TechnologyMay 04, 2023
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EBay Is Diving Deeper Into the Pre-Owned Pool
The tech company is launching a consignment service for sellers of luxury fashion goods, starting with handbags.
Gucci and Saint Laurent are among the handbag brands eBay is accepting for its new consignment service. The service will expand to include jewelry and watches in 2024, the company said. (Photo courtesy of eBay)
San Jose, Calif.—EBay announced this week it is launching a consignment service for users looking to sell luxury items on the site.
While the initial launch is limited to designer handbags, the service will expand to include jewelry and watches as well as other luxury categories next year, the company noted in a news release.
“Our top priority is to respond to the ever-evolving needs of our customers, and continuously delight luxury shoppers and sellers,” said Tirath Kamdar, global general manager of luxury at eBay and co-founder and former CEO of TrueFacet.
The move better positions the company to compete with sites like The RealReal and follows the company’s experiment with a pre-owned luxury pop-up last November in New York City’s Diamond District.
The introduction of a consignment service comes on the heels of several other moves the tech company has made to bolster its reputation and make it more competitive in the global, multibillion-dollar market for pre-owned luxury goods.
The company introduced “eBay Authenticate” for luxury handbags in 2017 and expanded the service to jewelry in 2018.
In 2020, it came out with its “Authenticity Guarantee.”
It expanded the guarantee to jewelry last year, partnering with the Gemological Institute of America for the service, which, it said, covers more inventory than eBay Authenticate and is free to both buyers and sellers.
Earlier this year, eBay introduced “Certified by Brand.” Brands and authorized sellers participating in the program get a “Direct from Brand” or “Brand Authorized Seller” badge on their listings.
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While the initial launch is limited to designer handbags, the service will expand to include jewelry and watches as well as other luxury categories next year, the company noted in a news release.
“Our top priority is to respond to the ever-evolving needs of our customers, and continuously delight luxury shoppers and sellers,” said Tirath Kamdar, global general manager of luxury at eBay and co-founder and former CEO of TrueFacet.
The move better positions the company to compete with sites like The RealReal and follows the company’s experiment with a pre-owned luxury pop-up last November in New York City’s Diamond District.
The introduction of a consignment service comes on the heels of several other moves the tech company has made to bolster its reputation and make it more competitive in the global, multibillion-dollar market for pre-owned luxury goods.
The company introduced “eBay Authenticate” for luxury handbags in 2017 and expanded the service to jewelry in 2018.
In 2020, it came out with its “Authenticity Guarantee.”
It expanded the guarantee to jewelry last year, partnering with the Gemological Institute of America for the service, which, it said, covers more inventory than eBay Authenticate and is free to both buyers and sellers.
Earlier this year, eBay introduced “Certified by Brand.” Brands and authorized sellers participating in the program get a “Direct from Brand” or “Brand Authorized Seller” badge on their listings.
EBay said longtime seller Linda Lightman, founder of Linda’s Stuff, will be its partner for the launch of the consignment service for luxury handbags.
According to the company, users who want to consign an item have to fill out an intake form. Once submitted, they will receive an insured, pre-paid shipping label.
Ebay and the consignment partner for that category will photograph, price, and list the item.
If it sells, the consignor will receive a percentage of the sale, which is based on the sale price.
The service is available for new or pre-owned purses.
There is no minimum or maximum price point, but the service is limited to a total of 33 brands, high-end names like Balenciaga, Chanel, Fendi, Goyard, Gucci, Hermès, Louis Vuitton, Saint Laurent, and Versace.
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