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Slowmotion
Joined: 15 Aug 2009
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 Posted: Tue Oct 19, 2010 10:24 pm Post subject: |
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| Some of these rates are outrageous |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Oct 20, 2010 4:14 am Post subject: Re: Import customs tax on diamond rings? |
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| bish wrote: |
| ttompatz wrote: |
| bish wrote: |
I want to order a diamond ring for my wife to be but am not keen to do it here. I have been looking online at shops like Blue Nile and would like to order from there. I have checked the Korean customs website but can't find the information I need regarding customs tax on such items.
Has anyone here imported a diamond ring before and do you remember how much the percentage cost was for customs tax? |
You do realize that the cost of importing (not to mention the cost difference when you buy) will exceed the cost of flying to a free port like Hong Kong and getting one along the golden mile?
The difference in prices alone will pay for the weekend get-a-way (air/hotel/transfers).
Just something to think about.
I don't know about currently but there used to be (as recently as 2006) a 100% import tariff on precious stones and jewelry along with the customs duties (25%) and VAT (10%).
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Good info, thanks. Did you go to Hong Kong yourself? Any further tips on good places to look and if buying a couple of rings would be doable over one weekend? |
Yes, I have made the trip and bought several diamond rings in HK including the wife's engagement and wedding rings and a man's ring for myself.
Compared to buying them in Korea the savings were on the order of 50% (1/2 the cost compared to the shops in Jongno sam ga.) In total the saving (price difference) was on the order of 4 million won over 3 rings.
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Narconis
Joined: 29 Jul 2009
Location: Phoenix, AZ
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| Posted: Tue Nov 01, 2011 4:18 am Post subject: |
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| Does anyone have the number for Customs? I would like to have a ring shipped to me that is already paid for...but I want to know how much the duty is going to be. I've spent hours trying to find a definite answer to no luck. There are about 100 numbers listed on the website...but I have no idea which one to call and if they speak English... |
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