Antwerp engagement ring, 21% VAT/Insurance

gar44

Hi guys,

I was really hoping to get some quick advice. I am in Antwerp at the moment and have picked and engagement ring. The jeweller offered me two different prices, one with VAT and one without (paying cash).

I just need some advice with regards to paying cash. 1) If I do this will I have any issues at customs travelling home with the ring. 2) if I have it valued when I get home and insure it, god forbid it was lost, will I have any issues not having an invoice from the seller if I were trying to make a claim or will the valuation be sufficient.

Thanks in advance for any advice, I just want to make sure I make the correct decision.

ilovespudss

gar44 wrote: »

Hi guys,

I was really hoping to get some quick advice. I am in Antwerp at the moment and have picked and engagement ring. The jeweller offered me two different prices, one with VAT and one without (paying cash).

I just need some advice with regards to paying cash. 1) If I do this will I have any issues at customs travelling home with the ring. 2) if I have it valued when I get home and insure it, god forbid it was lost, will I have any issues not having an invoice from the seller if I were trying to make a claim or will the valuation be sufficient.

Thanks in advance for any advice, I just want to make sure I make the correct decision.

We bought an engagement ring over in Antwerp earlier this year.

You won't have any issues with customs, I'm presuming the ring will be worn home so customs would be non the wiser and besides, in sure they are used to it at this stage!

We got the ring valued when we got home and insured the ring on that valuation so there is no need for a proof if purchase as far as I know.

Toots

I'm not sure what the deal is with customs so I can't advise there.

As regards the insurance, I'd imagine the valuation is what they'd go on because people might not always have a receipt (say if the ring was inherited or something) but I'd double check it just to be 100% sure. If you're getting the ring put on your home insurance, you'll need to specify the details when you add it to the policy, and you'll likely have to send a copy of the valuation at the time you add it.

Oh and congratulations

hfallada

OP you are going to have to get it valued in Ireland anyway. My mother brought a gold necklace for £200 in Saudi Arabia and when she valued it for insurance in Ireland with an Irish jeweller. He valued it at £800. Buy it without vat and get it valued here( you are going to have to for insurance anyway ). Customs isn't going to stop you as you are in the EU. I would wear the ring anyway until you have it insured

Liam McPoyle

gar44 wrote: »

Hi guys,

I was really hoping to get some quick advice. I am in Antwerp at the moment and have picked and engagement ring. The jeweller offered me two different prices, one with VAT and one without (paying cash).

I just need some advice with regards to paying cash. 1) If I do this will I have any issues at customs travelling home with the ring. 2) if I have it valued when I get home and insure it, god forbid it was lost, will I have any issues not having an invoice from the seller if I were trying to make a claim or will the valuation be sufficient.

Thanks in advance for any advice, I just want to make sure I make the correct decision.

We bought our ring in Antwerp last April. No issues whatsoever with customs, Im not sure how they could have an issue unless someone bulk buys the jewelry.

Re the valuation just bring it to a reputable jewelers over here and they will value it for you however they may have to send it away to do so, we couldn't get one to do it in store. Ring your insurer and add it to the house insurance as soon as you get home. Add approx €1000 to the value of what you paid, if its less than €5000 in total you wont need a cert of valuation for the insurance.

Bear in mind that your o/h is unlikely to want to part with it for a couple of weeks as Im sure you will have to visit relatives, friends and what not, all of whom will want to see it!

Lainey_b01

Hi,

We got our engagement ring in Antwerp last Valentine's day. No issues with customs. Jeweler sent us a receipt stating the price inclusive of VAT (we paid ex VAT) along with diamond cert once we got home.

Regarding insurance, we took out content insurance (don't own a home) and listed the ring on the insurance policy, the ring is covered globally. Didn't have to get a valuation the insurance company's threshold was €6k

Hope this helps! PM me if you need company details etc.

bichonfrise

Guys any recent trustworthy jeweller recommendations for Antwerp, looking forward to heading in the new year?? really appreciate recent experiences

houseplant

Hi, hope someone can help me. I'm proposing next week and we will be hitting Antwerp for the ring. I'm hoping to pay with cash for a better chance at discount. My budget will be €3500-4000, just wondering whats the best way to pay by cash? Do I have to bring the cash over with me, surely that's not safe! Or can I withdraw cash from my AIB Visa debit card over there? Also I heard that there is a limit of cash you can bring through customs at Dublin airport, is this true and if so how much? Thanks.

Here Comes The Trio

houseplant wrote: »

Hi, hope someone can help me. I'm proposing next week and we will be hitting Antwerp for the ring. I'm hoping to pay with cash for a better chance at discount. My budget will be €3500-4000, just wondering whats the best way to pay by cash? Do I have to bring the cash over with me, surely that's not safe! Or can I withdraw cash from my AIB Visa debit card over there? Also I heard that there is a limit of cash you can bring through customs at Dublin airport, is this true and if so how much? Thanks.

You can use a visa debit card in almost every ATM in Antwerp, but not every shop accepts visa debit so cash is usually easiest. Also, there is usually a limit as to how much you can withdraw in 1 day, eg. €500 (this is defined by your bank and can be changed in the branch). It might be best to withdraw it before you come over, from the bank itself as you won't be able to get €4,000 from an ATM. The limit for cash through an EU airport is €10,000 as far as I know, so you should be fine.
It depends how long you're over there also, if you can raise your limit in the bank to €1000 you could bring over 2k and withdraw the rest when you're there.
I've lived in Antwerp so if you have any practical Qs as well (not about diamonds though :P ) I'm happy to help!