Trade Market For Fake Watches
According to industry estimates from the OECD and UNODC, production of and international trade in counterfeit goods generate revenues of some $250 billion a year. The trade in digital piracy and counterfeit items within the producing countries is worth additional hundreds of billions of dollars.
The goods being counterfeited are not just luxury and brand-name items, but just about every kind of product: electronics and electrical goods, car parts, medicines, foodstuffs, products for home and cosmetic use.
Swiss export industries are particularly hurt by this trade. According to the Federation of the Swiss Watch Industry, 29 million genuine Swiss watches were produced in 2013 – and 33 million fakes. The figure is expected to rise as the tally for 2014 and 2015 are completed.
Figures from the World Customs Organization (WCO) suggest that most counterfeits come from China, India, Singapore, the Emirates, Pakistan and Turkey.
The replica timepieces include fakes of watches made by Rolex, Omega, TAG Heuer, Breitling, Patek Philippe, Hublot, Richard Mille, Audemars Piguet, Vacheron Constantin, and many others. Replica watches are illegal. If you know of individuals or companies who are in possession of; manufacturing; buying; and/or selling timepieces with counterfeit trademarks, be sure to report them to us here.