VAT Increase effect

[Spice_Weasel]

Does anyone have any views on whether the impending VAT increase will drive up the prices of pre-owned watches? I do not believe that VAT is directly charged on used watches, but if the increase drives up the list price of new pieces, will this lift the prices of the pre-owned pieces?

[Vipers]

Think it will go up, (Everyghing will), but not worth worrying about. If you were to pay £1000 + VAT for a watch now, verses after it goes up to 20%, you only pay an extra £25.00

Its not the end of the earth really.

If you can afford a grand for a watch, whats another £25?

[Spice_Weasel]

I think they will go up too. I am currently looking at a pre-owned piece for £2400. The list price is currently £3350. My worry is that once VAT has risen, the list will rise to the £3420 mark, lifting the price of a used one up by £100 or so.

Edited by Spice_Weasel on Friday 12th November 15:58

[Vipers]

Spice_Weasel said:

I think they wil go up too. I am currently looking at a pre-owned piece for £2400. The list price is currently £3350. My worry is that once VAR has risen, the list will rise to the £3420 mark, lifting the price of a used one up by £100 or so.

Increase of VAT to 20% should only add £71 assuming the price of 3350 already includes VAT at 17.5%

[andy tims]

It will increase the cost of importing s/h watches from outside the EU if they get snagged by Customs