Statue Weta Workshop Smaug the Terrible Statue

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cstojano said:
So this exchange rate issue, I too see at checkout a conversion from NZD to USD but all the prices I see on the order page are USD. I don't see why the buyer assumes the currency risk here. For example, I currently owe Weta 5000 USD when a custom order bronze is ready to ship. I placed this order in September and delivery is expected in March. The NZD has tanked since September. I doubt they will adjust the USD amount owed down because off this (I wish). To the contrary if they send me a bill for more than 5000 in March I will protest loudly. All discussions have been in USD thus far.
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Because the orders are placed in US dollars, the exchange rate is irrelevant to the US buyer. I know Weta is making $50-100NZD more on my Smaug order than when I placed it. It seems they would assume the risk if the US dollar fell. I buy stuff from Japan all the time. I place orders in Japanese yen, not US dollars. I assume the risk. The company always gets the same amount of yen. Recently I've been winning because the dollar goes up before my order ships. At some point I will start losing. With Weta, you're going to pay the listed dollar amount. Maybe that is best. Sure it feels good if you get a windfall, but it sucks when it goes the other way. At least if you are OK with the price in the beginning, it's not going to change.
 
rjszar said:
Because the orders are placed in US dollars, the exchange rate is irrelevant to the US buyer. I know Weta is making $50-100NZD more on my Smaug order than when I placed it. It seems they would assume the risk if the US dollar fell. I buy stuff from Japan all the time. I place orders in Japanese yen, not US dollars. I assume the risk. The company always gets the same amount of yen. Recently I've been winning because the dollar goes up before my order ships. At some point I will start losing. With Weta, you're going to pay the listed dollar amount. Maybe that is best. Sure it feels good if you get a windfall, but it sucks when it goes the other way. At least if you are OK with the price in the beginning, it's not going to change.
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Yup, just checked my invoice and it has a legend that says "PLEASE NOTE: The NZ$ ORDER TOTAL is what we will charge your credit card when payment is processed. It has been calculated using the current exchange rate."

BTW for my order (international shipping) the total came to $873.61 USD and the amount charged was $1,195.74 NZD
 
67L88Stingray said:
You agreed with that other post, yet posted conflicting information. I am confused.
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I don't think he posted any conflicting information. His location is Mexico City. He paid for statue and shipping to his location in US dollars. Weta is in New Zealand They want paid in NZD. I think the only reason they even bother telling the purchaser is that they may become confused when they see the charge on their credit card. You still only get charged the original dollar amount you pre-ordered at, but since the exchange rate has moved, the NZD is different. My NZD at pre-order was 950.21 but at shipping is 1013.15. I'm still only getting charged the original $740.21 regardless of how much Weta is getting in NZD.
 
I am confused as well. Using actual data from xe.com an order placed August 18 for an item showing 100 USD on their website would equal 84 NZD. You place the order and create an order for 84 NZD.

The order ships February 13th when the NZD has fallen. Weta comes and says your order is here you owe us the 84 NZD, which is now worth only 62 USD. So do they collect 84 NZD (62 USD) or collect the price shown initially of 100 USD (134 NZD).

1) That is a huge difference
2) I can't see them doing this.
3) They are clearly doing the opposite to some customers whose currency has declined.

So is Weta charging the balance in NZD when it suits them and in the local currency when it does not?

Also keep in mind many of us justified the higher prices charged now in part because of the strength of the NZD.
 
You buy the piece in US dollars. It doesn't matter what the exchange rate is except for credit card transaction purposes. Smaug was $699 for those in the US (and elsewhere) who purchased early. You pay $699 USD. The credit card company has to pay Weta in NZD at the current exchange rate. I don't know what is going on with other currencies. If you have to purchase the item in NZD, then yes, you are subject to market forces. As I mentioned with Japan and the yen, when I purchase in yen, I win if the dollar goes up and lose if the dollar retreats. Those hwo buy in their own currency are unaffected by currency exchange rates. Weta made out on me but it didn't affect me one bit. They could have lost too and it still wouldn't have affected me. How many currencies does Weta allow you to buy in....NZD, USD, Euro?
 
cstojano said:
Are prices shown in AUD or CAD to customers in Australia and Canada? I assume they must say somewhere in their terms that are prices are really in NZD.
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No, we never get to order in AUD, we have to pick a currency, either USD, NZD or EUR. So if your in the US and order say Smaug for $699 USD, then when it ships and you get charged, you will pay $699 USD, end of story.

However, Weta, if they convert that to NZD to put in there local bank account, then the amount of NZD they get, will totally depend on the exchange rate at the time of billing. So given say 6 months between pre-order and shipping, then the amount in NZD that Weta would get from that same $699 USD could be very different, even tho it's all the same to you.

However, since they don't state an AUD amount up front, then over 6 months, I'm totally at the risk of exchange rates. Weta basically still get the same amount, so if I ordered Smaug for $699USD, then Weta will get $699USD. But from my point of view, over those six months, it may have gone from $750 AUD to costing me almost $900 AUD.

Having said that, Weta are no different then Sideshow, QMx or any of the others that don't list a set AUD price and it can take 6 months or more from pre-order to actually paying. For a bit of time it didn't matter, when our exchange rate was almost $1.10 to USD. Now, as we close in on $0.75 USD, it's all starting to hurt again.
 
theguru1 said:
No, we never get to order in AUD, we have to pick a currency, either USD, NZD or EUR. So if your in the US and order say Smaug for $699 USD, then when it ships and you get charged, you will pay $699 USD, end of story.

However, Weta, if they convert that to NZD to put in there local bank account, then the amount of NZD they get, will totally depend on the exchange rate at the time of billing. So given say 6 months between pre-order and shipping, then the amount in NZD that Weta would get from that same $699 USD could be very different, even tho it's all the same to you.

However, since they don't state an AUD amount up front, then over 6 months, I'm totally at the risk of exchange rates. Weta basically still get the same amount, so if I ordered Smaug for $699USD, then Weta will get $699USD. But from my point of view, over those six months, it may have gone from $750 AUD to costing me almost $900 AUD.

Having said that, Weta are no different then Sideshow, QMx or any of the others that don't list a set AUD price and it can take 6 months or more from pre-order to actually paying. For a bit of time it didn't matter, when our exchange rate was almost $1.10 to USD. Now, as we close in on $0.75 USD, it's all starting to hurt again.
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It really can hurt when you can't purchase in your own currency if the exchange rate goes south on you. When I first started buying from Japan, the exchange rate was 1USD=132 yen. It dropped all the way to 78 yen. Recently though, the yen went from the 80s to about 120, so I'm all smiles. A website that I purchase from has an English page that currently says "The yen is weak", encouraging you to spend. Of course, if the English page had an established agreed upon USD price at pre-order (like Weta) then, "The yen is weak" would mean nothing to me.

I'm a little conflicted about the option to pre-order in a foreign currency like the NZD. Obviously if you are in a country where your currency is strong against it, like the US, it's an advantage. It is a personal preference and a gamble. I don't really like the uncertainty involved though. I lost $30 on an order in one week because the yen jumped by 8 against the dollar. But, I don't expect foreign companies to offer items in all the currencies of the world, so you do what you have to do. I'm glad I have the option to lock in statues from Weta in USD, even if they did win this time.
 
So this is going to be my first WETA statue :), do they send a tracking number? Received an email on sunday that said "your order has been processed and released to our US Warehouse for dispatch", but no tracking number yet.
 

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