Wow, didn't expect that, I would have assumed that everyone paid a deposit then made the final payment when they collected the watch. What was the deposit situation elsewhere, 10%, 20%, 100% or somewhere in-between?

 

I paid 20% in the UK.

 

30% in Asia

 

Just so that we are on the same page, please repost my comment\comments that in your opinion showed that I "came down very hard on Taz" please show me where I was relentless on multiple threads, to the point of bullying, but while your at it you might want to check the many posts your friend Taz made where he made rude and insulting comments to serveral members.
Also you are completely wrong, I have not "done exactly same thing" as Taz, when it comes to flipping the watch, not even close.

 

€500 in NL, Belgium didn't require down payment, they just have a reservation list

 

£0

 

So Stufflers Mom has flipped the first to subsidise the potential second, good business sense really but behaviour that encourages a degree of negative feedback. At least he is brutally honest about all his intentions.

Looks like they are going to be arriving in greater numbers very shortly, disappointed to miss the anniversary but I guess it was a pipe dream.

 

Thank God that you reserved only 2! With £0 you could have reserved multiple indeed.

 

Yea i'm not going to start him up again as I don't want to get this thread locked as well. I've moved on from it sold mine weeks ago and he can sell 9 more for all I care.

 

Now that's a great deposit, one I like very much

 

I find the whole 100% deposit a bit daft, 10% should really hold anything, especially with no firm delivery date.

 

That's what surprised me, I can understand an AD or OB requesting a deposit, 10%,15%, 20% or even 25% at a push but 100% seems way over the top.

Is there a reason why the OB's/AD's asked for full payment in advance, is this normal practice in the USA?

 

‘Serial Flipping’is trading. Thus in UK tax is due at 20%.

 

Please explain?

 

Just when I thought it was safe to join this thread as a new comer to the world of Omega and Speedmasters

Was lucky enough to collect my first Speedmaster this week and thought I'd do it in style

 

Can you define 'Serial Flipping is trading', and how that equates to 20% tax please, I am curious as I have never experienced this.

For example, If I buy a car for £1000, service it, give it a thorough valet and sell it for £2000 as a private individual I do not pay tax on this transaction and I can do this a number of times during the year and end up with a better car than the one I started out with if I trade wisely. My activities may raise a question at the licensing centre but otherwise I am doing nothing wrong.

However if I make my living buying and selling cars then yes I would have to pay tax on my earnings once I go past the tax threshold.

Does the same not apply to buying and selling a watch or watches?

 

A beautiful watch, many congratulations, enjoy and wear in good health.

 

I believe it does, but I was looking to see the logic applied to that comment, as I've flipped many watches over the years nearly all of them have been at a loss, so I was hoping for a tax rebate.

 

Many thanks Martin, it's such a nice watch in the 'flesh'

 

If you look at the HMRC website ‘Buying to sell is classed as trading’. In reviewing certain posts having ‘customers’ would infer that you are trading. If you buy a watch and then sell it a couple of days later and make a profit you would have to explain HMRC the rational that was not trading.your intention was to buy and sell for a profit. HMRC would look at the pattern of behaviour and thus make a decision. Selling nine or ten watches in 3 or 4 years with profits you could be classed as a smaller trader.