Fake Rolex watches make up half of the luxury replica market, exec says
The replica watch market is getting more and more sophisticated, and roughly half the market is comprised of Rolex fakes, according to the chief executive of Watchfinder & Co.
In an interview with Bloomberg on Tuesday, CEO Arjen van de Vall said up to 10% of the watches received from sellers last year were found to be knockoffs, with facsimile Rolexes showing up the most often. The company has been buying and selling pre-owned watches since 2002. "Rolex is the most aspirational luxury watch brand and the highest demand, hence, it's the most replicated," van de Vall said.
Previously, Watchfinder, which is owned by Swiss luxury corporation Richemont, was able to identify roughly 80% of fakes by sight alone, van de Vall told Bloomberg. Now, however, that proportion has dropped to just 20% since replicas are getting more convincing. "You see replica or clone watches — very, very high quality watches — of virtually all of the big luxury brands," van de Vall told Bloomberg."The whole gamut.
For example, a second-hand Audemars Piguet Royal Oak Jumbo Ultra Thin has declined by more than 35% over the last year, and
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