As counterfeit luxury goods become harder to spot, China’s rich are paying thousands of dollars for specialty courses to distinguish authentic luxury goods from counterfeits.
China’s domestic luxury market is currently valued at around 4 trillion yuan ($ 617.7 billion), and that doesn’t even take into account the used luxury goods trade, but this boom has also resulted in nifty counterfeiting. Stories of bargain hunters being tricked into parting with their money in exchange for hard-to-spot counterfeit luxury products are rife on Chinese social media, so there are now companies offering special courses to sell authentic luxury items like Louis tell Vuitton or Chanel bags about fake ones.
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Beijing Extraordinary Luxuries Business School charges 15,800 yuan ($ 2,400) for a 7-day course that explains how to distinguish authentic luxury products from really well-made fakes. Founder Zhang Chen teaches students little-known methods of checking certain large branded products, such as: B. Which characters on a Chanel ID card should shine under UV light or which letters in the Chanel logo use a rectangular instead of a square font.
Zhang claims that the price he charges for his courses is well worth the payment as it enables students to get started in the booming second-hand luxury goods trade. His clients are all wealthy people, but they come from all walks of life from fashion magazine editors to ex-forgers who are building on their skills and looking for a less shady job.
However, Zhang’s Extraordinary Luxuries Business School is just the newest institution to offer this type of service. Back in 2018, Sixth Tone published an article about similar courses offered by the Luxury Appraisal Center