Omega has appeared in the top 10 list of brands that generate the most sales on eBay UK for the first time, suggesting that the launch of MoonSwatch last year — a collaboration between Swatch and Omega to make a $260 bioceramic version of the Speedmaster — has boosted demand for the watchmaker.
The league table includes brands from all sectors, with Apple products topping the list with sales on eBay worth £425 million (c.$550m) last year.
Rolex is the top ranked watch brand, generating sales worth £65 million; number three on the list.
Omega was a new entry in the top 10, in at number 9, with eBay sales up to £26.3 million.
Top 10 brands by sales on eBay in 2022
1. Apple – £425m
2. Samsung – £124m
3. Rolex – £65m
4. LEGO – £54m
5. Land Rover – £43m
6. DEWALT – £37m
7. Makita – £31m
8. Nikon – £27m
9. OMEGA – £26.3m
10. Huawei – £26.2m
Overall, watches accounted for sales of £105 million (c.$155m) on eBay UK last year.
That was only bettered by notebooks and laptops, which generated sales of £107 million.
When it came to individual items selling on eBay UK, the highest priced item was a Richard Mille watch, described in a report by Wholesaleclearance.co.uk as a ‘grey boutique watch’, which sold for £380,211 ($490,000).
Most likely, that would have been an RM055 Bubba Watson limited edition in titanium.
eBay’s popularity as a platform for buying and selling high end watches has been massively boosted in the past two years by the introduction of its Authenticity Guarantee scheme, which ensures every timepiece priced at over $2,000 has to be checked by experts on its way between a seller and buyer.
In addition, the company’s fee structure means sellers are charged a smaller percentage of each sale as the price increases.
The algorithm is a little complicated but, while a traditional auction house might charge a fee of 25% or more on a sale, eBay’s commission would be under 5%.