You Can Now Buy and Sell Luxury Watches and Jewelry on eBay’s Consignment Service
eBay is continuing to make inroads into the luxury industry.
The website on Tuesday expanded its consignment service to include high-end watches, jewelry, 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 jewelry; and Breguet, Girard-Perregaux, and Jaeger-LeCoultre for timepieces.
More from Robb Report
Luxury Sneaker Company Golden Goose Is Planning to Go Public at a Valuation of Over $3 Billion
This Mouawad Diamond Ring Could Fetch Nearly $2 Million at Auction
eBay’s consignment program 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 $5,000 or more, for example, the seller receives 80 percent.
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 percent.
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 programs 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 percent 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 like the RealReal, the e-tailer might be breaking out as the next big luxury marketplace, especially when it comes to pre-owned pieces.
Best of Robb Report
Sign up for Robb Report's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.