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Existing work on counterfeiting and consumer demands agrees that the economic motivation remains the major explanation for counterfeit consumption—people buy knockoffs because they cannot afford the originals. Yet this explanation cannot account for a counterintuitive pattern increasingly visible in China and beyond—many consumers buy and wear both counterfeit and authentic luxury goods. Why purchase fake bags when one can afford the authentic goods? Drawing upon 36 in-depth interviews with counterfeit consumers, owners who only have authentic bags, and counterfeit sellers, I find that Chinese consumers strategically hide their wealth to manage their impressions given off and navigate both professional and personal relationships. While prior studies have shown that Western elites downplay their wealth to reconcile their moral anxiety about class inequalities, my study reveals a distinct set of cultural logics in a Chinese context. I explore the desires behind counterfeit and luxury consumption, showing how people use material goods to actively reimagine themselves across social relationships.