According to an article published in The Forbes magazine, almost 15-30% of the searches on internet related to watches involve people on the lookout for replicas. The officials of the Swiss watch industry say that because of the replica watch market, they lose out on billions of dollars each year. Customs officials make an effort to seize fake watches due to the growing concern of the watchmakers.
Rolex, a famous brand of Swiss wrist watches, has become a status symbol for people and because of this, nowadays, replica accessories of Rolex watches are often being sold in markets all over the world. Differentiating between an original one and a replica is very difficult because they look almost similar. The materials that are used to make these replicas are very durable. The functioning is also quite similar to the original ones. People buy replica watches because they cannot afford the real one.
Sentiments of the Watch Industry
A famous Swiss watch brand’s CEO had once said that if a large amount of replica watches with their brand name is being made, it shows the popularity of that brand. During a publicity campaign conducted few years back by a consortium of high-end Swiss watch brands known as the Fondation de la Haute Horlogerie, a message was put forward saying “Fake watches are for fake people”. This campaign resulted in many people planning to buy the real thing instead of fake.
Replicas: How Big A Problem Is It?
Customs officials are of the view that a major portion of the fake goods seized includes items from the luxury industry. Even after such strong efforts to confiscate fake goods, many of them make it through to the market. Luxury goods are extremely popular because they are given a lot of publicity. Due to this, people are much more aware about these goods and there is a high demand for them, which results in fake watches being produced.
The fake rolex watches are a cheap alternative for watches that are totally unaffordable for most people. These watches are for people who cannot afford the real watch and for those who wish to put forward a style statement and show off their status. There are certain streets in places such as New York and Hong Kong known as fake districts, where all kinds of fake items are available.
The Gray Market
Gray market is a term which is often misunderstood by people because they think that this market is one which sells fake watches. But this is not the case. The watches sold in gray markets are authentic and are sold outside of an authorised dealer. These watches can be used or sold from a dealer who is authorised to another dealer. A warranty will not be available for these watches, but that does not mean that they are fake.
Why Are Fake Watches Considered Illegal?
Buying fake watches is considered to be totally poor purchase decision because firstly, it is against the law and secondly, because these kind of fake watches are a total waste of money. It is surprising that watchmakers do not have a copyright on the design of their fake rolex.