I had the same thought with the gear I picked up. If it's fake but the quality is good and the price is low enough, who cares. Had a 'Paul Smith' corduroy blazer delivered earlier this week, cost me about £9 (was more, but the sleeve lining had a couple of tares so I got a partial refund from the seller). Quality and fit-wise it seems genuine. However, I doubt it is. The neck tag is very faded and certainly doesn't look like it ever said 'Paul Smith', I suspect the previous owner sewed the 'Paul Smith, Made in England' patch in at a later date. Doesn't really bother me though, it would have cost me a pretty penny in most vintage clothes stores, even without the Paul Smith tag.