Half of all fake watches are Rolex knock-offs – and the replicas are harder to spot than ever: around 10 per cent of pre owned timepiece are now bogus, from Patek Philippe and Audemars Piguet

Jul 13 , 2023

Could you spot a counterfeit Rolex? Even the experts are finding it harder these days, according to Watchfinder. Photo: SCMP Archive

Experts at pre-owned dealer Watchfinder used to be able to identify about 80 per cent of bogus timepieces by sight alone, but now that’s just 20 per cent according to CEO Arjen van de Vall

As the world’s most in-demand watch, Rolex unsurprisingly makes up half of all the fakes Watchfinder sees – but last year a ‘Frankenstein’ Omega Speedmaster sold for US$3 million

The number of fake watches uncovered by pre-owned dealer Watchfinder & Co is rising – with Rolex replicas accounting for about half of the knock-offs in circulation.

As many as 10 per cent of the watches received from sellers last year were determined to be fakes during an authentication process, according to Watchfinder CEO Arjen van de Vall.

A Thai customs officer shows counterfeit Rolex watches confiscated in different raids in Bangkok. Photo: AFP

“Rolex is the most aspirational luxury watch brand and has the highest demand – hence, it’s the most replicated,” said van de Vall.

Watchfinder CEO Arjen van de Vall recently commented on the sheer number of fake Rolex watches on the market. Photo: LinkedIn

Fakes are also becoming more sophisticated and harder to spot. Watchfinder used to be able to identify about 80 per cent of bogus timepieces by sight alone but now that’s just 20 per cent. Employees at the company, owned by Swiss luxury conglomerate Richemont, now need to perform more detailed inspections including opening watch casebacks and checking movements to identify the high-end knock-offs.

While fakes like this cheap knock off at Beijing’s Silk Market are easier to spot, many are almost identical to the real thing, according to van de Val. Photo: AP

Fake or replica luxury watches are a growing problem in the US$27.3 billion per year secondary watch market, with some counterfeit versions fooling even the most knowledgeable experts.

The ‘Frankenstein’ Omega Speedmaster was assembled from vintage watches by former employees at Omega. Photo: Phillips

Omega, part of Swatch Group AG, said last month that three former employees were part of a criminal plot to sell a ‘Frankenstein’ Omega Speedmaster, that was an amalgam of mostly authentic parts from other vintage watches. The watch sold at auction in 2021 for more than US$3 million, the highest price ever paid for an Omega timepiece. The company itself was the buyer and has said it was the victim of a criminal conspiracy.