Future Of British Business
Rolex Watches on Sale in UK for US Visitors as Pound Slumps
- Rolex already raised prices this month by about 5% in Britain
- A Daytona watch would sell for 31% less in UK with VAT rebate
The crash in the value of sterling has put Rolex and other luxury watches at discounts of as much as 19% for US visitors lucky enough to get their hands on the coveted timepieces.
Promised policy changes by the new UK government including a plan to reintroduce Value Added Tax rebates on goods bought by tourists could even boost the discounts to as much as 32%, according to watch retail industry publication WatchPro.