Luxury watch brands such as Perrelet Chronographe are available through eBay's Certified by Brand ... [+]
By inviting brands and retailers to partner with eBay on scaling their resale efforts, eBay’s new Certified by Brand platform provides shoppers with access to an expanded selection of authentic luxury jewelry, watches, and handbags that are brand-backed. Given that eBay has 133 million active buyers across 190 markets, Certified by Brand seems designed to propel the global evolution of online luxury resale into a zone of enhanced trust and deeper customer service. In an email interview with this writer, Tirath Kamdar, Global GM of Luxury at eBay, explained, “Participating brands are now able to tap into eBay’s unparalleled reach and offer their inventory in a trusted way to a much larger audience than ever possible before.”
The new program will include inventory from brands like Lika Behar Collection, Alberto Milani, Judith Ripka, ALOR, Roman + Jules and Le Vian. As for watchmakers, legendary luxury Swiss watchmaker and manufacturer Vianney Halter is on board, as is Perrelet SA, a luxury watch company founded in 1777 by Abraham-Louis Perrelet, who invented the automatic watch. Other watch brands with inventory in the program include high end luxury watchmaker Konstantin Chaykin plus 4th generation watchmaker RPaige, and well-known dive watchmaker Zodiac watches. As Vianney Halter said in an eBay press release, “As a long-time customer of eBay, I have always valued discovering remarkable pieces among the platform's breadth of inventory. I am pleased to be partnering with eBay to bring a selection of extraordinary watches to their customer base.”
As Kamdar detailed to this writer, “The program is currently available to buyers located in the US, but additional brands and authorized sellers are slated to join up throughout 2023, with plans for expansion to other markets later this year.” Listings within the Certified by Brand program will include either “Direct from Brand” or “Brand Authorized Seller” badging. This enables buyers to easily identify listings in the program, just as eBay’s Authenticity Guarantee check mark helps distinguish inventory. With this new program, buyers now have multiple ways to shop authentic luxury goods on eBay.com, with listings identified by differentiated badging.
22-karat gold jewelry from the Lika Behar Collection makes a statement on eBay's Certified by Brand ... [+]
Under the Direct from Brand badge, listings consist of new or pre-owned inventory and come either straight from the brand’s manufacturer— or have been previously authenticated by the brand. In the “Brand-Authorized Seller” realm, the listing is either new or pre-owned inventory from a seller who’s been authorized by the brand. All watch brands come with a minimum one-year warranty, and jewelry and handbag items include a certificate of authenticity with purchase.
According to Bain and Company’s 2023 report, “Renaissance in Uncertainty: Luxury Builds on Its Rebound”, the secondary market for premium and luxury goods grew markedly in 2022, powered by consumer collectors and so-called “passion investments” in jewelry, prestige watches, handbags, sneakers and other luxury goods. As luxury brands continue penetrating deeper into the resale market, Certified by Brand will provide brands and brand-authorized sellers access to the platform’s massive buyer base, plus valuable consumer insight information from eBay’s global network of buyers.
“Across Germany, the UK, and the US, which are eBay’s three largest markets, average daily fixed price live listings grew by double digits as of March 2023 compared to the same period in the prior year,” Kamdar noted. “Globally, luxury focus categories such as watches, handbags, jewelry and sneakers have had roughly double digit annualized growth on eBay since Q4 2019.”
With Certified by Brand, he continued, “Brands will be able to influence pricing of their inventory within the secondary market. Brands as well as brand-authorized sellers will gain access to various eBay platform channels that will help control their brand equity and image, and importantly, amplify their own messaging to help drive growth and move inventory.”
On the company’s decision to join Certified by Brand, ALOR Principal Ori Zemer explained, “ALOR is always looking for new ways to expose our collection digitally to a new group of ALOR Lovers. By partnering with eBay on their Certified by Brand program, we are able to give new and current ALOR Lovers peace of mind that they will be receiving authentic product when purchasing ALOR on eBay.”
Customers can shop Roman + Jules designs that have been certified by the brand on eBay.
Millenials and Gen Z individuals are documented as driving sales of online products such as luxury watches and jewelry, and as Kamdar noted, “Watches are a versatile accessory with an evolving community of impassioned aficionados, collectors and fashionistas alike. In eBay’s three largest markets, female Gen Z purchases of luxury watches were up double digits in 2022 compared to 2021.”
What’s more, Kamdar continued, “Our second annual Recommerce Report illustrated the rising consumer shifts in the pre-owned space and pointed to data that showed those shifts are being led by the youngest consumers. Among sellers, Gen Z makes up the largest generational category of new sellers at 32%, followed by 16% of Millennials who began selling secondhand goods in the past year.”
While much authoritative research shows that E-commerce sites have thus far been unable to drive the same level of upsell opportunities as physical retailers, it also indicates that most luxury consumers spend less overall per purchase when buying online. When this writer asked Kamdar whether Certified by Brand will encourage consumers of pre-owned luxury watches, jewelry and handbags to spend more online, he replied, “Brick and mortar resale and online platforms have never been apples to apples. Interestingly, we’ve found that when shoppers come to our marketplace, they tend to look around – it’s a fascinating phenomenon we’ve dubbed the ‘eBay multiplier effect’.”
By partnering with eBay on their Certified by Brand program, ALOR provides its assurance that they ... [+]
Kamdar explained this effect thusly: “The average buyer who purchased a $2K+ watch spent approximately $5K on watches and $5K on more than 50 items in other categories. A seamless experience,” he continued, “is paramount to us and to that end, we’re always listening to, and engaging with, our communities of enthusiast buyers and valued sellers. We continue to invest in enhancements, like Certified by Brand, to provide the best experience for our buyers and sellers.”
Kamdar attested to experiencing the eBay multiplier effect himself. “I buy products across many luxury categories on eBay. Watches are one of my favorites,” he confessed, “but I also search for unique jewelry finds on the marketplace.” A longtime watch collector, Kamdar claimed that, “My recent favorite is the Zenith Defy that I bought on eBay. Putting a great watch on gives you a hit of dopamine. When I choose to buy a watch it’s not just about a brand name, it’s the stories I get to tell and the connection I feel to the brand.”
With nearly 28 years growing its online marketplace, eBay Certified by Brand is the latest among many services that establishes an added layer of trust and confidence within the site’s vast selection of luxury goods and its sellers. For example, Kandar noted, “eBay offers the Authenticity Guarantee for watches, sneakers, trading cards, jewelry, handbags and wallets. We also offer expert verification in the US for watches, wherein anyone purchasing a watch on eBay that is priced between $1-$2K can opt-in to have their item verified by an expert and undergo eBay’s authentication process for a cost of $80.”
Fine jewels from Diana M. and other luxury designers are coming soon to eBay's Certified by Brand ... [+]
With Authenticity Guarantee, all items undergo a multi-point physical inspection, verifying authenticity. “Once an item is verified as authentic,” Kamdar continued, “the customer is assigned a card that contains a digital record of the item. The card allows the shopper to learn more about their item and its unique authentication journey, reaffirming confidence in collectability and resale value.”
Programs like Authenticity Guarantee, Kamdar claimed, “have had significant impact since the service was first introduced, and luxury focus categories have had roughly double-digit annualized growth since Q4 2019. Certified by Brand, he said, “signals eBay’s continued dedication to bolster confidence in its shopping experience for high-passion and high value-products for brands, retailers and buyers alike.”
