Headlines

Jewelry and Watches Rank Among ‘Most Counterfeited Items’

Published

5 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.

Wilkerson Testimonials

Wilkerson: “They Feel Like Family”

Newton’s Jewelers in Fort Smith, Ark., was a true institution. But after being at the helm for most of his life, owner (and descendent of the original founder) Kelly Newton decided it was time to retire. He chose Wilkerson to handle the sale. “I’ve known the owners of Wilkerson for a long, long time. I felt at home with them,” he says. The final retirement sale was just a “blast” and the Wilkerson sales team made it so very simple and straightforward, says Newton. Would he recommend Wilkerson to others? Absolutely. “They’ve done incredible work,” says Newton. “They feel like family.”