What does the term 'bogus' mean when describing an item?

The term 'bogus' refers to something that is not genuine or fake. It is often used to describe items that are counterfeit, fraudulent, or otherwise misleading in their authenticity. For example, if someone sells a 'bogus' designer handbag, it implies that the bag is a replica or imitation and not an actual product made by the designer. This meaning conveys a sense of deception regarding the item’s true nature or value.

The other choices describe items in a positive or authentic context, which does not align with the meaning of 'bogus.' Options indicating high value, rarity, or authenticity are fundamentally different from the concept of something being fake or illegitimate. Thus, the correct understanding of 'bogus' is encapsulated clearly in the choice that identifies it as 'not genuine.'