Latest news with #QuaidWalker
Yahoo
30-06-2025
- Business
- Yahoo
Superfake Rolexes Are Getting Smarter: How to Spot Counterfeit Timepieces in the Luxury Watch Market
Counterfeit Rolex watches have become so sophisticated in 2025 that some fakes are nearly indistinguishable from the real thing at first glance. While a 'superfake' Rolex may seem like a bargain for some buyers, these watches are typically made with inferior materials and craftsmanship, resulting in mechanical issues and rapid wear, which ultimately results in financial loss for the buyer. 'The biggest risk for buyers is finding themselves with a watch that is not worth the value that they paid for it. For sellers, the risk is that a counterfeit economy leads to distrust and disinterest in the market and, in turn, causes values for real Rolex watches to decline,' Quaid Walker, cofounder and chief executive officer of pre-owned luxury watch marketplace Bezel, told WWD. More from WWD Big Spenders Are Losing Their Appetite for Luxury Timepieces Wow on Day One of National Football League Draft Red Carpet Simone Biles' Plunging Corset Dress, Carlos Alcaraz's $249,000 Rolex and More Style Moments From the 2025 Laureus World Sport Awards In 2024, Bezel rejected 29 percent of the watches submitted for resale, representing a 6 percent increase from the previous year. 'It's a reflection of how sophisticated counterfeiters have become, but also a sign of how seriously we take authenticity,' he said. 'The overall quality of a Rolex is seemingly very hard, if not impossible, to replicate. If that sounds difficult or somewhat esoteric to figure out, that's because it is.' In the U.S., the rapid growth of e-commerce over the past decade has enabled consumers to easily purchase millions of products through online vendors, while also providing easy access to counterfeit and pirated goods. According to U.S. Customs and Border Protection, U.S. consumers invest more than $100 billion annually in goods that infringe on intellectual property rights, becoming victims of nearly 20 percent of the counterfeit products that are sold illegally worldwide. In fiscal year 2024, the agency seized an average manufacturer's suggested retail price of $1.4 billion in fake watches. Counterfeit sales also harm the luxury watch market by undermining brand value and supporting unethical manufacturing conditions. 'The distribution of counterfeit goods defrauds U.S. consumers and has a significant adverse impact on businesses by robbing our country of jobs and tax revenues,' said LaFonda D. Sutton-Burke, director of field operations, Chicago Field Office, via statement in May. But how does one avoid buying a fake Rolex watch these days? The U.S. Customs and Border Protection recommends purchasing goods directly from the trademark holder or from authorized retailers, as well as paying attention to the product's price. 'If a price seems too good to be true, then it is,' the agency says. Walker, who has been working in the pre-owned luxury watch market since 2021, recommends that shoppers pay attention to details, such as engravings, part shapes and finishing. 'When it comes to a Rolex, the first thing taken into account is the model or reference number. There are a lot of authenticity checkpoints related to the reference number and the components that should correspond to that reference number, including: the dial, bezel, hands, case back, bracelet and caliber,' he said. Original Rolex watches also feature a serial number related to their production date. 'For Rolex specifically, this is very important as there are marked changes in the use of materials, in the font type on dials, and other small details over the course of the last 70-plus years. Confirming that the construction of the watch is correct and that all parts are period correct is the first hurdle with looking at a Rolex,' Walker said. Another way to identify a fake Rolex is by examining its dial. 'We check that the dial is original and not reprinted or redone, that the bracelet hasn't been retightened or resolved, that the case hasn't been recut, the movement hasn't been overly restored, etc.,' he said. To detect superclones, Bezel employs a range of tools, examination techniques, high-resolution images, and testing methods to assess a Rolex. 'For example, a black light or a Geiger counter is used when it comes to examining the luminous material on a watch. We use our database of hundreds of thousands of images to compare against any case or bracelet engravings that may raise a red flag,' Walker said. View Gallery Launch Gallery: Top Styles from Watches and Wonders Geneva 2025 Best of WWD Stores Closing in the U.S. in 2025: Joann, Kohl's, JCPenney and More Companies Facing Financial Challenges The History Behind the World's Most Expensive Hats: From Princess Beatrice's Royal Wedding Headpiece to the $2.7 Million Chapeau D'Amour and More Every Winner in Miss World History: Opal Suchata Chuangsri, Priyanka Chopra and More
Bloomberg
20-06-2025
- Business
- Bloomberg
Bezel Disrupting the Luxury Re-Sale Watch Market
Since being founded in 2022, Bezel has become a heavy hitter in the luxury watch re-sale market. Quaid Walker, Bezel's Co-Founder & CEO, joined Bloomberg Open Interest on Friday with Matt Miller and Katie Greifeld. (Source: Bloomberg)
