Following a 25 percent revenue increase in Q3, eBay has converted a Los Angeles gas station into a drive-thru “Authentication Station” where people can appraise and sell their high-end sneakers, watches and collectibles without leaving the car.
The socially-distant initiative comes on the heels of eBay’s new Authenticity Guarantee, a program that involves independent experts verifying items through inspections. The offering is currently available for $200-plus sneakers and watches, two of the marketplace’s largest and popular luxury categories.
To get an appraisal, attendees drive up and stay in their car as an eBay attendant—a top eBay seller and a member of third-party authentication partner Sneaker Con—will take the item inside the station for inspection. Once the item is verified, the person has the option to sell on the spot.
In 2019, eBay sold nearly six million sneakers in North America and over 2 million watches. On average, there are more than half a million sneaker listings on eBay each day and 165,000 daily live listings for luxury watches.
Sales for Rolex, which accounts for 40 percent of luxury watch sales on the site, have increased 60 percent on eBay since last year.
eBays Authentication Station will be open for three days November 19 -21, from 12 p.m. to 5 p.m. at 4450 Beverly Blvd.
Between 19 million sellers worldwide and 183 million global active buyers, eBay’s revenues reached $2.6 billion in Q3. Gross merchandise volume was $25 billion, up 22 percent year-over-year.
“A year ago, we were losing share in [the collectible sneakers] category, but now we’re seeing over 50% [volume] growth year to date — and that was before launching the authenticity guarantee,” CEO Jamie Iannone said in a conference call with analysts.
In June, eMarketer reported that Walmart surpassed eBay in share of US ecommerce sales for the first time.