eBay have announced their plans to launch an ‘entire new suite of services’ for the luxury watch sellers’ market in 2019.
The marketplace aims to put more of their focus on luxury watch sellers, which over the years have grown in consumers demand on the marketplace.
eBay say that in the first quarter of 2019 luxury watch sellers will be able to start selling their goods instantly. They will be vetted according to the marketplace’s own product quality assessment system, eBay Authenticate to help shoppers see the difference between authentic and fraudulent items. eBay will put to work a pool of independent experts to mark genuine items with ‘authentic verified’ badge by extending the scheme to luxury watch sellers.
“By the end of 2019, we look to have an entire suite of services available to all luxury watch sellers and buyers on the platform. Brands will always have retail customers, but I hope and believe that when eBay becomes seen as a safer and more trusted place, we will bring in new buyers that are currently periphery to the luxury watch business and really drive demand. You have seen in the art world over the years; it has been all about developing the next generation of customers and collectors. I believe the secondary market is a great entry place. Some people find traditional retail intimidating. They walk into the beautiful boutiques and everybody is trying to sell them something. Online, I can sit in the evening and have Chrono24 up, or eBay up; I can go on Youtube and educate myself. This is what could bring new buyers into the market, and that could help maintain the success of [primary] retailers..”
-James Hendy, senior director of eBay authenticate
eBay are aiming to tap into the younger shoppers that prefer to shop online for luxury goods, which present a good financial opportunity for the market. Yet, it isn’t clear what set of ‘services’ the marketplace is willing to offer to luxury watch sellers, except for their authentication approval process that can serve as an appealing add-on to bridge the distrust gap eBay shoppers might have for the second-hand goods.
