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Literature suggests that when shopping for luxury goods, consumers arbitrate between genuine and fake luxury goods, with younger consumers being more likely to arbitrate in favor of luxury fakes because of their lower income and different values. We challenge this alleged influence in the United Arab Emirates (UAE), a country where access to luxury can be controlled for, and generations differ in values following 1990s’ meteoric takeoff. Drawing on the functional theories of attitudes, a qualitative study shows that luxury consumption does not serve the same psychological functions for the pre-boom (born before 1990) and the post-boom generational cohorts in the UAE. As such, it demonstrates the power of values when explaining the trade-off between genuine and fake luxury goods, as values can explain both a current negative influence of age on counterfeit consumption in Western countries and a positive one in the Middle East. The findings are interesting for public policy makers and managers operating in the Gulf Cooperation Council countries.