Personally, I've never seen a fake Hammy but that doesn't mean much. I'm sure they do exist. Much of the price difference you see between ADs and ye 'ole internet can be attributed to gray market dealers online. Hamilton seems to be very strict about who they let sell their products. Authorized online dealers typically may not be allowed to even list prices on their websites. Sites like redfingerprint.com and orolus.com (typically located in places such as Singapore, and Malaysia) are definite gray market but many here have ordered from them with great success/service. Of course, Hamilton will not, I'm sure, under any circumstances, honor factory warranty on a watch purchased through a non AD shop, regardless of location. So that kind of leaves the ball in your court. Find a reputable non-authorized online dealer (some here can comment on success/lack of in specific) and save some bucks. Or "pay the man" to get factory warranty through an AD, which may, in the long run, um, save some bucks/frustration!?