Rogelio Villarreal knew nothing about the French jeweler Cartier, he said, when an ad popped up on his Instagram feed last December. He clicked on it, perusing the pages of bling and other luxury items, including handbags, watches and necklaces, each listed for thousands of dollars.
Then Mr. Villareal, who lives in Mexico, noticed a pair of earrings: slender studded 18-carat rose-gold cuffs lined with diamonds, priced at just 237 Mexican pesos, or about $13.
He bought two pairs. Later, the price for the earrings was adjusted on the Cartier website to 237,000 pesos —…
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