If you are travelling overseas, either for business or pleasure, it is a good idea to buy luxury goods. There are many reasons to buy your luxury goods overseas, and it’s not just because of the variety. It’s also because of the prices that are lower than at home, and this is largely due to the tax savings.
Where is the best place to buy luxury goods?
The world is global and you can buy luxury goods pretty much everywhere today. There have always been many designer shops in Europe and shoppers love going to France or Italy to buy clothing and shoes.
The truth is, those same designer items can now also be bought in Hong Kong, Tokyo, Cape Town and London. And with the Internet, almost everything is available online. But there are some places that are better for luxury goods than others, and that is because of exchange rates, competitive buying and no tax.
Walk the streets of Hong Kong, Tokyo, New York or Johannesburg
Most big cities have a fantastic selection of luxury goods. Shopping is always a huge part of the economy and if the exchange rate is on your side, it is most often far less expensive to buy luxury goods in another country. New York has an amazing selection of designer shops and luxury goods but the prices in New York are high.
Johannesburg has some of the smartest stores in the world and you will see shoppers from all over the world trawling through the shopping malls. But it is not cheap! You do need to do a little research before you choose where to shop, especially if you want good deals.
If you are buying a luxury watch for example, look at The Watch Company in Tokyo. This is a store that is visited by shoppers from all over the world, because of their fantastic selection of watches and also because of their fantastic prices. The watches are tax-free for foreigners, the exchange rate is on your side, and luxury watches are great investments.
Buying luxury goods for presents
If you are travelling overseas and want to buy something really special for your loved one, partner, good friends or anyone really, consider buying luxury goods. You can easily buy presents that are gimmicky or fun, but a good designer item, a real luxury good, is something that will last forever.
If you buy a really necklace, as opposed to buying lots of little souvenirs, the good piece, the luxury item, will be valued for years. And if you buy a luxury timepiece, the watch will not just be valued for years but will be valuable forever.
A luxury timepiece can be passed down from generation to generation, and will always be an investment. Buying luxury goods is an investment. Compare a good silk shirt to a cheap rip off. Sure, you spend a lot more money on the real shirt, but, it lasts for years. The rip off can be worn once, maybe twice, and then you have to spend more money on another shirt.
Tax free luxury goods
Not all countries offer tax free incentives so do your homework before you invest in a luxury item from overseas. Again, we bring up Tokyo and The Watch Company. Take a look at their website, as you can also buy online and still get the tax free deductions.
All luxury watches bought from The Watch Company are tax-free. And because of their large buying power, and because luxury watches are their specialty, the prices are really good.
Whether you are buying watches, gold, diamonds, leather goods or even designer clothing, do a little research and compare prices. And service too.
Are luxury goods indulgent?
It’s really important to indulge yourself sometimes! And also, to think of your family, the future, and investments. Buy an indulgent present for your family – not only will they love you, it will be an investment.
Luxury goods many seem indulgent but owning them will make you feel good, they will last forever and if you can get a good deal, get a good deal. Always compare the prices of luxury goods if you have the time, and do your homework.
Make sure the company you buy from is reputable and that your luxury goods, if they are jewels or luxury timepieces, that they come with a warrantee or guarantee.