Buying overseas

axel132132

Hi,

I am currently looking at buying some led lighting from china, i have been in discussion with a distributor out there and have agreed a price

£800 for 1000 led gu10 lights including box designs and shipping to manchester airport

This then works out at 80p per led light and i should be able to ship them out for £2 each making a nice little profit

My question is about bringing them into the country, i hear there is a charge at manchester airport for me to collect my goods i have heard many different prices and wonder if anyone has bought overseas and can help me bring some light on the situation

Thanks alot

axel132132

I believe it is called duty tax

DKLS

Have a look at https://www.dutycalculator.com that will tell you what duty and VAT would be due.

axel132132

Spot on thanks alot! Its just an idea at the minute hopefully ill be back on here in a few years with the story of how i made my millions buying and selling from china ha!

OR NOT...

thanks alot

paddyrg

Duty and VAT will be applicable, so the price is already around £1/each. If you add on any landing and clearing costs, they're a little dearer, and add on the cost of getting them safety tested (as importer and vendor you are legally liable so will need the test to get insurance for if you kill someone or burn their house down). Can't see you having much chance from (say) £1.30 each over a small batch. Possibly somewhat higher if you hit minimum premiums.

They're a pound in pound land. Get a new box printed if you must, and you're still quids in.

There's no margin in buying bulk consumer goods from China any more, commodity items will be imported by the million by someone so they get better deals and amortised costs. They will fill many sea containers every week, so pay way less than you'll pay for air freight. You cannot compete on bulk domestic goods.

You may find a margin with specialist products and spotting/creating a niche. The niche needs to be wide enough to make a profit but small enough to monopolise (or in a heartbeat there will be every eBay dreamer jumping in and crushing your prices)

So, I'd advise caution, I suggest you may only be seeing the £1.20 margin on each and dancing to the bank, but reality is you may end up with a pile of expensive, dangerous bulbs you can't shift. Or, frankly, just ripped off by the vendor - your protections are scant, bait and switch is common, and good luck finding them or enforcing the deal in China through the courts. Seems like a huge gamble for a few hundred quid at most, a life on your hands and debt at worst.