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Rob Holmes is a private investigator. Holmes speaks with Business Insider about how counterfeits are made in factories overseas. He also examines a genuine Rolex and gives tips on how to spot a genuine watch. Holmes began investigating counterfeits during his childhood: His father, Rob Sr., was a renowned counterfeit investigator in New York in the 1980s. Holmes describes his dad's encounters with Chinatown gangs and tells Business Insider how he and his brother are carrying on their father's legacy through their investigations business, MI:33.

Persons: Rob Holmes, Holmes, counterfeits, Rob Sr Organizations: Business Locations: United States, New York, MI

Those are some of the most fascinating items found in lost luggage in 2023, according to a new report by Unclaimed Baggage, a store that buys lost items from airlines, sight unseen. The company has long-term contracts to buy unclaimed items from airlines, as well as hotels, trains and rental car companies. Unclaimed Baggage opened a "Found Treasures" museum in Scottsboro, Alabama, in 2023 to showcase the oddest items acquired through the years. Then he found them at Unclaimed Baggage and brought them back to her." Source: Unclaimed Baggage

Persons: Richard Nixon, Louis, Bryan Owens, Cartier, Owens, Owen's, Doyle Owens, Doyle, There's, … we're, Owen, Louis Vuitton, —, …, Jimmy Choo, Yves Saint Laurent —, it's, they've, David Bowie Organizations: Louis Vuitton Nike Air Force, CNBC Travel, Rolex Locations: Scottsboro , Alabama, Scottsboro, America, West Coast, Atlanta

☆ European police seize Lamborghinis and Rolexes over alleged $650M Covid-19 fraud
▼ + stars: | 2024-04-04 | by ( Christian Edwards | Sharon Braithwaite | ) edition.cnn.com time to read: +2 min

CNN —Police have arrested 22 people and seized assets worth more than €600 million ($650 million) in connection with alleged fraud linked to the European Union’s post-pandemic recovery fund. The alleged fraud is likely to renew concerns about the misuse of the EU’s €800-billion recovery fund to help revive the bloc’s economy. The European Public Prosecutor’s Office (EPPO) said a criminal organization is suspected of running a fraud scheme between 2021 and 2023 to swindle Italy’s recovery packages. The prosecutor’s office claimed the group used cryptocurrencies, artificial intelligence and offshore cloud servers to carry out and conceal the fraud. The United States has also attempted to crack down on alleged fraud involving Covid-19 relief resources.

Persons: Lamborghinis, Cartier Organizations: CNN — Police, Prosecutor’s, Police, Public, ”, United, Small Business Administration Locations: Italy, Austria, Romania, Slovakia, United States

☆ The Long, Strange Decline of Iconic Chicken Soup for the Soul Brand
▼ + stars: | 2024-03-31 | by ( Amanda Chicago Lewis | ) www.businessinsider.com time to read: +39 min

What followed was hundreds of sequels and spinoffs, everything from "Chicken Soup for the Cat Lover's Soul" to "Chicken Soup for the Canadian Soul" to the bestseller I read cover to cover, several times, in sixth grade: "Chicken Soup for the Teenage Soul." What began as Chicken Soup for the Soul board games and calendars turned into Chicken Soup for the Soul chocolates and Chicken Soup for the Soul pet food. What began as Chicken Soup for the Soul board games and calendars turned into pet food, barbecue sauce, and — yes — soup. He pointed out that the cover of the original Chicken Soup book "ripped off" Campbell's Soup, to trigger "nourishing and comforting and warming" feelings. He started suggesting outrageous directions Chicken Soup could go in next: "The Chicken Soup pistol!

Persons: I'd, I've, who'd, John Wayne, Jack Canfield, Canfield, Oprah Winfrey, Tony Soprano's, Russ Kamalski, Laurel, Hardy, Tyler Le, Americus Reed, hadn't, he'd, Johnny Nunez, Getty, Clement Stone, Stone, Napoleon Hill's, Norman Vincent Peale's, Mark Victor Hansen, Hansen, Bennett Raglin, let's, Mark Twain, They're, they'd, Kamalski, Preteen's, Christian Woman's, Mother's, —, Wayne Booth, Booth, Barbara Ehrenreich, David Gray, Amy Poehler, Kenan Thompson's, Patty Aubery, I'm, I, blurbing, Bill Rouhana, Amy Newmark, Newmark, Rouhana, Winstar, Ashton Kutcher, Isaac Brekken, Kevin, Reddit, Chicken, Redbox, You've, We're, Kevin fumed, hicken, orth, ince, eason, rance, ike, osses, ives, ake Organizations: John, Hyatt Regency, Soul Entertainment, Nasdaq, Americus, Wharton, Hyatt, Harvard, Triple, Beverly, Hotel, Canfield, University of Chicago, Oklahoma State, Washington Post, Wall, Company, Connecticut —, NASCAR, Hollywood, Consumer Federation of America, CSSE, Hindenburg Research, Sony Pictures Television, GameStop, YouTube, Soup, ust, anfield Locations: Newport Beach , California, Indonesian, Crackle, Canfield, Nigeria, Japan, France, Ohio, West Virginia, Mali, New York, Anaheim, Florida, ,, Teacher's, Baltimore, China, Australian, Darfur, Southern California, Greenwich , Connecticut, Connecticut, Zillow, Canadian, Wells Fargo's, Redbox, ife

☆ The Long, Strange Decline of One of America's Most Influential Brands
▼ + stars: | 2024-03-31 | by ( Amanda Chicago Lewis | ) www.businessinsider.com time to read: +39 min

What followed was hundreds of sequels and spinoffs, everything from "Chicken Soup for the Cat Lover's Soul" to "Chicken Soup for the Canadian Soul" to the bestseller I read cover to cover, several times, in sixth grade: "Chicken Soup for the Teenage Soul." By 2003, research found that more young readers seeking solace turned to the Chicken Soup series than to the Bible. What began as Chicken Soup for the Soul board games and calendars turned into Chicken Soup for the Soul chocolates and Chicken Soup for the Soul pet food. He pointed out that the cover of the original Chicken Soup book "ripped off" Campbell's Soup, to trigger "nourishing and comforting and warming" feelings. He started suggesting outrageous directions Chicken Soup could go in next: "The Chicken Soup pistol!

☆ Dina Boluarte: ‘Rolex case’ sees Peruvian police raid presidential palace over leader’s 14 luxury watches
▼ + stars: | 2024-03-30 | by ( Claudia Rebaza | ) edition.cnn.com time to read: +3 min

CNN —Armed police raided Peru’s government palace and the private home of President Dina Boluarte in search of Rolexes and other luxury watches as part of a preliminary corruption inquiry. The probe was prompted by Peruvian news outlet La Encerrona’s investigation into Boluarte’s watches. After reviewing thousands of photographs of the President, La Encerrona determined that Boluarte owned at least 14 luxury watches. Peruvian media have since dubbed the incident the “Rolex case.”Boularte had denied any wrongdoing before the raid, saying anything she owned was a result of her hard work. Peru has in recent years been rattled by political instability, with president after president brought down by allegations of corruption or political malfeasance.

Persons: Dina Boluarte, La Encerrona, ” Boularte, “, ”, Mateo Castaneda, Castaneda, Boularte, Boluarte, Sebastian Castaneda, Gustavo Adrianzen, RPP, Eduardo Arana, Pedro Castillo, Castillo, Martin Vizcarra, Pedro Pablo Kuczynski, Ollanta Humala, Humala Organizations: CNN — Armed, Police, Reuters, RPP, Kuczynski Locations: Peruvian, Peru, Vizcarra’s

☆ Buying a Rolex is easier than you think, an official retailer says
▼ + stars: | 2024-03-21 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. A store director, Caitlin Hausser, walked Business Insider through how to buy a Rolex from William Barthman Jeweler in New York City. It's not as difficult to buy as other luxury accessoriesCaitlin Hausser told Business Insider that Rolex Daytona models were in the highest demand. "Rolex wants new clients," Hausser told BI. Hausser told BI that clients wouldn't have to pay for their new Rolex until it was time to pick it up.

Persons: —, Caitlin Hausser, William Barthman, Jordan Hart, Hausser, It's, Hermès Kelly, Birkin Organizations: Service, Business, New York Stock Exchange, Daytona, Rolex, Rolex Rolex Locations: Swiss, New York City, New York

☆ A lower-cost way to play the S&P 500's run to 5,000
▼ + stars: | 2024-02-08 | by ( Michael Khouw | ) www.cnbc.com time to read: +8 min

The S & P 500 once again closed at a new all-time high, achingly close to 5,000 for those enamored of nice round numbers. .SPX 1Y mountain S & P 500, 1-year Is there an option trade we can use if we're not sure? If S & P earnings grow closer to their historical average, then $240ish (let's stick to round numbers) might be a more accurate estimate. $240 a shares multiplied by 20 = $4,800 in the S & P. So in that context 5,000 is a little rich, but not much. The VIX Index , a measure of 30 day volatility in the S & P 500, is below 13, cheaper than usual.

Persons: we're, Jeremy Grantham, Paul Krugmans, aren't Organizations: Investors, Nvidia Locations: China, U.S

☆ The Fall of the Timepiece Gentleman, the Luxury Watch Dealer Who Ran Afoul of the Feds
▼ + stars: | 2024-02-04 | by ( David Kushner | ) www.businessinsider.com time to read: +29 min

Farrer is better known as the Timepiece Gentleman, the flashiest online dealer in the $75 billion luxury watch trade. All he needed was the right name for his luxury watch business — something distinctive, something memorable. In his mind, he pictured what the ultimate luxury watch dealer would look like. To launch his career as the Timepiece Gentleman, Farrer boned up on the jargon of horology, from escape wheels and spring barrels to flinques and guilloches. Despite the staggering size of the luxury watch trade, nobody had thought to market its glamour and mystique.

Persons: Reddit, I've, Anthony Farrer, Farrer, Mark Wahlberg, Marky Mark, Patek Philippes, Sharf, Prada, he'd, Cameron, Travis Baker, chronograph, Richard Chance, He'd, timepieces, Farrer boned, they're, Kevin Hart, It's, Buyers, Darby McVay, McVay, Liz Guilliams, Guilliams, You've, Dallas —, Crimepiece, vouching, Santa Monica, —, Darth Vader, y'all, reselling, Anthony, stiffing, Wesley Stokes, Stokes, Bob Schober, Joe Haden, Richard Mille, Schober, He's, Peter, Paul, didn't Organizations: YouTube, FBI, Timepiece Gentlemen, Watch, Buffalo Wild Wings, Business, Boston Consulting Group, Texans, Craigslist, Lamborghini, Malibu, Downtown, Hollywood, Cleveland Browns, TPG, Ducati, Venice Locations: Venice , California, Venice, backwoods Texas, Reddit, cowpoke, Sherman , Texas, Dallas, It's, Salt, Riding, Los Angeles, In Dallas, LA, Santa, Texas, Downtown Los Angeles, South Carolina, Scottsdale , Arizona, Stokes

Facebook fired Kagan in 2006 after he leaked company information to the press at Coachella. "I didn't work too hard at Intel and I didn't spend a lot of money," Kagan says. Following his firing from Facebook, Kagan ran conferences for aspiring entrepreneurs (a hustle he had started while at Intel), taught English in South Korea and picked up consulting work for Silicon Valley tech firms. In addition to working on AppSumo, Kagan manages rental properties and creates content for his YouTube and social media channels. In addition to his AppSumo business and his book, Kagan operates a YouTube channel and manages five rental properties.

Persons: Noah Kagan, Kagan, Bill Gates, Kagan's, Facebook, Camila Ortega, He'd, Maria, didn't, hadn't, AppSumo, They'll, We've, everyone's, we've, Kagan didn't, wasn't, Rolexes, —, he's Organizations: CNBC, Microsoft, Facebook, University of California, Intel, Mint, Apple, PC, PayPal, Rolex, Entertainment, Insurance, Spotify, YouTube, AppSumo, Mazda Locations: Silicon Valley, Redmond , Washington, Barcelona, Austin , Texas, Berkeley, Israel, South Korea, Philippines, Argentina, Austin, Pakistan, AppSumo

☆ Anthony Farrer of LA’s The Timepiece Gentleman accused of scamming $3 million from customers
▼ + stars: | 2023-11-15 | by ( Faith Karimi | ) edition.cnn.com time to read: +7 min

According to federal court documents, Farrer’s life started unraveling months before his arrest. His watch business started in Dallas and moved to LAIn court documents, federal agents detailed Farrer’s downfall from luxury watch seller to alleged scammer. Investigators said Farrer pocketed customers’ money from the watch sales and used it to maintain his lavish lifestyle. At times, court documents said, Farrer would send customers pieces that were different from what they’d requested. Court documents state the Rolex actually belonged to another customer who’d given it to Farrer to sell on consignment.

Persons: CNN — Anthony Farrer’s, Farrer, ”, Erica Choi, scammer, “, Anthony Farrer, they’d, who’d, he’d, “ I’ve, I’ve, …, Ciaran McEvoy, he’s Organizations: CNN, Lamborghini, Ducati, Business, YouTube, Office, Central, Central District of, Rolex, US Locations: Beverly Hills, Santa Monica, Las Vegas, Central District, Central District of California, Dallas, LA, Los Angeles, California, South Carolina , Colorado , Texas, Florida, Beverly, Swiss, Texas

☆ The great Rolex recession is here: How the Fed crushed the luxury watch boom
▼ + stars: | 2023-07-30 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +4 min

The WatchCharts market index and has slumped 32% from an all-time high in March last year. When the 'everything rally' was in full swing during the pandemic period, luxury watches were no exception. Preowned watch sales reached $22 billion in 2021 – nearly a third of the $75 billion luxury watch market, according to a report from Boston Consulting Group. The Rolex index is up by more than 55% from five years ago. "Luxury watches have performed well, especially over the long term, in comparison with traditional investment categories.

Persons: Patek Philippe, Audemars, Philippe, Audemars Piguet, Patek Philippes, Piguets, – Organizations: Service, Wall, Rolex, Fed, Boston Consulting Locations: Wall, Silicon

☆ The 'richcession' isn't happening. The ultra-wealthy have never been richer and they're still spending like crazy.
▼ + stars: | 2023-07-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Experts say the richest are actually even richer and spending more than they were before the pandemic. Most Americans now have "spent up" demand for goods, but still have pent up demand for services, Zandi says. In her experience, luxury spending is highly correlated with the stock market, and investors have enjoyed handsome returns so far this year as the S&P 500 rebounds from its 2022 lows. The luxury services sector was a particular hot spot. "If this is a richcession, the rich are probably saying, bring it on," Zandi said.

Persons: they've, Mark Zandi, Zandi, they're, Rather, pricey Taylor Swift, Taylor Swift, Patek Philippe, Claudia D'Arpizio, D'Arpizio, Scott Dunn, Bridget Lackie, Lackie, Jennifer Stillman, Douglas Elliman, we've, Stillman Organizations: Service, Wall Street, Rolex, Bain & Company Locations: YOLO, Wall, Silicon, New York

☆ Is the World Ready for Another Goop?
▼ + stars: | 2023-07-19 | by ( Jessica Testa | ) www.nytimes.com time to read: +1 min

There was once an Instagram account called Sporty & Rich. But hobbies do not stay hobbies for long in the modern age. As her following grew, Ms. Oberg envisioned a print magazine. She envisioned a small line of merch: simple hoodies and tote bags and hats embroidered with “Sporty & Rich.” Then she began to envision a different life for herself — one of less hustle and more leisure. She moved to Los Angeles in 2018, and now her T-shirts are printed with phrases like “Health Is Wealth!” and “Drink More Water!”

Persons: Ralph Lauren —, Frank, Phoebe Philo’s, Barack Obama, Joe Namath, Emily Oberg, Oberg, ”, — Organizations: ”, tote Locations: Bedford, Stuyvesant, Brooklyn, Los Angeles

☆ Soccer superstar Cristiano Ronaldo pumps money into luxury watch resale marketplace Chrono24
▼ + stars: | 2023-07-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Cristiano Ronaldo has become an investor in Chrono24, the global luxury watch resale marketplace. International soccer superstar Cristiano Ronaldo has become an investor in Chrono24, CEO Tim Stracke told Insider in an exclusive interview. Luxury watch resale prices have declined for more than a year. The investment comes at a rocky time for the luxury watch resale market, which has seen more than a year of price declines following the tightening of interest rates and the implosion of crypto. Stracke says he and Ronaldo both believe in the long-term prospects of the watch resale market.

Persons: Cristiano Ronaldo, Ronaldo, Tim Stracke, Forbes, Stracke, Chrono24, Bernard Arnault, Al Nassr, – Stracke, Jacob &, Franck Muller Cintree Curvex, Georgina Rodríguez Organizations: Aglae Ventures, Service, International, Manchester United, Portuguese national team, Nike, Rolex, Excel, Rodríguez's Rolex Locations: Chrono24, Wall, Silicon, Saudi, Dubai

☆ Fake Rolex watches make up half of the luxury replica market, exec says
▼ + stars: | 2023-07-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Half of replica watches are Rolex replicas, according to Watchfinder's CEO. The exec told Bloomberg that the brand sees the highest demand on replica markets. Meanwhile, prices for luxury watches have fallen near two-year lows on secondary markets. The replica watch market is getting more and more sophisticated, and roughly half the market is comprised of Rolex fakes, according to the chief executive of Watchfinder & Co. "You see replica or clone watches — very, very high quality watches — of virtually all of the big luxury brands," van de Vall told Bloomberg.

Persons: Arjen van de Vall, van de Vall, it's, Joe Biden, Michael Gapen Organizations: Bloomberg, Morning, Rolex, Watchfinder, JPMorgan, Bank, America's Locations: Swiss

☆ Here's why Rolex watches are so expensive and how the brand gained its luxury status
▼ + stars: | 2023-04-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

With their precision manufacturing, specially sourced materials, and exceptional craftsmanship, Rolex watches have never come cheap, but neither were they out of financial reach for 1960s working professionals in search of perfect timekeeping and technical innovation. "Back then, anybody could afford a Rolex," Hess told Insider. Dealers would buy luxury watches in Switzerland to carry across the border and sell in Italy. That reputation has helped Rolex crush the competition with a quarter of the luxury watch market — more than double that of runner-up Omega. "They all buy the little wannabe Rolex brands in the beginning and finally, when they achieve success, they buy that Rolex."

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☆ Swiss watch execs say the market is 'slowing down' — but that just means waitlists for new Rolexes or Patek Philippes are a little less long
▼ + stars: | 2023-04-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The frenzy for new Swiss luxury watches is softening from its pandemic peak, when exports hit $27.6 billion. "The market is a little bit slower than before," Patek Philippe chairman Thierry Stern told Bloomberg. That doesn't mean watches from top brands are suddenly available to buy — it just means waitlists are slightly shorter. "I see in the past two months, the market is a little bit slower than before," chairman Thierry Stern told Bloomberg. Swiss exports boomed during the pandemic to a record 25 billion Swiss francs ($27.6 billion), but even with the recent softening, Stern told Bloomberg demand still vastly outstrips supply.

☆ Fintech has a fraud problem, and the onus is on you to figure it out
▼ + stars: | 2023-03-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Fintech's fraud misfortune. Which brings us to a story by Insider's Bianca Chan and Paige Hagy about concerns over the prevalence of fraud within consumer-facing fintechs in recent years. Click here to read more about fintech's fraud problem. We've also got the deck StellarFi, a fintech that helps users improve their credit score, used to raise $15 million. For more than 50 different decks used by fintechs to raise fresh funds, check out our library.

☆ Used Rolexes Are Beating the Stock Market
▼ + stars: | 2023-03-12 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

One of the hottest collector’s items these days is a preowned luxury watch. Expensive secondhand watches from brands such as Rolex and Patek Philippe have become increasingly popular in recent years, particularly with younger buyers, according to a report published this month by Boston Consulting Group. Preowned luxury watches became more valuable as demand grew but supply remained tight, BCG said.

☆ Why now may be a good time to buy a used Rolex — if you plan to keep it
▼ + stars: | 2023-02-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Prices for pre-owned Rolex watches have been on the slide for almost a year after posting record highs. The biggest reason for the price decline, analysts say, was a surge of additional watches to the market. Watch prices quickly followed suit, entering a months-long decline that is only now beginning to show signs of leveling off. But the tumbling price of used luxury watches like Rolex, Audemars Piguet, and Patek Philippe can also be explained by a simple economics principle: supply arriving to meet demand. "The price correction was mainly driven by the increase in supply," wrote Morgan Stanley equity analyst Edouard Aubin and colleagues.

☆ Rolex watches have outperformed gold, real estate, and stocks over the past 10 years, and sellers believe their future value will continue to deliver
▼ + stars: | 2022-12-21 | by ( Dominick Reuter | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Prices for luxury watches like Rolex, Patek Philippe, and Audemars Piguet skyrocketed in 2022. Demand for second-hand luxury watches will likely stay high next year, according to Chrono24 founder Tim Stracke. Around 14% of the platform's sales come from Rolex watches, and 80% of those are pre-owned. "The new programme makes it possible to purchase pre-owned watches that the brand itself has certified and guaranteed. Its aim is to bring added value to the existing supply of pre-owned Rolex watches.

☆ An ATM art installation mocks wealthy Art Basel guests by ranking their bank balances on an arcade-like leaderboard
▼ + stars: | 2022-12-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

An ATM at Art Basel Miami Beach is ranking users' bank balances with photos of them. Of the 93 ATM users seen in one recording, the bottom eight had $0.00. Daniel Greenberg, MSCHF co-founder, told CNN that "ATM Leaderboard' is an extremely literal distillation of wealth-flaunting impulses." The art collective chose the Miami location because "there is a dense concentration of people renting Lamborghinis and wearing Rolexes." And because the leaderboard keeps a continuous record, MSCHF hopes that they can show the ATM at more events as well.

☆ Chinese snap up used Rolexes, Birkins to satisfy luxury cravings amid slowdown
▼ + stars: | 2022-09-28 | by ( Casey Hall | ) www.reuters.com time to read: +4 min

"More and more people are now aware they can sell luxury goods for some money and the buyer side is noticing that they can get a great deal," said Zhu, 33. China's second-hand luxury market is tipped to grow to $30 billion in 2025 from $8 billion in 2020, consultancy iResearch said late last year. HANDBAGS, JEWELLERYOffice worker Wang Jianing is exploring buying second-hand luxury products, given the economic climate. China's luxury resale marketplace is expected by analysts to remain dominated by local players for now. Though handbags remain the top-selling category on luxury platforms like ZZER, Zhu said sales of watches and jewellery are also growing fast.

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