Replica Labeled

Is selling replica items illegal? If consumer and seller know they are replicas and agree to do business?
As long as I display the items as replicas and state that they are not the real thing. Is it legal?
Some lawyer claims the items can even have the company brand/logo as long as they are clearly labeled as “REPLICAS” and the sale of them would still be legal.
I know it is illegal to sell replica items while claiming they are “authentic or real”, but thats not the case.
So is there a legal problem or not? is this lawyer right or wrong?
If the “replica” items have company branding, then it’s illegal. It doesn’t matter if both buyer and seller know that they are replicas, if they are branded, then that’s a violation. Just because ONE lawyer is of the opposite opinion doesn’t mean that it’s the generally accepted legal theory. Most lawyers are smart and sane. But there are some lawyers who are dumb, and some who are crazy, and some who are both.
Ask another lawyer, preferably an experienced copyright lawyer, about this if you don’t believe me.
Vertu Ascent 2010 replica