How are taxes applied for watches being purchase through the trade process?

Topic: Sell or Trade - Trade

Because most people associate a trade with the car industry, it is important to note that Crown & Caliber codes these as two separate transactions. The first transaction is the sale of an individual’s watch to Crown & Caliber to receive payment in the form of an incentivized Store Credit. The second transaction is an individual purchasing a watch from our website using any legal form of tender (including the use of a 16-digit Crown & Caliber Store Credit/Gift Card). As our store credit is treated as legal tender and not a discount or reduction on the price of the item being purchased, any taxes applied at checkout would be calculated on the full amount of the item being sold (after any applicable discounts or promotions are applied).

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