eBay Launches New Authenticity Guarantee For Luxury Watches
eBay launched “Authenticity Guarantee,” a new post-sale authentication service for all watches sold for $2,000 or more in the U.S.
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This new service offers meticulous inspection and verification by independent experts, which provides an extra layer of trust and confidence for shoppers browsing the nearly eighty thousand new, pre-owned and vintage watches marked with the Authenticity Guarantee badge on eBay.com/LuxuryWatches.
eBay is also announcing new features and experiences, including escrow payment on watches sold for $10,000 or more and unveiling “eBay Channels,” a new app experience.
Additionally, the marketplace is cutting seller fees as much as 35% for active managed payments sellers on watches sold over $1,000 and offering a 30% discount off final value fees for registered managed payment sellers on watches sold over $2,000.
“eBay’s Authenticity Guarantee verifies the authenticity of the watch and confirms the watch is exactly as described in the listing,” said James Hendy, General Manager of Authentication at eBay.
“Leveraging a team of independent experts, eBay’s Authenticity Guarantee checks all watches sold for $2,000 or more in detail, with a multi-point inspection. Our number one goal is to bring more trust to our marketplace for our entire eBay community, making sure no one receives a fake watch,” added Hendy.
All watches verified as authentic come with an Authenticity Guarantee card detailing information such as the brand, model, reference number, movement type, case material, bracelet type, and serial number, as applicable.
Trusted Third-Party Authentication Partners: eBay has partnered with leading industry experts whose services and capabilities have been thoroughly vetted.
The independent authentication partners are leaders in their industry, brand certified watchmakers and technicians with years of experience using advanced technical equipment in a state-of-the-art facility.
Enhanced Seller Protections: eBay continuously adds more protections for our community of sellers.
With this new service, not only is the marketplace attracting more buyers for our seller community, but with intermediated returns, with the additional step of third-party experts physically verifying each item during the return process, sellers can sell with confidence with peace of mind that in the case their watch is returned, it will arrive back in the same condition.
New and Enhanced Luxury Watch Experience
Additionally, eBay announced a new features to deliver a more personalized and innovative shopping experience for watch buyers and sellers. eBay is adding the following enhancements, fundamentally changing the luxury watch experience.
Escrow Payment: eBay is introducing escrow payment for high value watches to elevate the purchasing process for its buyer and seller communities.
In partnership with Escrow.com, the most licensed online escrow company, the new escrow payment experience provides an additional layer of trust when buying and selling luxury watches by ensuring the entire experience proceeds safely and securely for both parties.
The buyer is protected as they have the opportunity to inspect the item before payment is released, while the seller is protected by being able to track the transaction at every stage, ensuring payment is received.
The feature will begin rolling out in the fall and will be available on all eligible listings from all U.S. sellers by the end of the year.
Here’s how it works:
- Together with Escrow.com, buyers will pay using escrow services on watches sold for $10,000 or more on eBay.
- Escrow.com facilitates transactions by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met. The buyer will have seven days to inspect and examine the watch, before accepting the item. Once accepted, or if the seven-day inspection period has passed, returns will not be available.
- For sellers, there is no risk of charge-backs or escrow processing fees.
- eBay Channels: Users can now enjoy eBay Channels, a new content-led experience on the latest versions of eBay’s iOS and Android apps. The experience, targeted to luxury watch enthusiasts, connects them with inspiration from the luxury watch world and eBay’s incredible selection. The new experience’s feed includes relevant articles, curated inventory, and spotlights top sellers in the field. All of this will provide the chance for collectors to have an immersive journey in the areas they love and to engage with the best that our marketplace has to offer.
- Reduced Seller Fees: Beginning Sept. 9, eBay is announcing a reduction in seller fees for certain sellers in luxury watches, boosting its wide selection of luxury watches and fine timepieces for the marketplace’s millions of shoppers. For sellers who are active in managed payments, the marketplace is lowering final value fees in the Watches category for watches sold over $1,000. Managed payment sellers can save up to 35% in final value fees as compared to the final value fees they previously paid.
Sellers who sign-up for managed payments, but are not yet active, qualify for a 30% discount on final value fees on watches sold over $2,000.
The reduction applies to auction and fixed price listings on the U.S. site.
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.