Replica and Fake are very different legal entities

A **fake** is a knock-off of a genuine watch presented as genuine. i.e, you bought a fake. You were deceived.

A **replica** is a knock-off of a genuine watch that is presented as a rep.

A **fake Rolex** is a knock-off of a genuine Seiko that is presented as genuine.

A **replica Rolex** is a knock-off of a genuine Seiko that is presented as a rep.

A **Frankenstein** means official parts from different models have been combined to make the watch.

An **Aftermarket** watch means it's an official watch with non-official parts replaced on some of its components.

A **homage** is a watch that closely resembles another brand's design.

Person A sells a replica to Person B. Person B knows it isn't legit. Between them the sale is not deceptive. Person A can only get into trouble for selling replicas.

Person A sells a fake to person B. Person B got swindled. The sale was deceptive. Person A can get into trouble for selling a fake.

It's like a painting. If you have a copy of the Mona Lisa it's a replica. If you try to sell it as the original then you are selling fakes.