Majors

At eBay’s New Pop-Up, Pre-Owned Luxury Goods Are Currency

MajorsNov 17, 2022

At eBay’s New Pop-Up, Pre-Owned Luxury Goods Are Currency

The temporary space in New York’s Diamond District lets shoppers trade in one authenticated luxury item for another.

20221117_eBay header.jpg
EBay has opened the eBay Luxury Exchange, a pop-up that lets shoppers trade in their pre-owned luxury goods for other authenticated items.
New York—At eBay’s new pop-up, shoppers can trade in their pre-owned luxury goods for another authenticated item.
 
In time for New York Jewelry Week, the company has opened the eBay Luxury Exchange in the Diamond District.
 
Shoppers can bring their luxury items in for an appraisal. After receiving an assigned value, they can look through the store’s array of designer jewelry, watches, and handbags.
 
Once they find something they like, their appraised item can be exchanged for the new item.
 
If there’s nothing they like, shoppers can use the on-site photo studio to list their item on eBay rather than exchange it. 
 
The pop-up stocks brands like Rolex, Van Cleef & Arpels, and Gucci.
 
20221117_eBay insert.jpg
The eBay Luxury Exchange is located in the heart of New York’s Diamond District.
 
"It's never been easier for luxury enthusiasts to refine their collections in a trusted environment, and we wanted to create an IRL experience that reflects what's happening on eBay every day," said Tirath Kamdar, general manager of luxury at eBay. 
 
"The Luxury Exchange gives shoppers an opportunity to appraise and sell their valuable goods, and add something new to their personal collections, just in time for the holiday season."
 
EBay's Luxury Exchange is located at 22 W. 47th Street in New York. It is open to the public from Nov. 16-17 from 11 a.m. to 6 p.m.
 
Physical authentication is key to making a shopper comfortable purchasing pre-owned luxury goods on an online resale platform, said eBay.
 
Its upcoming brand campaign, “Everyone Deserves Real,” will highlight its authentication service and experts.
 
EBay recently expanded its authenticity service to include fine jewelry, teaming up with the Gemological Institute of America. 
 
The company is now able to authenticate new and pre-owned fine jewelry sold for $500 and above, including designer jewelry from Bulgari, Van Cleef & Arpels, David Yurman, Cartier, and Tiffany & Co.
 
 Related stories will be right here … 
 
In the face of economic uncertainty, interest in alternative investment classes, like luxury goods, has grown, said eBay.
 
The company looked into this growing interest, partnering with BoF Insights, the data and analysis think tank from The Business of Fashion, on a new report titled: "The Rise of Resale: Luxury As Currency." 
 
The report found that 30 percent of U.S. luxury shoppers surveyed believed the value of luxury handbags, watches, and jewelry is less volatile than other investment assets they own.
 
“More than half of these shoppers see their luxury items as a form of currency, and they think about their collections dynamically, as a way to trade for other items that they want,” said eBay.
 
Of those surveyed, 62 percent said they have sold items in their collections for more than the original purchase price.
 
EBay also shared some insight on what its shoppers are buying.
 
In 2021, eBay sold eight fine jewelry items in the US and Canada every minute.
 
Cartier, David Yurman, Gucci, Swarovski, and Tiffany & Co are the top selling brands in the US and Canada this year.
 
As for popular styles, sales of the Chanel “Coco Crush” ring, the David Yurman “Cable Spira” bracelet, the Gucci Interlocking G bracelet, and the Mikimoto cultured pearl bracelet are up triple digits year-over-year this year in the U.S. and Canada.
 
EBay is also a major watch seller with eight watches purchased in the U.S. every minute in 2021.
 
Hamilton, Omega, Seiko, TAG Heuer, and Tissot are this year’s top-selling watch brands in the U.S. and Canada.
 
Sales of the Omega Speedmaster and the Rolex Oyster Perpetual Explorer were up triple digits year-over-year in the U.S. and Canada this year.
 

The Latest

Lightbox x Roséate Light Wand pendants
Lab-GrownDec 01, 2023
Lightbox Teams Up With Brand Founded by Former Tiffany Exec

The lab-grown diamond brand also collaborated with the website The Future Rocks on a collection launching today.

Lila Moss Calvin Klein campaign
FinancialsDec 01, 2023
Movado Lowers Guidance Again After Q3 Sales Dip

The company said it is facing a “challenging retail environment” but is prepared for the holiday season.

Muzo emerald and argyle pink diamond necklace
CollectionsDec 01, 2023
Piece of the Week: Muzo’s Emerald and Argyle Pink Diamond Necklace

It’s the hero piece of the newest "Green Jewel" collection, a collaborative offering from the two mines.

Platinum  Guild International Diamond Rings
Brought to you by
If It’s Custom, Make It Platinum

With holiday proposals right around the corner, encourage your customers to go for platinum when making the big purchase.

Pink Supreme Diamond
AuctionsNov 30, 2023
This Pink Diamond Reigned Supreme in Hong Kong

The 15.48-carat fancy intense “Pink Supreme” topped Christie’s fall jewelry auction in Asia, while a Patek Philippe led the watch sale.

Weekly QuizNov 30, 2023
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
133 carat yellow diamond
AuctionsNov 30, 2023
Sotheby’s To Auction 133-Carat Yellow Diamond

The stone headlining the upcoming sale could fetch up to $5 million.

Kwiat diamonds
IndependentsNov 30, 2023
Frank Adams Rolls Out Kwiat’s ‘Mine to Shine’ Program

The retail offering lets customers track their diamond’s journey.

IGI-BTYB-103023.jpg
Brought to you by
Did You Know? The Vital Role of IGI: The International Gemological Institute

In a world where the sparkle of a gemstone is only as brilliant as the trust behind it, IGI's purpose is truly invaluable.

Diamond development hub in Angola
SourcingNov 29, 2023
Largest New Diamond Mine of the Decade Coming Online in Angola

The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.

Holiday shoppers holding bags
SurveysNov 29, 2023
Holiday Shoppers Broke a Record This Weekend, Says NRF

From Thanksgiving through Cyber Monday, 200.4 million consumers shopped online and in stores.

20180509_Buffett-header.jpg
EditorsNov 29, 2023
Warren Buffett on Success, Mistakes and Betting on America

The best quotes from the Oracle of Omaha and his right-hand man Charlie Munger from the 2018 Berkshire Hathaway shareholders meeting.

J. Dostie Jewelers
IndependentsNov 28, 2023
Maine Jeweler to Relocate After 76 Years

J. Dostie Jewelers will move from Lewiston to Yarmouth this spring.

Finks Jewelers new store
IndependentsNov 28, 2023
Fink’s Jewelers Opens 10th Store

It’s the company’s second location in Tennessee.

Mary Tyler Moore and a pair of Elsa Peretti Bone Cuffs
AuctionsNov 28, 2023
Mary Tyler Moore’s Jewelry Is Up For Auction

You can have this jewelry, why don’t you take it?

Original Miami Beach Antique Show 2024
Events & AwardsNov 28, 2023
The Original Miami Beach Antique Show Is Celebrating 60 Years

Next year’s milestone show will be full of educational programming and collaborations.

De Beers Metamorphosis high jewelry earrings
EditorsNov 27, 2023
10 Tips for Selling Diamonds This Holiday Season

Sales experts and a diamantaire share their best advice on how to send customers home with diamond jewelry.

Platinum Born new collection
CollectionsNov 27, 2023
See the New ‘Platinum Born’ Jewelry

The brand has released five new collections.

Frank Adams Jewelers
IndependentsNov 27, 2023
Frank Adams Jewelers Named ‘Family Business of the Year’

The Albany Business Review recently honored the 100-year-old company.

GIA Dr. John W. Valley
GradingNov 27, 2023
Dr. John W. Valley Retires from GIA Board of Governors

To honor his legacy, GIA has set up a scholarship in his name.

Stock image of police car with its lights on
CrimeNov 22, 2023
JSA Warns of Surge in Attacks on Jewelers on the Road

There have been eight attacks in the last month, spanning from a jewelry store parking lot in Rhode Island to highways in California.

Buddha Mama citrine bangle
TrendsNov 22, 2023
Amanda’s Style File: November Glow

These 15 pieces of jewelry celebrate November babies and the hues of citrine and topaz that reflect the colors of the season.

Columbia Gem House fundraiser
SourcingNov 22, 2023
Columbia Gem House Raises $12K for Wildlife

The money will help a nonprofit rehabilitate sea turtles.

Facet Barcelona factory opening
MajorsNov 22, 2023
Facet Barcelona Opens New Factory in Spain

The jewelry manufacturer said it can now better serve the North American market.

David Yurman holiday campaign
TechnologyNov 21, 2023
See David Yurman’s New High-Tech Holiday Campaign

The jewelry brand takes viewers through a virtual winter wonderland set in New York City.

2023 Rock the Jewels Awards winners
Events & AwardsNov 21, 2023
Here Are the Winners of BIJC’s Inaugural ‘Rock the Jewels’ Awards

The organization recognized outstanding industry players at its celebratory event.

Rough diamonds from De Beers Gahcho Kue mine
SourcingNov 21, 2023
De Beers’ Rough Diamond Sales Sink to $80M

India’s voluntary moratorium on rough diamond imports coupled with a stunted recovery in China continue to impact the miner.

Smart Age Solutions founder and CEO Emmanuel Raheb
ColumnistsNov 21, 2023
The Smart Lab: Score Big During Football Season With Hulu Advertising

Emmanuel Raheb outlines three reasons why Hulu advertising and football can be a game changer for your jewelry store’s marketing.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy