Websites such as eBay offer empty Tiffany blue boxes for sale on their sites that are often counterfeit knockoffs. The famous blue boxes of Tiffany & Co. are in high demand in the auction market. According to press reports, the boxes can cost between $10 to $30 on auction websites. Quartz interviewed one seller of… Continue reading Cost of Empty Tiffany Blue Boxes For Sale
The Federation of the Swiss Watch Industry reported that over 120,000 counterfeit Swiss watches were seized during anti-counterfeiting campaigns in 2013. In a single raid on a warehouse in Dubai, authorities seized about 90,000 fake Swiss watches. In addition to the counterfeit watches, nearly 700,000 components used to make counterfeit Swiss watches were also seized… Continue reading Counterfeit Swiss Watches Seized in 2013
Romania’s Custom Service stated in a report that about 50 percent of all “brand name” products that are available for sale in retail shops in Romania are actually counterfeit. Counterfeit goods from China enter the Romania market through smuggling routes that pass through Moldova and Ukraine. Some of the items seized by security services in… Continue reading Half of Branded Products in Romania Stores are Counterfeit
The regional manager for Virgin Megastore in Dubai stated that their industry believes that it losses between 20 to 30 percent of revenue due to counterfeiting and pirating activities in the Gulf Region. Other companies in the region state that the loss to revenue could be as high as 60 percent due to counterfeiting. In a single… Continue reading Revenue Loss to Gulf Companies From Counterfeits
Between 2003 and 2011, authorities in the United Arab Emirates have seized over 200,000 counterfeit Casio watches within the country.
A report found that almost half of foreign travelers from the United Kingdom purchased counterfeit goods while traveling abroad. The most popular countries where counterfeit purchases took place were Greece, Turkey, Spain, Thailand and China.
A civil court case in New York demonstrated the supply chain and profits involved in the counterfeit watch industry.
A group imported fake watch parts from China for the price of 27 cents per watch. After assembling the counterfeit, the group then sold the watches to wholesalers at the price of $12 to $20 per watch. The wholesalers then sold the fake watches to street vendors for $20 to $35 per watch. The vendors then sold the watches to customers for various prices based on street bargaining, with some watches being sold for as much as $250.
Counterfeit watches made up 4 percent of all counterfeit goods seizures made by the United States Customs and Border Patrol in Fiscal Year 2010. The domestic value (actual cost of the fake goods and NOT the retail price of the legitimate product) of the fake watches seized by authorities was $7,847,865.
According to KPMG’s Counterfeit Christmas Index Basket, a basket filled with counterfeit goods purchased in 11 major cities around the world was only 24 percent cheaper then a basket filled with the legitimate product.
The net profit of the estimated 40 million counterfeit watches sold each year is valued at roughly $1 billion. The trade is equal to 6 percent of the Swiss Watch Industry’s exports.