BRUDANCE MAKHUBELE
Bio
Brudance is a writer and an educational researcher originally from South Africa. She has a bachelor’s in Education from the University of Limpopo and honors in Education from the University of South Africa.
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HOW USED LUXURY WATCHES BECAME A $20 BILLION INDUSTRY
Fake Rolexes can be tricky to identify. Veteran watch dealer John Buckley buys sells, and repairs used Rolexes, which sometimes sell for hundreds of thousands of dollars. The market for used watches is estimated to be worth 20 billion dollars and is growing fast. Watches have become increasingly popular because they are an excellent way to store money. Rolex outperformed the stock market, real estate, and gold between 2011-2021. However, like any good investment, there are risks involved. For one, there are counterfeits- U.S Customs has shown us how 150,000 fake watches are seized yearly. Moreover, even experienced sellers like John must be careful- sometimes it takes work to spot a fake, even if dealers like John know what to look for. The reputation of a seller can be ruined if they get stuck with a counterfeit watch.
By BRUDANCE MAKHUBELE3 years ago in Trader
