online or tax free in Heathrow but apparently the chap in Goldsmiths said to steer clear of these as the Iconic could be fake or used (?!) , while apparently buying from Heathrow tax free counts as tax evasion and you won't be able to insure the watch/ service it without questions being asked.
> 
> I was just wondering if people had any recommendations about where to get the best deal, as I've never purchased a Rolex and that won't be changing for the foreseeable future :laugh: ?
> 
> Just thought I should add - apparently the Goldsmiths guy also said there was a UK price rise imminent and now is the time to buy. I was just wondering if this was scaremongering or actually likely to happen?


 2% discount from an AD isn't uncommon on a sports model, even a bi-metal. I'd be angling more for 10%-12% but you'll rarely get that from one of the multiples unless you're a regular customer (i.e. not just haggling for a good price on a desirable watch then never to be seen again), he needs to find a good independent for the best deal in my opinion.

Iconic (aka Ancient and Modern) are one of the best UK sources for Rolex. They are brand new, but come through the back door so quite often the guarantee card has been made out in someone elses name. I've never heard of Iconic handling a fake watch, might be grounds for libel if the Goldsmiths chap is suggesting so. I have never dealt with them personally but in ten years in the business I can count the bad reviews on one hand.

Best deal - either trusted grey-market (see above) or hop on a plane to Europe for a day out. There aren't many independent shops still left as Rolex agents, they closed a LOT of the smaller dealerships in the last 5 years to concentrate on the boutiques and the high volume multiples. The bi-metal isn't that rare or sought after - you won't get much off a steel model but in bi-metal I can't see 10% being hard to attain. Find a shop with one in the window gathering dust already - you can forget a deal if it's got to be ordered from Rolex.

The Goldsmiths guy was right on the price rise (it was "due" on Sept 1st...it never happened so now everyone is suggesting October instead - truth is only Rolex know when, but with the pound weak at the moment they WILL be raising the prices). He was wrong about Iconic though, and talking out of his 'arris about not being able to insure a watch without questions being asked. Why would the insurance company give a toss? Nice try on pressure selling, I give him 7/10.


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## scottswatches

The UK is currently one of the cheapest places to buy a Rolex, thanks to the drop in the pound. I'd call the Rolex shop in Geneva (cheap easyjet flights) and get a comparison. I heard that price rises are due too, many other brands have already put up prices


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## andyclient

I went into the Rolex shop in Gibraltar to enquire about the price comparison between a Sub in the UK to Gibraltar expecting it to be quite a bit cheaper considering they are supposedly tax free and was surprised to find they were only £400 cheaper , not even 10%


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## decraew

What about buying it on Chrono24 ? I don't know about Rolex (not my brand) but for a lot of the other brands you can get decent discounts on new watches.


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## kevkojak

decraew said:


> What about buying it on Chrono24 ? I don't know about Rolex (not my brand) but for a lot of the other brands you can get decent discounts on new watches.


 Hit and miss - it's all about doing the due-diligence on the particular seller.

Personally I'd buy on the beach in Turkey before chancing Chrono24 but that's only because I've heard my share of horror stories, I know a lot of people who have been very pleased with it.


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## blu

kevkojak said:


> 2% discount from an AD isn't uncommon on a sports model, even a bi-metal. I'd be angling more for 10%-12% but you'll rarely get that from one of the multiples unless you're a regular customer (i.e. not just haggling for a good price on a desirable watch then never to be seen again), he needs to find a good independent for the best deal in my opinion.
> 
> Iconic (aka Ancient and Modern) are one of the best UK sources for Rolex. They are brand new, but come through the back door so quite often the guarantee card has been made out in someone elses name. I've never heard of Iconic handling a fake watch, might be grounds for libel if the Goldsmiths chap is suggesting so. I have never dealt with them personally but in ten years in the business I can count the bad reviews on one hand.
> 
> Best deal - either trusted grey-market (see above) or hop on a plane to Europe for a day out. There aren't many independent shops still left as Rolex agents, they closed a LOT of the smaller dealerships in the last 5 years to concentrate on the boutiques and the high volume multiples. The bi-metal isn't that rare or sought after - you won't get much off a steel model but in bi-metal I can't see 10% being hard to attain. Find a shop with one in the window gathering dust already - you can forget a deal if it's got to be ordered from Rolex.
> 
> The Goldsmiths guy was right on the price rise (it was "due" on Sept 1st...it never happened so now everyone is suggesting October instead - truth is only Rolex know when, but with the pound weak at the moment they WILL be raising the prices). He was wrong about Iconic though, and talking out of his 'arris about not being able to insure a watch without questions being asked. Why would the insurance company give a toss? Nice try on pressure selling, I give him 7/10.


 Many thanks for the response. Iconic are giving a discount of 11% on this model, which is far more than Goldsmiths. Apparently the Goldsmiths chap said someone bought a watch from there and then sent it in for servicing through Rolex, only to find that the movement wasn't even genuine. Sounds like BS to force a sale to me, because I too have only heard good things about Iconic. I take that the warranty is still valid if you buy from them?

As for the difficulty insuring it, he said this would apply if buying through the Heathrow Rolex AD tax free, because the receipt would show that duty had not been paid. They are giving a discount of around 18% (almost VAT free) which I don't believe can be beaten - is this really as shady as the salesman made out?

As for buying used, my friend doesn't want to because the savings aren't that great on this model apparently.


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## blu

Also thought I should add - this Goldsmiths branch said the price rise had been confirmed to them by Rolex and will be happening on October. Apparently prices will be going up by 10-12% but this sounds v steep to me?


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## ZenArcade

The guy in Goldsmiths telling you Iconic sell dubious stock is an idiot to be frank, their stuff is sourced mostly in Europe from AD's they are just a "Grey market" Dealer though they don't seem to have any kind of substantial discount on Rolex any more than what could probably be negotiated depending on what you are after. Some Rolex are more desirable than others so you are going to struggle to get a discount there.

As for the Rolex price rise, honestly have a look around the internet you will soon be sick to the back teeth hearing about it. Its mostly people who bought a Rolex a few years ago desperate for a price rise in the hope their "investment" will claw back some of the money they spent while it sits collecting dust in a safe instead of being worn on the wrist like a watch should be. Supposed price rise in August, then September now October if you are really that worried buy now but in all honesty you should really look at a watch as something to wear not something to pin your hopes on its going to turn a profit in 10 years time if that's what you are looking for you probably need to head to a bank for a decent savings account not a jewelers. Aside from that all those wonderful stories of people buying a watch and it holding value if not making money go back about 10 years or so when Rolex and many others were selling at a decent price, prices since went through the roof and the simple reason they have slowed a bit of late is because the world is going through one of the worst economic crises since the 20's that a few watch companies are still sticking their heads in the sand bumping their prices up means nothing. Swatch stopped selling ETA to non Swatch companies while bumping up their prices now they are crawling back to those companies offering to sell to them again. Most of the big hitters out there are bumping up the prices only to cry foul when their profits slump.

As for someone buying a Rolex and sending it off only to find it wasn't the right movement, I think he is on very dangerous grounds making those kinds of statements about Iconic. Regarding insurance, why would an insurance company not insure a watch bought at an authorized store at an international airport what exactly does that have to do with insurance?


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## scottswatches

insurance wouldn't be an issue at all. It's still a Rolex, no matter where it is bought from. Used Rolex' from eBay can still be insured!


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## kevkojak

blu said:


> Many thanks for the response. Iconic are giving a discount of 11% on this model, which is far more than Goldsmiths. Apparently the Goldsmiths chap said someone bought a watch from there and then sent it in for servicing through Rolex, only to find that the movement wasn't even genuine. Sounds like BS to force a sale to me, because I too have only heard good things about Iconic. I take that the warranty is still valid if you buy from them?
> 
> As for the difficulty insuring it, he said this would apply if buying through the Heathrow Rolex AD tax free, because the receipt would show that duty had not been paid. They are giving a discount of around 18% (almost VAT free) which I don't believe can be beaten - is this really as shady as the salesman made out?
> 
> As for buying used, my friend doesn't want to because the savings aren't that great on this model apparently.


 How would the insurance company know it's brand new? It could be inherited, a gift, something bought 5 years ago - it's still worth the same amount.
Goldsmiths are just trying to force a sale, that's all.

And I used to work for a Rolex AD - Rolex do not send a friendly letter telling you that the prices are going up in a few weeks time if it's not terribly inconvenient... they send a special delivery of the new price list and say "guess what, the prices went up TODAY - change your price tickets before we come and check" :biggrin:


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## blu

Thanks again for all the responses. I think the point about insurance was more that you could be hit with a tax bill if you insure the watch and they ask for the receipt , seeing as Heathrow sell them minus VAT and technically you should declare it at customs - this would make it more expensive that just buying it on the high street.

I think it was scaremongering because this would involve the insurer reporting you to HMRC or the like, which I haven't heard of - but then I've never made a single claim for something that high value.

The last time I went to Heathrow they said there should be no issues wth buying the watch tax free so long as you start wearing it, but that too could have been a sales pitch.


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## BondandBigM

I'm curious about the airport thing, don't you have to be actually flying somewhere out of the EU to qualify for tax free ??? You can't buy cheap booze of cigs unless you are leaving the EU.

They seemed cheap in Tenerife and one AD told me he sold a lot to mainland Europe, the shop had pretty much all the sports range, a possible source for the UK grey dealers maybe ???

If you are prepared to go at a moments notice you can get a return ticket cheap enough and get a couple of days in the sun.


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## WRENCH

I cycled to my local AD and bought an Explorer. It was as simple as that.


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## blu

BondandBigM said:


> I'm curious about the airport thing, don't you have to be actually flying somewhere out of the EU to qualify for tax free ??? You can't buy cheap booze of cigs unless you are leaving the EU.
> 
> They seemed cheap in Tenerife and one AD told me he sold a lot to mainland Europe, the shop had pretty much all the sports range, a possible source for the UK grey dealers maybe ???
> 
> If you are prepared to go at a moments notice you can get a return ticket cheap enough and get a couple of days in the sun.


 I went to Watches of Switzerland (Rolex AD in Terminal 3) when flying out of Heathrow and they said their tax free prices apply no matter where you are flying so even if you are going to an EU country you can still benefit.

I think that technically you are meant to declare such purchases at customs when you return and pay 20% tax on them, but the sales advisor said if you start wearing the watch immediately you can avoid this. I've never done it so cannot say how solid that is.

What I can say is that the savings were pretty amazing - they were selling the submariner for £7400 while the RRP is £8950 and the new Datejust for £7000. It seems to be a really popular place to buy because they had sold out of a lot of other models. I believe they also sell Omega, JLC, Patek etc there with similar discounts. There's also an official Rolex Boutique in Terminal 5 that offers the same tax savings but I've not been there.


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## blu

WRENCH said:


> I cycled to my local AD and bought an Explorer. It was as simple as that.


 Did you manage to get any discount?


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## BondandBigM

blu said:


> I went to Watches of Switzerland (Rolex AD in Terminal 3) when flying out of Heathrow and they said their tax free prices apply no matter where you are flying so even if you are going to an EU country you can still benefit.
> 
> I think that technically you are meant to declare such purchases at customs when you return and pay 20% tax on them, but the sales advisor said if you start wearing the watch immediately you can avoid this. I've never done it so cannot say how solid that is.
> 
> What I can say is that the savings were pretty amazing - they were selling the submariner for £7400 while the RRP is £8950 and the new Datejust for £7000. It seems to be a really popular place to buy because they had sold out of a lot of other models. I believe they also sell Omega, JLC, Patek etc there with similar discounts. There's also an official Rolex Boutique in Terminal 5 that offers the same tax savings but I've not been there.


 So they are advocating tax fraud then. I'm surprised they'd actually say that, a bit naughty on their part.

:huh:

I've never bought a watch but it's just a commodity like booze & fags and you have to hand over a boarding card as proof of a departure out of the EU when you buy them otherwise you pay the tax.


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## Nigelp

I've used Iconic they are excellent and I saved £300 on a Longines Legend Diver. They are a broker in effect and source stock from AD's which could be anywhere in the world, but it will be genuine, from an AD and covered by the manufacturers warranty. When I re-searched my purchase it appeared the main reason they can accrue savings for customers is due to buying bulk consignments and knowing AD's who have larger stocks of unsold watches which they wish to move on. I'd buy of Iconic, as I say my LLD arrived within a week and I saved £300 on the Goldsmiths price. All fully warranted from an AD in Southern Italy. Factor my saving up to Rolex prices and you could well save over a grand.


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## Padders

I think the reality is that you aren't dodging anything. The reason why they can legally sell you it wherever you are travelling is that you are not actually getting it duty free, you are simply getting a discount equivalent to paying the pre VAT price. They couldn't legally sell these to travellers within the EU or going domestically if there really was tax being dodged. It is a different story if you buy one in the Middle East or USA, then you would have to declare it when you came back into the country but with these, the tax is actually paid so there is no issue.


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## WRENCH

blu said:


> Did you manage to get any discount?


 I didn't ask.


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## BondandBigM

Padders said:


> I think the reality is that you aren't dodging anything. The reason why they can legally sell you it wherever you are travelling is that you are not actually getting it duty free, you are simply getting a discount equivalent to paying the pre VAT price. They couldn't legally sell these to travellers within the EU or going domestically if there really was tax being dodged. It is a different story if you buy one in the Middle East or USA, then you would have to declare it when you came back into the country but with these, the tax is actually paid so there is no issue.


 That sounds a bit more like it, the Tenerife AD said he could offer good prices simply because of the volume of sales.

It's not been unknown for the customs to ask for proof of purchase for items on return to the UK, when I worked abroad and took tools & machinery there was a form you could fill in, a T something or other stating what you took so on return they could check you didn't have any extra undeclared contraband. The works used to organise it so I'm not exactly sure how it worked.


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## james brodie

At that level I'd be inclined to play safe and buy from an established British jeweller like Ernest Jones; with the receipt, which can be shown for insurance and more importantly resale purposes (and great to keep in the box forever), I'd feel I would have thorough peace of mind in every way as well as enjoying the full pampering experience you are likely to get.


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