He is open to it being fake. He lives in London and there have been a spat of robberies for watches. He does have a nice collection and now wears a fake Rolex and a fake PP and keeps his real ones in the safe!They are just fancy fakes. Unless your friend is living a lifestyle were it would not be unusual to wear a 60k plus watch, then everyone will know it's a fake. Fair play if he's open about it and not misleading anyone, otherwise it's a bit sad.
That's not even getting into the fact that it's a criminal offence to deal in knock offs and all that entails.
I suspect that these high price knock off Rolexes which are 1:1 and even have clones of the original movements are much harder to distinguish from the original, but at that point, why not buy a decent non-knock off watch and not worry about having a brand of watch which is more than you can, or are wiling, to pay for?
I have a couple of Rolexs that I bought many years ago. I am with you would rather but for example a CW for around that price and enjoy it.