Getting PAM312 from Paris

[Hong Geap]

Hi guys, I have a friend going to Paris during CNY. So I have asked her to help me get a PAM312 from there. As I have been wanting to get a Panerai for a long long time. As this is my first time purchasing an expensive watch. I will need advise from you guys! I have been quoted SGD10.4k at the local Panerai boutique at ION. According to the link posted by fellow SG-ROC user, lufu.
(I can't post link because I don't have more than 50 post count)
It's only 6000EUR. However, I am not sure if the price in Paris would be 6000EUR too. Also, I have checked online that the VAT refund rate for France is 19.6%.( please correct me if I am wrong.) I have also learnt from other thread that AD can actually give up to 5% discount. If so, the price would be 6000EUR X 0.804 X 0.95 = 4582EUR

Current conversion rate is 1EUR to 1.63SGD, so final price would be around SGD7470.

Another thing is the production year. Is it important to go for the "P" series, as it is produced this year? Will an "O" series be cheaper than a "P" series? Will there also be any difference between the two?

In summary, my doubts are

- Price of PAM312 in Paris?
- Vat refund rate of France?
- Discount from AD or boutique?
- Would it be cheaper to make payment by cash or credit card?
- Production year

Thank you for reading! Looking forward to your advice!

[Hong Geap]

Getting PAM312 from Paris

Hi guys, I have a friend going to Paris during CNY. So I have asked her to help me get a PAM312 from there. As I have been wanting to get a Panerai for a long long time. As this is my first time purchasing an expensive watch. I will need advise from you guys!
I have been quoted SGD10.4k at the local Panerai boutique at ION. According to the link posted by fellow SG-ROC user, lufu.
It's only 6000EUR. However, I am not sure if the price in Paris would be 6000EUR too. Also, I have checked online that the VAT refund rate for France is 19.6%.( please correct me if I am wrong.) I have also learnt from other thread that AD can actually give up to 5% discount.
If so, the price would be
6000EUR X 0.804 X 0.95 = 4582EUR
Current conversion rate is 1EUR to 1.63SGD, so final price would be around SGD7470.
Another thing I need to know is the production year. Is it important to go for the "P" series, as it is produced this year? Will an "O" series be cheaper than a "P" series? Will there also be any difference between the two?
In summary, my doubts are
- Price of PAM312 in Paris?
- Vat refund rate of France?- Discount from AD or boutique?
- Would it be cheaper to make payment by cash or credit card?
- Production year

Thank you for reading! Looking forward to your advice!

[currypok]

Not sure if the P series is out in the market yet..if it is not a popular model, they might still be clearing the O series considering that it is just the start of the year..

No discount from boutique..you can try the ADs though..definitely you wouldnt be able to get back the full 19.6% VAT refund. I bought a PAM000 last month in Milan and only got back 13.5%..My wife bought a bag in Paris and the effective refund was only 11%..tink you should buy it in Italy as the VAT refund is higher..

Pay cash if you can as the exchange rate is not as high as that of using a credit card..you should be able to save the 1.5/2.5% credit card fee (more than enough for a nice cappucino )please note that you will need to sign a declaration form if paying above 999euros in italy though as they are quite strict on paying cash due to anti-money laundering laws..

[Watcha]

The calculation have to be more prudent.

1. Unless you are using cash for better rates, credit card exchange rate will not be 1.63.

2. Tax refund will be around 12% after agent fees.

3. Discount subject to AD.

[skydweller_sg]

some comments on the calculation by TS
1. VAT rebate - if the country VAT is 18-20%, you cannot get full 18-20% back
more likely 12-15%
even for singapore GST, tourists do not get back full 7%, its about 5-6%
2. stock - may not have stock for popular models such as 312
3. ADs discounts - they typically do not give discount for popular models, and esp to tourists because they know you can get the VAT rebate - they'd rather give the discounts to their local regulars
4. exchange rate -1euro ~sg$1.63 - if you pay by card, you will never get this rate
even if u go to money changer now, the rate will be about sg$1.65 not 1.63

considering the above, calculation should be 6,000euro x 0% discount x 0.85 VAT rebate x 1.65 exchange rate = sg8,415
even if AD does give the unlikely 5% discount, the price would be sg$8,000 not sg$7,470

all the above is exclusive of the 7% GST, which changi airport customs will charge when you bring the watch back to singapore

[Hong Geap]

Hi guys, firstly, I would like to thank you all for replying to my thread, and clarifying my doubts. My budget is only SGD8000. So I guess I would not be buying it if AD doesn't give the discount. However, my friend would also be going to London after Paris. Would it be cheaper to get it in London since the GBP has been depreciating. Thanks in advance!

[kadios]

Have you ever consider grey dealers here??? Some offer $8.2-$8.4k for bnib. Pay a little bit more for convenience and best of all, you get to enjoy the watch ASAP. When you claim vat refund, some refund are not claimable on the spot. I went to Rome and make purchases for friends and the longest vat refund came back to my card 6months later. Some I heard dun even get it...

In addition, you need to make purchases beyond a certain amount to get the maximum vat

[Hong Geap]

I have never considered grey dealers, as this is going to be my first luxury watch. However, the price seems attractive. So I might consider getting from grey dealer. Although I am not sure how, and how does it actually work.

Can you please tell me more about the Max Vat refund? Quite curious about that.

[Hong Geap]

I have never though of grey dealer since I am not sure of what it is, and how it works. Also, if warranty would be provided as well. However, the price seems attractive, so I will definitely consider getting from grey dealer.

Do you mind telling me more about maximum vat refund?

[Aloyeo]

You are probably better off taking a train into Italy for the most vat refund for the watch then go back

[patricia]

Buy from our guys here in sgroc.if your friend is a lady,it is not that safe to walk around with such an expensive item as it is very common for robbery and pickpockets. The savings would not be much unless you know the AD there very well and they give you very good discounts and vat refund.

Check out from our guys here.

[coern]

there are a number of threads on similar topics, you should do some research first before posting so many questions.

before your send your friend on a wild goose chase, the least you could do is check out panerai website for the ADs in paris, then email them to see if they have stock. I can't imagine you would send you friend around to various watch shops all over paris just for a 312...

from personal experience, the VAT refund can take up to 2.5 months to refund to a credit card, so if I were you, I'd give my friend the full amount first, then ask her to refund me the VAT when she receives it.

i managed to get a 200 euro discount in Milan from the AD (not boutique) off my watch, so probably that's the type of discount she should be negotiating for. for Paris the VAT refund as advised by retailers is 12% of the amount charged to the credit card, which is about right based on what i observed on my charge statements.

if you need to save $100-200 for using cash, and endanger your female friend as a result, I wouldn't think much of you as a friend.

[skydweller_sg]

most people forget to add in the 7% GST that is chargeable when you bring your newly-purchased watch back to singapore

[Hong Geap]

Thank you for replying to my thread! After much consideration, and reading advices from all of you. I have decided to get either a 351 or 312 from a grey dealer.

[coern]

if you kena checked by customs. i think if you wear the watch and just pack the box in your bag, should be quite safe... so far on my (admittedly few) european trips, haven't been checked once.