Buying engagement ring in USA

MrWright

I am considering getting engaged when in the US on holiday. Can anyone offer any advice when buying a ring etc out there? Does it make financial sense, or would it be better to wait until I got home? I have a credit card that does not charge a loading fee for purchases abroad.

Is there any tax etc I can reclaim?

Thanks, GW.

ferf1223

where are you going? advice on where to buy a ring would likely vary depending on your destination.
and no, you cannot reclaim the tax on the purchase in the US...but arguably you legally you should declare the ring when returning to the UK and would then be subject to tax on this end, I think?

victor2

You might be able to avoid paying state tax in the US by showing your British passport, if the dealer is set up to do it.
But as ferf1223 says, you may be due to pay duty and VAT when you return to the UK if you declare it. I believe the current exemption on duty for goods purchased outside the EU is £390.
What it costs you will obviously depend on the exchange rate used on your credit card bill and whether or not it "needs" to be declared.

Edit:
Bear in mind the £390 applies to the total value of goods purchased and be prepared for an inspection of all your luggage if you declare something.

claire16c

My ring is from the US. We didnt try to get any tax off it, we kinda forgot about that, but you might be able to because Im sure bloomingdales in the US have some kind of tax exempt thing for tourists if you show your passport. Im not sure if every retailer is capable of doing it though. Theres no harm in asking. We found the prices much cheaper there. American women seem to all have huge diamonds so perhaps thats why. So I came back with a nice ring that we couldnt have got here for the same price.

When you get to the airport of course you are supposed to go through the red exit with something to declare as the value is over £390 of your total purchases.

Whether or not you actually do that ( Ive never seen anyone go through that exit in my life) is another thing..

I posted the receipt home, and gave the box away to a woman in our hotel when she saw I was about to bin it.

ferf1223

Macy's do do a tax relief thing for out of state visitors - hadn't considered that the ring might come from there, but I suppose maybe...

But just checked and the discount does not apply to jewelery.

http://www.visitmacysusa.com/visitors/savings.cfm


Not valid on previous purchases, special orders, special purchases, services, jewelry, trunk shows...

But once paid, there is no mechanism to claim tax back on purchases made in the US.

The other thing that may be worth considering is the guarantee...I bought some diamond earrings from a jeweller in the US once and they do have a guarantee (and free cleaning once a year) but if I had an issue with them, I would obviously have to take them back to the US to have it sorted out. In my case, they weren't terribly expensive and I didn't see it as an issue...an engagement ring may be different?

ponymad_3

A friend of a friend got her huge diamond ring in NYC at Tiffneys(12k s worth!?) ... they made an appointment for the purchase before they left home... I m guessing no duty was paid! Apparently it was a massive bargain... I don t think they read MSE

MrWright

Thanks for all the help, still unsure of what to do!

pusscat_1

Though big savings at American stores such as Tiffanys can be made, my daughter got engaged this year in June in New York and her fiance bought a ring there at an independent shop. After taking to a well known UK jeweller yesterday, to have a minor scratch polished out, she was informed the gold was of a very poor standard and porous, the setting shaky and was advised to get the diamond [ok luckily] re- set asap, at a cost of nearly £700, not such a bargain as was first thought! Not sure if there is any way of reporting the store or getting any re-imbursement, any ideas anyone?

victor2

One of the problems with buying abroad is that you can't easily go back and complain.
Another option to consider is buying just the stone from a reputable dealer in the US and having it set in a ring back in the UK. Any stone of significant value should have some sort of certificate or written guarantee with it describing it in detail.
At least then the recipient can say "this is my engagement ring - the stone came from ........" They like that, in my experience, which is I admit limited, but I did buy a diamond for a ring abroad!

pusscat_1

I still find the best deals on diamonds are in Dubai, my '50th' ring was valued back home at 4 times its cost, just make sure to purchase from the diamond and gold mall, which are all authorised dealers and not be tempted in the gold souk!

hoxtonbabe

victor2 wrote: »

One of the problems with buying abroad is that you can't easily go back and complain.
Another option to consider is buying just the stone from a reputable dealer in the US and having it set in a ring back in the UK. Any stone of significant value should have some sort of certificate or written guarantee with it describing it in detail.
At least then the recipient can say "this is my engagement ring - the stone came from ........" They like that, in my experience, which is I admit limited, but I did buy a diamond for a ring abroad!

I totally agree with this!! I purchase my diamonds from the USA and get it shipped over, yes I have customs, but the quality of the diamond is top class for the money. If I was going anywhere in the USA anytime soon I would buy my diamonds whilst out there then get my jewellers to set it. There are some very reputable stores in the USA, don't bother with the department stores. Try a company called good old gold, there is also a forum that is for jewelery/diamonds
but for the life of me cant remember the name...but it wil have lots of useful info to help you decide.