11 Of The Best Countries To Buy New Watches
โ€” 10 March 2023

11 Of The Best Countries To Buy New Watches

โ€” 10 March 2023
Randy Lai
WORDS BY
Randy Lai

A couple of years ago at the 2019 edition of Watches & Wonders, our colleague James peeped the now-acclaimed Cartier Santos and summarily went on to proclaim it one of the best watches of the show. โ€œItโ€™s an elegant and timeless design,โ€ he said, โ€œequipped with a lovely interchangeable bracelet that will complement pretty much all occasions as you grow oldโ€. Impressive stuff. 

More than that release itself though, this Cartier Santos โ€“ a classic, on-bracelet sports watch with plenty of everyday sex appeal โ€“ helped to precipitate a discussion about the best countries in the world to buy new watches โ€“ complete with a punchy tourist refund scheme. 

For those of you who have international work/leisure trips in the immediate future, weโ€™ve decided to update our index on the 11 countries with the best watch prices around the globe โ€“ using the classic Santos Ref. WSSA0029 as our benchmark.

Punchy discrepancies in the various global MSRPs aside, weโ€™re pleased to report that Australia remains (by-and-large) a fairly equitable place to purchase new luxury watches โ€“ even if youโ€™re not eligible for the nationโ€™s Tourist Refund Scheme

While weโ€™ve used opted to use Cartier as our point of reference in this index, a quick look at Breitlingโ€™s global sites shows similar discrepancies in retail pricing. Ultimately, each nationโ€™s VAT or GST refund policy plays a decisive role in determining whether you come away having nabbed the lowest possible price (even if what you paid in-market seemed higher to begin with).

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The Best Countries To Buy Watches And Claim VAT In 2023

11. Brazil (Average VAT Rate: 17.5%)

best countries to buy watches
  • R$45,400 = AU$13,340.93
  • (1 AUD = 3.40 BRL, dated 09/03/2023)
  • MSRP ex. VAT = R$37,682
  • TOTAL PRICE = AU$11,070.97

10. United States (Variable Taxes)

best countries to buy watches
  • US$6,800 = AU$10,320.94
  • (1 AUD = 0.66 USD, dated at 09/03/2023)
  • TOTAL PRICE* = See our comments below
 

*Unlike other countries in North America, the United States has no single national tax regime. Rather, the final price you come away with will be determined by the country youโ€™re shopping in.

For instance, the following US states do not levy a statewide sales tax:

The US is tricky because each state has its own tax, so shopping in states without taxes may prove beneficial. See below:

  • Oregon
  • New Hampshire
  • Delaware
  • Montana
  • Alaska

Meanwhile, Louisiana and Texas both offer tax rebates on eligible items purchased in designated stores.

9. Hong Kong (No VAT)

best countries to buy watches
  • HK$53,000 = AU$10,248.69
  • (1 AUD = 5.17 HKD, dated at 09/03/2023)
  • TOTAL PRICE = $10,248.69

8. Australia (GST Rate: 10%)

  • AU$11,200 (pricing dated 03/2023)
  • MSRP ex. GST = $10,080
  • TOTAL PRICE = $10,080

7. United Arab Emirates (VAT Rate: 5%)

best countries to buy watches
  • AED$25,600 = AU$10,576.41
  • (1 AUD = 2.42 AED, dated at 09/03/2023)
  • MSRP ex. VAT = AED$24,320
  • TOTAL PRICE = AU$10,047.59

6. Singapore (GST Rate: 8%)

best countries to buy watches
  • SG$9,650 = AU$10,833.67
  • (1 AUD = 0.89 SGD, dated at 09/03/2023)
  • MSRP ex. VAT = SG$8,878
  • TOTAL PRICE = AU$9,960.12

5. Switzerland (VAT Rate: 7.7%)

best countries to buy watches
  • CHF$6,400 = AU$9,801.66
  • (1 AUD = 0.61 CHF, dated at 09/03/2023)
  • MSRP ex. VAT = CHF$5,907.20
  • TOTAL PRICE = AU$9,620.57

Editorโ€™s Note: Itโ€™s important to point out that, according to PwCโ€™s Worldwide Tax Summaries (last reviewed in January 2023), Switzerland will be increasing its VAT rate to 8.1% as of 01 January 2024.

4. Germany (VAT Rate: 19%)

  • โ‚ฌ7,150 = AU$11,502.25
  • (1 AUD = 0.62 EUR, dated at 03/09/2023)
  • MSRP ex. VAT = โ‚ฌ5,791.50
  • TOTAL PRICE = AU$9,315.77

3. United Kingdom (VAT Rate: 20%)

  • ยฃ6,400 = AU$11,593.85
  • (1 AUD = 0.55 GBP, dated at 09/03/2023)
  • MSRP ex. VAT = ยฃ5,120
  • TOTAL PRICE = AU$9,275.94

2. Spain (VAT Rate: 21%)

  • โ‚ฌ7,300 = AU$11,741.40
  • (1 AUD = 0.62 EUR, dated at 09/03/2023)
  • MSRP ex. VAT = โ‚ฌ5,767
  • TOTAL PRICE = AU$9,275.70

1. Italy (VAT Rate: 22%)

  • โ‚ฌ7,350 = AU$11,820.01
  • (1 AUD = 0.62 EUR, dated at 09/03/2023)
  • MSRP ex. VAT = โ‚ฌ5,733
  • TOTAL PRICE = AU$9,219.18

Other Locations

Cartier sites for many other countries and EU locations (including Ireland, Denmark, Sweden) seem to resort to the UK address even using a VPN. If youโ€™re looking to make a purchase and the location is not on this list, itโ€™s worth looking at the countries with the highest rate of VAT or equivalent consumption tax.

Be sure to first ascertain whether those countries have a tourist refund scheme to support the tax (e.g. India levies a high tax rate on luxury goods but is yet to introduce such a scheme for international visitors).

Top 5 highest VAT rates in Europe:

  • Hungary (27%)
  • Denmark (25%)
  • Norway, Sweden (25%)
  • Croatia, Finland, Greece (24%)
  • Ireland, Poland, Portugal (23%)

Happy hunting team!

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Randy Lai
WORDS by
Following 6 years in the trenches covering consumer luxury across East Asia, Randy joins Boss Hunting as the team's Commercial Editor. His work has been featured in A Collected Man, M.J. Bale, Soho Home, and the BurdaLuxury portfolio of lifestyle media titles. An ardent watch enthusiast, boozehound and sometimes-menswear dork, drop Randy a line at randy@luxity.com.au.

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