eBay is hitting the road to find people who may not be aware how much their watches are worth.
A roadshow stopping off in Nashville, Seattle, Las Vegas and Austin will have experts at the ready to provide valuations on red hot collectibles including sneakers, luxury watches, and trading cards.
“Younger generations have upended the idea of a traditional portfolio by marrying their passions with financial opportunity,” says Jordan Sweetnam, senior vice president, eBay North America. “We’ve transformed the eBay experience to reflect that change in behavior, ensuring the authenticity of the most covetable, collectible and investment-worthy items in our marketplace,” he adds.
In each city, eBay will bring along a famous face to show off their collections.
The first event, taking place in Austin on May 7 and 8, will welcome Atlanta Hawks basketball star Trae Young, who will talk about and show his personal collection of luxury watches.
“Today’s most recognized personalities are frequently known for their unique collections as much as they are their professions – for a lot of celebrities, it’s become part of their brand,” says Charis Márquez, vice president of Fashion at eBay. “We’re partnering with these high-profile collectors to unearth incredibly rare and one-of-a-kind collectible items, offering a peek into the most jaw-dropping collections across the country.”
The format of each event has been made covid-secure with a drive-through format.
Collectors will drive up and pass their item to a staff member, which will be photographed and delivered to an expert. While watches are going through the valuation process, the owner can watch the process on a screen provided by eBay before being given an estimated price.
The service is free and bookings are not required, but there is a limit of only one watch per person for the valuation service.
eBay’s valuation roadshow takes place at:
Nashville, TN: April 13, 14
Seattle, WA: April 21, 22
Las Vegas, NV: April 30, May 1
Austin, TX: May 7, 8
eBay has been rolling out an increasingly sophisticated range of services to ensure luxury watches sold on its platform are genuine and as described.
An authenticity guarantee program was launched last year, which means every watch valued at over $2,000 is checked by an expert on the way from a seller to a buyer. The service was first introduced in the United States, and then in Japan.
eBay says it sold over 4 million watches in 2020 and over 12 million watches in the past three years. Sales of Rolex, alone, were up by 4% in 2020.
The online giant says 57% of watches are brand new, contributing 33% of watch sales. 42% of eBay’s watches inventory comprises pre-owned inventory, contributing 63% of watch sales.