In celebration of New York Jewelry Week, eBay opened the doors to the Luxury Exchange pop-up that landed in the heart of Diamond District. Addressing the surging price trend in the designer goods market, eBay offers luxury enthusiasts an opportunity to exchange their lesser-loved pieces for other authentic luxury items that might better suit their collection.
The pop-up will be open for two days only (November 16th and 17th), when shoppers will have an opportunity to appraise their luxury items by the Authenticity Guarantee team to receive an approximate value of their item (aka “closet currency”). Then, those interested in exchanging can shop the store’s inventory of designer watches, handbags, and jewelry. There is also an option to list a high-end item on eBay right at the pop-up, with the assistance of an on-premises photo studio and advisors.
The launch of the eBay holiday pop-up was inspired by a recent BoF Insights and eBay-partnered investigation that concluded shoppers’ interest in a more sustainable circular fashion approach. Based on this research, 30% of luxury shoppers consider high-end handbags, watches, and jewelry less volatile than other investment assets. 57% of luxury shoppers believe the value of their authenticated luxury accessories will appreciate if the item remains in excellent condition.
The Luxury Exchange project is a part of eBay’s Authenticity Guarantee program launched in 2020. The program reflects second-hand shoppers’ mindset of investing in luxury items that have been physically authenticated.
According to BoF, more than half of pre-loved luxury goods fans consider their designer pieces a form of currency that allows them to trade in lesser-worn pieces for those that spark more joy. Additionally, luxury items are viewed as an investment that could get a higher return on investment than other categories of products. Based on the BoF data, 62% of luxury consumers actively listing on resale platforms have sold at least one high-end accessory for more than the original price they paid.
The eBay Luxury Exchange welcomes items from the following brands to bring for authentication and exchange:
- Jewelry: Bvlgari, Tiffany & Co., Cartier, Van Cleef & Arpels, and David Yurman (price range: $500-$10,000).
- Handbags: Louis Vuitton, Chanel, Dior, Givenchy, Fendi, Loewe, Prada, Gucci, YSL, Goyard, Bottega Veneta, Chloe, Celine, and Balenciaga (price range: $500-$10,000).
- Watches: Rolex, Breitling, Cartier, Omega, Patek Philippe, Tag Heuer, A.Lange & Sohne, Audemars Piguet, and Blancpain (price range: $2,000-$10,000).
The pop-up will be open to the public for two days only: November 16th and 17th (from 11 am to 6 pm). No RSVP is required to attend an NYC-based pop-up located at 22 West 47th Street, New York, NY.