Yahoo Finance Aussie shoppers warned over fake designer handbags: ‘Buyer’s worst nightmare’
Concerned shoppers are being urged to authenticate their items.
Several Aussie shoppers have accused luxury megastore Cosette of selling them fake designer handbags, with one spending more than $2,400.
The allegations came to light in a joint investigation by The Sydney Morning Herald, The Age and A Current Affair this week.
One buyer said she spent $2,400 on a Saint Laurent medium envelope chain bag but, when it arrived, it seemed a little off. She then got the bag re-authenticated and it came back as a fake.
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Another buyer said she spent $1,500 on a Gucci Marmont camera bag and used it for two years before getting it independently verified as fake.
New South Wales Fair Trading is now involved and has received 75 complaints since the initial report.
Cosette has denied claims made by The Sydney Morning Herald, The Age and A Current Affair, saying all goods sold were genuine.
Harder to spot
Finder money expert Angus Kidman said the “telltale signs of a fake” were getting harder to spot, with sellers becoming increasingly sophisticated.
“It’s a buyer's worst nightmare – spending thousands of dollars on a bag for it to be deemed an imposter,” Kidman said.
“Aussies who are concerned they have been impacted are urged to authenticate their item with the manufacturer and contact the Australian Competition and Consumer Commission if they’ve been misled about a purchase.”
Risky venture
Finder is also warning Aussies about the risks of buying luxury goods, such as designer handbags, as a form of alternative investment.
According to Finder’s research, almost one in three Aussies have put their money into alternative investments, with the intention to make money as the item appreciates in value.
Bags were among the most popular investments (20 per cent), along with sneakers (34 per cent), tickets (29 per cent) and electronics (18 per cent).
Other goods consumers were hoping to upsell included trading cards (18 per cent), art (16 per cent) and luxury watches (14 per cent).
“While it can seem tempting to try and make money investing in luxury items, it's a risky venture at best,” Kidman said.
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