Is this the same watch that your "friend" inherited back in July....

"Hi all, looking for some general guidance on what to do with this 2998-1. This is not my watch so I will be passing on all advice to the owner who recently inherited it"

 

Welcome to a open forum

 

Its not. But the ignorami are feigning ignorance about what is 'written inbetween the lines'...in part of an ongoing discussion, on an open forum.

Here is the market value.

https://www.rolexforums.com/showthread.php?t=692252

For the record, my personal opinion is :

1)

2)

3)

If I were the potential buyer, this thread would have ended any desire I had in the watch, '.'.

 

This story is more interesting than my Bond book, a covert operation, a member has gone awol, possible government involvement...

 

Well... i don't know the law in your country... but when I "smuggle" a valuable watch from Germany in another country outside the EC for the intention to sell it... that is highly illegal and under severe penalty when you get caught.
Not only import custom fees exist for the buyer... there might be export restrictions and fees also to the seller

 

no, definitely not

 

When you enter the US as a visitor, you fill out a Customs Declaration form. One of the questions asks you to declare commercial merchandise, e.g. articles for sale, and you must declare the value of the articles that will remain in the US. Then you sign the form to affirm that you have made a truthful declaration. So if the form is filled out accurately, CBP could impost an import duty; I have no idea how much. If it is not filled out accurately, it could be a criminal offense.

Clearly, one is unlikely to be caught importing a pre-owned wristwatch, since it is a common object to bring with you on a visit. But if we are talking about legalities here, in principle one should declare items that are being brought into the country to sell.

 

In your country? In Germany I have to file a declaration when exporting valuable items outside the EC worth more than 1,000 EUR... and have to declare cash of more than 10,000 EUR when entering Germany again. Beside that... how you wanna make sure to receive genuine cash and not fake money when doing a f2f deal? How you smuggle that cash in your country , hiding it in your underpants???

 

These are regulations against money laundring. But I do not have to pay fees as a seller when I export a watch to a foreign country - its the sole responsibility of the buyer to pay customs duties and/or VAT depending on the country where he lives.

 

Exactly... but let's assume you want to sell a 20k EUR watch from a country within the EC to the US via a f2f deal and you file all the documents you need to export the watch. No problems so far... but you have to declare with US customs that you are importing such a valuable item... 1st problems occure... then you return with 20k EUR of cash and you have to declare it. Don't you think you will get in trouble then?

 

What a thread ! It covers Speedmasters, import duty and money laundering all in the same day.

To think I only clicked on it to see some pictures

 

It is a versatile forum

 

OP wrote "I don't have a personal number to contact him"

Maybe a silly question but how can you deal on such a valuable watch without exchange phone numbers?

 

At least within the EU there exists free movement of goods without having to pay duties. Another reason to stop BREXIT !!

 

A very interesting thread, leading from selling to smuggling, tax problems and even Brexit...

In my opinion the buyer is no longer interested or seriously prevented by whatever reason.

Yes, and I think that all of the contributors to this thread would have loved to see some pics of the watch...

Anyhow, good luck with the deal!

 

Since when did anyone need to file any documents to leave Germany or any other country because they are wearing a wristwatch?
Do US Customs make a note of every watch that every visitor is wearing, and then check that they are wearing the same watch when they leave? I think not. Sorry, but you're not making any sense.

 

No, but that is not this situation. The watch was brought into the US with the specific plan to sell it. When you enter the US, you have to fill out a customs declaration form, and if you are bringing in items for sale, they need to be declared as such:




Not doing so would make the person who smuggled the watch in, subject to penalties. There's no grey area here.

Cheers, Al

 

Nice watch, going by the bible of Speedmaster101 if its in good condition (middle ground) that $42000, in some situations this is where an international auction house is a good bet.
Yes you pay commission but it opens your watch to the worlds collectors, money gets transferred into your account and the house deal with the rest..

 

A 2998 thread and the only pic we get is a customs form by Al ?! Blasphemy