EBay dives deeper into the luxury resale space with the addition of apparel | Maqvi News

Bargain hounds looking to get their hands on a vintage Birkin, Chanel Classic Flap bag, a Tom Ford Mombasa bag, or a Dior Saddle bag were undoubtedly thrilled to add eBay to their hunting grounds last year when the online marketplace introduced luxury bags to its consignment service offerings.

Now, those style hunters can also use the auction-centric site to discover designer and cult-status ready-to-wear offerings, as eBay gets closer to staking a claim on predecessors TheRealReal and Vestiaire Collective with the introduction of luxury apparel.

According to Kirsty Keoghan, global head of pre-owned apparel at eBay, apparel and other luxury items have always been a part of the strategy. At the time of the handbag consignment launch, eBay announced plans to add additional luxury categories such as jewelry and watches.

“The cross-category nature of eBay makes our investments in individual focus categories more scalable to other areas. Historically, we have applied a scalable strategy to our technology and capabilities, launching with one category and quickly and seamlessly adapting to others,” she told FashionNetwork.com exclusively over email.

According to the executive, its sheer volume is the competitive edge against other resale platforms.

“Our consignment service allows for a wide range of sellers to access our audience of 132 million users and brings even more items to an already expansive luxury inventory on the marketplace,” she noted, also emphasizing seamless, professional consignment procedure.

“By removing common hassles often encountered with the typical online resale experience we are making it even easier to participate in the circular economy.”

According to eBay, demand for pre-owned apparel in general grew in 2023. The San Jose, California-based organization tracked 22 pre-loved shirts, six pairs of pre-loved jeans, and eight pre-loved coats were sold every minute on eBay across the US, UK, and Germany, proving not only interest but an example of how digital data tracking informs business decision for retailers.

For casual sellers deciding to make a few bucks on a prior luxury purchase, eBay’s new service promises to make the process seamless. It also helps them participate in circular fashion more easily. While sellers on TheRealReal have taken a hit recently, eBay has already seen some encouraging news for more robust selling amounts.

For example, a small, quilted Chanel 19 Flap Bag (consigned via the new service in December) exceeded the average sales price of all other bags of the same style sold on eBay last year by more than 45%, according to the company.

Items can be sold in an auction bidding format or at a fixed price, usually starting for seven days with the latter method and a competitive price tag.

“If buyers bid above the fixed starting price, the consignor benefits from a greater selling price and higher proceeds. This format ensures that the pricing of the item is competitive with market pricing,” said Keoghan, adding, “Alternatively, if the bids on the item are not competitive or the item does not sell in auction format, Linda’s Stuff relists it as a ‘buy it now’ (BIN) listing, with ‘best offer.’ This adjustment aims to establish the highest possible price for the item, coupled with the flexibility to negotiate, ensuring consignors receive the best return on their items.”

The BIN function is also generally used for high-value items.

One of the biggest concerns of the luxury resale market is authentication, something even the savviest resale retailers and e-tailers have needed help with. EBay claims to circumvent such problems with several programs it currently has on its platform. Its Direct from Brand and Certified by Brand are listings designated by a badge that means it is being sold by the brand directly or via an authorized seller, as well as its Authenticity Guarantee, in which professional authenticators with extensive industry knowledge put eligible items through a rigorous multi-step verification process, checking each item’s condition against the listing to ensure it’s exactly as described and authentic. Eligible consigned items listed for $500 or more will automatically display the eBay Authenticity Guarantee badge, and once purchased, they will go through eBay‘s authentication process.
 
According to Keoghan, these tools are paramount for items such as watches, sneakers, handbags, jewelry, and trading cards. EBay boasts authenticating over 7.7 million items to date which has helped ensure buyers confidence.
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The acquisition of Milan-based Certilogo, a provider of AI-powered apparel and fashion goods authentication aimed at empowering consumers to manage their garments’ lifecycle, led by CEO Michele Casucci in July 2023, is also in place to help counteract fake goods from ending up on the site.

For its handbags, eBay partnered with Linda’s Stuff, a multi-million-dollar business led by Linda Lightman, a leading seller of and expert in luxury goods. Linda has operated a consignment store on eBay for over 20 years and will continue as the luxury apparel resale partner.

“Our partner, Linda’s Stuff, oversees the post-sale process, including notifying consignors upon sale, handling returns directly with buyers within a 30-day window, and managing payouts after this period. This comprehensive service streamlines the selling process, providing peace of mind to our consignors,” Keoghan remarked.

The eBay consignment process is straightforward. Users fill out the consignment intake form by answering a few simple questions. Upon submission of the form, the customer will be provided with a prepaid, insured shipping label. All shipments are insured throughout the shipping process. EBay and the consignment partner Linda’s Stuff then handle item photography, pricing, and listing. Once the item sells, the consignor will receive the proceeds from the sale, which is a percentage of the sale, depending on the item’s selling price.

 Items deemed eligible for eBay consignment for apparel are available for select brands, at any price point, in new or pre-owned condition, that fall under specific categories. Thus far accepted brands are as follows: Adidas, Aimé Leon Dore, Alexander Wang, Balenciaga, Bape, Burberry, Cactus Plant Flea Market, Chrome Hearts, Comme Des Garcons, Dior, Eric Emanuel, Fendi, Fear of God, Givenchy, Gucci, Jordan, Kith, Louis Vuitton, Nike, Off-White, Ovo, Palace, Palm Angels, Prada, Raf Simons, Rhude, Stone Island, Supreme, Versace, Vetements, and Visvim.