Back in 2020, eBay, one of the largest online marketplaces, and, consequently, also one of the largest luxury watch marketplaces in the world, successfully introduced “Authenticity Guarantee,” a post-sale authentication service for watches sold for $2,000 or more in the U.S. (additional regions, like Germany and the U.K., have been added since then). In a nutshell, all watches on the platform that match the criteria are marked with the blue Authenticity Guarantee badge. Sold watches are then shipped by the seller to eBay’s third-party authentication partners Stoll & Co.. There, each watch is verified through a multi-point inspection and equipped with an NFC-enabled card, detailing a digital record of the items and proof of authentication. After that, the authenticator ships the authenticated watch to the buyer via three-day, signature-required delivery.
WatchTime, in partnership with eBay, reached out to a variety of watch enthusiasts to illustrate how this “extra level of trust” has changed the way they collect, sell and buy watches:
- How a collector found and bought his grail watch on eBay
- How a large online-retailer like Jomashop is benefiting from the platform
- How a watch enthusiast streamlined his collection with eBay
- How a lucky collector accidentally found a rare watch
“Luxury shoppers want peace of mind that their high-value purchase is authentic. eBay’s expanding Authenticity Guarantee service offers a multi-point physical authentication for luxury watches by a team of independent experts, and has been crucial in delivering that trusted experience for watch enthusiasts and those shopping pre-owned luxury goods.”Tirath Kamdar, GM of Luxury at eBay
In addition to the “Authenticity Guarantee,” eBay has introduced escrow payment for high value watches ($10,000 or more) to elevate the purchasing process for its buyer and seller communities (in partnership with Escrow.com, the largest online escrow company). This payment option allows buyers and sellers added confidence, holding funds securely until the transaction is complete providing an additional level of protection that benefits both parties in the transaction process.
On top of that, eBay recently implemented an opt-in service for expert verification that allows buyers to tailor their purchase experience by selecting an additional layer of protection for a cost of $80 plus tax:
- Anyone purchasing a watch on eBay that costs between $1,000-$2,000 can opt-in at checkout to have their watch fully inspected by [independent] experts before they receive it with an expert verification service.
- If a buyer opts into this service, their watch will go to our authentication partner where it will go through our Authenticity Guarantee process. This means that the watch is verified industry experts conduct a rigorous multi-point inspection to verify that the watch is authentic and that the watch, accessories and packaging are all as described.
On average, there are over 150,000 daily live listings for luxury watches, and every eight seconds, a watch is sold on eBay, with the most expensive luxury watch sale on eBay in 2021 having been a Patek Phillipe which sold for $230,000.
Follow this link to learn more about eBay’s “Authenticity Guarantee,” a post-sale authentication service for watches sold for $2,000 or more in the U.S.
Authenticity Guarantee is not affiliated with or endorsed by any of the brands sold on eBay.