counterfeiting

Secrets of the New $100 Bill

Filed under: Wealth

Nice makeover, Benjamin. The new $100 bill -- due to be released February 10, 2011 -- is super secure and full of new, hidden features.

"As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we're staying ahead of counterfeiters," said Secretary of the Treasury Tim Geithner. What's especially nice is that with this new hundred dollar bill, you don't have to be an expert to see if you're being fooled.

For example, see that blue ribbon? That's a "3-D Security Ribbon." The bells and 100s move and change back and forth like those hologram cards from the 80s. There's also a bell in that inkwell you can just barely see; it changes color from copper to green when you tilt the note. The watermark portrait of Benjamin Franklin is also very hard to replicate, so know your Founding Fathers and you should be all set.

Tags: 100 bill, Benjamin Franklin, counterfeit, counterfeiting, CounterfeitMoney, currency, money, treasury

Continue reading “Secrets of the New $100 Bill”

Buyer Beware: Fakes Flood Art Market

by Tom Johansmeyer (RSS feed) —

Filed under: Art

Art crime is running rampant around the world. More of the modern Russian art on the market is fake, according to an ArtInfo report, and authenticity is a problem in Vietnam, as well. There are lawsuits here in the United States, as well. So, ArtInfo asks the fair question: why are the wealthy, usually financially savvy so vulnerable when it comes to art?

Excitement is certainly part of the problem. The high prices, limited supply and egos involved create an emotionally charged environment. As hedge fund spouse Danielle Ganek observes in her (rather painful) novel, Lulu Meets God and Doubts Him, "Art is the new cocaine." Yep, and that leads to some hasty decisions.

Experience usually makes a difference in protecting collectors from fakes. New collectors rush into the bidding process, not always understanding the quality or history of what they're buying, though there's also plenty of room for seasoned buyers to make mistakes. For the newcomers, the risks include wanting to gain access to what is seen as an exclusive club, social pressures to abide by this subculture's conventions and an unwillingness to ask questions ... mostly because of those social pressures.

Yet, for all the regrets that top collectors have related about impulse buying, there are others who lament not having been faster on the paddle.

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Tags: art, art collecters, art collecting, art collection, art collector, art market, ArtCollecters, ArtCollecting, ArtCollection, ArtCollector, ArtMarket, artwork, counterfeit, counterfeit goods, CounterfeitGoods, counterfeiting, counterfeits, russian art, RussianArt

The 'Impossible-to-Counterfeit' Qaue de L'ile Watch

by Rigel Celeste (RSS feed) —

Filed under: Timepieces / Watches

Every luxury watch brand has knock-off versions, in varying degrees of quality and effort, but if you want a timepiece that can't be copied then the Quai de L'ile by Vacheron Constantin is for you. The Qaui de L'ile is named after the watchmaker's historic address in Geneva and has a laundry list of high-tech features that are said to make the watch "counterfeit-proof." Some of the most interesting are tiny words printed with special inks like those used to make money, laser engravings on the dial so small they can't be seen without a magnifying glass, and layers of invisible markings that only show up clearly under UV light (you can almost see one, a sun symbol, in the picture above between the 1 and the 2 on the dial).

The Vacheron Constantin Quai de L'ile was just launched last month and, depending on features, is priced between $29,000-$60,000.

Via DVICE

Gallery: The 'Counterfeit-Proof' Qaue de L'ile Watch

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Tags: counterfeit, counterfeiting, knock-off, knock-offs, timepiece, timepieces, vacheron constantin, VacheronConstantin, watch

Are Counterfeit Products eBay's Responsibility?

by Deidre Woollard (RSS feed) —

Filed under: Auctions

It's not big news that counterfeit items can be purchased on eBay but the lawsuit by Tiffany against eBay may be a turning point for the fight against counterfeits at the popular auction website. In his opening statement in the suit, James Swire, a lawyer for Tiffany, said that a full 75% of 325 items that Tiffany has bought on eBay through a buying program the company started in 2004 were counterfeit. That's a pretty damning statistic. The lawsuit alleges that eBay has failed to stem the tide of counterfeit Tiffany merchandise available for sale on their website.

According to the Wall Street Journal, Bruce Rich, eBay's lawyer, said the company is always working to ferret out sellers of fraudulent goods and has always been responsive to the complaints from Tiffany. Tiffany first sued eBay in 2004 saying that they should automatically screen their listings for counterfeit products. Mr. Rich's take is that according to federal trademark law it is the responsibility of the trademark holder to deal with counterfeiters. He also said that hundreds of thousands of sellers have had their accounts suspended after reports of counterfeit sales. The Verified Owner Rights program on eBay does provide an online form through which a company can notify eBay that their intellectual property rights are being infringed upon and this often results in the auction listing being pulled.

This is far from the only suit that has faced eBay over counterfeiting. They have faced legal action from Louis Vuitton and Rolex over the same problem. In 2001, Rolex sued eBay's German subsidiary for trademark infringement and lost. Earlier this year, Germany's top court ruled that eBay must do more to halt the sale of counterfeit goods on its site.

For the consumer who wants to avoid counterfeit merchandise on eBay, a little research can make a big difference. Looking at the feedback score of the seller and reading the comments can give you some insight into the seller's history. A feedback score of at least 99 percent is best. Also when you are in the seller's history click on the past auctions. If this seller has sold a lot of similar or even identical branded items this is a big red flag. Also, sadly, if it sounds too good to be true and the price is really low you may be looking at a fake.

Another option for online brand name shopping is Portero, an auction site which guarantees 100% authenticity and sells directly to the consumer rather than through sellers. The only problem with Portero is that it is a much smaller operation and the selection is limited. Also the prices are generally higher.

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Tags: counterfeiting, ebay, online shopping, tiffany