Today, purchasing luxury products comes with inherent risk. According to the Organization for Economic Co-operation and Development (OECD), counterfeit goods are worth nearly half a trillion dollars a year, or around 2.5% of global imports. Because of their high value, counterfeit luxury goods such as timepieces and artwork fuel the most luxuriant black markets. In the luxury watch market, it is estimated that 40 million counterfeit watches are sold each year (equal to 6% of the Swiss Watch industry’s annual exports). The Fine Arts Expert Institute (FAEI), an organization that uses state of the art methods to authenticate artwork, estimates that 50% of fine art circulating the market is fake.
Luxury products are investments, often retaining value longer than gold. Protecting that investment today requires transparency and technology and Trusted.com is here to provide both.
Introducing Authentic, the official blog of Trusted.com. Our purpose is to equip consumers with the knowledge to safely navigate the luxury goods marketplace. Here, you can expect informational and thought-provoking posts from the Trusted Team and other industry experts concerning the latest in product authentication technology, industry news and current events, the latest fraud alerts, as well as updates on Trusted.com’s progress in protecting consumers and combating the counterfeit industry.
For other industry news and links, follow us on social media!