[김기정의 라이프스타일]is a corner that conveys various consumption trends and answers consumers’ curiosity. Reporter Kim Ki-jeong served as the distribution team leader and food team leader of the Daily Economy newspaper, and she is currently working as a consumer reporter.
Ki-Jeong Kim’s Lifestyle 1- Audemars Piguet
Audemars Piguet co-founders Jules-Louis Audemars (left) and Edward Auguste Piguet. Audemars Piguet
Recently, news broke that actor Arnold Schwarzenegger, famous for the movie ‘The Terminator’, was detained for three hours at Munich Airport in Germany. This is because Schwarzenegger, who lives in the United States, did not declare a luxury watch called Audemars Piguet to customs.
Audemars Piguet is called one of the five major luxury watches along with Patek Philippe, Vacheron Constantin, Breguet, and Lange & Sohne, and is located at the top of the so-called ‘luxury watch class pyramid’.
Schwarzenegger’s Audemars Piguet was worth about 30 million won (20,000 euros), and Schwarzenegger had to pay about 50 million won (35,000 euros), including a fine. Schwarzenegger planned to auction off the watch at a climate fundraising dinner, but Munich customs saw it as ‘for sale’. Schwarzenegger’s Audemars Piguet was eventually sold at auction for close to 400 million won (270,000 euros). The price may be a premium due to the value of Audemars Piguet, a luxury product with a high ‘resale value’, Schwarzenegger’s collection story, and the good purpose of raising climate funds, but it is undoubtedly an enormous amount.
Arnold Schwarzenegger detained at Munich Airport, Germany. He is holding up the Audemars Piguet watch box in question.
In Korea, in principle, products worth more than $800 must be reported to the Korea Customs Service as taxable goods. This includes watches, necklaces, bags, etc.
An official from the Korea Customs Service explained, “If Schwarzenegger entered Incheon Airport without reporting an Audemars Piguet watch with an Audemars Piguet watch for the purpose of selling, it would of course be a problem. However, if Schwarzenegger leaves the country wearing an Audemars Piguet watch again, there would be no problem.”
Luxury goods must be declared not only when bringing them into the country from abroad, but also when taking them out of the country. Otherwise, you have to prove that “it was not purchased overseas.”
According to a customs official, products worth more than $800 must be presented and declared at the airport customs office when leaving the country. You do not have to report it once, but in principle, you have to do it every time you leave the country.
Of course, if you have a record of purchasing it domestically, you can explain it even if it becomes a problem at customs when you return home.
Kim Ki-jeong, consumer reporter
