eBay, the e-tailer, is making inroads on being a major marketplace for high-end goods
eBay is continuing to make inroads into the luxury industry.
The website on Tuesday expanded its consignment service to include high-end watches, jewellery, and footwear. Among the brands being accepted by the program are Christian Louboutin, Jimmy Choo, and Louis Vuitton for shoes; Chanel, David Yurman, and Neil Lane for jewellery; and Breguet, Girard-Perregaux, and Jaeger-LeCoultre for timepieces.
eBay’s consignment programme debuted at the end of last year for handbags, and it added apparel to the mix in March. The service is meant to make selling high-end goods easier for those looking to offload their pieces, and more trustworthy for those hoping to buy them. The e-tailer has partnered with the company Linda’s Stuff to streamline the process: a seller fills out a simple intake form, then receives a prepaid and insured shipping label to send in their items. eBay and Linda’s Stuff photograph, price, and list the item, with the seller receiving a commission based on the final sale price. If a piece sells for US$5,000 or more, for example, the seller receives 80 per cent.
Since launching its consignment service, eBay has seen that items listed that way are selling for more than similar pieces listed on the website in the more traditional way. In just one example, a small quilted Chanel 19 flap bag consigned in December hurdled past the average sales price for the same purses sold on eBay by 45 per cent.
In recent years, eBay has been training its efforts on making high-end, pre-owned items easier to sell and buy on its platform. It has implemented programmes like Certified by Brand and Authenticity Guarantee to ensure that users feel confident when buying and selling luxury items on the website. And those sorts of used and refurbished items now compose 40 per cent of eBay’s gross merchandise volume.
While it may seem a bit strange to sell your luxury items on eBay rather than a designated site, the e-tailer might be breaking out as the next big luxury marketplace, especially when it comes to pre-owned pieces.
This story first appeared on Robb Report USA
