Between 2011 and 2021, Rolexes outperformed gold, real estate, and stocks. Used watches are now a $20 billion industry, and demand is growing. But dealers need to be careful of counterfeit watches. US Customs seizes roughly 150,000 fake watches per year, and most of them come from China. We followed dealer John Buckley through New York City’s famous diamond district to learn how he spots fakes and makes money in this competitive industry. We also visited JFK International Airport to see how US Customs agents seize counterfeit watches.
0:00 Intro
1:43 How to negotiate on pricey Rolexes
4:31 John's Rolex parts collection
5:36 The most expensive Rolex ever sold
6:05 Why demand for Rolex watches is so high
8:19 How US Customs seizes fake watches
9:39 How John spots fake watches
11:09 The explosion of watch videos on TikTok