macrophotofly
Maximum Pace
- Aug 27, 2012
- 581
- 234
For those who haven't spotted the JPY/GBP FX rate is now north of 171. The Euro is also hitting new highs vs JPY.
The UK/European website route for bike parts may be fast becoming last years game (unless local retailers are also forced to increase prices at the same rate).
I had a quick check on some well known UK websites (lets call them "W" & "C" purely to elicit a comment from HFM) to see how they were handling the conversion and fast moving FX rate (a repeat of something I did two years ago when I first ordered).
Both "remove the 20%" VAT*
W does it correctly, reducing their GBP price by the full 20%, but C seems to have decided at some point in the last 2 years to take a cut themselves, they are only reducing as if VAT was 14%.
FX
If you pay in JPY, C is currently converting at 174.5 - probably a similar rate to what you would get from your credit card and cheaper if your credit card also applies charges for conversion. W is at 176.4 which is a bit steep
Obviously as long as you are price-comparing the end JPY price (and not forgetting the possibility of duties at the Japan end), none of this will matter to you, but those who know their credit cards conversion rates or have access to other currency funds might want to consider their options
*(they actually also avoid EU import duties by having a distribution point in Asia - I believe either Sing or Phillippines - amusing how many of their customers are amazed by how quickly something arrives in Japan/Australia believing it has been posted from the UK!)
The UK/European website route for bike parts may be fast becoming last years game (unless local retailers are also forced to increase prices at the same rate).
I had a quick check on some well known UK websites (lets call them "W" & "C" purely to elicit a comment from HFM) to see how they were handling the conversion and fast moving FX rate (a repeat of something I did two years ago when I first ordered).
Both "remove the 20%" VAT*
W does it correctly, reducing their GBP price by the full 20%, but C seems to have decided at some point in the last 2 years to take a cut themselves, they are only reducing as if VAT was 14%.
FX
If you pay in JPY, C is currently converting at 174.5 - probably a similar rate to what you would get from your credit card and cheaper if your credit card also applies charges for conversion. W is at 176.4 which is a bit steep
Obviously as long as you are price-comparing the end JPY price (and not forgetting the possibility of duties at the Japan end), none of this will matter to you, but those who know their credit cards conversion rates or have access to other currency funds might want to consider their options
*(they actually also avoid EU import duties by having a distribution point in Asia - I believe either Sing or Phillippines - amusing how many of their customers are amazed by how quickly something arrives in Japan/Australia believing it has been posted from the UK!)