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The online retail giant has announced the launch of a new authentication service designed to certify fine jewelry items offered for sale on its platform. An announcement that comes while the increase in spending on high-value collectibles and luxury allowed eBay to unveil results above expectations in the second quarter.
After the authentication service for sneakers, watches, handbags and collector cards, the global e-commerce site eBay is increasingly turning to luxury. The new high jewelry authentication service on its platform is being offered for luxury jewelry through a collaborative agreement with the Gemological Institute of America (GIA).
The service will initially be available for all jewelry auctioned at prices above $500. In its press release, eBay explains that it wants to capitalize on the growing success of this category, since no less than 8 luxury jewels were sold every minute on its site last year.
Focus on luxury
EBay beat second-quarter earnings estimates, focusing on luxury sales in a climate of inflation and market turmoil. This helped counteract slowing consumer spending and weakness in some European markets.
The company forecast a decline in revenue for the current quarter, but results still came in above Wall Street targets.. “We’re seeing significant outperformance in target categories globally” explained Jamie Iannone, eBay’s chief executive officer, on a conference call after the earnings release.
In the quarter under review, eBay’s revenue fell 9 percent to $2.42 billion, but beat estimates by $2.37 billion.
Read also > GBK Brand Bar partners with Ebay for a luxury lounge at Art Basel
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The online retail giant has announced the launch of a new authentication service designed to certify fine jewelry items offered for sale on its platform. An announcement that comes while the increase in spending on high-value collectibles and luxury allowed eBay to unveil results above expectations in the second quarter.
After the authentication service for sneakers, watches, handbags and collector cards, the global e-commerce site eBay is increasingly turning to luxury. The new high jewelry authentication service on its platform is being offered for luxury jewelry through a collaborative agreement with the Gemological Institute of America (GIA).
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The online retail giant has announced the launch of a new authentication service designed to certify fine jewelry items offered for sale on its platform. An announcement that comes while the increase in spending on high-value collectibles and luxury allowed eBay to unveil results above expectations in the second quarter.
After the authentication service for sneakers, watches, handbags and collector cards, the global e-commerce site eBay is increasingly turning to luxury. The new high jewelry authentication service on its platform is being offered for luxury jewelry through a collaborative agreement with the Gemological Institute of America (GIA).
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