Shoppers are invited to have their jewelry,
handbags, and watches appraised and exchanged for "closet currency"
to purchase authentic items from eBay's top luxury sellers
JOSE, Calif., Nov. 16,
2022 /PRNewswire/ -- Open during Jewelry Week in the
heart of New York's iconic
Diamond District, the eBay Luxury Exchange capitalizes on the
skyrocketing value of authenticated luxury items by letting
shoppers exchange jewelry, handbags and watches from top brands
like Gucci, Rolex, and Van Cleef
"It's never been easier for luxury enthusiasts to refine their
collections in a trusted environment, and we wanted to create an
IRL experience that reflects what's happening on eBay every day,"
said Tirath Kamdar, GM of Luxury at
eBay. "The Luxury Exchange gives shoppers an opportunity to
appraise and sell their valuable goods, and add something new to
their personal collections – just in time for the holiday
eBay's Luxury Exchange: How it Works
- Shoppers have their luxury items appraised and assigned a value
with which they can shop the store's inventory of designer watches,
handbags, and jewelry.
- Once shoppers find an item(s) within their "currency," they can
make the exchange and walk out of the store with their new luxury
- If nothing in the store catches a shopper's eye, guests can
visit the on-site photo studio and opt to list on eBay themselves
instead of exchanging.
The Luxury Exchange comes on the heels of the expansion of
Authenticity Guarantee to jewelry, a move that significantly
augments eBay's luxury offering. eBay launched Authenticity
Guarantee in 2020, and the program now includes sneakers, watches,
handbags, trading cards and now, fine jewelry. As a result, more
and more shoppers are turning to eBay to buy and sell their
collections. This behavior is reflected in the depth and quality of
inventory available on the marketplace.
The Rise of Resale: Luxury As
As economic uncertainty proliferates, interest in alternative
investment classes has continued to climb. According to "The Rise
of Resale: Luxury As Currency" – a new report from BoF Insights,
the data and analysis think tank from The Business of Fashion,
conducted in partnership with eBay – approximately 30% of U.S.
luxury shoppers surveyed believe the value of luxury handbags,
watches, and jewelry is less volatile than other investment assets
More than half of these shoppers see their luxury items as a
form of currency, and they think about their collections
dynamically, as a way to trade for other items that they want.
What's more, sixty-two percent of respondents report that they have
sold items from their collection for more than the original
"Everyone Deserves Real"
Physical authentication is the leading factor in convincing a
shopper to purchase a second hand luxury handbag, watch, and
jewelry on an online resale platform. eBay's commitment to
authenticity in the luxury category is further evidenced by its
upcoming brand campaign – "Everyone Deserves Real" – which
spotlights how the pervasiveness of 'fakery' in pop culture
contrasts with the very real world of eBay's authentication service
and its expert authenticators.
Luxury on eBay – By the
- In 2021, eight watches were purchased on eBay in the US every
- The most sold watch brands in 2022 are Hamilton, Omega, Seiko,
Tag Heuer, and Tissot in the US and Canada.
- Sales for trending styles like the Omega Speedmaster and Rolex
Oyster Perpetual Explorer are up triple digits YoY in the US and
Canada in 2022.
- In 2021, a handbag was purchased on eBay in the US and
Canada every 13 seconds.
- Chanel, Gucci, Louis Vuitton,
and Prada are 2022's top selling handbag brands in the US and
- Sales of styles like the Balenciaga Le Cagole and Chanel 22 are
up triple-digits YoY in the US and Canada in 2022.
- In 2021, eBay sold eight fine jewelry items in the US and
Canada every minute.
- Cartier, David Yurman, Gucci,
Swarovski, and Tiffany & Co are 2022's top selling brands in
the US and Canada.
- Sales of the Chanel Coco Crush Ring, David Yurman Cable Spira
Bracelet, Gucci Interlocking G Bracelet, and Mikimoto Cultured
Pearl Bracelet are up triple digits YoY in 2022 in the US and
eBay's Luxury Exchange – at 22 W. 47th Street, New York, NY – is open to the public from
Wednesday, November 16 through
Thursday, November 17, from
11am to 6pm.
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that
connects people and builds communities to create economic
opportunity for all. Our technology empowers millions of buyers and
sellers in more than 190 markets around the world, providing
everyone the opportunity to grow and thrive. Founded in 1995 in
San Jose, California, eBay is one
of the world's largest and most vibrant marketplaces for
discovering great value and unique selection. In 2021, eBay enabled
over $87 billion of gross merchandise
volume. For more information about the company and its global
portfolio of online brands, visit www.ebayinc.com.
1 Business of Fashion survey data
collection in the U.S. in October
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SOURCE eBay Inc.