eBay amps up authentication security on watches with Authenticity Guarantee
As the resale market for luxury goods and collectibles sees record growth, it comes as no surprise that eBay, the OG online resale marketplace, has become more and more involved in the business of luxury and high dollar items — this of course includes high value watches. That being said, other players like Chrono24, Crown & Caliber, and even The RealReal are getting their fair share of the online resale market for watches. With a fierce competitive landscape, eBay has implemented a new authentication model to maximize the platform’s value on both the buyer and seller’s end.
Authenticity Guarantee requires that all watches that sell for over $2,000 are subject and required to undergo a rigorous two day inspection by a third party before they land in the hands of the buyer. The logistics of this process are handled by eBay and should not cause any inconvenience for either party. Most importantly, eBay covers all of the costs of the authentication process which means there are no more consignment fees that sellers had to cover in previous eBay authentication models. Buyers can shop with maximum confidence knowing that the product they have purchased will be carefully vetted. Watches that undergo the Authenticity Guarantee process will be given a security tag. If the seller offers returns in the case of buyer’s remorse, buyers must return the item with the security tag untampered and it will pass back through the authentication process free of charge.
EBay’s implementation of this authentication process specifically for watches is a subtle but notable indication of the current state as well as the future of the market for watch resale. In the past, eBay has been able to monetize its authentication models. But by requiring Authenticity Guarantee for watches selling for over the $2,000 price point, eBay is succumbing to the competitive state of the market by taking on the financial burden of the authentication process. This allocation of resources by eBay has us feeling confident not only as we buy watches from the retailer, but also that we are investing into a market that is thriving. Learn more about Authenticity Guarantee here: https://pages.ebay.com/authenticity-guarantee-seller/
