So I got the new iPhone 16 Pro Max 256 GB from Thailand (Pre-ordered delivered on 20th) and here's the final breakup and some notes from the latest trip!
iPhone 16 Pro Max (256 GB)
INDIA PRICE = ₹1,44,900
THAILAND PRICE = ฿48,900 THB
- Preorder (Cash) [2000 THB @ 2.5804 INR]: ₹5,160.80
- Delivery (Infinia CC) [46900 THB @ 2.54 INR]: ₹1,18,953.02
- Forex Markup CC [2%+GST = 2.36%]: ₹2,807.29
- Total without VAT Refund: ₹1,26,921.11
- VAT Refund (Cash) [2600 THB @ 2.54 INR]: -₹6,604 INR
- (A) Net Cost After VAT Refund but without RP Consideration: ₹1,20,317.11
- Net Saving without RP but with VAT Settled: ₹24,582.89
- Total Reward Points on Infinia [3.3% + 1% GVP = 4.3%]: 5,114.98
- Net RP Gain After Forex Markup Charges [4.3% - 2.36% = 1.94%]: 2,307.69
- Net Cost with RP Settled at 1:1 without VAT Refund: ₹1,16,645.33
- (B) Net Cost with RP Settled at 1:1 with VAT Refund: ₹1,10,041.33
- Net Saving with VAT+RP: ₹ 34,858.67
Notes:
1. Cash payment is also accepted at the stores, so if you don't want to go through the RP hassle or don't have a net gaining RR on your CC, you can opt for cash only. Your cost would be as per defined in (A).
2. This does not account for the flight ticket / accommodation / local expenses / transport, etc. this is good for those already have plans to visit Thailand now or in future, or if you have someone who can bring it over.
3. Buying from third-party places these days is coming at inflated rates up to 54k THB (1.42L) without VAT Refund, pre-activated, and opened boxes (Risky), official prices are cheaper but will have to wait until next month or so.
4. Nothing fixed in third-party markets, they're looting..unfortunately our fellow Indians and others everyone falling for the FOMO and paying inflated rates in such markets (Saw live while I was there to dump my old phone, saved one fellow dude).
5. You need to ask for the VAT Refund form at the time of purchase at the store (Apple or any VAT refund supported stores), you miss this, you lose!!!! You can't go back next day and ask for such a form, it has to be taken on the same day!
6. You need to get the VAT Refund form stamped at the airport from the customs inspection who check your box and phone. They're located at the far end of the entry gates. You don't get the stamp, you'll not get the refund. You lose!!!
7. Don't throw the box until all the checks and VAT refund in cash is handed over to you.
8. Cash is given in Thai Baht.
9. You may throw that box later if you don't wanna carry with you but if you keep it, some stores locally or even in Thailand give value for having original box. But having the box is a red flag for the local customs obviously 😉
10. Warranty on the iPhone will be international, so you need not worry!
11. Take a picture of the VAT Refund form and the invoice (original invoice is attached to the form and handed over to the VAT Refund department, so a pic is the only record you'd have).
12. Apple official stores are not trading-in right now but iStudio does trade-in, however, the Indian models get 50% value of whatever they value the phone to the Thai model even if its in mint condition (ex: if iPhone 12 Pro they're offering 10500 THB [Grade A], you'll likely get no more than 5.3-5.7k THB). So unless you're stupid, don't trade-in with them.