EBay wants to be a bigger player in luxury resale.
The global e-commerce marketplace on Thursday launched the “Certified by Brand” program providing brands and brand-authorized sellers access to both the platform’s millions of active buyers as well as rich consumer insights.
The news comes a day after eBay reported better-than-expected first-quarter results with revenue reaching $2.5 billion.
“Certified inventory in the resale market is an undeniable opportunity for brands and authorized retailers and eBay is the ideal partner for those looking to scale,” Tirath Kamdar, global GM of luxury at eBay, said. “EBay’s Certified by Brand program broadens access to both buyers and brands to shop and sell luxury goods with confidence and certainty.”
The Certified by Brand program partners directly with brands to scale their presence in the secondhand market while also giving shoppers more luxury inventory to bid on. The program offers new, certified preowned, limited edition or exclusive “only on eBay” inventory, including watches, handbags and fine jewelry from luxury brands. Listings will either have “direct from brand” or “brand authorized seller” badges and information on Certified by Brand within each item, similar to how eBay’s Authenticity Guarantee check mark distinguishes inventory, so buyers understand where they’re getting their goods. However, the Certified by Brand inventory doesn’t qualify for eBay’s Authenticity Guarantee service.
“As a long-time customer of eBay, I have always valued discovering remarkable pieces among the platform’s breadth of inventory,” watchmaker Vianney Halter said. “I am pleased to be partnering with eBay to bring a selection of extraordinary watches to their customer base.”
Certified by Brand partners can use eBay’s consumer data to inform their secondhand inventory pricing. Brands and brand-authorized sellers can also control their brand equity and image with access to various eBay platform channels.
Handbags will include a certificate of authenticity with purchase, though where it will be coming from is unclear. Participating brands are entirely comprised of jewelry and watch companies thus far, with the exception of Dooney & Bourke. Certified by Brand is currently available for U.S. brands and consumers. Brands and authorized sellers will continue rolling out in the coming weeks, with more slated to join the program over the next year amid plans to expand into other markets.
Ebay‘s new program arrives as the secondary market for luxury goods reached an estimated value of $242.8 billion last year and is on track to reach $369.8 billion by 2030, according to Research and Markets.
Luxury brands are being pulled deeper into the resale space and working with partners to exploit their platforms while holding off on operating their own secondhand sites for now.
Ebay has been investing in the luxury space to counter rivals including Vestiaire Collective, What Goes Around Comes Around, Rebag, and The RealReal.
In Australia, it partnered with “Luxe It Fwd” to open the Luxury Exchange, a drop-off handbag store in Sydney that drives awareness of the Authenticity Guarantee program and showcases the ease of listing luxury items on eBay.