While I dont disagree that some of them are probably fakes, I think many of them are overruns / seconds. It would be like buying 'defected' name brand clothing at a huge discount.. I'm still on the fence about the whole cheap lots.. And especially pins that are listed not as fakes, but overruns.. You would still more then likely see the same pins on CM lanyards, because people are going to buy the 'sale' pins etc that WDW has anyway if they are trading.. I've done my share of 'collecting' in the past and the only people that make out on that are people that know someone that will make sure they get the pins at the retail price, employees that buy the pins when they first come in, or people that 'live' at the parks / go pretty much every day to be able to take advantage. And of course Disney..