Latest news with #Altieri
Business Insider
18-05-2025
- Business
- Business Insider
How to tell if a Cartier or other luxury watch is fake
Millennial and Gen Z adults have a high interest in watches as investments, a survey found. Spotting fake watches requires knowledge of brand-specific details and authentication methods. "If it has to shout, it's probably a fake," Paul Altieri, CEO of Bob's Watches, told BI. Although it's unlikely you'll score an authentic Cartier watch from the guy selling them on the sidewalk, there are key signs to tell if you're looking at a unicorn or a dud. The pre-owned watch market is booming. Bank of America's 2024 survey of 1,007 high-net-worth Americans found that 65% of the respondents said they're interested in collectibles. Millennials and Gen Z were particularly more likely to collect watches as investment pieces than older generations. Those new to the scene will need to know how to spot fakes as they're building their collection. Some brands, including Rolex, offer their own certified pre-owned programs that provide a trusted way to purchase an authenticated watch. However, there are a number of smaller shops or online businesses that deal in used luxury watches. Although you could find a hidden gem, a trained eye is required to shop successfully. "When navigating the pre-owned luxury watch market, it's crucial to remember that you are buying the seller and their reputation as much as the watch itself," Swiss Watch Expo CEO Eugene Tutunikov told Business Insider. A trustworthy dealer will always stand behind their pieces and have a rigorous process to ensure authenticity. Private investigator Rob Holmes previously told BI that an estimated 23.3 million counterfeit watches were circulating in the United States as of 2024. Here are some ways to tell fake luxury watches apart from the real deal, according to those who sell watches for a living. Omega For Omega watches, poor-quality engraving, on the watch's case especially, is a dead giveaway that a watch is counterfeit. A Seamaster model, for example, can be verified by the wave pattern on the dial and the placement of other fine details, Paul Altieri, CEO of watch marketplace Bob's Watches, told BI. Aside from aesthetics, the serial number might also be a red flag. "Many fakes reuse numbers pulled from real watches, so if something feels off, verifying it with Omega or an authorized dealer can help," he said. Audemars Piguet Audemars Piguet watches go for five figures or more, depending on the model. The 41-millimeter Royal Oak Selfwinding retails for $28,600. "Fakes of the Royal Oak often fall short on the dial's 'Tapisserie' pattern — either it's too shallow, uneven, or just plain wrong," Altieri said. Bezel screws, a detail that Audemars Piguet watches are known for, will be "perfectly aligned" on the real thing with expert polish and finishing. The watch should feel crisp and clean and not take shortcuts on the small details, Altieri said. Patek Philippe The movement of a Patek Philippe is a "huge tell," as they're known for "flawless hand-finishing," Altieri said. The Patek Philippe Calatrava has a $33,113 retail price. "Counterfeits usually have crude, undecorated movements, or generic ones that don't match the brand's caliber," Tutunikov told BI. Incorrect fonts or spacing on the dial, especially around the date window are giveaways for fake Pateks, Altieri said. Panerai Panerai watches have distinct design elements, including the signature crown guard with a locking mechanism on the side. Loose or awkward-feeling crown guards are a problem. "The cases are often too bulky or the signature crown guard doesn't have the right shape or feel," Altieri said. Lume, a material applied to watch dials to make them glow in the dark, is a feature that could give away a fake. On the real thing, the lume glows a specific color that fakes don't get right. Cartier Cartier is known in the watch community for its precision. Any sign of rough craftsmanship is a red flag that shouldn't be ignored, Altieri said. Specifically, he said, "Roman numerals that aren't aligned perfectly " and sloppy screws on the case are typical problems. "Fakes often have shallow, blurry, or inconsistently spaced lettering and incorrect font styles," Tutunikov told BI. Another clue that's subtle at first but easily spotted when you know what to look for is the "secret signature" hidden on Cartier watches. It's etched at an angle in one of the Roman numerals on the dial. If that's missing, it's best to look elsewhere — unless it's a much older model that pre-dates the design, Altieri said. "A true luxury watch whispers quality in every little detail. If it has to shout, it's probably a fake," he continued.
Arabian Business
09-04-2025
- Business
- Arabian Business
Luxury watch trends 2025: Potential discontinuations from major brands to aid boom in secondary market
The luxury watch industry in 2025 is navigating a landscape marked by economic fluctuations, evolving consumer tastes, and a heightened emphasis on authentication and transparency. 'While the market has corrected from its 2021-2022 highs, luxury watches remain a strong asset class. The best pieces, particularly those with limited production, historical significance, or unique complications, continue to appreciate,' said Robertino Altieri, CEO of in an exclusive interview with Arabian Business. Speculation on potential discontinuations from major brands While no formal announcements have been made, Altieri hinted at ongoing speculation regarding potential model discontinuations by leading brands such as Rolex, Patek Philippe, and Audemars Piguet. 'Rolex, for instance, has been known to surprise the market by retiring popular models, which often fuels secondary market demand,' he said. Patek Philippe 'could make adjustments to its Nautilus line, given past moves, and Audemars Piguet continues to evolve beyond the Royal Oak,' he said. Historically, discontinued models have seen immediate spikes in collector interest and resale value. Material and design trends in 2025 Currently, there are several prevailing product trends: Materials: 'We are seeing a strong push toward titanium as brands emphasise lightweight yet durable materials,' Altieri explained. Dial colors: 'Shades of green, salmon, and burgundy remain popular, while icy blue and pastel hues are making a significant impact.' Case and bracelet innovations: 'Ceramic cases and integrated bracelets are becoming more mainstream.' Despite a 2.8 per cent decline in Swiss watch exports in 2024, primarily due to decreased demand in China and potential US tariffs, the fair underscored optimism and innovation within the industry. 'Economic conditions play a critical role in shaping luxury watch releases,' Altieri said. He noted a dual-track approach by brands: limited releases targeting high-net-worth individuals and lower-entry models designed to attract new collectors. 'Inflation and fluctuating currencies also mean that price adjustments across key brands are likely.' Investment perspective on luxury watches Altieri maintained that luxury watches are still regarded as a solid asset class in 2025. 'While the market has corrected from its 2021-2022 highs, luxury watches remain a strong asset class,' he said. 'The best pieces, particularly those with limited production, historical significance, or unique complications, continue to appreciate.' He advised that investing should be based on long-term intrinsic value, not short-term speculation. According to industry experts, 'The Rolex Daytona, Patek Philippe Nautilus, and Audemars Piguet Royal Oak continue to be the safest blue-chip investments.' Altieri also pointed to independent brands: 'F.P. Journe and Richard Mille have shown remarkable appreciation due to their exclusivity.' Additionally, he revealed an increasing interest in vintage models from Cartier and Vacheron Constantin. The secondary market has normalised since late 2024. Altieri said, 'The secondary market has stabilised after the speculative boom of recent years. Pricing has become more realistic.' He reported an increased demand for vintage and neo-vintage watches from the 1980s and 1990s. 'Transparency and authentication are more critical than ever, with buyers prioritising trusted sellers and platforms,' he added. According to the findings from Deloitte's Swiss Watch Industry Insights 2024 study, prices on the second-hand market peaked in March 2022, then fell by 16.4 per cent over two years before stabilising in 2024. The study also revealed that a fifth of consumers planned to buy a second-hand watch in 2024, a proportion that has doubled since 2020. For new collectors, Altieri recommended focusing on historical and brand significance. 'It's essential to buy watches you genuinely love, rather than solely for investment purposes,' he said. 'Focus on models with historical importance, limited production numbers, and strong brand heritage. Also, purchasing from reputable sources and ensuring proper documentation is more important than ever.' Emerging brands with growth potential Altieri identified several brands with potential for future growth: Tudor: 'Tudor remains undervalued, especially vintage models.' Breguet and Girard-Perregaux: 'These brands have yet to see the price surges of other high-end brands.' He also revealed a rising interest in H. Moser & Cie and A. Lange & Söhne, 'particularly for their limited production pieces.' 'Smartwatches have found their niche without significantly cannibalising the luxury market,' Altieri observed. 'They have introduced younger generations to wristwatches, potentially leading them toward mechanical timepieces in the future,' he said. Evolving sales and marketing strategies 'Brands are increasingly adopting direct-to-consumer models and limiting authorised dealer networks,' Altieri said. He noted the growing presence of boutique exclusives and online sales channels. 'Collaborations with celebrities and athletes remain key marketing strategies.' He added that blockchain integration for authentication and ownership tracking is 'becoming an industry standard to enhance buyer confidence.'
Yahoo
20-03-2025
- Business
- Yahoo
Long Island Ponzi schemer who fleeced cops, firefighters gets 2.5 years after cooperating with feds
A Ponzi schemer's 'extraordinary' cooperation with authorities wasn't enough to spare him federal prison time, after one of his many victims spoke out in court about the enormous human cost of his multimillion-dollar scam. Gregory Altieri, a former Long Island jewelry business owner, was sentenced to two and a half years behind bars Thursday, after he snared investors in Queens, Staten Island, Long Island and elsewhere into raising tens of millions to buy jewelry at closeout prices to resell for big profits. He started the scheme in 2015. Two years later, he began pulling several active and retired cops and firefighters into his web through his relationship with a retired officer-turned-investor, according to court filings. And though Altieri started buying jewelry at first, by May 2018 he was paying old investors with money from new ones. His scheme started teetering in September 2019, when he threw a dinner at Calogero's Restaurant in Garden City to calm about 150 worried investors. By January 2020, the house of cards came down, when he bounced $74 million in checks. Altieri's lawyer, Edward Sapone, said his client came to him before federal authorities had an inkling of wrongdoing, to get ahead of any investigation and to 'do what's right.' Over the next five years, Altieri cooperated with government investigations, including a probe into Long Island 'Lottery Lawyer' Jason Kurland, who is serving a 13-year sentence for fleecing Powerball and Mega Millions winners who trusted him to invest their jackpots. Kurland and his cohorts sunk tens of millions into Altieri's scheme. 'Lots of investigations were underway as a result of that [cooperation],' Sapone said. 'He wore wires… He placed, over the years, hundreds of phone calls.' According to U.S. Securities and Exchange Commission documents, his investors and lenders pumped at least $140 million into the scheme. Sapone said that more than 92% of the victims' losses were recouped through Altieri's bankruptcy efforts. 'I know what I caused — grief, agony in people's lives,' Altieri told Brooklyn Federal Court Judge Brian Cogan. 'I can say I'm sorry a million times to people. I'm not sure it'll ever work…. This is a one-time mess-up of a lifetime, and all I want to do is make good.' Victim Larry Pomerantz countered that Altieri had opened up about being a victim of a similar fraud scheme years earlier. He described how he witnessed Altieri's face flush red with anger when the scammer who victimized him walked into a Starbucks where they were getting coffee. 'It's so ironic that I witnessed with my own eyes the effect that experience had on him, considering how the next few years played out,' Pomerantz said. 'Did he think the best way to use his horrific life experience was to pay it forward and orchestrate his own crime?' Pomerantz said his fellow victims suffered financial stress, emotional and physical strains and broken relationships. 'The real effects have been monumental,' he said. 'He never cared about the chaos he created. Zero empathy, no conscience.' Citing bankruptcy documents, Pomerantz also pointed out that of roughly $28 million clawed back in losses, about $8 million went to fees and legal bills connected to Altieri's bankruptcy. The judge said he had to weigh Altieri's lawyer's remarks, plus the 'tangible results' of the fraudster's cooperation, against the version of the defendant described by Pomerantz. 'When I look at the nature of this crime, it's pretty hardcore lack of empathy,' Cogan said. 'What we heard from Mr. Pomerantz is the collateral effects on the victims, and those are also very real.' Altieri is scheduled to start his sentence on June 18.
Yahoo
20-03-2025
- Automotive
- Yahoo
DC police warn of uptick in theft of cars with keyless entry, push-to-start ignition
The Brief D.C. police say there has been an increase in the theft of cars with keyless entry and push-to-start engines. In the last seven days there were 101 car thefts and police say many of them were keyless cars. Police say the thieves are stealing the cars two ways: 'on-board data port' or 'OBD,' and by making a copy of your car key through your home walls and windows. WASHINGTON - Car thieves are going hi-tech, leading to a spike in car thefts in D.C., and police are issuing a warning for drivers, especially those with 'push to start' ignition in their cars. If your car key is a remote, police say it could make your vehicle a target. In the last seven days there were 101 car thefts and police say many of them were keyless cars. "2023 was definitely the highest year," said Sylvan Altieri, the Assistant Chief of Patrol Services with MPD. "And that was based on the Hyundai Kia challenge." For car thefts, during a four-year period in the nation's capital. The numbers dipped in 2024 but they are back up. "Right now, we have a six percent increase here to date, compared to 2024," Altieri says. And many of these recent car thefts are connected to remote car keys. What They're Doing Assistant Chief Sylvan Altieri with Metropolitan Police Department says there are two ways theives are stealing push-to-start cars. The first is through the 'on-board data port' or 'OBD' that's usually underneath the dash, below the steering wheel. "We've noticed that thieves have a way now where they've created a device, they get into your vehicle and once they gain access they plug into that, they're able to gain data, reprogram a cloned key and steal your car," Altieri said. "That is why when you come back to get the car you can no longer start it because the programming has been switched." That can be prevented by purchasing a lock that goes over the port. It's an easy tool that takes seconds to install. The second way thieves are stealing cars is by making a copy of your car key through your home walls and windows. "The closer they get to your home the better. They come up to your window and what they are doing is stealing your signal. Once they get that signal, same process — they clone your key and take your car," Altieri says. Altieri says to block that signal, people should purchase a Faraday box and drop their keys in when they get home. Be Prepared "As technology grows, ways for you to commit crimes kind of goes along with it," said Altieri. But he says one of the best car deterrents, no matter what kind of car you drive, is a steering wheel lock. The wheel lock, bags and boxes Altieri suggested all cost under $50 — an investment that could prevent a thief from getting away with your car.
Voice of America
16-02-2025
- Science
- Voice of America
European Telescope Discovers ‘Einstein Ring' in Nearby Galaxy
Scientists say Europe's Euclid space telescope has discovered a bright ring of light circling a nearby galaxy. The observed light is known as an Einstein ring. Researchers have estimated the ring encircles a galaxy 590 million light years away from Earth. A light year is the distance light travels in a year – about 9.5 trillion kilometers. Astronomers have long known about the galaxy where the ring was discovered. So, they were surprised that the bright ring had not been identified before. It was discovered in a well-studied galaxy called NGC 6505. It is in the constellation – a group of stars – named Draco. Einstein rings are rare. They form when light from a more distant galaxy bends around a closer galaxy. The nearer galaxy appears to have a circle of light, or a halo, around it. The Einstein ring gets its name from physicist Albert Einstein. Einstein predicted that light would bend around extremely massive objects in space. This is called 'gravitational lensing.' The American space agency NASA explains that as light passes through a gravitational lens, 'it may take different paths, producing multiple images of the same object.' In this way, gravity itself acts as a lens, magnifying and distorting space and time in a way that is similar to an optical lens like those in eyeglasses or contact lenses. Gravitational lenses permit telescopes like Euclid to observe more distant and less-bright objects. In the latest project, researchers from Germany's Max Planck Institute for Astrophysics used data from Euclid to create a computer model to discover the Einstein ring. The Euclid space telescope is operated by the European Space Agency (ESA). In 2023, it launched on a six-year mission that ESA officials have said aims to study the mysteries of dark matter and dark energy across the universe. Astronomers at the Max Planck Institute are leading the research. In a statement, the organization said the first sign that the Einstein ring existed came during testing right after Euclid was deployed. A team member, Bruno Altieri, was looking over early data collected by Euclid. 'Even from that first observation, I could see it,' Altieri said in a statement. 'But after Euclid made more observations of the area, we could see a perfect Einstein ring. For me, with a lifelong interest in gravitational lensing, that was amazing.' The scientists said the more distant galaxy involved in the method is about 4.4 billion light years away from Earth. They noted that the more distant galaxy had never been observed before and does not have a name. Altieri's team recently reported the findings in a study in the publication Astronomy and Astrophysics. Conor O'Riordan is another team member from the Max Planck Institute and was the lead writer of the study. He said, 'All strong lenses are special, because they're so rare, and they're incredibly useful scientifically. This one is particularly special, because it's so close to Earth and the alignment makes it very beautiful.' O'Riordan added that the researchers used the latest gravitational lensing methods developed at the institute. This permitted them to model the light of the ring. 'We even had to look at some of the raw data to better understand how the detector works.' O'Riordan said the team's modeling operations were just the first step in studying the newly discovered Einstein ring. He said the group plans to use the ring to also study 'dark matter substructures' within the lensing galaxy. O'Riordan predicted, 'Euclid is going to revolutionize the field, with all this data we've never had before.' I'm Bryan Lynn. Bryan Lynn wrote this story for VOA Learning English, based on reports from The Associated Press, the Max Planck Institute, the European Space Agency and NASA. ___________________________________________________ Words in This Story galaxy – n. a very large group of stars held together in the universe bend – v. to make something become curved distort – v. to change the shape, sound or appearance of something lens – n. a curved piece of glass in cameras, glasses and scientific equipment used or looking at things magnify – v. to make an object look larger than it is by looking through special equipment perfect –adj. complete; having no mistakes; completely correct align – v. to put things in an exact line or make them parallel raw – n. unprepared or imperfectly prepared for use detect – v. to identify something, especially something that is difficult to see, hear, smell, etc.
