Watches
Watches are a fortune in Dubai especially the high end brands like Rolex, IWC etc, I found that you can get a much better deal by shopping around in the US.
Closer to here you could try Bahrain , I found when doing my research on a recent purchase that Rolex were around 20% cheaper there then in the Dubai mall.
You could also try the UK and claim the VAT back under the VAT Retail Export Scheme or Europe where I believe you can get the VAT back at the airport.