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 fake 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.