Dive Brief:
- E-commerce platform eBay announced the launch of a service to connect customers with consignment resellers who can list and sell their luxury items for them, according to a Tuesday release.
- The service will initially focus on designer handbags and will function in partnership with Linda Lightman, founder of Linda’s Stuff, per the release. Next year, eBay plans to expand the program to cover jewelry and watches.
- Items submitted for resale will be photographed, priced and listed by Linda’s Stuff, and the consignor will be paid once a piece sells, while the service will take a percentage ranging from 20% to 40%, depending on the price of the item.
Dive Insight:
Items listed for $500 or more will display the eBay Authenticity Guarantee checkmark, and once sold, the item will go through the company’s authentication process, per the release.
“Launching a consignment service builds on the momentum of offerings like Authenticity Guarantee and Certified By Brand, giving our customers more trusted ways to buy and sell on the marketplace,” Tirath Kamdar, global general manager of luxury at eBay, said in a statement.
There are 33 brands eligible for the program, including Balenciaga, Prada, Dior, Fendi and Off-White. A complete index of acceptable products is posted on eBay’s website, which also states that the company is “not currently accepting brands” that are not on the list.
“It’s amazing to look back on how much Linda’s Stuff — and the secondary market for luxury goods — has grown since I started my business 23 years ago,” Lightman said in an email to Fashion Dive. “[EBay] has enabled my hobby to blossom into a multi-million-dollar resale business and the launch of eBay’s consignment service is yet another example of how that platform continues to respond to the ever-evolving needs of its customers.”
Linda’s Stuff, which launched in 2000, has become a $25 million business, according to the company’s website.
This move by eBay comes as sites such as The RealReal and Rebag continue to compete for market share in the luxury resale space. The global fashion resale market was estimated at $211 billion in 2023 and is expected to reach $350 billion by 2027, per a report by ThredUp.
Adding a standardized process for luxury consignment is the latest step in an ongoing eBay strategy to attract resale shoppers. In April, the company launched its Certified by Brand program, which allows customers to authenticate the sale of their secondhand luxury products, and which included “only on eBay” new, certified pre-owned, limited-edition handbags, jewelry and timepieces. Then in July, the company expanded its Authenticity Guarantee to include selected streetwear apparel brands, adding to the items it already verified, including streetwear sneakers, watches, jewelry, handbags and trading cards.
