eBay launches Authenticity Guarantee for luxury watches in the US

According to the press release, eBay's Authenticity Guarantee provides an extra layer of trust and confidence for shoppers browsing pre-owned and vintage watches marked with the Authenticity Guarantee badge. eBay is also announcing a suite of new features and experiences. The new service includes features such as:

• Selection of Authenticity Guarantee Badged Items: After purchase and before being shipped to the customer, the piece is 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. 

• 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 is performed. Finally, a security tag is attached to the watch.

Moreover, eBay is adding the following enhancements, changing the luxury watch experience: 

• 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 new escrow payment experience provides an additional layer of trust when buying and selling luxury watches. The buyer is protected as they have the opportunity to inspect the item before payment is released, while the seller is protected by being able to track the transaction at every stage, ensuring payment is received. The feature will begin rolling out in the fall of 2020, and will be available on all eligible listings from all US-based sellers by the end of 2020.

• Reduced Seller Fees: Beginning 9 September 2020, eBay is announcing a reduction in seller fees for certain sellers in luxury watches. For sellers who are active in managed payments, the marketplace is lowering final value fees in the Watches category for watches sold over USD 1,000. Managed payment sellers can save up to 35% in final value fees as compared to the final value fees they previously paid. Besides, 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 USD 2,000.