Headlines

Jewelry and Watches Rank Among ‘Most Counterfeited Items’

Published

6 years ago

July 22, 2018

INSTORE Staff

4,000+ shipments were seized last year.

The jewelry/watches category ranks No. 2 on a new list of “America’s Most Counterfeited Items” by financial website 24/7 Wall St.

U.S. Customs and Border Protection reported 4,297 seizures of counterfeit jewelry and watches in fiscal 2017, according to the website. The total value of the goods if they were genuine would be $460 million.

24/7 Wall St. notes that “unlike many commonly counterfeited items, watches, rings, and other jewelry are relatively small yet quite expensive.” That makes it possible to maximize the value of each shipment.

Jewelry and watches made up just under 13 percent of total seizures, and their market value was the highest of any category.

Ranking No. 1 was the “wearing apparel/accessories” category, with 5,223 shipments seized in fiscal 2017.

Across all categories, 31,560 shipments of counterfeit items were seized in 2017. Their total face value was more than $1.2 billion.

Read more at 24/7 Wall St.

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”