Short answer
A fake Villeret 6654-1127 is a counterfeit of the Blancpain Villeret Quantième Complet, reference 6654-1127-55B in steel with an opaline dial. Blancpain does not license the design to third parties. A watch sold as new without Blancpain papers, without a serial that matches the movement, and at a price far under retail is a copy.
What the numbers mean
6654 is the caliber number, and Blancpain uses the caliber as part of the reference. 1127 is a case and dial code for steel with a white opaline dial. The suffix names the strap or bracelet: 55B for alligator leather, MMB for a steel bracelet. Blancpain does not publish a public decoder for its reference numbers, so treat these readings as observed from dealer and auction listings.
The movement is the first check
Caliber 6654 is an automatic movement with a silicon balance spring and a 72-hour power reserve. Blancpain has used silicon balance springs since 2006. Look through the sapphire caseback. You should see Côtes de Genève stripes on the bridges, straight beveled edges, and a rotor engraved with the Blancpain name, the Manufacture line and the caliber number. A counterfeit movement carries a generic base, no silicon spring, and decoration that stops short of the oscillating weight.
Dial and hands
The dial layout is fixed. Day and month windows sit under 12 o'clock. The moon phase aperture sits at 6 o'clock. The date is read from a blued steel serpentine hand that points to an outer track. These models use no luminous paint. Markers are applied, and on steel and gold versions they are gold. Print on a copy shows thick type, tight letter spacing, and a moon disc that sits too deep or too flat under the crystal.
Case and correctors
The case measures 40 mm across and carries a rating of 30 m for water resistance. Recessed correctors on the case band set the day, date, month and moon phase. Copies replace the recessed correctors with flush pins that cannot be pressed, or drop them from the case. A 30 m rating means the watch is not built for swimming, genuine or not.
Caseback, serial and papers
The caseback is sapphire and held by screws. The reference number and a serial are engraved on the caseback. The same serial appears on the movement and on the certificate. Numbers on a genuine watch are cut into the metal and read clean under a loupe. Laser-printed numbers, a reference code that does not match the dial layout, and a missing certificate point to a copy. Counterfeit boxes and cards exist, so papers alone do not settle the question.
Price
MSRP for a steel 6654 sits in the five-figure US dollar range. Confirm the current price with an authorized dealer. Listings at 5 to 10 percent of that figure are not genuine watches.
Limits of a photo check
A photo cannot confirm a watch. A watchmaker with the case open can compare finishing, the balance spring material and the movement number against Blancpain records. Buy from an authorized dealer, or from a seller who allows an inspection period and a return.