In this case, once the bogus goods made their way on consignment to reputable auction houses or to other art experts, the sham was revealed.

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Low Value Consignment Relief (LVCR) will not apply to goods sent from the Channel Islands to the UK from 1 April.

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Low Value Consignment Relief, which allowed companies based in the Channel Islands to send low value goods to the UK without paying VAT, was abolished in April 2012.

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For example, in the course of reporting the story, Luxury For Less: New Web Sites And Shops Offer Gently Used Designer Goods, Forbes contributor Wendy Goffe bought the handbag pictured above at the San Francisco consignment shop, Cris.

FORBES: How To Spot A Fake Designer Handbag

But a growing number of people looking for bargains will shop for these goods through online discounters, or buy them on the secondary market, online or at consignment shops.

FORBES: How To Spot A Fake Designer Handbag