There is a story in the newspaper today about a Norwegian that got a fine for buying a fake Rolex at St. Lorenzo market in Florence. The poor kid is only 12 years old and he was arrested and he got a 1000 € fine for buying the watch. But from what I understand the fine could have been up to 10.000 € so I guess the family shouldn't make too much fuzz about this. So I guess the conclusion is...don't buy fake stuff in Italy
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