Counterfeiting is, sadly, an issue for many industries, and the luxury watch is no exception. The Swiss watch industry estimates that 30 to 40 million counterfeit watches are put into circulation each year; matching or outweighing the approximately 30 million authentic watches which are produced. Looking at these figures, you may wonder how you can be sure that the watch you purchase is the real thing; it seems like there’s a 50/50 chance you would be spending your money on a fake.
Thankfully, it’s not that difficult at all; there are simple steps that you can take to ensure the authenticity of your watch, and at Banks Lyon we are more than happy to guide and help you.
Look For The Real Thing
An estimated 15-30% of all internet searches for watches are from people who are actually looking for replicas; a high-end luxury watch is, after all, an investment and it can be very tempting to get the look of one without the price tag. However, you’ll often find that your money is simply wasted this way; counterfeit watches can still carry a significant price, but don’t have the same craftsmanship. They may stop working and they certainly won’t have the same resale value as an authentic piece.
There is a somewhat grey area in the form of “homage” watches; these are designed to look and function as closely as possible to a historic timepiece which may be difficult to acquire now, but do not include the original names or logos. Whilst such pieces are legal, and are often reasonably good quality, they are frowned upon by some collectors.
Choose an Authorised Dealer
There’s a certain stereotype of the fake watch dealer; a suspicious man in the street who whispers, “Do you wanna buy a watch?” and reveals an array pinned to the inside of his coat. This is not usually the way people are fooled into purchasing a counterfeit; it’s obvious that his goods are not legal.
With the rise of the internet, online shoppers must exercise a certain level of caution; unscrupulous dealers could easily trick the unwary buyer by appearing to be legitimate. To ensure that you are buying from an authorised dealer, it’s often a good idea to check with the brand’s own site – they will generally have a listing of those businesses who legitimately sell their stock. For example, if you peruse the Bremont authorised dealers page, you will see Banks Lyon Jewellers listed, and know that you can buy from us with confidence.
Ask for Documentation
When you purchase a new watch from us, you will receive an Official International Manufacturer’s Warranty which lasts at least two years. When you’re purchasing a vintage watch, you should be able to learn the watch’s history or provenance; ideally, it should be accompanied by certificates which match its serial number, but paperwork does sometimes legitimately get separated from the watch and their absence does not necessarily mean anything nefarious. At Banks Lyon, we always include a warranty with our second-hand watches.
If you have a second hand watch and you’re not sure whether it is real or not, an expert may be able to assess it for you. In some cases, you may need to go to the brand to acquire proof of authenticity, but our experts will be able to offer advice.
At Banks Lyon, we are authorised dealers for a range of luxury brands, so whether you’re looking for authentically British Bremont watches or iconic Swiss brands such as Omega watches, we can offer an extensive collection with the reassurance of authenticity. For more information, contact us on 01524 384858 or visit us in our refurbished Lancaster store when we re-open next week.
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