Luxury watches on eBay continue to grow at double digit rates. If you’ve considered buying your next watch online, the marketplace made it a little more enticing: Being one of the world’s largest luxury watch marketplaces, eBay has launched “Authenticity Guarantee,” a post-sale authentication service for watches sold for $2,000 or more in the U.S.
“No one wants to be on the wrong end of a fraudulent transaction, but this is where the eBay Authenticity Guarantee service has really shined.”Isaac Montaine
In partnership with eBay, WatchTime reached out to Isaac Montaine, VP Product & SEO at Jomashop.com to talk about watches, and how Jomashop benefits from eBay and Authenticity Guarantee:
How did Jomashop.com start selling watches?
We started selling watches in our small Manhattan office in 1987. We originally were selling collectible crystal figurines and eventually found a great niche in watches. Customers loved our watches, and so we slowly built up our brand, inventory and trust to where we are today.
Can you roughly quantify how many watches you’ve sold through eBay since joining the platform?
We are proud to say that we have sold over half a million timepieces on eBay.
What was the most expensive watch?
A rare Rolex Chronograph, which had a retail price of over $80,000; it was a beautiful piece with a baby blue dial and a black bezel.
What are your customers currently looking for?
Right now, we have a strong tendency towards sporty watches from Tudor, Audemars Piguet, Omega and Rolex.
What is the biggest advantage for you to also sell watches via eBay?
eBay has made it easy to engage with new customers, and get our newest products online and in front of the right people as quickly as possible.
What was the most exciting moment you had on eBay?
I remember the first time eBay featured our listing on their homepage and we sold over 5,000 [pieces] of the same entry-level watch. I believe it was a Seiko 5 canvas strap model. Selling them was the easy part. Packing a single model to 5,000 customers was all-hands on-deck.
What was your biggest challenge when selling watches online?
I think there were two challenges that we faced over the years. Firstly, our store only sells items that are new and unworn, and eBay had a reputation of selling used/pre-owned; thankfully eBay has been doing a good job educating their customers that they are a platform that sells new inventory too. Secondly, we were always nervous about shipping out high-end items to customers. No one wants to be on the wrong end of a fraudulent transaction, but this is where the eBay Authenticity Guarantee service has really shined.
Could you tell us a bit more about how you and your customers benefit from eBay’s Authenticity Guarantee?
The Authenticity Guarantee service has really solidified trust with our customers and allowed our business to continue to succeed in a competitive environment. Sometimes it surprises customers that it will take a couple of extra days to get their item, but this is a non-issue after they learn about the benefits of the Authenticity Guarantee service.
How does the process look for you, when you list a watch?
Actually, this process is seamless. From the seller’s perspective it doesn’t affect us at all. When an item is sold, we simply ship the item to the authentication center instead of directly to the customer.
Any advice for collectors?
There is so much to offer in the watch world. I wish clients would be a bit more adventurous with trying newer, more unique pieces that we offer in our store.
Authenticity Guarantee is not affiliated with or endorsed by any of the brands sold on eBay.