It is a fact that many Kenyan men love to wear Rolex watches. From President Kenyatta to Mombasa Governor Hassan Joho to Radio King Shaffie Weru, they have all flaunted these expensive pieces.
And so if you have some coin, here are the countries where you will get genuine items.
Don’t get me wrong I haven’t traveled to these countries, but with a little research, I am making your work alittle bit easier.
On 27th April, the Day-Date 40 in 18ct Everose gold with chocolate dial indicates the weekday in Italian. The Day-Date is available with the day of the week display in 26 languages.
Eastern Europe/The Balkans: Romania, Hungary, Poland, & Greece
Usually, one can only claim VAT on “NEW” items. However, in some Eastern European/Balkan countries (like these), rules can be slightly flexible. It is Possible (dependent on your negotiation skill) to get them to “package” your used item to “look like new with a receipt” so you will be eligible for the VAT Refund. (as if it were a new purchase)
Obviously don’t walk into an official Rolex retailer and ask for this service. I’m referring to the local owned watch retailers. If you’re afraid of fakes, get them authenticated, just like what you would do in Singapore. (Yes, you can get authentication in these countries, they aren’t that backward)
These countries are more generous with their VAT refunds than that of their Central European neighbours. On top of that, you can add in yet another “shop discount.” (bargaining, a Singaporean favourite) Here’s some information on what VATis, and VAT refunds.
Southwest Europe: Spain
And as for Spain? Well, the economy has hit them pretty hard in recent years and their retail prices are reflecting the disparity between them and their richer Central European neighbours. Forget about Rolex in Spain though. Rolex guards their prices very firmly worldwide, and there isn’t as generous a VAT refund (like Scandinavia) to make it a worthwhile place to get yourself a Rolex. For brands like say Tudor (Rolex’s sister company) and Hublot, very decent discounts can be gotten. By decent, I mean you could easily sell them at a good profit in Singapore.
On March 24th , rolex released the Day-Date 40 in 18ct white gold with an olive green dial features a weekday display that is available in 26 languages.
Asia: Japan, Hongkong & Singapore
The Japanese are huge colletors of vintage timepieces. It is not difficult to find a used watch shop in Japan. And i’m not saying you have to venture all the way to say Hiroshima or some far away district to get a watch at a decent price.
Previously with a stronger Yen, it was expensive to visit Japan, let alone shop for luxury items. Thanks to Shinzo Abe, the Prime Minster of Japan, and his Quantitative Easing program (QE), the Yen has been devalued to stimulate the economy. This results in not just Japanese exports becoming cheaper, but also making it more affordable for tourists and watch collectors to pick up a used Rolex or Seiko in Japan.
In Hongkong, prices of watches are not as cheap as they used to be. The plus point for Hongkong though, is that there are so many used watch shops you are spolit for choice. Rather than just the big players, a lot of these shops are family owned used watch shops. They don’t report to anybody and you can negotiate your discount to the best of your ability.
Singapore, has a great deal of used watch retailers. Prices are pretty much fixed give or take $200 – 500 (depending on the list price of the watch), with not much room for negotiation. However, because of the materialistic mindset of Singaporeans (you’ll find a person earning as low as 3-4k a month wearing a Rolex) who enjoy taking up installment plans to fund a perception that they are well to do, it’s not difficult to get one at fire sale prices in local watch forums (just google watch forum Singapore) who need an urgent sale once they realize they can’t keep up with appearances.
The Scandinavian Countries: Norway, Sweden, Denmark
The Scandinavian countries!?! (except Finland) Well, to be honest, everything is expensive in Scandinavia. For smaller ticket items like your Chanel or Prada (yes, these brands aren’t a big deal just so you know), just stick to Paris or Milan.
Have you ever had friends who said, “im going to Switzerland to buy a Rolex?” I’m sure you have. And those friends of yours? They’re the biggest carrot there is. Luxury watch retailers in Switzerland have people like them for lunch.
You know, there is this logic that luxury goods are cheapest in the countries they are produced? For example, Prada is cheapest in Milan, Chanel in Paris, Ralph Lauren in USA, Loewe in Spain, and Rolex in Switzerland? Well, that’s probably true for all of them, except in the case of Switzerland and its many luxury watch brands. (not just Rolex)
Switzerland is an expensive country.
– Scandinavian countries are expensive countries.
– The INITIAL cost of a Rolex is SLIGHTLY Cheaper in Switzerland than in Scandinavia.
– The INITIAL cost of a Rolex is MORE Expensive in Scandinavia than in Switzerland
– The VAT refund in Scandinavian countries is BY FAR more generous than that of Switzerland’s, resulting in Scandinavia being “CHEAPER than Switzerland to purchase a NEW Rolex.”
(The variety of models might be fewer than that of say Switzerland, Spain, etc….Don’t expect stock on popular models. If you’re there for the basic Datejust, great. Batman? You’re out of luck. Better luck getting one 2nd hand)