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Easy solution....
Have found that certain ADs will gladly accept gold. Frankly (and boldly), only someone lacking financial sense would hold paper currencies as historically they always decline in buying power/value. As an example, the United States Federal Reserve Note (a.k.a. Dollar) has lost over 94% of its value since it was first offered. It is the 'hidden tax' called inflation (currency devaluation). As the Swiss will tell you, gold is money. As JP Morgan (the man) said, "Gold is money and nothing else."
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A very disappointing experience
I was very excited when I arrived at the PP salons in Paris to pick up the 5170 earlier. I was even soaking wet because it was raining really hard. After fitting the watch, I told the salesperson I am now ready to pay for it. I took out my cash and I was ...
I am not French...
but this issue might have something to do with French legislation against tax fraud and money laundry. Let's face it: Pateks are nearly as good as cash money that tend to appreciate in value much more annually that the average inflation is. It would be ve...
This has something to see with the French Legislation.
In France, you can't pay in cash more than 3 000 Euros, which is a bit, just a bit under the 5170 Retail. They can't accept, or they will be sued for that. Note that in Europe, the rule is the same, but the allowed sum in cash differs from a country to an...
No wonder.
Thank you for giving me good and valid reasons about it. I was annoyed earlier because the saleslady simply told me it's a new company policy, and that's it without explaining the reason why. For a tourist like me, this kind of info is certainly a useful ...
So, put the cash on your bank account. ;) ;) ;)
But f you do that in France, the taxman will kill you... Best, Nicolas.
Lol, me too. My limit is just under...
Financial institutions here don't accept large amounts of cash but some AD's still like it. I like to joke with my AD. I'll look at a $30,000 watch and say something like "I'll buy that for $5000 cash on the spot right now!" Fortunately, he has a good sen...
Nicolas these laws are insanity...You need to do something about this ;-)
Best, -- Richard. This message has been edited by -RWK- on 2011-07-20 00:10:52
What is disturbing, here is that you always look guilty.
You have money, you're suspect, not to say you're guilty. You don't have money, you're not worth any consideration. Mad world, which sounds weird when we're in a small luxury world. Best, Nicolas. This message has been edited by amanico on 2011-07-20 00:1...
Precisely! ...These clowns should get a life and leave honest dealings alone. [nt]
No message body This message has been edited by -RWK- on 2011-07-20 00:12:57
Not exactly! You've "cash" money you're suspect!
Hi, There's too much crime around thanks to cash money. In fact I'm lent to think that cash money will disappear someday, at least in developped countries..... Big brother is coming fast! Cheers Dje
"cash" money you're suspect! ...
Right because of what we call "blanchiment d'argent" (laundering of money ?) and the fight against the mafias. if you want to pay cash, you can buy your watch in Germany. greetings from France guy
It seems that even in Germany, they can't accept payments in cash...
Up to 15 K Euros. Or is it 10? Best, Nicolas.
Wait if that's is true then I'm in trouble!
I thought France generally don't use credit card? My visit looks complicated now :o I gotta go find ways to pay for the expense during the trip! Best Tyler
France does use Credit Cards, Tyler... Especially the watch shops.
People say France is a developped Country... Don't be afraid. Best, Nicolas.
Anything more than 10k Euros cash you have to explain yourself ...
That is Eu law and any person having such money like you had on you can be taken the money, if a policeman does question the origin. As a very pedantic person I must say: very well done Patek Paris. Not to blaim you ofcourse! Regards Moritz
They were running out of room to store the briefcases...
Seriously, if this is an issue why does the ECB print 500 Euro notes? The US stopped printing notes higher than $100 decades ago to make money laundering a bit more difficult. Of course, the Swiss go to 1,000 franc notes......
It's not the number on the note; it's the value
500 Euro= USD 710 1,000 CHF= USD 1220 And 50,000,000 zimbabwe dollars - heck, that's nothing: I better post something PP related so this post doesn't get pulled ;-)...
I am glad you told me, now I will have to stuff this back into my pillow case.
This message has been edited by Arnoni on 2011-07-19 18:08:56...
I have to say I understand PP's policy
that's a lotta cash, brother! A little awkward to count it twice and then wonder if any is counterfeit, too--which unfortunately, they really have credible reasons to be concerned in this world we live in... and what if there was a fake bill--and you real...
That is strange
and if I were to hazzrad a guess, it MAY be due to AML concerns or perhaps they have been infomred of counterfeit notes in circulation? And you will also miss out on the credit points for free flights....
Geneva boutique
Does anybody know how to pay in the Geneva boutique as a foreigner? Credit card? Wire? pay in advance? Thanks, D.
You can....
always pay via bank transfer.... (as all bank transactions can be traced and checked) As it has been written above, purchases above a certain amount of cash is illegal for reasons of both money laundrering and for tax evasion... EU has strict rules..... C...
PP should have allowed you to pay cash-
-after taking down your particulars, if its money-laundering concerns. JLC took down mine when i brought cash.
Had a similar experience a few years ago...
when I went to collect my new PP3970. My AD advised me they couldn't accept more than £9k in cash, so I paid a deposit, banked the cash, and made payment by bank debit card....
check, cashier check or money order with proper ID should suffice?
heavy cash "typically" maybe interpreted as drug money or money laundering... In u.s. $10,000.00. you can pay more than $10,000.00 with cash if you provide "acceptable" identification.
Tax evasion
The reason that they don't want anyone paying in cash is to attempt to avoid tax evasion. Cash is vaey difficult to track, weareas credit cards or checks they leave a trace. Best regards, George
Easy solution....
Have found that certain ADs will gladly accept gold. Frankly (and boldly), only someone lacking financial sense would hold paper currencies as historically they always decline in buying power/value. As an example, the United States Federal Reserve Note (a...
..your 'advice' is frightening
AD's will accept gold as payment? There aren't many that would and if you wanted to flag the transaction as suspicious then turnign up with gold bullion would be a great way to do it, parhaps with it strapped to your body under your clothes. There ar eman...
A bit O.T. (with apologies)
Am not wanting to debate or go O.T. here, though yes some AD's will accept gold as payment. It is nothing unusual depending on the country you reside or do business in. Have you travelled to Saudi, India, Switzerland, etc? Yes, have seen the returns on go...
Ok we've had enough of this subject now and the original question was clearly answered! nt
nt This message has been edited by Dje on 2011-07-21 09:37:53