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Purchasing a Rolex Daytona in Geneva, Switzerland

Portland
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Purchasing a Rolex Daytona in Geneva, Switzerland

I will be traveling to Geneva in the coming months... I have never been there. It is my understanding that a Daytona Rolex (Stainless Steel) is roughly $7,500 - $8,500 retail price.

However, any authorized Rolex dealer/jeweler will normally sell this watch for $11,500 -$12,000.

Is it possible to buy this watch (or any Rolex) directly from Rolex (headquarters/store) without the Jeweler/watch store mark up? Or, do you have do purchase from an "authorized Rolex dealer," and subject to their mark up, etc.

Bottom line... Is it a much better deal to purchase a Rolex in Geneva?

Thank You.

Anchorage, Alaska
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1. Re: Purchasing a Rolex Daytona in Geneva, Switzerland

First, I would be very surprised if Rolex would even dare to undercut their dealers by selling "factory direct."

You need to get prices for the watch here in the US and then go to reputable jewelers in Switzerland and see if they can do better. DO NOT buy the watch from anyone except a reputable jeweler because there are so many knock offs and you have to be an expert to tell from the real thing. The knock off will include official warranty paperwork, etc. The only way to do this is to buy from an established and reputable jeweler.

Additionally, customs will charge you import duty on the watch. You can determine how much that will be through their website. Add that to the price in Switerland before you decide whether buying there will save you money.

Hope this helps.

Portland
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2. Re: Purchasing a Rolex Daytona in Geneva, Switzerland

Thank you for your response. I really appreciate it. The Rolex watch I am looking for is in high demand. Typically, most "authorized Rolex dealers" in the US only get one, or two of them a year to sell. Therefore, from what I have seen... The price typically is higher than it's "retail price." My question is... If I'm in Geneva, Switzerland at the Rolex headquarters, etc. I would assume I would not have a supply issue on getting the Rolex watch I desire. I'm not looking to get the watch at a discount. I just would like to pay the actual retail price for the Rolex Daytona (Stainless Steel). Is it possibe that I can purchase this watch (or, any Rolex) without the "mark up," due to lack of supply in the United States? Can anyone please advise??? Thanks.

Wichita, Kansas
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3. Re: Purchasing a Rolex Daytona in Geneva, Switzerland

Get the price of the watch, INCLUDING your local sales tax, from your local jeweler. When you get to Geneva or Zürich go to Bucherer and price a comparable model.

http://www.bucherer.com/en/home.html

You will have to pay the 7.6% VAT tax upfront and get a VAT refund form. Have the merchant fill-out the VAT refund form, get the form stamped by Swiss customs at the airport and go the Global Refund office to receive a refund of the VAT less a small handling fee.

www.globalrefund.com/default.asp…

Today 1 Swiss Franc ≈ $0.8442 USD

http://www.xe.com/ucc/

Each returning US citizen [including children and infants] is allowed an $800 personal exemption and these exemptions can be combined.

cbp.gov/xp/…duty_free.xml

Yes, you are supposed to declare and itemize purchases over $1,000 USD upon return to the U.S. and pay the excess Duty. The Duty rate is 3% per $1,000 which is less than your local sales tax.

cbp.gov/xp/…paying_duty.xml

To determine the amount to declare to US Customs, you would take the price in Swiss Francs less the VAT amount and convert that to USD. US Customs will take that amount, substract your combined personal exemptions and ask you to pay a 3% Duty per $1000.

Basically, you take the amout you paid in USD less your exemptions, add 3% and compare that with the price the watch would cost at your local Rolex jeweler.

I bought my Rolex Oyster Datejust 21 years ago from Bucherer in Geneva for the equivalent of $1,700 USD. At that time, I got the VAT refund, did not pay my local 5.9% sales tax, did pay $90 excess duty to US Customs and saved 15% overall.

The current appraised replacement value of my Rolex for insurance purposes is $7,500 USD. It was then and always will be a good investment.

Washington DC...
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4. Re: Purchasing a Rolex Daytona in Geneva, Switzerland

I agree that Bucherer is the place to buy a Rolex, but in my experience, while there is a better selection of watches in Geneva, the prices can be higher than in the US. The dollar has been taking a dive lately, and that could be quite meaningful on such a big purchase.

5. Re: Purchasing a Rolex Daytona in Geneva, Switzerland

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