eBay To Authenticate Sneakers $100+ in U.S.

Rhea-AI Summary

eBay has expanded its Authenticity Guarantee service for sneaker sales, now authenticating all collectible sneakers priced over $100 in the U.S. The program launches this month, initially covering popular styles and brands, with plans to include all qualifying sales by early 2021. This follows the successful September launch for watches over $2,000. The initiative promotes consumer confidence and aims to attract top sneaker sellers, bolstered by the waiving of selling fees on sneakers of $100 or more.

Positive

• Expansion of the Authenticity Guarantee service for sneakers priced over $100 enhances consumer trust.
• Initial coverage of popular sneaker brands and styles aims to attract more sellers and buyers.
• Fee waivers on sneaker purchases over $100 could boost sales and marketplace attractiveness.

Negative

• None.

SAN JOSE, Calif., Oct. 12, 2020 /PRNewswire/ -- eBay, the online marketplace that sells a sneaker every 1.5 seconds, announces the expansion of its Authenticity Guarantee service for sneaker sales on the platform. Through this program, all new and pre-owned collectible sneakers sold on eBay for over $100 in the U.S. will be fully vetted and verified by an independent team of industry experts. The service launches this month with the initial authentication of the most popular sneaker styles and brands on the marketplace, and will ramp to include all $100+ sneaker sales by early 2021.

This marks the Company's second significant authentication announcement in as many months. In September, eBay first launched Authenticity Guarantee for every watch sold over $2,000 in the U.S. The announcement also builds on eBay canceling selling fees on any sneakers purchase of $100 or more, which has helped attract more top sneaker sellers and bring the most coveted inventory to the marketplace at the most competitive prices.     

"Authentication has become an expectation for today's consumers in categories of high passion and high value, and this program makes eBay the most attractive platform for enthusiasts in these categories," says Jordan Sweetnam, SVP and General Manager of eBay North America. "eBay operates the world's most diverse sneaker marketplace – with the widest selection and best prices – and by removing any uncertainty with the buying process, our community can buy and sell with total confidence."

How Authenticity Guarantee Works
When a sneakers purchase is made, the seller ships it directly to eBay's independent third-party authentication facility for a comprehensive, multi-point physical inspection. Following this rigorous assessment, the sneakers are sent via expedited shipping to the buyer. Additional details include:

• Proof of Authentication: Upon receiving the sneakers, the independent authenticator confirms they are consistent with the listing title, description, and images, and then performs a multi-point physical authentication inspection. An eBay tag, guaranteeing its authenticity is attached to the sneakers to finalize the process, driving confidence in the collectibility and resale value.
• Third-Party Authentication: eBay has partnered with industry leader Sneaker Con to create a new state-of-the-art facility – leveraging the top authenticators in the industry, a robust checklist of product specifications, and best-in-class processes to ensure accuracy and efficiency. With rigorous inspection of the box, shoe, and accessories, the authentication underscores eBay's commitment to giving shoppers exactly what they want.
• Verified Returns: For sellers who choose to offer returns, eBay's sneaker authentication program ensures the exact item initially sold is returned to the seller, via a verified returns process. Returns are shipped back directly to the authentication center, where the third-party experts verify each item and its condition before returning to the seller.

Learn more about eBay's elevated authentication experience – first launched for luxury watches, and expanding soon to collectible sneakers – at ebay.com/buyauthentic. To shop sneakers, check out eBay.com/sneakers and follow @eBay on Instagram, Twitter, YouTube, TikTok and Facebook.

eBay Sneakers By the Numbers

• On average, there are more than half a million sneaker listings on eBay each day.
• Sneakers are surging in popularity around the world and are a top enthusiast category on the marketplace.
• In 2019, eBay sold nearly six million sneakers in North America.
• eBay sells millions of sneakers a year, making the marketplace one of the largest channels to buy and sell sneakers.

Source: Numbers based on eBay North America (U.S. and Canada) 2019 sales data.

About eBay
eBay Inc (NASDAQ: EBAY) is a global commerce leader including the Marketplace and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity for all. 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. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com. 

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SOURCE eBay Inc.

FAQ

What is the eBay Authenticity Guarantee for sneakers?

The eBay Authenticity Guarantee ensures all collectible sneakers sold for over $100 are vetted by independent experts.

When does eBay plan to include all $100+ sneaker sales under the Authenticity Guarantee?

eBay plans to include all $100+ sneaker sales under the Authenticity Guarantee by early 2021.

What was the previous service launched by eBay related to authentication?

In September, eBay launched the Authenticity Guarantee for watches sold over $2,000.

How does the sneaker authentication process work on eBay?

Sellers ship sneakers to eBay's authentication facility for a comprehensive inspection before they are sent to buyers.

What are the benefits of the Authenticity Guarantee for buyers?

Buyers benefit from increased confidence in the authenticity of their sneaker purchases and verified returns.