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Certified by Brand: eBay’s Answer for Certified Pre-Owned
News
Certified by Brand: eBay’s Answer for Certified Pre-Owned
The Bain & Co study focusing specifically on the watches category affirms that watches have evolved from a challenged category to the new object of desire. Sales of new watches grew by 22%–24% and reached a record €52 billion, reflecting solid demand for top-of-the-range models and iconic pieces, but growth was capped by low product availability. Sales of secondhand watches, estimated at an additional €25–€30 billion, rapidly grew in 2022, fueled by the appetite of Generation Z and millennials for investment and resale opportunities, given the high resilience of the category during crises.
With an ever-growing spotlight on the secondary market from luxury buyers, brands have begun to take notice. Brands large and small, ranging from Rolex to MB&F to Vaer, have begun to launch their own internal certified pre-owned programs (CPO). In keeping with and contributing to this trend, eBay has taken a major leap forward in shaping this market.
In the world of pre-owned and vintage watches, specifically, there is an often-spoken adage that is generally regarded as the most fundamental piece of advice: buy the seller — that is to say, know who you are buying your watches from, and only buy watches from people you trust. In a corner of the industry where information can be scarce and mistakes costly, being able to rely on the expertise and advice of the seller – and the platform in which you are buying from – is fundamental.
With the creation of Certified by Brand, the very landscape of purchasing watches, and other luxury goods like handbags and jewelry, on eBay is about to change. Listings will include either “Direct from Brand” or “Brand Authorized Seller”, bringing even more clarity to would-be buyers. Curiously, items will be listed as both, fixed “buy it now” prices as well as eBay’s auction option. This will inevitably create an even broader dynamic for buyers and sellers alike.
Reassuring both buyers and sellers has, of course, been a key focus for eBay over the past few years. Beginning in 2020, eBay launched the Authenticity Guarantee program to evaluate and authenticate timepieces. Whereas in the past a watch would travel straight from seller to buyer, with only the description and provided photos as a guide, now there is a process, and multi-point inspection by professionally trained authentication experts, to give everyone peace of mind — buyer and seller alike. Watches over $2,000 that are sold via the online marketplace are sent to eBay’s third-party authentication partners Stoll & Co. who authenticate each timepiece.
These efforts speak to eBay’s continued dedication to bolster confidence in its shopping experience for high-passion and high value-products for brands, retailers and buyers alike.
With the addition of Certified by Brand, top luxury brands can now have a direct role in the way their products are represented in not only the primary, but also secondary market selling their inventory either directly or via authorized sellers. With over a dozen brands including independents like Konstantin Chaykin, Vianney Halter, and Perrelet, as well as more broad-market companies like Fossil Group’s Zodiac Watches, it’s a notable list of companies that is already starting to garner attention from the industry. If the trajectory of the past few years is any indication, these early adopters are just the first, but will certainly not be the last, to set up shop in the dynamic landscape of digital sales.