Questions about high value overseas parcel

[low-enghooi]

http://search.ebay.com.au/320471448527

OK. Please forget for a while this actually is a coin.

Assuming you want to buy this coin at the asking price of US $9,750.00:

1. We will declare full value on custom forms, no exceptions. Items improperly declared can be confiscated by customs, and we want all shipments to go through without any problems."

What are the problems (or is there any) you foresee you will be facing to get it through Australian customs? Do you have to pay GST for this? If so, how much?

2. I am curious as to how the customs knows the item is improperly declared. What about I bought a bargain for say $100, where the fair market value is $1000? Or they match it against the invoice? Or somehow they have a system to track down to the seller's account come the time seller pay the tax?

3. Have you sent high value items (say above A$1000) to overseas buyer? If so, do you declare full value on custom forms?

4. Often I see the auction house (not from USA) declare very low value on custom forms, say $10 or maximum $100. Are they in anyway against the law? Practically it is rare to buy some item worth only $10 (postage itself cost more than that, if it is registered, and most of the time this is mandatory) from a big auction house. So why do the custom let it go?

5. Have you bought anything from any public auction in USA and do they declare full value?

[tellomon]

      *snipe*

[gr8-expectations]

Hi Low,

I can answer a couple of your questions;

1. You dont have to pay GST because it being sold to overseas, GST is not applicable as I understand it for any overseas or export sale.
2. Customs have a value guide but we are not talking so much here about Aust Customs its Malayasian Customs really you need to check out and find out what they say there
3. You may be best to get a local coin person who is experienced at this to have the coin sent to them registered and insured for full value and then have that person send it on
4. Customs can be sporadic given the volume of packages they deal with but if they randomly choose your pack and it is grossly undervalued according to their system in malaysia you may be the victim of a fine, and yes it is illegal to make a false statement

I had this for a buyer from martinique (an island) for a very high value Microphone I sold, he asked me to declare less value (i did lol) it got through .... shhhh and they are very tough there as it is part of france and they are also tough into france itself. Known for it, best to speka to one of the coinee export experts there will prolly be one here.

[low-enghooi]

Thanks gr8.

Do you pay GST if you buy from overseas seller? Asking this because we will have to pay gst by 2011.

[gr8-expectations]

Hi Low,

It depends on the country but as i understand it you only pay GST for items if you buy within your own country and GST applies, if the coin you are considering is in Australia for example you (as an overseas buyer) do not pay GST

[gr8-expectations]

GST here is 10% but you would not have to pay that on ANY item if it is being shipped from here overseas

[low-enghooi]

Thanks again gr8.

That sounds good.

[*Brum6y*]

GST here is 10% but you would not have to pay that on ANY item if it is being shipped from here overseas

In fact, if you paid GST when you have purchased and item to send overseas, keep the 'GST invoice' and you can claim the GST back.

I once worked at Tandy and this is how the 'tax free' purchase of goods being exported was explained to us.  We had a few people buy stuff they were taking out of the country, so we had to know how it was done.

[low-enghooi]

Thanks Brumby.

Now only I understand why I get to enjoy a surprised unannounced 10% discount on a coin I bought from a dealer few years ago. The dealer didn't mentioned about this in his website, and the shopping cart software automatically discounted 10% upon checkout.

I thought I am that special lucky person. I didn't ask him afraid of him asking for that 10%.