If you’ve considered buying your next watch online, eBay just made it a little more enticing. One of the world’s largest luxury watch marketplaces has launched its new “Authenticity Guarantee,” a post-sale authentication service for all watches sold for $2,000 or more in the U.S.
Offering meticulous inspection and verification by independent experts, eBay’s Authenticity Guarantee provides an extra layer of trust and confidence for shoppers browsing the nearly 80,000 new, pre-owned and vintage watches marked with the Authenticity Guarantee badge on eBay.com. Among its other new features and experiences, eBay now offers escrow payment on watches sold for $10,000 or more and has unveiled a new app experience called “eBay Channels.” Additionally, the online marketplace is cutting seller fees as much as 35% for active managed payments sellers on watches sold over $1,000 and offering a 30% discount off final value fees for registered managed payment sellers on watches sold over $2,000.
“For 25 years, watches have been one of the top-selling categories on eBay thanks to the marketplace’s unmatched selection of luxury goods,” said Tirath Kamdar, General Manager of Luxury at eBay. “We know trust is paramount among the watch community, and with Authenticity Guarantee and adding escrow services for watches, eBay has evolved to give watch customers exactly what they want – incredible selection with an added layer of confidence through authenticity verification by independent experts for their high-valued purchases.”
“eBay’s Authenticity Guarantee verifies the authenticity of the watch and confirms the watch is exactly as described in the listing,” added James Hendy, General Manager of Authentication at eBay. “Leveraging a team of independent experts, eBay’s Authenticity Guarantee checks all watches sold for $2,000 or more in detail, with a multi-point inspection. Our number one goal is to bring more trust to our marketplace for our entire eBay community, making sure no one receives a fake watch.”
Meet eBay Authenticity Guarantee
A longtime leader in the luxury watch market, eBay houses one of the largest inventories of new, vintage and pre-owned contemporary and fine watches in the world — from brands including Rolex, Patek Philippe, Omega, Audemars Piguet, Breitling and Panerai. Coupled with competitive pricing and no buyer fees, shoppers can find the exact watch they’re looking for at the price they want. Here’s an inside-look at the new service:
- Incredible Selection of Authenticity Guarantee Badged Items: Shoppers can browse luxury watches with the Authenticity Guarantee badge with confidence — knowing that after purchase, and before being shipped to the customer, these eligible timepieces are routed to a third-party authenticator for thorough assessment. Once verified, it is then shipped via expedited, two-day shipping from the authenticator facility to the customer with signature confirmation upon delivery. eBay covers the cost of authentication, as well as the two-day, secure shipping from the authenticator facility to the buyer.
- Multi-point Inspection and Authentication Card: Upon receiving the watch, the independent authenticator confirms the item is consistent with the listing title, description, and images, then performs a multi-point physical authentication inspection — assessing the crown, bezel, dial, case, clasp/buckle, hands, end links, and serial number. Finally, a security tag is attached to the watch.
All watches verified as authentic come with an Authenticity Guarantee card detailing information such as the brand, model, reference number, movement type, case material, bracelet type, and serial number, as applicable.
- Trusted Third-Party Authentication Partners: eBay has partnered with leading industry experts whose services and capabilities have been thoroughly vetted. The independent authentication partners are leaders in their industry, brand-certified watchmakers and technicians with years of experience using advanced technical equipment in a state-of-the-art facility.
- Enhanced Seller Protections: eBay continuously adds more protections for its community of sellers. With this new service, not only is the marketplace attracting more buyers for its seller community, but with intermediated returns. With the additional step of third-party experts physically verifying each item during the return process, sellers can sell with the peace of mind that in the event their watch is returned, it will arrive back in the same condition.
New and Enhanced Luxury Watch Experience
Fundamentally changing the luxury watch-buying experience, eBay is also adding the following enhancements to deliver a more personalized and innovative shopping experience for watch buyers and sellers:
- Escrow Payment: eBay is introducing escrow payment for high value watches to elevate the purchasing process for its buyer and seller communities. In partnership with Escrow.com, the most licensed online escrow company, this new payment experience provides an additional layer of trust when buying and selling luxury watches by ensuring the entire experience proceeds safely and securely for both parties. Buyers are protected, as they have the opportunity to inspect the item before payment is released, while sellers are protected by being able to track the transaction at every stage, ensuring payment is received. The feature will begin rolling out in the fall and will be available on all eligible listings from all U.S. sellers by the end of the year. Here’s how it works:
- Together with Escrow.com, buyers will pay using escrow services on watches sold for $10,000 or more on eBay.
- Escrow.com facilitates transactions by keeping the payment in a secure escrow account which is only released when all the terms of an agreement are met. The buyer will have seven days to inspect and examine the watch, before accepting the item. Once accepted, or if the seven-day inspection period has passed, returns will not be available.
- For sellers, there is no risk of charge-backs or escrow processing fees.
- eBay Channels: A new content-led experience on the latest versions of eBay’s iOS and Android apps, eBay Channels are targeted to luxury watch enthusiasts, connecting them with inspiration from the luxury watch world and eBay’s vast selection. The new experience’s feed includes relevant articles and curated inventory, and spotlights top sellers in the field. All of this allows collectors to take an immersive journey into the areas they love and to discover the best the marketplace has to offer.
- Reduced Seller Fees: Beginning in September 2020, eBay has reduced seller fees for certain sellers of luxury watches, boosting its wide selection of fine timepieces for the marketplace’s millions of shoppers. For sellers who are active in managed payments, eBay is lowering final value fees in the Watches category for watches sold over $1,000. Managed payment sellers can save up to 35% in final value fees as compared to the final value fees they previously paid. Sellers who sign up for managed payments, but are not yet active, qualify for a 30% discount on final value fees on watches sold over $2,000. The reduction applies to auction and fixed price listings on the U.S. site. Learn more at www.eBay.com/sellerupdate.
From the casual watch enthusiast to the avid timepiece collector, buyers and sellers can shop and sell with confidence. For more information on Authenticity Guarantee, visit www.eBay.com/buyauthentic and www.eBay.com/sellauthentic. To shop luxury watches, check out www.eBay.com/luxurywatches and follow @eBay on Instagram, Twitter, YouTube and Facebook.