It’s been 12 months since eBay launched its Authenticity Guarantee programme in the UK, and it has proven to be a big hit for the online giant.
Offering detailed inspection and verification by independent experts, the Authenticity Guarantee is designed to provide an extra layer of confidence for shoppers browsing watches on the site.
This increased buyer confidence helps boost sales conversion for those individuals and companies that choose to list via the eBay platform, plus the process protects these sellers with verified returns.
Aside from the benefits Authenticity Guarantee brings, listing on eBay allows access to a different and vast customer base, with data showing that 85% of eBay buyers start and finish their shopping journey on eBay and more than half of UK internet users use eBay.
“Year one of Authenticity Guarantee on eBay.co.uk has been very successful, surpassing our own expectations,” says Keith Metcalfe, head of lifestyle and luxury, eBay UK.
“The programme has driven traffic and conversion through 2022, resulting in higher luxury watch sales than we’ve ever seen before and seller and listing numbers consistently stepping up every single week this year.”
After such a successful launch year, Mr Metcalfe and his team in the UK have no plans to slow down, citing eBay in the USA as an blueprint for what the next steps may be.
“eBay US are the trailblazers behind our Authenticity Guarantee programme and we aim to bring everything that works over there to our UK customers,” Mr Metcalfe says.
“For example, eBay US has recently launched an optional Authenticity Guarantee service, for watches sold for less than $2000 (involving an $80 fee) as well as, very excitingly, partnering with the GIA on Authenticity Guarantee for jewellery.”
But it’s the here and now that’s most important to eBay’s legion of customers. How are buyers and sellers reacting to the sensational price rises and, more recently, cooling in the pre-owned luxury watch market?
“It’s undeniable that 2022 has been a volatile year for markets and trends in the wider secondary watch market have been a reflection of multiple macro factors,” Mr Metcalfe explains.
“It’s become more important than ever for our customers to protect their investments and the introduction of Authenticity Guarantee has provided the security needed to trade in an uncertain environment.”
“It’s no secret that watch prices are stabilising and people are buying; now is the time to make an offer,” he continues.
“Of the 10,000+ watches listed on eBay.co.uk with Authenticity Guaranteed, nearly 7,000 are set up with the ‘Make offer’ button, giving you the opportunity to purchase your desired item for less,” he advises.
