Luxury watch sales take off on eBay

Everyone thought it would be Amazon; instead, eBay has confounded expectations by becoming one of the biggest marketplaces for pre-owned luxury watches A watch sells on eBay every five seconds from an average of 150,000 daily listings "eBay has one of the world's largest selections of luxury goods, from rare and designer handbags to fine wristwatches, and the value and selection available to buyers can't be found anywhere else," comments eBay Verticals Vice President and Manager Sam Bright, in an interview with Luxury Society.

Now an established player on the secondary watch market, which eBay estimates at $5 billion, the platform is in a position to publish its own 2020 Luxury Watch Report "We know that our community wants an added layer of confidence when buying in these categories, and to further establish eBay as a trusted shopping destination, we introduced eBay Authenticate The programme ensures that the luxury items shoppers browse on eBay are verified by third party authentication experts and sourced through select, top-rated eBay sellers" This isn't the first measure the marketplace has introduced to weed out fakes.

Set up as far back as 1998, the Verified Rights Owner programme works with 40,000 businesses and industry groups to enable rights owners to report possible intellectual property infringements which eBay then investigates As eBay explains, with conversion on authenticated inventory twice that of similar non-authenticated inventory, confidence and measures taken to gain buyer trust are key to success. . Source