eBay expanded its authentication service to a fifth category – jewelry, joining authentication services offered in its sneakers, watches, handbags, and trading cards categories. (Be sure to see update below – eBay is raising fees in the jewelry category, it told sellers today.)
The move comes as eBay zeroes in on its “focus category” strategy (aka vertical strategy) in a move it says comes from its “innovation playbook.”
It’s also part of eBay’s strategy to focus on “high value” buyers. It may come as a surprise to eBay customers to learn eBay has a General Manager of Luxury, Tirath Kamdar, who said in today’s announcement: “As we continue to listen to our community of luxury enthusiasts in order to foster an even more trusted shopping and selling environment, expanding Authenticity Guarantee to jewelry was a crucial next step for our luxury business.”
With the jewelry authentication service, shoppers can now visit eBay.com/authenticjewelry to browse and buy from a selection of new and pre-owned fine jewelry marked with an Authenticity Guarantee badge.
The service is offered in collaboration with GIA, the Gemological Institute of America, and applies to eligible new and pre-owned fine jewelry sold for $500 or more.
eBay said it has authenticated over two million items across since introducing Authenticity Guarantee in 2020, and in the next two years, it expects the program to surpass five million items. “The addition of fine jewelry to eBay’s Authenticity Guarantee service builds upon the existing assortment of luxury goods available on the marketplace backed by the authentication service, underpinning its growth as a top luxury destination,” eBay said in Wednesday’s announcement.
“By the end of 2022, jewelry authentication will roll out to all eligible listings and identified brands on the platform, making it easier and more trusted than ever to browse and buy fine jewelry on the marketplace.”
Update 7/20/2022: eBay had a different message for sellers – it’s requiring them to use the authentication service for items that sell for $500 or more in the Fine Jewelry and Engagement and Wedding Jewelry categories – and it’s raising selling fees September 12, 2022, in the Jewelry & Watches category.
Ooh la la! How fancy! People always think of eBay whenever they are in the mood to shop for high end jewelries.
I don’t sell in the categories that currently have authentication and have a couple of specific questions for those who do:
1. If you list a BIN item below the threshold (lots of Tiffany jewelry sells for less than $500), does the luxury change affect your sale at all?
2. I don’t list expensive jewelry on ebay now because I don’t want to risk losing revenue to scammers. It sounds like false SNAD claims would be harder with this in place, but I assume that other favorites like returning an empty box or claiming nonreceipt would be as popular as ever. Can anyone speak to this from experience with existing “lux” categories?
Any info would be appreciated.
the thing is ALL jewelry now sold will have higher fees when only a very small % actually qualifies as needing this new verification process. It is easy to predict all eBay fees will soon be 15%