Which is the cheapest country to buy Rolex watches in?
Rolex works hard to try to have the same prices in the whole world in order to avoid arbitrage and stock moving from one market to the other due to it being cheaper in one market and more expensive in another.
Rolex’s ultimate goal is to have the exact same price all around the world, but balancing the retail prices with each other across the world is not an easy task. Naturally, what affects the retail price is the current situation of the currency in which the respective authorized Rolex retailer trades. If all countries would use the same currency, this wouldn’t be an issue because Rolex would simply be able to set the same recommended retail price across the world. But this isn’t the case. Instead, you have countless local currencies that Rolex has to pay attention to. If one such is devalued, buying a Rolex watch in that country can, therefore, be a good idea.
Let’s look closer at what the cheapest country to buy Rolex is.
The currency affects the most
Rolex’s goal is to have the same retail prices across the world. But since it is not possible to adjust the retail prices based on today’s currency every single day, the price you will pay for a Rolex watch varies across the world.
Rolex does occasionally increase the retail prices in some markets when a local market has become too much of an arbitrage and is much cheaper than most other places in the world.
With that said, it’s difficult to list specific countries where it is the cheapest to buy a Rolex watch in because, in theory, they should have the same retail prices. Furthermore, since the currencies are constantly changing, a country that may be arbitrary today may not be tomorrow.
If you want to find the cheapest country to buy a Rolex watch, you should follow the local retail prices around the world and compare the prices with your own currency. If one currency dumps, the retail prices there can remain low compared to the rest of the world until Rolex deems it appropriate to increase the retail price in that local market.
Can you negotiate Rolex prices?
Another thing to consider is discounts. As Rolex has grown in popularity and the waiting lists for many models have grown rapidly, authorized Rolex retailers become less and less inclined to give discounts. Simply because they don’t have to in order to sell.
But the discounting culture varies a lot around the world and can affect whether you will get a discount or not on your purchase. It’s difficult to say in which countries you will have a higher chance of getting a discount because it depends on so many factors such as:
- The model you buy
- How well the store has sold that month
- Who you are buying from
- How much you spend
And have in mind that on popular watches, you should never expect a discount because these get sold for the full price in today’s market. Of course, the more expensive and the less popular models you buy, the greater the chances that you will be able to negotiate a discount.
Can you buy tax-free?
This is without a doubt the factor that affects the price of a Rolex watch the most.
Buying tax-free is like getting a discount only you won’t have to negotiate the price. How much the tax/VAT depends on which country you buy from. You should also bear in mind that this is only possible if you are not locally residing in the country (or, if it is in the EU, in the whole of the EU). Furthermore, not all countries or continents have a tax scheme that allows tax-free purchases. However, buying tax-free can also be possible if you are living in the EU and are flying to a country outside the EU, or the reverse, assuming there is a Rolex boutique at the airport.
In many cases, you won’t get the full tax back since services like Global blue charge a fee.
The best place to buy Rolex watches tax-free is in Europe. This is because of the high VAT (Value Added Tax) that the EU has. The lowest rate of VAT is 15%, but most countries have a VAT of about 20%.
The countries with the highest VAT are:
- Denmark: 25%
- Sweden: 25%
- Norway: 25% (Note, Norway is not in the EU, but you can still purchase tax-free if you are residing outside the EU).
- Finland: 24%.
When you buy tax-free, you will get either the full VAT back (or less the fee), depending on which tax-free system the authorized Rolex retailer uses.
Today, getting a discount of 15-25% on Rolex watches is extremely difficult due to the current state of the market, so getting “up to 25% discount” when buying a Rolex watch can make it a very good deal. Research the countries that allow for tax-free purchases, and have a look at which currency their use and how it holds up against the rest of the world. A weak local currency (low retail price compared to a different currency), together with a tax refund will result in a low price compared to the rest of the world.
Ridiculous article, doesn’t even answer the question of which country has the cheapest rolexes in terms of currency value.
Hi,
Thank you for your feedback.In theory, Rolex watches should have the exact same price regardless of where you buy them. But due to currencies, taxes, etc. this is not always the case in practice. With that said, it changes all the time. A country where it is more affordable today may become expensive in relation to other countries tomorrow.
Kind regards,
MW
Hey Krys, if you’d actually read the article it explains exactly why you can’t point out one country.
Agree. Totally useless. I want my five minutes back. lol
Respected concerns T,he reading is not providing the full information of the title , cheapest price dealing countries .
The point of this article was? .. at least answer the question
Hi,
This is a rather complex topic, but if you read carefully, you should be able to extract a number of answers to the question.
Thank you for readong.
Kind regards,
Millenary Watches
Hi,
I have been trying to source a new Sub from an ad for a few months now and it is a horrible experience.
I have a milestone birthday coming up in July and wanted to treat myself however I am being told because I dont have a Rolex purchase history they will not even add my name to the waiting list.
I have purchased a Tag and Longines from Goldsmiths (watches of switzerland) but because they dont have a Rolex hub in my area they dont consider my previous custom.
I know some people flip these watches for profit but I was dismayed to see the only Rolex ad in N.Ireland charging twice the list price for a “preowned” piece.
I dont want to risk 7.5k on grey watch or allow ads abusise their positions to sell other merchandise just to get on the waiting list.
The whole thing stinks!!
Any thoughts?
Regards
Stephen
Hi Stephen,
Thanks for sharing your experience and thoughts.
You may think what you want about the situation, bit it is all grounded in the fact that the demand surpasses the supply substantially. As a result, it makes sense that ADs prioritize their best client’s requests. After all, they are just like any other business. And like all businesses, they are driven to make money. From an economical standpoint, there’s nothing strange in this at all.
Kind regards,
Millenary Watches
Watches are like cars, as soon as you have it, the devaluation starts; Rolex has the opposite situation and is just following offer/demand. If you want a new Rolex, you need to wait, and if you want it faster you need to double or triple the bet.
I rarely buy new; I buy in the grey market, in places where you can see the production date with authenticity certified. I was able to find a Rolex still with 3 years of the original warranty, in 40% more than the retail price (you can be paying in general terms more than 300% in some models, so, not a bad deal considering that the same watch in other places was 80% above retail price).
Thanks for sharing your experience and thoughts!
Kind regards,
Millenary Watches
Agreed with Adolfo, I just purchased Daytona Platinum 116506 nearly double list, and delighted
Thanks for sharing! And congratulations on a marvelous watch!!
Kind regards,
Millenary Watches
I agree the article does not provide the answer we were expecting but did explain the universal pricing strategy by Rolex. VAT was also explained but Duty free options were not. From what I can see this a dicey subject but worth exploring if you are keen to buy as cheaply as possible.
Hi,
Thanks for your comment and input.
It is impossible to say where it is the cheapest at a specific given time as this depends on the current retail price in the respective countries (some times, a country’s prices are low in comparison to others, whilst at other times, it is higher), your own local currency, and the currency in the country you are buying. All of these factors play a part in where it is the cheapest to buy. And also tax free as you mention.
Kind regards,
Millenary Watches
Nuts paying over the odds for a second hand model. If demand drops as economies normalise Rolex will increase supply, which they deliberately kept low.
Most trends mid lockdown are reversing..city rentals etc ..no tenants last year now Manhattan bid.
Best look for a CHF cross that is strong..I have bought several watches in ski resorts at a discount when GBP/CHF was over 2. Swiss watches are costed in CHF so I gained 60% just from the francs appreciation.
why do we pay taxes? What do we ordinary people gain from paying taxes? in many european countries people do not receive economic aid or education !!!! schools have become more entertainment centers than they teach !!! do not politicians look at their own interests more? it is seen that the freedom of people is violated more recently !!!! to move with a rolex, to look like a mobster! while politicians are not considered as such!
Hmmm…. ROLEX IS NOT A TIMEX… you pay what u get for…. STILL LOOKING FOR A ROLEX…..should I travel to “Switzerland” since its made there?? Is it cheaper…. please do tell
Hi,
No, Rolex watches are not necessarily more affordable in Switzerland. The benefit is that you can get a tax refund of about 7% but there are countries where the tax refund is even higher, depending on where you are from.
Kind regards,
Millenary Watches
Are there price, discount advantages buying at a duty free store in Hong Kong or Malaysia?
Hi,
Not really. The benefit of Hong Kong is that there are a lot of watches there and no import taxes so prices can be slightly lower than in other parts of the world. At the same time, you cannot buy tax-free so if you compare that to buying tax-free in countries that have tax/vat, you may be able to get a better deal.
Kind regards,
Millenary Watches