A clear example is the Richard Mille RM 055 Bubba Watson.
Depending on its production year and market condition, the value of a complete example with its original certificate can vary significantly. A watch from a later or discontinued production year may command a substantial premium, while the same watch without its original papers may trade for considerably less.
This price gap creates an incentive for dishonest sellers to purchase an authentic watch without papers and pair it with a counterfeit certificate before reselling it as a complete set.
Unlike brands that use modern electronic warranty-card systems, many Patek Philippe and Richard Mille watches were originally delivered with paper certificates. These documents can be difficult to authenticate because their paper, printing, handwriting, format, and period-specific details must all be consistent with the watch.
A single mistake can result in a significant financial loss.