The Counterfeit Watch market consists of watches that are created and sold under recognized brand names without the permission of the legitimate watch maker.
Fake watches are costing the Swiss Watch Industry $655 million in lost sales.
Source: Swissinfo, " Watchmakers sound alarm over internet fakes," swissinfo.org, December 19, 2006, http://tinyurl.com/25gllw (accessed: December 20, 2006).