The luxury watch market has seen significant shifts in 2024, with currency fluctuations and changing tax policies creating new opportunities for savvy collectors. If you've been dreaming of a Rolex Submariner or a Daytona, the country where you make your purchase can mean thousands of dollars in savings.
Switzerland: The Spiritual Home
While Switzerland is where Rolex watches are manufactured, it's not always the cheapest place to buy. However, you do get the experience of purchasing from the source, and Swiss retailers often have better availability of popular models. Expect to save around 10-15% compared to US prices after VAT refund.
Japan: The Unexpected Leader
With the Japanese yen at multi-decade lows against the dollar, Japan has emerged as perhaps the best country to purchase luxury watches in 2024. A Rolex Submariner that retails for $9,100 in the US can be found for the equivalent of around $7,500 in Tokyo after tax refund. That's a savings of nearly 18%.
United Arab Emirates: Tax-Free Paradise
Dubai and Abu Dhabi offer completely tax-free shopping, making the UAE an excellent option for watch purchases. While the base prices are similar to Europe, the lack of any VAT or sales tax means immediate savings. Just be aware that popular models can be harder to find here.
United Kingdom: Post-Brexit Bargains
The weakening pound has made the UK increasingly attractive for luxury watch purchases. Combined with a 20% VAT that tourists can claim back, the UK offers savings of 15-20% on many Rolex models compared to US retail prices.
Key Takeaways
Before making a major purchase, always check current exchange rates and confirm VAT refund eligibility. Authorization dealers may have different pricing and availability, so it pays to research and potentially visit multiple boutiques. The savings on a luxury timepiece can easily cover the cost of the trip to purchase it.
Alex Morgan
Watch enthusiast and luxury retail analyst with 10+ years of experience tracking global pricing trends.