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eBay Hit With Counterfeit Goods Fine

eBay is a little poorer today. The giant Internet auction site has been fined 20,000 Euros (about $31,000) for allowing counterfeit goods to be sold through its auctions after a suit was brought in France by luxury goods maker Hermes. That could set a precedent for future suits, which could include those brought by Tiffany and Louis Vuitton.

eBay has honoured requests to remove counterfeit items from auctions. However, in many ways counterfeits sold there are small potatoes, as one estimate says that 10% of all global sales of branded goods are counterfeit.

Milton Pedraza of the Luxury Institute said:

"Every luxury brand has an obligation to protect consumers against counterfeits, and consumers should make every effort to ensure that the branded luxury goods they purchase online or through any other distribution channel are legitimate."

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