eBay UK Launches Authenticity Guarantee Program For Luxury Watches
Following the success of the eBay Authenticity Guarantee in the US, eBay UK has now opened up its own authenticity guarantee program for luxury watches. You can see the full announcement from eBay below.
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eBay, one of the largest luxury watch marketplaces in the world, is expanding its “Authenticity Guarantee” service, with a new post-sale authentication service for luxury watches sold for £2,000 or more in the U.K.
Offering meticulous inspection and verification by independent experts, eBay’s Authenticity Guarantee provides an extra layer of trust and confidence for shoppers browsing watches on the site and comes as the interest in watches spikes.
The buying and reselling of vintage and pre-owned timepieces has become a key part of the luxury watch market with searches for watches on eBay.co.uk increasing by 31% over the last two years with one selling every 28 seconds on the platform last year.
From today, all wristwatches sold for over £2,000 on eBay UK across all brands, including the most popular players – Rolex, Omega, Tag Heuer, Breitling, Patek Phillipe, and Audemars Piguet, will go through the Authenticity Guarantee process.
The watches will be fully vetted and verified by global leaders in the industry, Stoll & Co. Established in 1982, Stoll & Co’s team of experienced and dedicated watchmakers and technicians operate advanced technical equipment in a new, state-of-the-art UK facility where they carry out a multi-point physical authentication inspection of the watches including the crown, bezel, dial, case, clasp/buckle, hands, end links, and reference number. They will also review any collateral that is sent alongside, including the watches’ inner and outer boxes, as well as the pillow on which the watch is presented.
“When it comes to purchasing luxury goods such as watches, confidence and trust is paramount for our customers. Our number one goal is to bring more trust to our marketplace for our entire eBay community which is why we are investing in authenticity guarantee for watches at no extra cost to the buyer or seller, so customers can buy or sell luxury watches with complete confidence and have the item delivered to their door within two days via secure delivery.”Kirsty Keoghan, Director of Luxury Goods, eBay UK
“Buying an expensive watch online can be a nerve-wracking experience, that’s why this process is of utmost importance to the second hand luxury watch market, giving customers the security of knowing that their purchase is 100% authentic. It’s the details within high end watches that make us tick, so we’re excited to bring our skills and expertise to the UK to help power eBay’s new Authenticity Guarantee for watches.”Graham Foster, Head Watchmaker, Stoll & Co
The announcement from eBay follows the success of the Authenticity Guarantee for sneakers in the UK earlier this year, where new and used sneakers from popular brands sold on the marketplace for £100 or more are similarly vetted and verified by an independent team of authenticators.
Expanding the Authentication Centre in the UK with more categories set to form part of the program, eBay is hoping to continue to drive growth in high-value categories, as a trusted marketplace for the resale of luxury and high-quality goods.
How Authenticity Guarantee For Watches Works
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. When a watch purchase is made, the seller ships it directly to the Authentication Centre for a comprehensive, multi-point inspection by UK authenticators. There are a number of key elements to the Authenticity Guarantee for watches with eBay:
- Proof of authentication: Upon receiving the item, the authenticator confirms they are consistent with the listing title, description, and images. Each watch is given a unique barcode, and entered into a tracking system. An eBay tag embedded with NFC chip technology is attached to guarantee its authenticity and finalise the process, driving confidence in the collectability and resale value.
- Third-Party authentication: eBay has partnered with an independent team of authenticators from watch-specialists Stoll & Co, who will carry out a multi-point physical authentication inspection:
- The authenticators verify multiple inspection points, including the crown, bezel, dial, case, clasp/buckle, hands, end links, and reference number.Any collateral that is sent alongside it is also vetted, including the watches’ inner and outer boxes, as well as the pillow on which the watch is presented
- Enhanced seller protection with verified returns: For sellers who choose to offer returns, eBay’s Authenticity Guarantee programme ensures the exact item initially sold is returned to the seller, via a verified returns process. Returns are shipped back directly to the authentication centre, where the third-party authenticators verify each item and its condition before returning to the seller.
UK Watches by numbers:
- Searches for watches have increased on eBay UK by 31% over the last 2 years with a watch selling every 28 seconds last year on the platform.
- Most popular watch brands (based on sales): Rolex, Omega and Tudor
- Most popular watch models (based on sales): #1 Rolex Datejust, #4 Omega Seamaster, #5 Tudor Black Bay
- Most expensive watch sold on eBay UK in past 3 years: Rolex GMT Master II 126715CHNR Rose Gold 40mm Black Dial 2019 With Papers for £50,000
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Dave is a Co-Founder of eSeller365. For over 10 years he has been involved with eCommerce with a particular interest in the marketplaces and the huge opportunities available for sellers when utilizing a multi-channel strategy. After a year of being the UK’s youngest eCommerce consultant, he built an education platform called UnderstandingE that showed the world how to utilize Magento as the “Third Generation of Multi-Channel software”.
Dave has also created a YouTube channel dedicated to entrepreneurship and eCommerce as well as a podcast dedicated to mental health awareness. When Dave isn’t working his main interests include learning and playing Chess, researching the Crypto and NFT space, and trying to find the nearest beach.