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The difference is they now have to have VAT applied to the full sale price. Before, the EU margin scheme meant VAT was charged but only on the margin, ie sale price minus the purchase price. Watches sold within the EU are still in the margin scheme so they are paying VAT, just a lot less than if they buy from the UK.
Regal
@Dammit
They'd all have VAT applied I believe, so UK watches all increased in price by 20%.