FAQs
Prices and payment
Do displayed prices include taxes and delivery charges?
No. The prices displayed exclude applicable taxes (such as VAT, Sales and/or Use taxes), import duties and taxes and delivery charges. Applicable taxes, import duties and charges will depend on the tax status of the watch you are purchasing and your delivery address. If you would like details before completing the check-out process please contact our Perpetual teams.
What payment methods do you accept?
We accept payment by credit and debit card for up to GBP 100,000 (one hundred thousand GBP sterling) or HKD 1,000,000 (one million HKD) per transaction and by wire transfer for any amount. Payment is due immediately and must be made by the invoiced party. Orders cannot be processed or confirmed until we have received your payment in full and cleared funds. We do not accept payment in cash or cryptocurrency for purchases from Phillips Perpetual.
Buying
What is KYC and Why is it required?
“Know Your Client” (KYC) checks are a legal requirement for art businesses trading in or acting as intermediaries in the sale and purchase of works of art.
Perpetual buyers must provide client identification information and documentation within 48 hours of making payment to satisfy the required KYC checks. We cannot complete your purchase and ship the items you have paid for until you have satisfied these compliance checks.
Following payment, you will receive an email with instructions and a link to complete the KYC process. Please note that the credit card and billing information used at checkout must match the KYC information provided.
We use a third-party provider (Shufti Pro) to carry out required KYC compliance checks. By proceeding with your purchase, you agree to provide your identification information and documentation to Shufti Pro and accept Shufti Pro’s Terms and Conditions and Privacy Policy for this purpose.
Failure to complete the KYC process within 48 hours of paying will result in cancellation of your order.
Further KYC details are available here.
What happens if I don’t complete KYC in the 48 hour window?
In the event KYC is not completed within the 48-hour window, your transaction will be canceled.
I completed KYC verification on a previous order. Do I need to complete it again?
Yes. Buyers are required to complete KYC verification on an individual purchase basis. If you buy multiple watches at the same time, you will only need to complete KYC once.
Delivery
Where can I get details of delivery charges and costs?
Please contact our Perpetual team for delivery quotes from one of our authorised shipping agents.
For purchases from our UK boutique, we can only issue invoices without UK VAT if (1) your delivery address is outside the UK and (2) you instruct and accept the delivery quote of one of Phillips’ authorised shipping agents. If you wish to use a shipping agent who is not one of our authorised shipping agents, or if you wish to collect the property in person from our London store, UK VAT will be added to your invoice and must be paid before we release the property, even if you intend to export the purchased item subsequently.
Can I change the delivery address after I have checked out?
No. Delivery addresses cannot be changed after you have completed the check-out process. This is for legal, tax and compliance reasons.
Is my purchase insured against loss, damage or theft during delivery? If so, is it insured for the price I paid?
Transit insurance will be added to your delivery quote automatically. Please read the separate terms and conditions of the relevant carrier for details, including the level of transit insurance cover provided. If you ask for the transit insurance to be removed from your delivery quotation, the purchased property will be entirely at your risk for any physical loss or damage which occurs from the time the property is released to the appointed third-party carrier.
Returns
What is your returns policy?
Please see the Phillips Perpetual Buy Now Terms and Conditions (paragraphs 11 and 12) for details.
General
I am a UK buyer. Why should I not use the automated checkout process?
Many of the watches available on the Phillips Perpetual London Boutique are under “temporary admission” in the UK. (Meaning that they have been imported to the UK from abroad for sale and have import VAT suspended). To ensure the required import formalities are followed, UK based buyers should deal directly with our specialists.