Business, Finance & Economics

Fakes all around

(So do fakes of a Ferrari go for what the real thing does?) No the underground Ferrari were going for $30-50,000 US. Real Ferraris go into the six figures. (So that's pretty audacious. What else is counterfeit that we might not have thought of?) Everything, computer network components, food products, pharmaceutical products, things as low cost as batteries. So counterfeiters have hit all the price ranges. Airplane parts as well. You don't see much reporting of jet parts. It can be counterfeit nuts and bolts even, but also certain components of air engines. (So this goes beyond the issue of ownership and authenticity, it goes to safety as well?) absolutely, health and safety aspects come up with the counterfeit toothpaste and cold medicines. Most of these products are made in Asia but shipped everywhere in the world. (Have you ever had an opportunity to check out a product coming in and marvel at how good the imitation was?) There are a number of such products. The technology used by these genuine products are also available to the counterfeiter. (So digital technology has enhanced the counterfeit field?) Absolutely. Counterfeiters make so much money that they can afford such technologies. (Give me an example). Certainly packaging mimics real packaging quite authentically, so you won't be able to tell until you take apart the actual product. An example is cigarettes for example. Counterfeiting cigarettes, you can copy the packaging, and you just put something else inside but make it look like the real thing. (Are there particular products that are the most profitable in the fakes industry?) So many of them are. For example in pharmaceuticals, if you find a product with no active ingredient. (How do I know if I'm buying a fake?) Touch and feel are a good indicator. Sometimes the price is just too good. (If the Rolex watch that isn't really a Rolex but looks just like it, what's wrong with buying it?) When you buy knock offs it has an impact on the people in the actual industry, diverting funds from legitimate companies and skilled laborers. Think about where the money actually goes.

close

Latest in Business, Finance & Economics

Comments