2015Legal / Business Practices forum
Importing a used rig from Europe or UK to the United States
What the thread found
- Purchasing a plane ticket to inspect equipment in person before buying may be cost-effective if the equipment is expensive enough to justify travel costs.
- Obtain comprehensive photographs and detailed answers to all technical questions before committing to an overseas purchase.
- Verify that equipment systems and standards are compatible with those used in the United States.
- Request a trial period of several days after the equipment arrives to evaluate its condition and performance.
- Purchase insurance for the equipment before it ships internationally, as carrier insurance is limited and costly.
- Put all purchase terms and conditions in writing with the seller rather than relying on assumptions.
- Shipments valued over approximately $2500 trigger IRS reporting requirements and require government documentation.
- Professional import and export companies can handle the complex paperwork required for high-value international shipments.
- Multiple shipping stops increase costs and risk; consider whether manufacturer inspection and intermediary services add enough value to justify the expense and complexity.
- Verify compatibility between the seller's willingness to negotiate terms and your assessment of deal value before pursuing the purchase.
Depends on
- Import tax and duty costs not fully detailed
- Specific current costs for professional import services unknown
- Exact threshold value for IRS reporting requirements may have changed since 2015
- Manufacturer inspection as intermediary is optional and depends on seller and buyer willingness to pay additional costs