High duty, short supply drive luxe watch smuggling

HIGH-END, rare luxury watches costing up to ₹2 crore, which are a collector's delight, are a big draw among the rich and famous in Chennai and other metros like New Delhi, Mumbai and Bengaluru.

- SIDDHARTH PRABHAKAR

But fewer authorised dealers, limited choice of products, and 40% customs duty on such imported watches fuel smuggling from Hong Kong and Dubai, official sources said.

Information sourced through RTI applications shows that rare watches of brands like Patek Philippe, Breguet, Audemars Piguet, Rolex, Naviforce, Bvlgari, Astronomia Solar Zodiac from Jacob & Co, IWC Big Pilot, Franck Muller and Girard-Perregaux have been seized from passengers landing from abroad at airports like New Delhi and Mumbai in the last few years.